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127 W Wallace St Orlando, FL 32809

3 Beds 2 Baths 1,469 sqft Built 1984

$180,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $122.53
  • 3 Days on Market
  • MLS # : O5906010
  • Updated Date : 11/20/2020 at 21:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,469 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Classic

Listing Agent's Description

INVESTMENT OPPORTUNITY - LONG TERM TENANT OCCUPIED THROUGH 07/31/2021. New A/C 2018, New water heater 2018, recent switch from septic to public sewer

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: Castle Villa

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $48k253k

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

Neighborhood: Castle Villa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6591712

* 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
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$664
Property Tax -$205
Property Insurance -$124
Property Management Fees -$122
CASH FLOW
$245

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.

$180,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$33,794

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,370

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,3603$1,4004$1,4955$1,700
$1,700
RENT COMPS ANALYSIS
  • 127 W Wallace St Orlando, FL 2
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.93
    •  
  • 529 American Heritage Pkwy Orlando, FL 1
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1973
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.76
    •  
  • 6725 Kelland Ave Orlando, FL 3
    • 4 beds 2 baths ∙ 1,375 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,375 Sqft ∙ Built 1970
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.02
    •  
  • 733 Ibsen Ave #9 Orlando, FL 4
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1969
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 1613 Stafford Dr Belle Isle, FL 5
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1981
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.98
    •  
PROPERTY LISTING DETAILS
Mark Ramey
1.407.956.6165
Keller Williams Classic
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906010
Last Updated: 11/20/2020
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