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1124 Royal Marquis Cir Ocoee, FL 34761

3 Beds 2 Baths 1,362 sqft Built 2004

$254,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $187.15
  • 5 Days on Market
  • MLS # : T3273447
  • Updated Date : 11/04/2020 at 15:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,362 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage

Listing Agent's Description

VACANT! Welcome home! Gorgeous open and bright single-story home! Brand new stainless steel appliance package. Open floor plan with the living dining kitchen eating space in the kitchen and tile throughout Kitchen design has plenty of cabinet space. Great location in Ocoee right between 429 and 408. Tour today!

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: Reserve

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k287k

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

Neighborhood: Reserve

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9361932

* 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
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$940
Property Tax -$322
Property Insurance -$117
HOA -$41
Property Management Fees -$144
CASH FLOW
$35

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.

$254,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$13,936

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,294

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1003$1,5404$1,6005$1,725
$1,725
RENT COMPS ANALYSIS
  • 1124 Royal Marquis Cir Ocoee, FL 4
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.17
    •  
  • 1514 Prairie Lake Blvd Ocoee, FL 1
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1986
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.84
    •  
  • 1417 Prairie Lake Blvd Ocoee, FL 2
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.88
    •  
  • 2381 Cory Ct Ocoee, FL 3
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1994
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.06
    •  
  • 2799 Cullens Ct Ocoee, FL 5
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1997
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.02
    •  
PROPERTY LISTING DETAILS
Rob Jones
1.813.534.6326
Offerpad Brokerage
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273447
Last Updated: 11/04/2020
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