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11608 Carmody Ct Orlando, FL 32837

3 Beds 2 Baths 1,401 sqft Built 1988

$299,999

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $214.13
  • 4 Days on Market
  • MLS # : O5927905
  • Updated Date : 03/06/2021 at 14:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,401 sqft
  • Baths : 2 full
Listing Agent

Florida Realty Investments

Listing Agent's Description

Amazing Pool Home on .26 Acre Lot on Cul-De-Sac! Features Include: Remodeled Kitchen Including Solid Surface Counters and Stainless Appliances (2019) * New Wood Look Vinyl Floors * Fireplace * Vaulted Ceilings * Master Bedroom/Bath Includes Walk In Closet, Dual Sinks, Giant Walk In Shower with Dual Shower Heads * Split Bedroom Floorplan * Remodeled Guest Bath * Huge Screened Patio, Salt Pool and Jacuzzi (New Screen 2018) with Brand New Propane Heater * Roof 2008 * Replumbed 2020 * Water Heater 2020 * Irrigation System * New Paint * HIGHEST AND BEST BY SATURDAY MARCH 6 MIDNIGHT.

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: Whisper Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Whisper Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8951712

* 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
Waterbridge Elementary School Primary Regular 1,137 72 5
Freedom Middle School Middle Regular 1,040 58 3
Freedom High School High Regular 3,281 149 6

Waterbridge Elementary School

  • Education Level: Primary
  • # of students: 1,137
  • # of teachers: 72
5
GreatSchools Rating

Freedom Middle School

  • Education Level: Middle
  • # of students: 1,040
  • # of teachers: 58
3
GreatSchools Rating

Freedom High School

  • Education Level: High
  • # of students: 3,281
  • # of teachers: 149
6
GreatSchools Rating
 

$269,999$329,999$299,999

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,042
Property Tax -$336
Property Insurance -$120
HOA -$32
Property Management Fees -$129
CASH FLOW
-$88

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.

$299,999

PROJECTED PRICE

$1,570

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,729

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,394

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5704$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 11608 Carmody Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.12
    •  
  • 11836 Whispering Tree Ave #6 Orlando, FL 1
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1985
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 12217 Medan St Orlando, FL 2
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1984
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 2714 Mint Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1989
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 11630 Darlington Dr Orlando, FL 5
    • 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1989
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Gayle Stanley
1.407.579.3583
Florida Realty Investments
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5927905
Last Updated: 03/06/2021
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