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13512 Mirror Lake Dr Orlando, FL 32828

4 Beds 2 Baths 2,184 sqft Built 2003

$349,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $160.21
  • 3 Days on Market
  • MLS # : O5909715
  • Updated Date : 12/11/2020 at 17:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,184 sqft
  • Baths : 2 full
Listing Agent

United Realty Group Inc

Listing Agent's Description

Don’t miss this opportunity to own this beautifully, well maintained 4-bedroom 2 bath home, 2184 square foot home located in Avalon Lakes. When you first pull up to the home you will notice the freshly painted exterior, new landscaping, newer roof (only 2 years old) and new front door. Upon entering the home, you will notice the designer touches of the plank wall and luxury vinyl flooring throughout the living area. The large open kitchen and family room are great for entertaining. Family room has beautiful stone fireplace to enjoy on Florida’s cool nights. Kitchen has tons of counter space, with stainless appliances. The cabinets have recently been professionally painted and new hardware added. The Master Bedroom is spacious with large walk in closet and completely refinished master bath with large shower. The home has 3 roomy secondary bedrooms with large closets. The guest bathroom has recently been refinished as well complete with a new tub. Walk out back to enjoy the deck while you catch a sunset overlooking the pond and relax to enjoy the firepit and market lights. Avalon Lakes amenities include security gates, community pool, playground, lighted tennis/pickleball and basketball courts, fitness center, and clubhouse.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,291
Property Tax -$398
Property Insurance -$167
HOA -$100
Property Management Fees -$129
CASH FLOW
-$235

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.

$349,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.53%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,549

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,682

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4953$1,8504$1,8505$1,888
$1,888
RENT COMPS ANALYSIS
  • 13512 Mirror Lake Dr Orlando, FL 4
    • 4 beds 2 baths ∙ 2,184 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,184 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 1426 Willow Branch Dr Orlando, FL 1
    • 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2005
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.70
    •  
  • 1732 Crown Hill Blvd Orlando, FL 2
    • 4 beds 2 baths ∙ 2,286 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,286 Sqft ∙ Built 2003
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.65
    •  
  • 14313 Sapphire Bay Cir Orlando, FL 3
    • 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2005
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 1556 Echo Lake Ct Orlando, FL 5
    • 4 beds 2 baths ∙ 2,164 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,164 Sqft ∙ Built 2004
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,888
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jeff Francher
1.407.327.8838
United Realty Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5909715
Last Updated: 12/11/2020
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