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1239 Heather Lake Dr Orlando, FL 32824

3 Beds 3 Baths 1,471 sqft Built 1999

$259,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $176.68
  • 3 Days on Market
  • MLS # : O5930341
  • Updated Date : 03/19/2021 at 20:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,471 sqft
  • Baths : 2 full , 1 half
Listing Agent

Capital Realty Group Florida

Listing Agent's Description

Gated community near the much desired Hunter's Creek area of Orlando. Light, bright kitchen with room for a dining room table. All bedrooms upstairs. Bonus Room upstairs for a den or office. Community pool. New roof (2021).

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pebble Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $105k253k

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

Neighborhood: Pebble Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9041712

* 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
Oakshire Elementary School Primary Regular 619 40 8
Meadow Woods Middle School Middle Regular 1,036 61 3
Cypress Creek High School High Magnet 3,124 148 5

Oakshire Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 40
8
GreatSchools Rating

Meadow Woods Middle School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 61
3
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,124
  • # of teachers: 148
5
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$903
Property Tax -$291
Property Insurance -$124
HOA -$67
Property Management Fees -$129
CASH FLOW
-$43

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.

$259,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 9.6%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$9,763

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,589

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,4953$1,5504$1,5755$1,650
$1,650
RENT COMPS ANALYSIS
  • 1239 Heather Lake Dr Orlando, FL 1
    • 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.00
    •  
  • 1305 Timberbend Cir Orlando, FL 2
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1998
    property image
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 13307 Meadowfield Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1997
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.11
    •  
  • 14229 Crystal Key Pl Orlando, FL 4
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1999
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.09
    •  
  • 168 Seabreeze Cir Kissimmee, FL 5
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1990
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
PROPERTY LISTING DETAILS
Angela Chapman
1.407.447.7253
Capital Realty Group Florida
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5930341
Last Updated: 03/19/2021
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