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10126 Lovegrass Ln Orlando, FL 32832

4 Beds 3 Baths 2,145 sqft Built 2017

$399,900

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $186.43
  • 4 Days on Market
  • MLS # : O5923041
  • Updated Date : 02/11/2021 at 22:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,145 sqft
  • Baths : 3 full
Listing Agent

Voss Realty Inc

Listing Agent's Description

WALK ON IN AND CALL IT HOME! This beautiful 4 bed, 3 full bath with an AMAZING WATER VIEW is ready for its next owner! Only 4 years new, this house is located in the Oaks at Moss Park where Cable and Internet are INCLUDED and there is NO CDD!! Upon entering this home, you are greeted by a nice foyer, 2 bedrooms on your left with a full bathroom in between, then to your right is a great built in drop zone, another full bath and another bedroom. The kitchen is open to the family room and dining room, with a nice covered patio to enjoy evening sunsets. The master suite is very large with a HUGE walk in closet, tub and shower and dual sinks, PLUS the bathroom connects to the laundry room for easy access. Situated in Moss Park and conveniently located to the 417, 528, Lake Nona, UCF, Medical City, Orlando International Airport and more PLUS zoned for A Rated Schools, you must schedule your private showing today before this home is SOLD!

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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

Zip Code: 32832

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $105k385k

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

Zip Code: 32832

ZipNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10292276

* 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
Moss Park Elementary School Primary Regular 1,318 96 8
Innovation Middle School Middle Unknown NA
Lake Nona High School High Regular 2,266 108 6

Moss Park Elementary School

  • Education Level: Primary
  • # of students: 1,318
  • # of teachers: 96
8
GreatSchools Rating

Innovation Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lake Nona High School

  • Education Level: High
  • # of students: 2,266
  • # of teachers: 108
6
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,389
Property Tax -$447
Property Insurance -$164
HOA -$165
Property Management Fees -$129
CASH FLOW
-$135

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.

$399,900

PROJECTED PRICE

$2,160

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,134

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0953$2,0954$2,1455$2,160
$2,160
RENT COMPS ANALYSIS
  • 10126 Lovegrass Ln Orlando, FL 5
    • 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.01
    •  
  • 10042 Lovegrass Ln Orlando, FL 1
    • 3 beds 2 baths ∙ 1,979 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,979 Sqft ∙ Built 2017
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
  • 10028 Lovegrass Ln Orlando, FL 2
    • 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2017
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.99
    •  
  • 10036 Lovegrass Ln Orlando, FL 3
    • 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2017
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.99
    •  
  • 10211 Lovegrass Ln Orlando, FL 4
    • 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2018
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.99
    •  
PROPERTY LISTING DETAILS
Lindsay Kaye Voss
1.407.456.0777
Voss Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5923041
Last Updated: 02/11/2021
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