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1009 Marscastle Ave Orlando, FL 32812

3 Beds 2 Baths 1,595 sqft Built 1963

$329,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $206.27
  • 3 Days on Market
  • MLS # : O5913542
  • Updated Date : 01/01/2021 at 19:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,595 sqft
  • Baths : 2 full
Listing Agent

Keller Williams At The Parks

Listing Agent's Description

Enter into a large open floor plan with formal dining and living areas. You also have the convenience of a family room plus bonus room with fireplace. A large galley kitchen opens to both the dining and family room for ease of cooking and serving meals to your family or guests. Enjoy the split bedroom plan for added privacy to the master bedroom. Master bath has a great shower and sink area. This home has loads of storage. The bonus room leads out to the newly fenced, mulched back yard and pool with a children's safety fence. The home is move in ready and has been completely repainted interior and exterior with new fans, light fixtures and blinds. New roof 2015, updated laminate flooring. Don't wait to claim this home in this desirable neighborhood close to major highways, OIA, and tons of shopping and dining restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • Orlando metro contributes to 13.8% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • Orlando metro has 64.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Orlando ranks 7th in U.S. for economic growth (Milken Instutute/ Orlando Sentinel, 2018)
  • Major employers in Orlando market: Walt Disney World Resort; Advent Health; Universal Orlando Resort; Orange County Public Schools; University of Central Florida; Lockheed Martin; and Darden Restaurants.
  • Space coast area has attracted $1.4 billion in capital investments over the past 6-years and generated 1,800 new jobs in 2017 (WSJ, 2017)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Orlando inherits the same rank being part of Florida.
  • Orlando metro's economy is worth $141 billion in Gross Metro Product and projected to grow to $149 billion in 2019 (USMayors.org, 2018)
  • Together Walt Disney World Resort and Universal Orlando Resort employ 96,000 people and drive tourism (Orlando Economic Partnership)
  • Orlando metro employment growth is at 3.5% and predicted to grow at 2.5% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Dover Shores East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $82k258k

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

Neighborhood: Dover Shores East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9231712

* 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
Cornerstone Charter Academy K-8 Primary Charter 933 52 7
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Boone High School High Magnet 2,763 141 7

Cornerstone Charter Academy K-8

  • Education Level: Primary
  • # of students: 933
  • # of teachers: 52
7
GreatSchools Rating

Cornerstone Charter Academy K-8

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 52
7
GreatSchools Rating

Boone High School

  • Education Level: High
  • # of students: 2,763
  • # of teachers: 141
7
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,214
Property Tax -$409
Property Insurance -$131
Property Management Fees -$129
CASH FLOW
-$253

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$329,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,858

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,588
1$1,5882$1,6303$1,6504$1,6995$1,700
$1,700
RENT COMPS ANALYSIS
  • 1009 Marscastle Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.02
    •  
  • 5021 Natalie St Orlando, FL 1
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1978
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,588
    • $0.95
    •  
  • 5162 Lido St Orlando, FL 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1977
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 4629 Arcie St Orlando, FL 4
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1959
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.04
    •  
  • 1197 Rosemary Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1974
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
PROPERTY LISTING DETAILS
Tania Harmon
1.407.222.3638
Keller Williams At The Parks
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5913542
Last Updated: 01/01/2021
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