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117 N Hudson St Orlando, FL 32835

3 Beds 2 Baths 1,308 sqft Built 2004

INVESTimate

$233,000

List Price

$1,350

$1,215 - $1,485

Rent Est.

$262,009  ( +12.45%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $178.13
  • 7 Days on Market
  • MLS # : P4912076
  • Updated Date : 08/21/2020 at 11:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,308 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Smart 1

Listing Agent's Description

Great income producing or first time home buyers home, centrally located, well maintained.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Orlovista

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $54k253k

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

Neighborhood: Orlovista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8081712

* 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
 

$209,700$256,300$233,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$860
Property Tax -$265
Property Insurance -$114
Property Management Fees -$122
CASH FLOW
-$10

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.

$233,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.45%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,495

INVESTMENT

$67,495

Down Payment
$58,250
Rehab Estimate
$5,750
Closing Costs
$3,495

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$860

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,250
Loan Amount $174,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,465

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,445

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,335
1$1,3352$1,3503$1,3504$1,3955$1,539
$1,539
RENT COMPS ANALYSIS
  • 117 N Hudson St Orlando, 3
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 5434 Cedar Ln Orlando, 1
    • 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 1998
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $1.13
    •  
  • 5422 Cedar Ln Orlando, 2
    • 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 1991
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.14
    •  
  • 416 Hope Cir Orlando, 4
    • 4 beds 2 baths ∙ 1,396 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,396 Sqft ∙ Built 2002
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 314 S Observatory Dr Orlando, 5
    • 4 beds 2 baths ∙ 1,344 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,344 Sqft ∙ Built 2007
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,539
    • $1.15
    •  
PROPERTY LISTING DETAILS
Lucy Martinez
1.863.521.4156
Keller Williams Realty Smart 1
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: P4912076
Last Updated: 08/21/2020
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