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14110 Newcomb Ave Orlando, FL 32826

3 Beds 2 Baths 1,315 sqft Built 1980

$222,500

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $169.20
  • 6 Days on Market
  • MLS # : O5903731
  • Updated Date : 11/05/2020 at 09:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,315 sqft
  • Baths : 2 full
Listing Agent

Keller Williams At The Parks

Listing Agent's Description

This home is just minutes from the University of Central Florida, Waterford Lakes Town Center and FL-408 with easy access to downtown, the airport and the beach. It features split bedrooms, 2 baths, a shady backyard and would make a great starter home or income opportunity! Don't wait. This one will go fast!

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
 

$200,250$244,750$222,500

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$821
Property Tax -$253
Property Insurance -$115
Property Management Fees -$126
CASH FLOW
$85

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.

$222,500

PROJECTED PRICE

$1,400

PROJECTED RENT

0.63%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,713

INVESTMENT

$64,713

Down Payment
$55,625
Rehab Estimate
$5,750
Closing Costs
$3,338

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$821

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,625
Loan Amount $166,875
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$18,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,512

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,5504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 14110 Newcomb Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.06
    •  
  • 14068 Ithaca Way Orlando, FL 1
    • 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
    •  
  • 2621 Annhurst Ave Orlando, FL 3
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1988
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.13
    •  
  • 14012 Rensselaer Rd Orlando, FL 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1998
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 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
Elizabeth Nibert
1.407.234.8654
Keller Williams At The Parks
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5903731
Last Updated: 11/05/2020
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