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10141 Sweetleaf St Orlando, FL 32827

4 Beds 2 Baths 2,135 sqft Built 2004

$417,500

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $195.55
  • 2 Days on Market
  • MLS # : O5906129
  • Updated Date : 11/15/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,135 sqft
  • Baths : 2 full
Listing Agent

Bhhs Florida Realty

Listing Agent's Description

Welcome to NorthLake Park at Lake Nona. Offered for sale is a highly sought after single story home across the street from one of the many parks in the neighborhood. A must see in this tranquil and beautiful area of Lake Nona. Residents of NorthLake Park enjoy private access to a picnic area and dock on Lake Nona with a non motorized watercraft launch. HOA fees include membership in the local YMCA just a short walk away. NorthLake Park Community Elementary School, also just a short walk away, is a shared use facility with the YMCA. The yard, one of the larger in the neighborhood could easily accommodate a pool with plenty of room left over for entertaining. This home, lovingly cared for by the original owner, has had the following upgrades: Pella storm door unit at the front door, a security system, a sound system throughout, energy efficient windows throughout, an additional parking pad, silent garage door openers, and fresh exterior paint this year (2020). A new HVAC system was installed in 2018 with a 10 year transferable warranty. Updated appliances include refrigerator (2017), washer and dryer (2018), and range, microwave, and dishwasher (2020, and these items have a 10 year major component transferable warranty).

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MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Northlake Park at Lake Nona

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $105k399k

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

Neighborhood: Northlake Park at Lake Nona

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10292542

* 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
Cornerstone Charter Academy High School High Charter 372 21 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

Cornerstone Charter Academy High School

  • Education Level: High
  • # of students: 372
  • # of teachers: 21
7
GreatSchools Rating
 

$375,750$459,250$417,500

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,540
Property Tax -$542
Property Insurance -$164
HOA -$108
Property Management Fees -$207
CASH FLOW
-$261

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.

$417,500

PROJECTED PRICE

$2,300

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.3%
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-$8.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,388

INVESTMENT

$116,388

Down Payment
$104,375
Rehab Estimate
$5,750
Closing Costs
$6,263

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,540

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,375
Loan Amount $313,125
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,683

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,055

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9954$2,0505$2,300
$2,300
RENT COMPS ANALYSIS
  • 10141 Sweetleaf St Orlando, FL 5
    • 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.08
    •  
  • 9956 Cypress Vine Dr Orlando, FL 1
    • 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2004
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
  • 9238 Kensington Row Ct Orlando, FL 2
    • 3 beds 2 baths ∙ 2,085 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,085 Sqft ∙ Built 2006
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 9437 Leland Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 2005
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
  • 9985 Cypress Vine Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2004
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.00
    •  
PROPERTY LISTING DETAILS
Hardy Edwards, Iii
1.213.924.7010
Bhhs Florida Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906129
Last Updated: 11/15/2020
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