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1108 Boreas Dr Orlando, FL 32822

3 Beds 2 Baths 1,495 sqft Built 1979

$270,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $180.60
  • 3 Days on Market
  • MLS # : O5914218
  • Updated Date : 01/02/2021 at 01:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,495 sqft
  • Baths : 2 full
Listing Agent

Empire Network Realty

Listing Agent's Description

Location, Location, Location!! Welcome home to this adorable house located in the Bacchus Gardens Neighborhood, No HOA. Easy access to 528 Beeline Rd and 417. Call me to set up an appointment today.

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: Bacchus Gardens

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Bacchus Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8751712

* 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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$996
Property Tax -$307
Property Insurance -$125
Property Management Fees -$129
CASH FLOW
$72

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.

$270,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.3%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$23,380

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,648

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,6303$1,6994$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 1108 Boreas Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.09
    •  
  • 8259 Imber St Orlando, FL 1
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1979
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.91
    •  
  • 742 Royalton Rd Orlando, FL 3
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1983
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.06
    •  
  • 1407 Prestwick Ct Orlando, FL 4
    • 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1975
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.17
    •  
  • 7741 Danu Dr Orlando, FL 5
    • 4 beds 2 baths ∙ 1,461 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,461 Sqft ∙ Built 1979
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.27
    •  
PROPERTY LISTING DETAILS
Gloria Rivera Mendez
1.321.527.8156
Empire Network Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5914218
Last Updated: 01/02/2021
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