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10911 Lanesboro Ct Orlando, FL 32825

3 Beds 2 Baths 1,529 sqft Built 1992

INVESTimate

$280,000

List Price

$1,480

$1,332 - $1,628

Rent Est.

$305,452  ( +9.09%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $183.13
  • 8 Days on Market
  • MLS # : O5886269
  • Updated Date : 08/25/2020 at 10:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,529 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Advantage 2 Realty

Listing Agent's Description

Welcome home to this fabulous 3 bedroom, 2 bath home located in the desirable Andover Lakes community!! This charming home includes a family room AND living room, VAULTED CEILINGS, SPLIT BEDROOM plan, easy maintenance TILE and LAMINATE FLOORING and has FRESH INTERIOR PAINT. The kitchen offers LIGHT CABINETRY, STAINLESS APPLIANCES, BREAKFAST BAR, CLOSET PANTRY and a NEW, MODERN BACKSPLASH. Features in the master bedroom include an en suite bathroom with GARDEN TUB and separate shower. The two other bedrooms are split from the master and one even has a bay window. The community of Andover Lakes is zoned for **highly rated schools** including the "A" rated Andover Lakes Elementary School located in the neighborhood!! LOW HOA FEES. FULLY FENCED. Minutes to 417, 408 and 528. Desirable location only 15 minutes from Orlando International Airport and the popular Waterford Lakes Town Center!! Around the corner from Publix and Starbucks!! This home won't last long. Make an appointment to come see it today!! **Be sure to check out the 3-D, Interactive Tour**!!

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: Andover Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k331k

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

Neighborhood: Andover Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9562089

* 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
Andover Elementary School Primary Regular 786 53 7
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Andover Elementary School

  • Education Level: Primary
  • # of students: 786
  • # of teachers: 53
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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,033
Property Tax -$318
Property Insurance -$127
HOA -$25
Property Management Fees -$133
CASH FLOW
-$157

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.

$280,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 9.09%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$4,262

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,326

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,4003$1,4804$1,5005$1,700
$1,700
RENT COMPS ANALYSIS
  • 10911 Lanesboro Ct Orlando, 3
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.97
    •  
  • 2416 Cypress Trace Cir Orlando, 1
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2002
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.79
    •  
  • 10947 Lanesboro Ct Orlando, 2
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1992
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 10196 Andover Point Cir Orlando, 4
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2003
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
  • 10909 Norcross Cir Orlando, 5
    • 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1992
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Ray Lopez
1.407.697.8298
Keller Williams Advantage 2 Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5886269
Last Updated: 08/25/2020
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