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10168 Lovegrass Ln Orlando, FL 32832

4 Beds 3 Baths 2,936 sqft Built 2017

$409,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $139.31
  • 6 Days on Market
  • MLS # : O5910423
  • Updated Date : 12/08/2020 at 12:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,936 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bric Realty Llc

Listing Agent's Description

This spacious 2 story home nestled in the finely landscaped community of the Oaks at Moss Park is ready to move in now and a must see! The home includes great finishes from cabinetry to granite in the kitchens and the bathrooms. Enjoy a serene pond view from the backyard in a home that feels Located near the Medical City, Lake Nona and nearby highways and airport, this home is a quick commute to most places in Orlando. The community features parks, community pools, cable, and internet.

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

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
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Moss Park Elementary School

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

$368,100$449,900$409,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,509
Property Tax -$483
Property Insurance -$212
HOA -$160
Property Management Fees -$129
CASH FLOW
-$252

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.

$409,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.5%
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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,135

INVESTMENT

$114,135

Down Payment
$102,250
Rehab Estimate
$5,750
Closing Costs
$6,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,250
Loan Amount $306,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,089

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,444

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,240
1$2,2402$2,2503$2,4004$2,4955$2,500
$2,500
RENT COMPS ANALYSIS
  • 10168 Lovegrass Ln Orlando, FL 1
    • 4 beds 3 baths ∙ 2,936 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,936 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.76
    •  
  • 11342 Great Commission Way Orlando, FL 2
    • 4 beds 4 baths ∙ 2,824 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,824 Sqft ∙ Built 2007
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 10313 Lovegrass Ln Orlando, FL 3
    • 4 beds 3 baths ∙ 2,936 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,936 Sqft ∙ Built 2018
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
  • 9856 Magnolia Woods Blvd Orlando, FL 4
    • 4 beds 3 baths ∙ 2,937 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,937 Sqft ∙ Built 2016
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.85
    •  
  • 12273 Great Commission Way Orlando, FL 5
    • 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2014
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.86
    •  
PROPERTY LISTING DETAILS
Sangita Khatri
1.407.497.7312
Bric Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5910423
Last Updated: 12/08/2020
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