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11861 Fiction Ave Orlando, FL 32832

3 Beds 3 Baths 1,994 sqft Built 2018

$340,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $170.51
  • 7 Days on Market
  • MLS # : O5906500
  • Updated Date : 11/19/2020 at 09:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,994 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fusilier Management Group

Listing Agent's Description

Move in Ready 3/2.5 Single Family ENERGY EFFICIENT HOME with SOLAR PANELS,SMART HOUSE! featuring a rear covered patio leading to an oversized 2 car garage. Ceramic tiles throughout the first floor and carpets only upstairs. The fully equipped kitchen with walk in pantry overlooks the dining room and leads to the laundry room with washer and dryer included. All bedrooms upstair with a jack and jill bathroom and a master bath that features a garden tub and stand up shower. Storey Park features resort style community pool with fitness club and includes basic cable and high speed internet to their residents. All A graded schools and just a short drive to Orlando International Airport, Nemours Hospital, VA Hospital, Drive Shack, United States Tennis Association (USTA), Lake Nona Adventure Park (water park), UCF College of Medicine, restaurants, supermarkets and Lake Nona's town center with lots of entertainment for the family. Schedule a tour today!

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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: 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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,254
Property Tax -$439
Property Insurance -$155
HOA -$264
Property Management Fees -$195
CASH FLOW
-$137

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.

$340,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.64%

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-$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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,006

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,168

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1703$2,2004$2,3005$2,349
$2,349
RENT COMPS ANALYSIS
  • 11861 Fiction Ave Orlando, FL 2
    • 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.09
    •  
  • 11854 Sonnet Ave Orlando, FL 1
    • 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2016
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.05
    •  
  • 11618 Mystery Ln Orlando, FL 3
    • 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 2016
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.03
    •  
  • 11868 Fiction Ave Orlando, FL 4
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2018
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.16
    •  
  • 11634 Mystery Ln Orlando, FL 5
    • 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 2016
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,349
    • $1.11
    •  
PROPERTY LISTING DETAILS
Katherine Guzman Rivas
1.407.476.0476
Fusilier Management Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906500
Last Updated: 11/19/2020
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