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5054 Fairfield Dr
Lakeland, FL

5054 Fairfield Dr

$202,300
2 bd • 2 ba • 956 sf

This analysis was generated by artificial intelligence on 1/23/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$202,300

Price/Sq.Ft

$212

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

The property at 5054 Fairfield Dr, Lakeland, FL 33811 offers several positive aspects. At $202,300, it's priced competitively at $211.61/sqft, which is approximately 15% below the median home value in Lakeland ($250,000 as of 2023). The 2 bed/2 bath layout in 956 sqft is efficient and well-suited for small families, couples, or as an investment property. The kitchen features stainless steel appliances, including a newer over-the-range microwave, which adds value. Dark wood cabinets and what appears to be granite countertops provide a modern aesthetic. The property includes central air conditioning, essential in Florida's climate. Its location in Lakeland offers a balance of suburban living with access to urban amenities, and the median income of $75,483 suggests a stable local economy.

The Bad

The property's size at 956 sqft is approximately 20% smaller than the average single-family home in the US (about 1,200 sqft), which may limit its appeal to larger families. The kitchen, while functional, shows signs of wear on the cabinets and may require updating in the next 5-7 years (estimated cost: $15,000-$20,000). The appliances, while stainless steel, appear to be from the early 2010s and may need replacement within 3-5 years (estimated cost: $5,000-$7,000). The tiled flooring, visible in the kitchen, may not appeal to all buyers and could be a point of negotiation. There's no information provided about the HVAC system's age, which could be a significant expense if it's original to the house.

The Ugly

Florida's susceptibility to hurricanes and flooding poses significant risks. Flood insurance costs in Lakeland can range from $600 to $2,000 annually, depending on the property's exact location and elevation. The potential for sinkholes in the area is also a concern, with sinkhole insurance potentially adding $2,000-$4,000 to annual insurance costs. If the property was built before 2002, it may not meet current hurricane building codes, potentially requiring expensive upgrades (estimated $10,000-$30,000 for full compliance). The lack of information about the year built is concerning, as older homes in Florida can face higher insurance premiums and maintenance costs. Without knowing the age of major systems (roof, plumbing, electrical), there's a risk of significant near-term expenses.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for first-time homebuyers or young professionals with a household income of $60,000-$80,000, aligning with Lakeland's median income. It's ideal for singles, couples, or small families who prioritize a modern kitchen and don't require extensive space. Investors looking for rental properties could benefit, as the current rental rate for a 2-bedroom in Lakeland ($1,250/month) could yield a potential gross annual return of 7.4% before expenses. The property would appeal to those who appreciate a low-maintenance lifestyle and are comfortable with the risks associated with Florida's climate.

Not For

This property is not suitable for larger families needing 3+ bedrooms or more than 1,000 sqft of living space. It's also not ideal for buyers seeking a home with significant long-term appreciation potential, given its modest size and potential for high insurance and maintenance costs. Those with a low tolerance for natural disaster risks or unable to afford potentially high insurance premiums should look elsewhere. Buyers looking for a home with a large yard or outdoor entertainment space may find this property lacking, based on the limited information provided.
Demographics
Area Median Income

$75,483

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Risk Assessment

Risk Analysis

The primary risks include high insurance costs due to Florida's hurricane and flood risks, potentially adding $3,000-$6,000 annually to ownership costs. There's a significant risk of property damage from severe weather events, with average hurricane damage claims in Florida ranging from $10,000 to $30,000. The potential for sinkholes in Lakeland poses both safety and financial risks, with remediation costs potentially exceeding $100,000 if a sinkhole develops. Long-term climate change risks, including sea-level rise and increased storm intensity, could affect property values and insurability. Without knowing the age of the home and its major systems, there's a risk of unexpected repair costs, potentially including roof replacement ($8,000-$15,000), HVAC system ($5,000-$10,000), or plumbing issues ($5,000-$15,000) within the next 5-10 years.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$192,580

-4.8% below list price

Median Price

$255,000

Based on 5 recent sales

Price per Sq.Ft

$252

Comparable Properties

1266 DOSSEYWOOD LANE, LAKELAND, FL 33811
Price: $255,000
Sq.Ft: 1,145
Beds/Baths: 2/2
$/Sq.Ft:
$2235.2%
Sale Date: 11/6/2024
4620 HARDEN BOULEVARD, LAKELAND, FL 33813
Price: $331,000
Sq.Ft: 1,132
Beds/Baths: 2/2
$/Sq.Ft:
$29238.2%
Sale Date: 9/9/2024
1038 JORDAN ROAD, LAKELAND, FL 33811
Price: $269,000
Sq.Ft: 1,120
Beds/Baths: 3/2
$/Sq.Ft:
$24013.5%
Sale Date: 8/30/2024
2832 FORESTBROOK DRIVE E, LAKELAND, FL 33811
Price: $75,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 11/25/2024
SIMMONS ROAD, LAKELAND, FL 33811
Price: $32,900
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 9/5/2024

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