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10985 History Ave Orlando, FL 32832

5 Beds 3 Baths 2,461 sqft Built 2017

$380,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $154.41
  • 6 Days on Market
  • MLS # : O5903541
  • Updated Date : 11/05/2020 at 08:45
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,461 sqft
  • Baths : 3 full
Listing Agent

Wendy Morris Realty

Listing Agent's Description

This exceptional 5 bedroom home shows like a new house. The floor plan has generous living area with open plan kitchen, dining and family room space on the first floor. One guest bedroom downstairs and the master and 3 further bedrooms upstairs. The laundry room is also located upstairs for additional convenience. The covered front and back porches, in addition to the landscaped yard, make it easy to enjoy the natural Florida surroundings. Storey Park is unlike any other in the Orlando area It has a resort pool, lap pool, 2 splash pads, a Jacuzzi spa, a state of the art fitness center, a food pavilion, tennis court, a big playing field for football or soccer games, walking trails, dog park, camp site and our own town center and so much more. HOA fee includes cable and high speed internet.

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: Storey Park

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $105k385k

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

Neighborhood: Storey Park

ZipNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10292276

* 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
Moss Park Elementary School Primary Regular 1,318 96 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Moss Park Elementary School

  • Education Level: Primary
  • # of students: 1,318
  • # of teachers: 96
8
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
 

$342,000$418,000$380,000

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 -$1,402
Property Tax -$482
Property Insurance -$183
HOA -$138
Property Management Fees -$203
CASH FLOW
-$158

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.

$380,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$7,687

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
  • $0.91

    LIST RENT PER SQFT
  • $2,473

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4003$2,4004$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 10985 History Ave Orlando, FL 1
    • 5 beds 3 baths ∙ 2,461 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,461 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.91
    •  
  • 11826 Fiction Ave Orlando, FL 2
    • 4 beds 4 baths ∙ 2,507 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,507 Sqft ∙ Built 2018
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 11902 Philosophy Way Orlando, FL 3
    • 5 beds 3 baths ∙ 2,455 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,455 Sqft ∙ Built 2018
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.98
    •  
  • 11924 Story Time Dr Orlando, FL 4
    • 5 beds 3 baths ∙ 2,461 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,461 Sqft ∙ Built 2018
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.02
    •  
  • 11802 Ginsberg Pl Orlando, FL 5
    • 5 beds 3 baths ∙ 2,455 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,455 Sqft ∙ Built 2016
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.06
    •  
PROPERTY LISTING DETAILS
Wendy Morris
1.407.575.5392
Wendy Morris Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5903541
Last Updated: 11/05/2020
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