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8006 Oak Run Cir Lakeland, FL 33809

3 Beds 2 Baths 1,393 sqft Built 2004

$225,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $161.52
  • 2 Days on Market
  • MLS # : L4920752
  • Updated Date : 02/06/2021 at 22:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,393 sqft
  • Baths : 2 full
Listing Agent

La Rosa Realty Prestige

Listing Agent's Description

Come see this freshly painted home with a NEW ROOF installed February 01, 2021, sitting on just over a 1/4 of an acre with no backyard neighbors. This home with tile all throughout has 3 Bedrooms 2 bathrooms, an open concept kitchen with a breakfast bar, and is waiting for you to make it your own. More pictures coming soon.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Oak Run

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180kPrice in $49k197k

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

Neighborhood: Oak Run

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400Rent in $9081441

* 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
Edgar L. Padgett Elementary School Primary Regular 547 33 6
Lake Gibson Middle School Middle Regular 1,130 68 4
Lake Gibson Senior High School High Regular 1,834 92 3

Edgar L. Padgett Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 33
6
GreatSchools Rating

Lake Gibson Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 68
4
GreatSchools Rating

Lake Gibson Senior High School

  • Education Level: High
  • # of students: 1,834
  • # of teachers: 92
3
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$782
Property Tax -$247
Property Insurance -$116
HOA -$14
Property Management Fees -$129
CASH FLOW
$52

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.

$225,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 7.1%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$16,632

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,181

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,090
1$1,0902$1,3403$1,3504$1,3755$1,395
$1,395
RENT COMPS ANALYSIS
  • 8006 Oak Run Cir Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.96
    •  
  • 323 Fox Lake Dr Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2003
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.74
    •  
  • 8603 Tara Pl Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1988
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 943 Princeton Manor Ln Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2007
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.91
    •  
  • 142 Lindale St Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1999
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.94
    •  
PROPERTY LISTING DETAILS
Marilyn Davis
1.305.510.2049
La Rosa Realty Prestige
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920752
Last Updated: 02/06/2021
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