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PROPERTY INFO
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).
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northlake Park at Lake Nona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$116,388
LOAN DETAILS
$1,540
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $104,375 |
| Loan Amount | $313,125 |
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
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PROPERTY LISTING DETAILS
1.213.924.7010
Bhhs Florida Realty
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5906129
Last Updated: 11/15/2020
