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1247 Heather Lake Dr Orlando, FL 32824

3 Beds 3 Baths 1,471 sqft Built 1999

$280,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $190.35
  • 1 Days on Market
  • MLS # : O5918998
  • Updated Date : 01/24/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,471 sqft
  • Baths : 3 full
Listing Agent

La Rosa Realty Lake Nona Inc

Listing Agent's Description

Single Family 3 Beds and 3 complete baths plus bonus room area. Excellent location in a gated community with low HOA . Huge fenced back yard with a partial pond view for relaxing area. Garage has been converted into a partial room with wall unit air conditioning but can be easily turn back into a garage. Roof, AC unit and Fence are 4 years old. Call for appointment.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$973
Property Tax -$313
Property Insurance -$124
HOA -$67
Property Management Fees -$129
CASH FLOW
-$35

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.

$280,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.56%

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$1.0M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5753$1,6504$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 1247 Heather Lake Dr Orlando, FL 1
    • 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.07
    •  
  • 14229 Crystal Key Pl Orlando, FL 2
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1999
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.09
    •  
  • 1422 Coldwater Ct Orlando, FL 3
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1993
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 168 Seabreeze Cir Kissimmee, FL 4
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1990
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
  • 1416 Timberbend Cir Orlando, FL 5
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1998
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.11
    •  
PROPERTY LISTING DETAILS
Lubeiva Arias
1.407.968.9342
La Rosa Realty Lake Nona Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5918998
Last Updated: 01/24/2021
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