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12233 Sonnet Ave Orlando, FL 32832

3 Beds 3 Baths 2,203 sqft Built 2018

INVESTimate

$359,000

List Price

$2,250

$2,025 - $2,475

Rent Est.

$378,673  ( +5.48%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2018
  • Price/Sqft : $162.96
  • 20 Days on Market
  • MLS # : O5882744
  • Updated Date : 08/23/2020 at 11:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,203 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ms Land & Building Llc

Listing Agent's Description

Beautiful 3 Bedroom 2.5 Bath home located in the Storey Park Community. This eco-friendly home features solar panels,double panel windows and is ALEXA ready,home is spread over two stories with a detached 2 car garage in the rear and a welcoming front entryway. The formal living room and a spacious family room are located downstairs with a half bath.Ceramic Tile throughout first floor. kitchen has granite counter tops,42"cabinets, breakfast bar and overlooks the living room and dining areas. All bedrooms are located upstairs including a large master suite that is complete with a walk-in closet and a private master bathroom that has dual sinks on a granite counter-top vanity, separate shower and a garden tub that will relax you. The cozy back patio is perfect for outdoor entertaining!Storey Park offers exceptional amenities both inside and outside your home to bring luxury and convenience to your life, including a resort style pool, 24-hour fitness center, clubhouse, tennis courts, walking trails, campgrounds, a dog park and more! Don't miss the opportunity to call this stunning

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$323,100$394,900$359,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,325
Property Tax -$518
Property Insurance -$168
HOA -$300
Property Management Fees -$203
CASH FLOW
-$263

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.

$359,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.48%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,566

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,269

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2004$2,2505$2,250
$2,250
RENT COMPS ANALYSIS
  • 12233 Sonnet Ave Orlando, 5
    • 3 beds 3 baths ∙ 2,203 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,203 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
  • 11638 Fiction Ave Orlando, 1
    • 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 2017
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 11444 Great Commission Way Orlando, 2
    • 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 2006
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.07
    •  
  • 10251 Authors Way Orlando, 3
    • 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 2016
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.05
    •  
  • 11768 Stein St Orlando, 4
    • 3 beds 3 baths ∙ 2,203 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,203 Sqft ∙ Built 2016
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
PROPERTY LISTING DETAILS
Luiz Silva
1.407.409.4915
Ms Land & Building Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5882744
Last Updated: 08/23/2020
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