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14621 Musket Fire Ln Orlando, FL 32837

4 Beds 2 Baths 1,673 sqft Built 1987

$324,500

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $193.96
  • 3 Days on Market
  • MLS # : O5917190
  • Updated Date : 01/16/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,673 sqft
  • Baths : 2 full
Listing Agent

Engel & Voelkers

Listing Agent's Description

OVERSIZED LOT... LOCATED ON CUL-DE-SAC..., SMARTLY UPDATED, CONTINUOUS CERAMIC TILE THROUGHOUT, OPEN-AIR INGROUND POOL WITH PATIO DECKING FOR PLENTY OF SPACE FOR FAMILY GATHERINGS AND OR CELEBRATIONS...ROOF REPLACED IN 2016...

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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: Hunters Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $105k353k

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

Neighborhood: Hunters Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10282269

* 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
 

$292,050$356,950$324,500

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,127
Property Tax -$363
Property Insurance -$136
HOA -$107
Property Management Fees -$129
CASH FLOW
-$112

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.

$324,500

PROJECTED PRICE

$1,750

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 4.8%
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-$4.0k-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,743

INVESTMENT

$91,743

Down Payment
$81,125
Rehab Estimate
$5,750
Closing Costs
$4,868

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,127

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,125
Loan Amount $243,375
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,702

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,7504$1,8505$1,899
$1,899
RENT COMPS ANALYSIS
  • 14621 Musket Fire Ln Orlando, FL 3
    • 4 beds 2 baths ∙ 1,673 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,673 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 2861 Falling Tree Cir Orlando, FL 1
    • 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 1991
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
  • 2945 Falling Tree Cir Orlando, FL 2
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 1990
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 14527 Mandolin Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1987
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.04
    •  
  • 14303 Windchime Ln Orlando, FL 5
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1990
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $1.04
    •  
PROPERTY LISTING DETAILS
Mark Santolin
1.407.924.4668
Engel & Voelkers
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917190
Last Updated: 01/16/2021
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