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11842 Epic Ave Orlando, FL 32832

5 Beds 3 Baths 2,697 sqft Built 2017

$389,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2017
  • Price/Sqft : $144.23
  • 9 Days on Market
  • MLS # : O5901876
  • Updated Date : 10/27/2020 at 16:34
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,697 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Advantage Iii

Listing Agent's Description

Location, location, location! The Storey Park community is conveniently located close to the Orlando International Airport, the 417, the 528, hospitals, shopping, entertainment, restaurants, and A-Rated Schools. Step inside this 5 bedroom, 3 bathroom home and you'll notice the light and bright open floor plan of this 3 years young house. Beautiful ceramic tile throughout the first floor take you right to the heart of the home, your kitchen! The gourmet chef in you will be delighted as you gather around the large granite island- perfect for entertaining guests or spending time with loved ones. The kitchen also features a large pantry, plenty of counter space, and stainless steel appliances. The kitchen and dining room open up to the living room which leads to the outdoor screened-in lanai. Also downstairs you will find one bedroom and a full bath, perfect for guests staying with you. Upstairs you will find the master suite, 3 other bedrooms, the second full bath and a spacious loft. In the master suite you will find stunning tray ceilings, and a large master bathroom that includes a soaker tub, a stand alone shower, and double vanities. Security System and cameras do not convey. Doorbell to be replaced, nest doorbell does not convey. The Storey Park community offers a resort style community pool, 24-hour fitness center and tennis courts, along with nearby dog parks, walking/biking trails and lawn for resident activities. This house sits walkable distance from all of these GREAT amenities! HOA also includes cable TV, high-speed internet and phone package. You don't want to miss this opportunity! Schedule your showing today!

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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: Storey Park

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $105k385k

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

Neighborhood: Storey Park

ZipNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10292276

* 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
Moss Park Elementary School Primary Regular 1,318 96 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Moss Park Elementary School

  • Education Level: Primary
  • # of students: 1,318
  • # of teachers: 96
8
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
 

$350,100$427,900$389,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,435
Property Tax -$510
Property Insurance -$197
HOA -$125
Property Management Fees -$201
CASH FLOW
-$238

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.

$389,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
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-$8.0k-$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$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,394

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2303$2,4004$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 11842 Epic Ave Orlando, FL 2
    • 5 beds 3 baths ∙ 2,697 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,697 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.83
    •  
  • 11451 Great Commission Way Orlando, FL 1
    • 4 beds 4 baths ∙ 2,541 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,541 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 11860 Story Time Dr Orlando, FL 3
    • 6 beds 3 baths ∙ 2,727 Sqft ∙ Built 2017 6 beds 3 baths ∙ 2,727 Sqft ∙ Built 2017
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.88
    •  
  • 11941 Sonnet Ave Orlando, FL 4
    • 4 beds 4 baths ∙ 2,691 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,691 Sqft ∙ Built 2017
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
  • 11574 Biography Way Orlando, FL 5
    • 5 beds 3 baths ∙ 2,727 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,727 Sqft ∙ Built 2017
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.95
    •  
PROPERTY LISTING DETAILS
Desmond Pollock
1.407.334.8664
Keller Williams Advantage Iii
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5901876
Last Updated: 10/27/2020
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