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1102 Lake Blanche Dr Orlando, FL 32808

3 Beds 2 Baths 1,265 sqft Built 1984

$239,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $188.93
  • 3 Days on Market
  • MLS # : O5904558
  • Updated Date : 11/07/2020 at 01:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,265 sqft
  • Baths : 2 full
Listing Agent

Florida Real Estate Properties

Listing Agent's Description

Beautiful completely remodeled home on large nearly 3/4 acre lot. Unique design high ranch style home with 2-car side entry garage located under the 2nd floor. No expense has been spared. New roof, new 42 inch kitchen cabinets with quartz counter tops. Ceramic tile floors on first floor, Wood stairs and vinyl plank flooring on second floor. All with upgraded 5 1/4 inch baseboards. Recessed lighting in Living room, kitchen and dining room. Ceiling fans in all bed rooms. Home freshly painted with custom colors inside and out. Huge driveway that can hold up to 8 cars. This one won't last. Just bring your furniture! ,

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 Blanche Terrace

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Lake Blanche Terrace

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
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$882
Property Tax -$272
Property Insurance -$112
Property Management Fees -$110
CASH FLOW
-$155

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.

$239,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,799

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $829

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$9253$9754$9755$1,220
$1,220
RENT COMPS ANALYSIS
  • 1102 Lake Blanche Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.96
    •  
  • 412 Fred St Orlando, FL 1
    • 4 beds 2 baths ∙ 1,360 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,360 Sqft ∙ Built 2002
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.66
    •  
  • 2127 Ashland Blvd Orlando, FL 2
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1969
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $925
    • $0.63
    •  
  • 1019 Neville Ln Orlando, FL 3
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1991
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.73
    •  
  • 6318 Laurelwood Ct Orlando, FL 4
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1983
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.60
    •  
PROPERTY LISTING DETAILS
Joyce Sanders
1.407.234.4680
Florida Real Estate Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904558
Last Updated: 11/07/2020
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