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14059 Newcomb Ave Orlando, FL 32826

3 Beds 1 Baths 1,203 sqft Built 1981

$165,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $137.16
  • 2 Days on Market
  • MLS # : G5035411
  • Updated Date : 11/03/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,203 sqft
  • Baths : 1 full
Listing Agent

Carlino Real Estate Group Inc

Listing Agent's Description

AS-IS***Conveniently located near UCF . 3 bedroom block home with screened lanai, fenced private backyard.

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: College Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $90k253k

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

Neighborhood: College Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7811760

* 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
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$609
Property Tax -$207
Property Insurance -$108
Property Management Fees -$121
CASH FLOW
$296

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.

$165,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 11.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$609

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

12.5

YEARS SAVED

$38,605

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,423

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2253$1,3404$1,3955$1,695
$1,695
RENT COMPS ANALYSIS
  • 14059 Newcomb Ave Orlando, FL 3
    • 3 beds 1 baths ∙ 1,203 Sqft ∙ Built 1981 3 beds 1 baths ∙ 1,203 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.11
    •  
  • 14065 Newcomb Ave Orlando, FL 1
    • 3 beds 1 baths ∙ 1,026 Sqft ∙ Built 1981 3 beds 1 baths ∙ 1,026 Sqft ∙ Built 1981
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.16
    •  
  • 2848 Newcomb Ct Orlando, FL 2
    • 3 beds 1 baths ∙ 1,026 Sqft ∙ Built 1980 3 beds 1 baths ∙ 1,026 Sqft ∙ Built 1980
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $1.19
    •  
  • 14068 Ithaca Way Orlando, FL 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1990
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.16
    •  
  • 2721 Annhurst Ave Orlando, FL 5
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1991
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.22
    •  
PROPERTY LISTING DETAILS
Karen Wade
1.352.267.1607
Carlino Real Estate Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: G5035411
Last Updated: 11/03/2020
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