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7939 Grand Pines Blvd Lakeland, FL 33810

3 Beds 2 Baths 1,378 sqft Built 2001

$210,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $152.39
  • 4 Days on Market
  • MLS # : L4919605
  • Updated Date : 12/03/2020 at 16:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,378 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Get ready to make some amazing memories in your new home. This 3 bedroom 2 bath home has a spacious kitchen and dining area with newer appliances. No carpet! Ceramic tile throughout the home including the remodeled bathrooms. The roof was just replaced in November. Nicely landscaped yard with storage shed and a beautiful orchid tree. You'll enjoy spending time on the large screened lanai at the rear of the home. The community features a community pool and playground with low HOA.

SEE MORE

MARKET HIGHLIGHTS

  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)
  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)

PRICE & RENT TRENDS

Neighborhood: Grand Pines

NeighborhoodNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $56k185k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Grand Pines

NeighborhoodNIR Market*CityMarket2015Year20092019 Q290095010001050110011501200125013001350Rent in $8901380

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Dr. N.e. Roberts Elementary School Primary Regular 661 47 6
Kathleen Middle School Middle Regular 764 42 4
Kathleen Senior High School High Regular 2,124 107 2

Dr. N.e. Roberts Elementary School

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 47
6
GreatSchools Rating

Kathleen Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 42
4
GreatSchools Rating

Kathleen Senior High School

  • Education Level: High
  • # of students: 2,124
  • # of teachers: 107
2
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$775
Property Tax -$231
Property Insurance -$115
HOA -$22
Property Management Fees -$129
CASH FLOW
$48

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 3.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$18,611

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,320

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,123

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$975
1$9752$1,0503$1,2004$1,3205$1,400
$1,400
RENT COMPS ANALYSIS
  • 7939 Grand Pines Blvd Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.96
    •  
  • 2706 Shadywood Pl Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1991
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.69
    •  
  • 7949 Indian Heights Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.77
    •  
  • 8026 Magnolia Ridge Dr Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.90
    •  
  • 2727 Jennifer Dr Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1993
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
PROPERTY LISTING DETAILS
Tonya Lockamy
1.863.535.7271
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919605
Last Updated: 12/03/2020
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