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11917 Fiction Ave Orlando, FL 32832

4 Beds 4 Baths 2,476 sqft Built 2018

$375,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $151.45
  • 7 Days on Market
  • MLS # : O5911593
  • Updated Date : 12/15/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,476 sqft
  • Baths : 3 full , 1 half
Listing Agent

International Team Inc

Listing Agent's Description

This four-bedroom, three and a half bathroom home features an attractive and spacious two-car rear load garage located off the back patio. This perfect floorplan, spread over two floors, provides all the space your family would need. It has a family room, a kitchen with a breakfast nook, a dining room, and a laundry room upstairs. Storey Park is unlike any other in the Orlando area! We're going to have a resort pool, a lap pool, a splash pad, a Jacuzzi spa, a state-of-the-art fitness center, a food pavilion, a tennis court, a large football or soccer playground, walking trails, a dog park, a campground and our own city center, and so much more!! Not to mention all of the schools in A-Rated! So, stop by and see why you will want to be part of the fastest-growing, most sought after area in all of Orlando!

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: 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,384
Property Tax -$584
Property Insurance -$184
HOA -$125
Property Management Fees -$129
CASH FLOW
-$75

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.

$375,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.62%

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-$5.0k$0.0$5.0k$10k$15k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$16,948

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,495

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,330
1$2,3302$2,4003$2,4004$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 11917 Fiction Ave Orlando, FL 1
    • 4 beds 4 baths ∙ 2,476 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,476 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.94
    •  
  • 11826 Fiction Ave Orlando, FL 2
    • 4 beds 4 baths ∙ 2,507 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,507 Sqft ∙ Built 2018
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 11902 Philosophy Way Orlando, FL 3
    • 5 beds 3 baths ∙ 2,455 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,455 Sqft ∙ Built 2018
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.98
    •  
  • 11934 Fiction Ave Orlando, FL 4
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2018
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
  • 11932 Story Time Dr Orlando, FL 5
    • 4 beds 4 baths ∙ 2,507 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,507 Sqft ∙ Built 2019
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
PROPERTY LISTING DETAILS
Josemy Costa
1.321.388.1372
International Team Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5911593
Last Updated: 12/15/2020
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