Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

13419 Summer Rain Dr Orlando, FL 32828

5 Beds 5 Baths 2,823 sqft Built 2005

$370,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $131.07
  • 2 Days on Market
  • MLS # : O5902440
  • Updated Date : 11/02/2020 at 20:21
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,823 sqft
  • Baths : 4 full , 1 half
Listing Agent

Empire Network Realty

Listing Agent's Description

Small town charm combined with big city convenience. Welcome to this beautiful 5 bedroom home in Avalon Lakes, perfect for the large or extended family in this sought-after area. This home not only includes a spacious master suite on the main floor, but 2 of the 4 additional bedrooms upstairs include their own private bathrooms. The home has been recently updated with new carpet and beautiful laminate flooring throughout as well as new paint both inside and out. The kitchen opens to the family room with vaulted ceilings that also opens to the over-sized patio in back giving you the perfect area for entertaining family and friends. The upstairs also includes of Loft area that is ideal for a game room or 2nd living area. This home boasts a 3 car garage, sits on a large corner lot, and gives you access to Avalon's resort-style community pools, parks, and bike trails. Experience the downtown charm of Avalon Park, the convenience of Waterford Lakes dining and shopping, quick access to major highways, A-rated schools and easy access to UCF, Seminole State, and Valencia colleges , as well as much, much, more. Welcome home!

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: Avalon Lakes Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k335k

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

Neighborhood: Avalon Lakes Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10292089

* 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
Timber Lakes Elementary School Primary Regular 897 59 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Timber Creek High School High Regular 3,132 161 8

Timber Lakes Elementary School

  • Education Level: Primary
  • # of students: 897
  • # of teachers: 59
9
GreatSchools Rating

Cornerstone Charter Academy K-8

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 52
7
GreatSchools Rating

Timber Creek High School

  • Education Level: High
  • # of students: 3,132
  • # of teachers: 161
8
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,365
Property Tax -$448
Property Insurance -$205
HOA -$95
Property Management Fees -$207
CASH FLOW
-$20

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.

$370,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$16,867

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,477

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,5004$2,5655$2,600
$2,600
RENT COMPS ANALYSIS
  • 13419 Summer Rain Dr Orlando, FL 1
    • 5 beds 5 baths ∙ 2,823 Sqft ∙ Built 2005 5 beds 5 baths ∙ 2,823 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 259 Winghurst Blvd Orlando, FL 2
    • 5 beds 4 baths ∙ 2,812 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,812 Sqft ∙ Built 2001
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.84
    •  
  • 13533 Hidden Forest Cir Orlando, FL 3
    • 5 beds 5 baths ∙ 2,840 Sqft ∙ Built 2006 5 beds 5 baths ∙ 2,840 Sqft ∙ Built 2006
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.88
    •  
  • 107 Walton Heath Dr Orlando, FL 4
    • 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 1997
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,565
    • $0.90
    •  
  • 1434 Anna Catherine Dr Orlando, FL 5
    • 4 beds 4 baths ∙ 2,922 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,922 Sqft ∙ Built 2002
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Gary Erickson
1.407.687.9244
Empire Network Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902440
Last Updated: 11/02/2020
BESbswy