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918 Krenson Woods Road Lakeland, FL 33813

3 Beds 2 Baths 1,556 sqft Built 2013

$227,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $145.89
  • 4 Days on Market
  • MLS # : T3285965
  • Updated Date : 01/22/2021 at 09:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,556 sqft
  • Baths : 2 full
Listing Agent

Bhhs Florida Properties Group

Listing Agent's Description

One or more photo(s) has been virtually staged. Welcome to this MOVE IN READY home located in the desirable Krenson Woods neighborhood in Lakeland. This spacious home features a SPLIT FLOOR PLAN that provides plenty of privacy and OPEN CONCEPT ideal for ENTERTAINING.As you enter the property, there is a perfect area for a FORMAL DINING ROOM, additional LIVING ROOM or it can be used as a Home Office/Study for those who may need the extra space. The kitchen features WOOD cabinets, eat-in space, and opens into the family room. The master suite includes a WALK-IN closet, garden tub along with a walk-in shower. The inside of the home has been FRESHLY PAINTED with a neutral color that complements any décor style. Other notable upgrades include: WOOD flooring throughout all social areas and kitchen, LAMINATE in all bedrooms, BEAUTIFUL WINDOW SHUTTERS, 5 ¼ baseboards and freshly painted flooring in the garage. The back yard has a covered PORCH and a completely FENCED IN YARD with a VINYL FENCE. Located in the PRIME location of South Lakeland close to restaurants, I-4, and shopping. Don’t wait, schedule your private tour today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Medulla

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $70k206k

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

Neighborhood: Medulla

NeighborhoodNIR Market*CityMarket2015Year20092019 Q295010001050110011501200125013001350Rent in $9081389

* 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
Medulla Elementary School Primary Regular 635 40 3
Lakeland Highlands Middle School Middle Regular 1,217 66 6
George W. Jenkins Senior High School High Regular 2,319 116 5

Medulla Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 40
3
GreatSchools Rating

Lakeland Highlands Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 66
6
GreatSchools Rating

George W. Jenkins Senior High School

  • Education Level: High
  • # of students: 2,319
  • # of teachers: 116
5
GreatSchools Rating
 

$204,300$249,700$227,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$788
Property Tax -$295
Property Insurance -$125
HOA -$33
Property Management Fees -$129
CASH FLOW
$30

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.

$227,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 9.0%
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

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$65,905

INVESTMENT

$65,905

Down Payment
$56,750
Rehab Estimate
$5,750
Closing Costs
$3,405

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$788

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,750
Loan Amount $170,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$13,897

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,400

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4003$1,4004$1,4955$1,525
$1,525
RENT COMPS ANALYSIS
  • 918 Krenson Woods Road Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 2219 Maple Hill Ct Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 2006
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.89
    •  
  • 949 Krenson Woods Rd Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2013
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 692 Jessanda Cir Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1996
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 5276 Krenson Woods Way Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2014
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.91
    •  
PROPERTY LISTING DETAILS
Evelin Cabezas
1.813.380.4710
Bhhs Florida Properties Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3285965
Last Updated: 01/22/2021
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