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14253 Portrush Dr Orlando, FL 32828

4 Beds 2 Baths 2,076 sqft Built 1998

$355,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $171.00
  • 3 Days on Market
  • MLS # : O5916975
  • Updated Date : 01/15/2021 at 16:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,076 sqft
  • Baths : 2 full
Listing Agent

Kelly Price & Company Llc

Listing Agent's Description

EASTWOOD!! Adorable updated home!! This four bedroom and two bathroom home has an open floor plan and is flooded with natural light. Brand new vinyl floors in the living spaces, fresh carpet in the bedrooms and carrara marble in the bathrooms. Stunning kitchen has white solid wood cabinetry with granite counter tops and natural gas range. The luxurious master bath has carrara marble, dual sink and large tub. There is a sunny patio and a two car garage. Fully fenced in yard. Only three blocks to the Eastwood community pool which looks out over the the Eastwood Golf Club.

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: Sherwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k340k

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

Neighborhood: Sherwood

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
Cornerstone Charter Academy K-8 Primary Charter 933 52 7
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Timber Creek High School High Regular 3,132 161 8

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

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

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,233
Property Tax -$404
Property Insurance -$160
HOA -$122
Property Management Fees -$129
CASH FLOW
-$8

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

$2,040

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

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 50% 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

5.17

YEARS SAVED

$18,810

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,045

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8993$1,9824$2,0405$2,045
$2,045
RENT COMPS ANALYSIS
  • 14253 Portrush Dr Orlando, FL 4
    • 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.98
    •  
  • 14149 Castlerock Orlando, FL 1
    • 4 beds 2 baths ∙ 1,877 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,877 Sqft ∙ Built 1999
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 359 Portstewart Dr Orlando, FL 2
    • 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 1997
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.89
    •  
  • 347 Portstewart Dr Orlando, FL 3
    • 4 beds 2 baths ∙ 1,952 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,952 Sqft ∙ Built 1998
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,982
    • $1.02
    •  
  • 334 Portstewart Dr Orlando, FL 5
    • 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 1997
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $1.04
    •  
PROPERTY LISTING DETAILS
Lauren Mcdaniel
1.407.910.5694
Kelly Price & Company Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916975
Last Updated: 01/15/2021
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