Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

957 Jerry Ct Lakeland, FL 33810

4 Beds 3 Baths 1,546 sqft Built 1965

$215,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $139.07
  • 2 Days on Market
  • MLS # : U8109390
  • Updated Date : 01/09/2021 at 18:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,546 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dalton Wade, Inc.

Listing Agent's Description

WELCOME HOME! This 4 bedroom 2.5 bathroom house is ready for you! Circular driveway out front with gate on side of house allowing access to the detached 2-car garage in the back. Garage is complete with electric sub-panel INCLUDING 240V PLUG - perfect for a workshop! Inside the home you are greeted by a large living room breaking off into a split floorpan. One side of the home boasts a massive master bedroom complete with en-suite bathroom, while the other side of the home has 3 bedrooms, one of which has a private half bath. Large kitchen includes newer cabinets and countertops. Exit the back of the home and you enter the lanai featuring an outdoor kitchen! In addition to all this home has to offer, it is centrally located putting you a short distance from anything in Lakeland, and with quick access to I4, Tampa is just 30 minutes away!

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: Winston Heights

NeighborhoodNIR Market*CityMarket2010Year2000201950k60k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $42k185k

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

Neighborhood: Winston Heights

NeighborhoodNIR Market*CityMarket2015Year20092019 Q275080085090095010001050110011501200125013001350Rent in $7241380

* 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
Socrum Elementary School Primary Regular 628 39 4
Kathleen Middle School Middle Regular 764 42 4
Kathleen Senior High School High Regular 2,124 107 2

Socrum Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 39
4
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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$747
Property Tax -$279
Property Insurance -$124
Property Management Fees -$129
CASH FLOW
$31

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.

$215,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.61%

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$13,682

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,020

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$785
1$7852$1,310
$1,310
RENT COMPS ANALYSIS
  • 957 Jerry Ct Lakeland, FL 2
    • 4 beds 3 baths ∙ 1,546 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,546 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.85
    •  
  • 3512 Doreen Dr Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1963
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $785
    • $0.66
    •  
PROPERTY LISTING DETAILS
Micah Roth
1.863.670.8720
Dalton Wade, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8109390
Last Updated: 01/09/2021
BESbswy