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10553 Larissa St Orlando, FL 32821

3 Beds 2 Baths 1,873 sqft Built 1982

$278,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $148.42
  • 3 Days on Market
  • MLS # : S5044826
  • Updated Date : 01/09/2021 at 01:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,873 sqft
  • Baths : 2 full
Listing Agent

La Rosa Realty The Elite Llc

Listing Agent's Description

Come see this beautiful centrally located Orlando home! This quite and tranquil community is only 5 minutes away from Seaworld, 10-15 minutes from Universal Studios and all Disney parks. Need to take a flight? Orlando International Airport is just a 13 minute ride away! The Open floorplan is a great entertaining space for you, family and friends. Large master bedroom with it's own outdoor access where a relaxing Jacuzzi awaits you making this the perfect space to end the day. On your visit look for the upgraded walk in closets and the included with the sale a space saving murphy bed. The very large corner lot with no rear neighbors and with an Updated and newly installed (2020) Granite top kitchen will make cooking a pleasure. 2019 installed roof and newer A/C and new double pane windows makes this home a highly efficient and money saving smart investment! The community includes grounds maintenance so no need to spend your time mowing the lawn leaving all your free time to enjoying the community pool, tennis courts, club house, library/reading room and dog park for your fur babies :)

SEE MORE

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: 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
 

$250,200$305,800$278,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$966
Property Tax -$311
Property Insurance -$148
HOA -$75
Property Management Fees -$129
CASH FLOW
$51

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.

$278,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 11.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$79,420

INVESTMENT

$79,420

Down Payment
$69,500
Rehab Estimate
$5,750
Closing Costs
$4,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$966

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,500
Loan Amount $208,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,638

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,672

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,6803$1,7204$1,8255$1,895
$1,895
RENT COMPS ANALYSIS
  • 10553 Larissa St Orlando, FL 2
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.90
    •  
  • 5005 Lindsay Ct Orlando, FL 1
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1982
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.67
    •  
  • 10322 Lollipop Ln Orlando, FL 3
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1981
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.92
    •  
  • 4707 Larchmont Ct Orlando, FL 4
    • 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
    •  
  • 10762 Larissa St Orlando, FL 5
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1983
    property image
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.01
    •  
PROPERTY LISTING DETAILS
Kenny Medina
1.407.412.4190
La Rosa Realty The Elite Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5044826
Last Updated: 01/09/2021
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