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1309 Leeway Ave Orlando, FL 32810

4 Beds 2 Baths 2,070 sqft Built 1965

$309,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $149.71
  • 5 Days on Market
  • MLS # : O5902311
  • Updated Date : 10/30/2020 at 14:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,070 sqft
  • Baths : 2 full
Listing Agent

Premium Properties R.e Service

Listing Agent's Description

This spacious house is on a corner lot with 4 Bedrooms, 2 full Bathrooms and a Big Family Room. Also have a good size backyard with separate parking for RV/Boat. Conveniently located between College Park (Edgewater) and Winter Park, within minutes away from I4 and State 408. With brand new A/C, and Refrigerator. The garage is turned into the 4th bedroom and a bigger laundry room by the previous owner. Garage has a small work area for tools or storage. Seller is putting a new roof.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Kingswood Manor

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Kingswood Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8951712

* 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
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,143
Property Tax -$352
Property Insurance -$160
Property Management Fees -$140
CASH FLOW
-$236

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.

$309,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 9.2%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,455

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,527

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3503$1,3504$1,5505$1,560
$1,560
RENT COMPS ANALYSIS
  • 1309 Leeway Ave Orlando, FL 5
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.75
    •  
  • 5313 Alpha Dr Orlando, FL 1
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1960
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.68
    •  
  • 4233 Shorecrest Dr Orlando, FL 2
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1952
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.71
    •  
  • 310 Clark St Eatonville, FL 3
    • 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 1977
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.71
    •  
  • 1709 Baltimore Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1965
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
PROPERTY LISTING DETAILS
Casey Paniza
1.407.506.5484
Premium Properties R.e Service
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902311
Last Updated: 10/30/2020
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