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10505 Larson Ct Orlando, FL 32821

3 Beds 2 Baths 1,873 sqft Built 1982

INVESTimate

$290,000

List Price

$1,670

$1,503 - $1,837

Rent Est.

$323,002  ( +11.38%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $154.83
  • 5 Days on Market
  • MLS # : O5885949
  • Updated Date : 08/25/2020 at 07:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,873 sqft
  • Baths : 2 full
Listing Agent

Ralisto, Llc

Listing Agent's Description

Welcome to Williamsburg!!! This home is move-in ready and features new front door and double pane windows, replumbed, all modern appliances including washer and dryer, updated kitchen, bathrooms and flooring. No rear neighbors, the large enclosed L-shaped porch overlooks a vast green open area where you can be at peace and connect with nature. This property sits on a quiet cul-de-sac across the street from the clubhouse of the Lakeridge subdivision, where you will enjoy lawn service, use of the community pool and tennis courts for just $75/month. Great public school district and easy access to everything central Florida has to offer.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Ridge Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $69k266k

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

Neighborhood: Lake Ridge Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8951712

* 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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,070
Property Tax -$332
Property Insurance -$148
HOA -$75
Property Management Fees -$150
CASH FLOW
-$105

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.

$290,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 11.38%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,265

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,662

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6253$1,6704$1,6855$1,825
$1,825
RENT COMPS ANALYSIS
  • 10505 Larson Ct Orlando, 3
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.89
    •  
  • 4904 Lady Bug Pl Orlando, 1
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1981
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 4837 Loretta Ln Orlando, 2
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1981
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.87
    •  
  • 10212 Sw Genesee Ln Ne Orlando, 4
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1981
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.92
    •  
  • 4707 Larchmont Ct Orlando, 5
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1981
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.97
    •  
PROPERTY LISTING DETAILS
Kalex Espinosa
1.407.493.6032
Ralisto, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5885949
Last Updated: 08/25/2020
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