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11064 Fairhaven Way Orlando, FL 32825

3 Beds 2 Baths 1,516 sqft Built 1993

$272,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $179.42
  • 2 Days on Market
  • MLS # : O5904567
  • Updated Date : 11/21/2020 at 13:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,516 sqft
  • Baths : 2 full
Listing Agent

Empire Network Realty

Listing Agent's Description

Come and see this beautiful home, this house is centrally located close highways, restaurants, shopping centers and much more. The master suite has double sicks, garden tub and separate shower. Vaulted ceilings and a great room, formal dining area with an additional family room, eat in kitchen with breakfast area, stainless steel appliances and a recently painted exterior. Also, the entire house is tiled and backyard has pavers and a fence. This is a great home.......Must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

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
 

$244,800$299,200$272,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,004
Property Tax -$309
Property Insurance -$127
HOA -$28
Property Management Fees -$139
CASH FLOW
-$66

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.

$272,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,830

INVESTMENT

$77,830

Down Payment
$68,000
Rehab Estimate
$5,750
Closing Costs
$4,080

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,000
Loan Amount $204,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,543

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,6503$1,6804$1,6855$1,750
$1,750
RENT COMPS ANALYSIS
  • 11064 Fairhaven Way Orlando, FL 1
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.02
    •  
  • 2926 Saint Augustine Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 1993
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 11020 Felton Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1993
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.00
    •  
  • 3308 Erskine Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2001
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.04
    •  
  • 2849 Saint Augustine Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 1994
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
PROPERTY LISTING DETAILS
Andrea Manzano
1.305.984.0081
Empire Network Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904567
Last Updated: 11/21/2020
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