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1129 Mission Ridge Ct Orlando, FL 32835

4 Beds 3 Baths 1,969 sqft Built 1990

$394,900

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $200.56
  • 3 Days on Market
  • MLS # : T3283337
  • Updated Date : 01/08/2021 at 18:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,969 sqft
  • Baths : 3 full
Listing Agent

Offerpad Brokerage

Listing Agent's Description

VACANT! Large corner lot with high privacy fence and enough room for a basketball court! Located in the fairway Cove community off of Hiawassee. Large master with crown molding throughout large his and her closets gourmet bath with oversize master shower and a Jacuzzi tub. Multiple sitting areas including sunken living room with a double sided fireplace into the dining room. Multiple large bedrooms plus additional bedroom that could be used as an office. Gourmet kitchen and additional fireplace in family room with granite countertops and stainless steel appliances. Custom brick paver pool deck with water features and bullnose brick edge 2/2 bath one specifically for pool area. 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: Metro West

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $87k253k

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

Neighborhood: Metro West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10282458

* 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
 

$355,410$434,390$394,900

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,372
Property Tax -$491
Property Insurance -$154
HOA -$115
Property Management Fees -$129
CASH FLOW
-$40

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.

$394,900

PROJECTED PRICE

$2,220

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 6.3%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,399

INVESTMENT

$110,399

Down Payment
$98,725
Rehab Estimate
$5,750
Closing Costs
$5,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,725
Loan Amount $296,175
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$15,682

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,949

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9004$2,2005$2,220
$2,220
RENT COMPS ANALYSIS
  • 1129 Mission Ridge Ct Orlando, FL 5
    • 4 beds 3 baths ∙ 1,969 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,969 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.13
    •  
  • 7718 Rollingridge Ct Orlando, FL 1
    • 3 beds 2 baths ∙ 1,953 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,953 Sqft ∙ Built 1990
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 7111 Hiawassee Overlook Dr Orlando, FL 2
    • 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 2001
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 6434 Haughton Ln Orlando, FL 3
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1989
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.08
    •  
  • 7200 Bay Club Way Orlando, FL 4
    • 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 1994
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.10
    •  
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 #: T3283337
Last Updated: 01/08/2021
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