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10413 Sable Ridge Ct Orlando, FL 32825

4 Beds 2 Baths 1,590 sqft Built 1988

$320,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $201.26
  • 3 Days on Market
  • MLS # : O5906331
  • Updated Date : 11/21/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,590 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage

Listing Agent's Description

Here is a beautifully updated 4/2 home located in Cypress Springs in Orlando. The home is located in a cul-de-sac and also backs up to a forest preserve. The solar panels were recently installed and able to be transferred to the new owner. The pool and spa are salt water for easy maintenance. The home has also been replumbed. I love the kitchen!! The yard has irrigation in place and vinyl fence to allow you pets to run free. It just feels like YOUR new home when you step foot inside!

SEE MORE

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: Cypress Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $105k350k

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

Neighborhood: Cypress Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9582089

* 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
Cypress Springs Elementary School Primary Regular 758 53 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Cypress Springs Elementary School

  • Education Level: Primary
  • # of students: 758
  • # of teachers: 53
9
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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,181
Property Tax -$364
Property Insurance -$131
HOA -$52
Property Management Fees -$149
CASH FLOW
-$217

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.

$320,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

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

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,236

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,407

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2503$1,4954$1,6605$1,800
$1,800
RENT COMPS ANALYSIS
  • 10413 Sable Ridge Ct Orlando, FL 4
    • 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.04
    •  
  • 10716 Spring Brook Ln Orlando, FL 1
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1991
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.84
    •  
  • 1748 Terra Cota Ct Orlando, FL 2
    • 3 beds 3 baths ∙ 1,431 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,431 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.87
    •  
  • 940 Islander Ave Orlando, FL 3
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1994
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 1818 Branchwater Trl Orlando, FL 5
    • 4 beds 2 baths ∙ 1,935 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,935 Sqft ∙ Built 1993
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
PROPERTY LISTING DETAILS
Chuck Maniatis, Jr
1.407.402.1465
Offerpad Brokerage
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906331
Last Updated: 11/21/2020
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