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10764 Wharton Ct Orlando, FL 32821

4 Beds 2 Baths 1,873 sqft Built 1980

$324,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $172.98
  • 34 Days on Market
  • MLS # : O5905252
  • Updated Date : 12/08/2020 at 15:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,873 sqft
  • Baths : 2 full
Listing Agent

Beycome Of Florida Llc

Listing Agent's Description

"Wow! Great opportunity to move right into a fully updated home in a convenient location for commuting to Orlando. Quiet house located on a cul de sac street and minutes from Sea World, Aquatica Water Park and shopping, restaurants and parks. No "Honey-Do" list here! Move in and start making memories with a beautiful screened patio. Worry-free living with brand-new appliances, and a fireplace. Hurry! This gem won't last long..."

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

Neighborhood: Windmill Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $104k253k

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

Neighborhood: Windmill Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211712

* 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
 

$291,600$356,400$324,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,195
Property Tax -$362
Property Insurance -$148
HOA -$50
Property Management Fees -$129
CASH FLOW
-$265

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.

$324,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
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$8.0k

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$91,610

INVESTMENT

$91,610

Down Payment
$81,000
Rehab Estimate
$5,750
Closing Costs
$4,860

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,000
Loan Amount $243,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,058

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,704

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,6503$1,7004$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 10764 Wharton Ct Orlando, FL 1
    • 4 beds 2 baths ∙ 1,873 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,873 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.86
    •  
  • 10235 Manila Bay Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1980
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 10626 Deergrass Ln Orlando, FL 3
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1978
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 10803 Waterford Ct Orlando, FL 4
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1980
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 5939 Petunia Ln Orlando, FL 5
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1992
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
PROPERTY LISTING DETAILS
Herve Barbera
1.844.239.2663
Beycome Of Florida Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5905252
Last Updated: 12/08/2020
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