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10528 Cherry Oak Cir Orlando, FL 32817

5 Beds 4 Baths 2,550 sqft Built 1994

$340,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1994
  • Price/Sqft : $133.33
  • 9 Days on Market
  • MLS # : O5901819
  • Updated Date : 10/31/2020 at 20:21
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,550 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Residential Re

Listing Agent's Description

WOW! What a great house! Five bedrooms and 3-1/2 baths plus a 2-car garage. Master bedroom is upstairs and another Master is downstairs. Formal living room, dining room, and family room are all inviting... and there is an eat-in kitchen too. The fenced backyard has many fruit trees and is very private. Suncrest subdivision is convenient to UCF and Full Sail, shopping, restaurants, and the expressway. Low Homeowner's fee of $95 per quarter. Some furniture negotiable separately.

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MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Suncrest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k331k

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

Neighborhood: Suncrest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7552089

* 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
Arbor Ridge School Primary Magnet 764 56 8
Arbor Ridge School Middle Magnet 764 56 8
Cornerstone Charter Academy High School High Charter 372 21 7

Arbor Ridge School

  • Education Level: Primary
  • # of students: 764
  • # of teachers: 56
8
GreatSchools Rating

Arbor Ridge School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 56
8
GreatSchools Rating

Cornerstone Charter Academy High School

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

$306,000$374,000$340,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,254
Property Tax -$387
Property Insurance -$189
HOA -$32
Property Management Fees -$203
CASH FLOW
$186

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.

$340,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 6.4%
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$0.0$5.0k$10k$15k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$37,081

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,416

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2504$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 10528 Cherry Oak Cir Orlando, FL 3
    • 5 beds 4 baths ∙ 2,550 Sqft ∙ Built 1994 5 beds 4 baths ∙ 2,550 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
  • 2937 Krista Key Cir Orlando, FL 1
    • 5 beds 3 baths ∙ 2,392 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,392 Sqft ∙ Built 1997
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 4032 Bolinas Ct Orlando, FL 2
    • 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2000
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
  • 2868 University Acres Dr Orlando, FL 4
    • 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 1999
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 2600 University Acres Dr Orlando, FL 5
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1997
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.00
    •  
PROPERTY LISTING DETAILS
Becky Nagel
1.407.568.8980
Coldwell Banker Residential Re
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5901819
Last Updated: 10/31/2020
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