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1226 Pine St Orlando, FL 32824

3 Beds 2 Baths 1,352 sqft Built 1985

INVESTimate

$195,000

List Price

$1,320

$1,188 - $1,452

Rent Est.

$209,099  ( +7.23%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $144.23
  • 2 Days on Market
  • MLS # : O5887708
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,352 sqft
  • Baths : 2 full
Listing Agent

Reinam Group Inc

Listing Agent's Description

Check out this beautifully renovated home, sitting on a HUGE LOT, in a great location! Featuring 3 bedrooms and 2 bathrooms (master bedroom has its own private bathroom!) with a huge BONUS FLORIDA ROOM, this house was completely renovated in August 2019. Interior of the home was gutted and redone, all the way from the new cabinets and granite countertops in the kitchen (along with stainless steel appliances!) to the new cabinets/counters resting atop the porcelain tiles installed in both bathrooms. The roof is practically new (replaced 2019), and upkeep on the HVAC system and septic tank (emptied and cleaned during renovations) means useful life for some time. New flooring, new windows (huge bonus!), tankless water heater, new light/fan fixtures and water faucets were installed in the renovations last year as well. Enjoy this home with a fence all around and NO HOA fees. The location is unbeatable, as you are right next to major shopping (I.E. Florida Mall!), highways (I.E. 5 min from 528!), parks (Disney!) and Orlando International Airport (5-10 minute drive!). Schedule your tour before it’s too late. Selling the home AS IS. All measurements are approximate. All info provided is deemed to be correct but not guaranteed, please double check. Home is currently rented, tenant is moving out 8/30/20. At this time, any necessary touch ups and fixes will be done. Washer and dryer are NOT included in sale.

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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: Taft

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $56k253k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Taft

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7731712

* 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
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$719
Property Tax -$218
Property Insurance -$117
Property Management Fees -$119
CASH FLOW
$147

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.

$195,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 7.23%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$22,630

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,345

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3203$1,475
$1,475
RENT COMPS ANALYSIS
  • 1226 Pine St Orlando, 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.98
    •  
  • 9628 Lupine Ave Orlando, 1
    • 4 beds 2 baths ∙ 1,224 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,224 Sqft ∙ Built 1998
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.08
    •  
  • 9319 8th Ave Orlando, 3
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1990
    LEASED 06/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jeremy Troncoso
1.407.913.1728
Reinam Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887708
Last Updated: 08/26/2020
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