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11824 Old Glory Dr Orlando, FL 32837

3 Beds 2 Baths 1,916 sqft Built 2003

$334,990

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $174.84
  • 3 Days on Market
  • MLS # : S5047748
  • Updated Date : 03/13/2021 at 08:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,916 sqft
  • Baths : 2 full
Listing Agent

G World Properties

Listing Agent's Description

Stunning Heritage Village Home just hit the market in Orlando!! This beautiful home features 3 bedrooms, 2 bathrooms, and 1,926 sq ft of living space. It features a wide-open concept for the family to enjoy. The kitchen comes equipped with all appliances, plenty of cabinets, also an island for those family reunions. Next to it give you access to an office workspace for those looking to work from home. The living room is equipped with a wiring connection to get your surround sound and home theater experience. During the summer, entertain in style with a massive back door porch for space for a grill and a fenced backyard with space enough for the pool of your dreams. The home conveniently has an AC installed in 2017, a vinyl fence installed in 2016, a brand new roof installed in 2020, and a state-of-the-art Tesla Solar System installed in 2016 that practically eliminates your power bill. The home is at the cozy end of the cul-de-sac. The new owner will be at just walking distance from grocery, retail, hardware, and pharmacy stores. Right in the middle of major highways like 417, 528, and Florida Turnpike. Come and see it before it's gone! It will be ready to show Tuesday, March 16th. (Solar Panels are transferable and pay $272.00 per month. New buyer needs to qualify for the system).

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: Heritage Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k324k

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

Neighborhood: Heritage Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10201930

* 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
John Young Elementary School Primary Regular 713 51 6
Freedom Middle School Middle Regular 1,040 58 3
Freedom High School High Regular 3,281 149 6

John Young Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 51
6
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
 

$301,491$368,489$334,990

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,164
Property Tax -$375
Property Insurance -$151
HOA -$33
Property Management Fees -$129
CASH FLOW
-$221

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.

$334,990

PROJECTED PRICE

$1,630

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,522

INVESTMENT

$94,522

Down Payment
$83,748
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,748
Loan Amount $251,243
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$3,920

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6753$1,7004$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 11824 Old Glory Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.85
    •  
  • 12324 Beacontree Way Orlando, FL 2
    • 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 1995
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.84
    •  
  • 2018 Norfield Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 2,093 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,093 Sqft ∙ Built 1987
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 11959 Frieth Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 1991
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 2386 Whispering Maple Dr Orlando, FL 5
    • 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1987
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
PROPERTY LISTING DETAILS
Luis Colon, Jr
1.407.748.2765
G World Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5047748
Last Updated: 03/13/2021
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