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14620 Old Forest Ct Orlando, FL 32826

3 Beds 2 Baths 1,264 sqft Built 1998

$275,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $217.56
  • 3 Days on Market
  • MLS # : O5924305
  • Updated Date : 02/19/2021 at 14:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,264 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome to this newly remodeled waterfront home situated behind UCF is move-in ready! Enjoy cooking in this brand new kitchen equipped with 42" maple soft-close cabinets with crown molding, granite counter tops, upgraded Whirlpool stainless steel appliances, and a stainless steel sink that overlooks the pond through the sliding glass doors. Both bathrooms have been remodeled head to toe including new custom vanities, new plumbing fixtures, new toilets, new tub and shower tile. New gray laminate wood flooring throughout, upgraded 6 inch baseboards, updated lighting fixtures, fresh coat of paint inside and out. BRAND NEW ROOF with new skylights, newly updated HVAC, new lighting and hardware, new paver driveway, 10'x10' utility shed out back as well as a 10'x20' wood deck with railing. Huge backyard that overlooks a pond that backs to conservation land. This is a highly sought-after location, do not miss this opportunity. Schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Stonemeade

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k331k

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

Neighborhood: Stonemeade

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9062089

* 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
East Lake Elementary School Primary Regular 735 48 6
Corner Lake Middle School Middle Regular 1,220 68 3
East River High School High Regular 1,957 96 5

East Lake Elementary School

  • Education Level: Primary
  • # of students: 735
  • # of teachers: 48
6
GreatSchools Rating

Corner Lake Middle School

  • Education Level: Middle
  • # of students: 1,220
  • # of teachers: 68
3
GreatSchools Rating

East River High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 96
5
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$955
Property Tax -$313
Property Insurance -$112
HOA -$43
Property Management Fees -$129
CASH FLOW
-$72

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.

$275,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 6.5%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% 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 $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$10,582

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,574

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5953$1,6254$1,6755$1,725
$1,725
RENT COMPS ANALYSIS
  • 14620 Old Forest Ct Orlando, FL 1
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.17
    •  
  • 3605 Stonefield Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2000
    property image
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.26
    •  
  • 4721 Fiske Cir Orlando, FL 3
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2002
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.29
    •  
  • 14520 Lycastle Cir Orlando, FL 4
    • 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1995
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.25
    •  
  • 3549 Stonefield Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 2003
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.18
    •  
PROPERTY LISTING DETAILS
Heather Spirazza
1.407.757.6022
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5924305
Last Updated: 02/19/2021
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