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8335 Adele Rd Lakeland, FL 33810

3 Beds 3 Baths 1,861 sqft Built 2006

$234,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $126.22
  • 4 Days on Market
  • MLS # : S5042175
  • Updated Date : 11/05/2020 at 17:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,861 sqft
  • Baths : 3 full
Listing Agent

Florida Lighthouse Realty

Listing Agent's Description

Good Community, recently paint.

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: High Pointe North

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $68k226k

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

Neighborhood: High Pointe North

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400145015001550Rent in $9081554

* 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
R. Clem Churchwell Elementary School Primary Regular 627 39 6
Sleepy Hill Middle School Middle Regular 816 50 2
Kathleen Senior High School High Regular 2,124 107 2

R. Clem Churchwell Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 39
6
GreatSchools Rating

Sleepy Hill Middle School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 50
2
GreatSchools Rating

Kathleen Senior High School

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

$211,410$258,390$234,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$867
Property Tax -$258
Property Insurance -$142
HOA -$23
Property Management Fees -$80
CASH FLOW
$40

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.

$234,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.60%

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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$18,577

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,340

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2003$1,4104$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 8335 Adele Rd Lakeland, FL 3
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.76
    •  
  • 8455 Adele Rd Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.64
    •  
  • 2341 Hamlet Cir Lakeland, FL 2
    • 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.69
    •  
  • 8306 Porch Ct Lakeland, FL 4
    • 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 2006
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 2684 Porter St Lakeland, FL 5
    • 4 beds 3 baths ∙ 2,061 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,061 Sqft ∙ Built 2006
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
PROPERTY LISTING DETAILS
Jose Marrero
1.407.436.5140
Florida Lighthouse Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5042175
Last Updated: 11/05/2020
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