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14217 Colonial Lakes Dr Orlando, FL 32826

3 Beds 2 Baths 1,871 sqft Built 2001

$274,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $146.93
  • 5 Days on Market
  • MLS # : O5917803
  • Updated Date : 01/20/2021 at 20:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,871 sqft
  • Baths : 2 full
Listing Agent

Z House Realty Group

Listing Agent's Description

This 4 Bedroom 2 Bathroom house in the heart of East Orlando is priced to sell!! The Freshly painted exterior is sure to impress!! This home features a foyer entry and a family room with sliding glass doors that lead to the covered patio. Large kitchen with breakfast bar with spacious pantry accompanies a large living room / family room make this the perfect home for entertaining. The master bedroom suite is sure to impress with its walk-in closet double doors opening to the back patio. AC was replaced in the last few years offering peace of mind! COLONIAL WOODS is an established community with easy access to SR 408, SR 417, the University of Central Florida, Valencia College, Waterford Lakes Town Center for shopping, and the Florida BEACHES!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Neighborhood: Colonial Woods

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $69k264k

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

Neighborhood: Colonial Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7931787

* 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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$955
Property Tax -$313
Property Insurance -$148
HOA -$21
Property Management Fees -$129
CASH FLOW
$134

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.

$274,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$24,533

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,749

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6503$1,7004$1,7955$1,799
$1,799
RENT COMPS ANALYSIS
  • 14217 Colonial Lakes Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 1803 Palmetto Pine Ln Orlando, FL 1
    • 4 beds 2 baths ∙ 1,851 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,851 Sqft ∙ Built 2000
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.88
    •  
  • 1811 Palmetto Pine Ln Orlando, FL 2
    • 4 beds 2 baths ∙ 1,811 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,811 Sqft ∙ Built 2000
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 14924 Lady Victoria Blvd Orlando, FL 4
    • 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 2003
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 14120 Econ Woods Ln Orlando, FL 5
    • 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 2004
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.96
    •  
PROPERTY LISTING DETAILS
Rick Mennie
1.407.267.3716
Z House Realty Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917803
Last Updated: 01/20/2021
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