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11975 Old Glory Dr Orlando, FL 32837

3 Beds 2 Baths 1,697 sqft Built 2003

$284,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $167.88
  • 2 Days on Market
  • MLS # : T3273979
  • Updated Date : 11/03/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,697 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage

Listing Agent's Description

VACANT! Incredible single story home on a corner lot with a fenced-in yard! Home features a split floor plan, covered porch, and so much more! The kitchen is open to the living room and features an eat-in area, breakfast bar, and stainless steel appliances! New carpet in all the bedrooms! Come tour today!

SEE MORE

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: 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
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
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,051
Property Tax -$319
Property Insurance -$137
HOA -$33
Property Management Fees -$155
CASH FLOW
$25

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.

$284,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,155

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,574

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,5503$1,6504$1,7005$1,720
$1,720
RENT COMPS ANALYSIS
  • 11975 Old Glory Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.01
    •  
  • 12107 Bellsworth Way Orlando, FL 1
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1994
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.77
    •  
  • 1734 Snaresbrook Way Orlando, FL 2
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1994
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 12344 Kenton Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1994
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 2355 Bay Leaf Dr Orlando, FL 4
    • 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 1988
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
Rob Jones
1.813.534.6326
Offerpad Brokerage
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273979
Last Updated: 11/03/2020
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