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11211 Rapallo Ln Windermere, FL 34786

3 Beds 3 Baths 1,844 sqft Built 2002

$359,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $194.69
  • 5 Days on Market
  • MLS # : S5043442
  • Updated Date : 12/03/2020 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,844 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bellew Real Estate

Listing Agent's Description

A STUNNING, IMMACULATE HOME AT A BARGAIN PRICE IN THE GREAT BELMERE VILLAGE COMMUNITY! A magnificent modern 3 bedroom, 2 ½ bathroom, 1,844 sq. ft. home with two car garage at a bargain price in a very prestigious community. Belmere Village is an immaculately maintained community with mature tree lined streets and convenient to most of what Central Florida has to offer. This stunning home oozes with quality. Upon entry is a welcoming foyer leading to the formal living room with almost 12 ft. high ceiling and double French doors leading to the screen enclosed patio overlooking the private and mature landscaped rear yard. The formal dining room is adjacent to this and had direct access to the fully equipped kitchen with granite counters and an abundance of storage cabinets. All kitchen appliance are included in this sale. The layout is a kitchen/family room combination which is conducive for comfortable family living. The huge master bedroom suite includes a full bathroom with walk-in shower and separate garden tub. The remaining bedrooms and bathrooms are all bright, airy rooms. This is a well presented move in ready home that has to be seen to be appreciated.

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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: Belmere Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $110k508k

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

Neighborhood: Belmere Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10293062

* 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
Lake Whitney Elementary School Primary Regular 598 40 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Lake Whitney Elementary School

  • Education Level: Primary
  • # of students: 598
  • # of teachers: 40
9
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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,325
Property Tax -$402
Property Insurance -$146
HOA -$110
Property Management Fees -$129
CASH FLOW
-$22

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.

$359,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.4%
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$0.0$5.0k$10k$15k

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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$22,773

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,899

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,8954$2,0905$2,200
$2,200
RENT COMPS ANALYSIS
  • 11211 Rapallo Ln Windermere, FL 4
    • 3 beds 3 baths ∙ 1,844 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,844 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.13
    •  
  • 1357 Glenwick Dr Windermere, FL 1
    • 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 2002
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 460 Mickleton Loop Ocoee, FL 2
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 1997
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 276 Longhirst Loop Ocoee, FL 3
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1998
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.00
    •  
  • 1047 Lascala Dr Windermere, FL 5
    • 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2003
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.19
    •  
PROPERTY LISTING DETAILS
Eugene Bellew
1.407.452.2448
Bellew Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5043442
Last Updated: 12/03/2020
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