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1322 Lake Biscayne Way Orlando, FL 32824

4 Beds 3 Baths 2,282 sqft Built 1998

$340,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $148.99
  • 2 Days on Market
  • MLS # : O5916815
  • Updated Date : 01/16/2021 at 14:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,282 sqft
  • Baths : 2 full , 1 half
Listing Agent

Trident Realty

Listing Agent's Description

Welcome Home to the sought after quiet neighborhood of Hidden Lakes! This beautiful 4 bedroom home is ideally located on a very hard to find natural preserve lot. This home features a large family room / dining room combination perfect for entertaining and family events. High ceilings make this home feel very spacious. Your large master bedroom has a wonderful walk in closet and a very large master bath. Enjoy the tranquility of nature under your covered screened in porch overlooking your private pool with no rear neighbors. Just minutes from downtown or Disney. Don't delay schedule a showing today!

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: Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k308k

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

Neighborhood: Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9921763

* 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
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Oakshire Elementary School

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

$306,000$374,000$340,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,181
Property Tax -$380
Property Insurance -$172
HOA -$92
Property Management Fees -$129
CASH FLOW
-$55

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.

$340,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 4.1%
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-$4.0k-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$12,396

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,871

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,8953$1,9004$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1322 Lake Biscayne Way Orlando, FL 4
    • 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.83
    •  
  • 609 Lake Biscayne Way Orlando, FL 1
    • 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 1997
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.66
    •  
  • 1801 Bridgeview Cir Orlando, FL 2
    • 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1997
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.83
    •  
  • 1409 Avleigh Cir Orlando, FL 3
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1992
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
  • 1215 Lake Downey Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 2,228 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,228 Sqft ∙ Built 1979
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
PROPERTY LISTING DETAILS
Chris Olmstead
1.407.457.9519
Trident Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916815
Last Updated: 01/16/2021
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