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928 Doc Gay Rd Lakeland, FL 33803

3 Beds 1 Baths 912 sqft Built 1965

$105,000

List Price

$900

$810 - $990

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $115.13
  • 2 Days on Market
  • MLS # : L4920549
  • Updated Date : 01/30/2021 at 06:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 912 sqft
  • Baths : 1 full
Listing Agent

Webpro Realty, Llc

Listing Agent's Description

INVESTMENT / FIXER UPPER - Block Home - Three Bedrooms, 1 Bath, Built 1965, Interior of the home is original. 912 SF Heated Space, Roof replaced 2006, AC replaced 2012 - Gas Propane for the Kitchen Stove. Nice big yard - .36 Acre - Metal / Open storage in back yard and 1 enclosed storage shed. Utility Rm on the back of the home with washer / dryer hookup. Location: Old Tampa Hwy / Airport Rd / Doc Gay Rd. Sold As-Is - Cash. Near Rooms-To-Go, Publix Warehouse, Amazon, I-4 - easy commute to Tampa.

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

Zip Code: 33803

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180kPrice in $70k185k

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

Zip Code: 33803

ZipNIR Market*CityMarket2015Year20092019 Q295010001050110011501200125013001350Rent in $9081398

* 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
Jesse Keen Elementary School Primary Regular 644 47 2
Sleepy Hill Middle School Middle Regular 816 50 2
Kathleen Senior High School High Regular 2,124 107 2

Jesse Keen Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 47
2
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
 

$94,500$115,500$105,000

PURCHASE PRICE

$810$990$900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $900
EXPENSES Loan Payment -$365
Property Tax -$136
Property Insurance -$88
Property Management Fees -$129
CASH FLOW
$182

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.

$105,000

PROJECTED PRICE

$900

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 6.3%
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

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$50k$100k$150k$200k$250k$300k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$33,575

INVESTMENT

$33,575

Down Payment
$26,250
Rehab Estimate
$5,750
Closing Costs
$1,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$365

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $26,250
Loan Amount $78,750
See What Happens When You Reinvest Cash Flow

13.17

YEARS SAVED

$21,779

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $900

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $657

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$500
1$5002$7853$9004$1,015
$1,015
RENT COMPS ANALYSIS
  • 928 Doc Gay Rd Lakeland, FL 3
    • 3 beds 1 baths ∙ 912 Sqft ∙ Built 1965 3 beds 1 baths ∙ 912 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.99
    •  
  • 3339 Old Tampa Hwy Lakeland, FL 1
    • 3 beds 1 baths ∙ 748 Sqft ∙ Built 1952 3 beds 1 baths ∙ 748 Sqft ∙ Built 1952
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $500
    • $0.67
    •  
  • 3512 Doreen Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1963
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $785
    • $0.66
    •  
  • 1015 Plateau Ave Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1952
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,015
    • $0.83
    •  
PROPERTY LISTING DETAILS
Cheryl Skinner-marble
1.863.602.8670
Webpro Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920549
Last Updated: 01/30/2021
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