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13902 Morning Frost Dr Orlando, FL 32828

3 Beds 2 Baths 1,846 sqft Built 2005

$355,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $192.31
  • 8 Days on Market
  • MLS # : O5919001
  • Updated Date : 01/30/2021 at 11:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,846 sqft
  • Baths : 2 full
Listing Agent

Robert Slack Llc

Listing Agent's Description

Wow! What a Find, your very own slice of paradise in Avalon Lakes, the highly desirable gated community. If you are looking for a first home or an investment property, this home is the one for YOU. Located steps away from A rated Elementary and High School, restaurants, shopping, Starbucks and more. Short drive from the University of Central Florida, Valencia community college, Orlando International Airport, Kennedy Space Center, beaches and Waterford lakes town center for the ultimate shopping experience. Outfitted with wood laminate flooring, tile in kitchen, bathrooms and laundry room. Very spacious fenced back yard. Whole house water softening system, covered lanai. Separate living and family room. Separate dining and nook areas. Garage has been converted to a flex room. Can be used as office, guest room, workout room or just about anything. A reasonable amount of storage space still available in the garage. This home will not last long in todays market and is priced to sell so please bring your highest and best offer.

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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
Timber Springs Middle School Middle Regular NA
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

Timber Springs Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Timber Creek High School

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

$319,500$390,500$355,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,233
Property Tax -$404
Property Insurance -$146
HOA -$90
Property Management Fees -$129
CASH FLOW
-$282

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.

$355,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.48%

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,060

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,592

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,5503$1,5884$1,7205$1,800
$1,800
RENT COMPS ANALYSIS
  • 13902 Morning Frost Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.93
    •  
  • 1137 Willow Branch Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2005
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.71
    •  
  • 1682 Shallcross Ave Orlando, FL 2
    • 3 beds 4 baths ∙ 1,686 Sqft ∙ Built 2007 3 beds 4 baths ∙ 1,686 Sqft ∙ Built 2007
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 13236 Early Frost Cir Orlando, FL 3
    • 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 2003
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,588
    • $0.92
    •  
  • 15943 Oak Spring Dr Orlando, FL 5
    • 4 beds 2 baths ∙ 2,007 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,007 Sqft ∙ Built 2006
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jose Melendez
1.407.607.1321
Robert Slack Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5919001
Last Updated: 01/30/2021
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