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12010 Philosophy Way Orlando, FL 32832

5 Beds 3 Baths 2,638 sqft Built 2018

$387,990

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $147.08
  • 2 Days on Market
  • MLS # : O5915787
  • Updated Date : 01/10/2021 at 01:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,638 sqft
  • Baths : 3 full
Listing Agent

Mainframe Real Estate

Listing Agent's Description

Welcome to Storey Park! Located across from the community Dog Park, this spacious 5-bedroom, 3-bath SOLAR POWERED home includes a DOWNSTAIRS BEDROOM with OFFICE and UPSTAIRS LOFT. GE Slate Appliances, Quartz Countertops, 42” Upper Cabinets with Crown Molding, Desk, and Glass Tile Backsplash finish the Kitchen. ENERGY EFFICIENT features include Hybrid Water Heater, Double-pane, Low-E vinyl windows, and 15 SEER HVAC. Upgrades include GE Pro Elite Whole Home WATER FILTRATION, REVERSE OSMOSIS in Kitchen, SCREENED PATIO, LAMINATE FLOORING UPSTAIRS, HARDWOOD TREADS, WROUGHT IRON SPINDLES, and WHOLE HOME GUTTERS, HOA includes High-Speed Internet and Cable. Blocks away from Storey Park amenities that include a Resort-Style Pool, Clubhouse, Fitness Center, Dog Park, Tennis Courts, Picnic Areas, and Playgrounds. With lush surroundings, Storey Park also features many Nature Trails and protected Conservation areas. Conveniently located near the 417 interchange which connects to 528, and I-4, offering an easy commute to Orlando International Airport, Downtown Orlando and Lake Nona’s Medical City. Zoned for A-rated Schools: Sun Blaze Elementary, Innovation Middle and Lake Nona High School.

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: 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
 

$349,191$426,789$387,990

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,348
Property Tax -$591
Property Insurance -$194
HOA -$263
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.

$387,990

PROJECTED PRICE

$2,450

PROJECTED RENT

0.63%

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

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$108,567

INVESTMENT

$108,567

Down Payment
$96,998
Rehab Estimate
$5,750
Closing Costs
$5,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,348

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,998
Loan Amount $290,993
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,650

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,638

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,4504$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 12010 Philosophy Way Orlando, FL 3
    • 5 beds 3 baths ∙ 2,638 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,638 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.93
    •  
  • 11826 Fiction Ave Orlando, FL 1
    • 4 beds 4 baths ∙ 2,507 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,507 Sqft ∙ Built 2018
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 11902 Philosophy Way Orlando, FL 2
    • 5 beds 3 baths ∙ 2,455 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,455 Sqft ∙ Built 2018
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.98
    •  
  • 11924 Story Time Dr Orlando, FL 4
    • 5 beds 3 baths ∙ 2,461 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,461 Sqft ∙ Built 2018
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.02
    •  
  • 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
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
PROPERTY LISTING DETAILS
Sophia Rogers
1.407.749.5349
Mainframe Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5915787
Last Updated: 01/10/2021
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