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1418 Pine Lake Rd Orlando, FL 32808

3 Beds 2 Baths 908 sqft Built 1969

INVESTimate

$129,900

List Price

$1,050

$945 - $1,155

Rent Est.

$146,034  ( +12.42%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1969
  • Price/Sqft : $143.06
  • 2 Days on Market
  • MLS # : O5887709
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 908 sqft
  • Baths : 2 full
Listing Agent

Florida Home Team Realty

Listing Agent's Description

Three bedrooms and 2 full baths plus a carport to protect your car. Irrigation system outside and laundry inside. AC and water heater in good shape. A new fridge and a little TLC from you will make this solidly built house a home.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Evans Village

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $45k253k

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

Neighborhood: Evans Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7611712

* 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
 

$116,910$142,890$129,900

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$479
Property Tax -$148
Property Insurance -$90
Property Management Fees -$95
CASH FLOW
$238

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.

$129,900

PROJECTED PRICE

$1,050

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.42%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$40,174

INVESTMENT

$40,174

Down Payment
$32,475
Rehab Estimate
$5,750
Closing Costs
$1,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$479

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $32,475
Loan Amount $97,425
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$30,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,050

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $797

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$875
1$8752$8953$9954$1,0005$1,050
$1,050
RENT COMPS ANALYSIS
  • 1418 Pine Lake Rd Orlando, 5
    • 3 beds 2 baths ∙ 908 Sqft ∙ Built 1969 3 beds 2 baths ∙ 908 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $1.16
    •  
  • 1400 Queensway Rd Orlando, 1
    • 3 beds 1 baths ∙ 1,135 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,135 Sqft ∙ Built 1955
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.77
    •  
  • 2206 Dardanelle Dr Orlando, 2
    • 3 beds 2 baths ∙ 1,018 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,018 Sqft ∙ Built 1971
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.88
    •  
  • 1611 Pontiac Ct Orlando, 3
    • 3 beds 1 baths ∙ 1,053 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,053 Sqft ∙ Built 1955
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.94
    •  
  • 928 Inchon Ct Orlando, 4
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1955
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kris Santullo
1.321.299.4359
Florida Home Team Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887709
Last Updated: 08/26/2020
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