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15037 Montesino Dr Orlando, FL 32828

4 Beds 2 Baths 2,013 sqft Built 2006

$395,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $196.22
  • 2 Days on Market
  • MLS # : O5958194
  • Updated Date : 07/13/2021 at 10:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,013 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Orlando one-story home offers a two-car garage.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bella Vida

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $105k431k

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

Neighborhood: Bella Vida

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10292144

* 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
Timber Lakes Elementary School Primary Regular 897 59 9
Timber Springs Middle School Middle Unknown NA
Timber Creek High School High Regular 3,132 161 8

Timber Lakes Elementary School

  • Education Level: Primary
  • # of students: 897
  • # of teachers: 59
9
GreatSchools Rating

Timber Springs Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Timber Creek High School

  • Education Level: High
  • # of students: 3,132
  • # of teachers: 161
8
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,372
Property Tax -$449
Property Insurance -$156
HOA -$36
Property Management Fees -$129
CASH FLOW
-$352

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.

$395,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 4.8%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,418

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,7503$1,7504$1,7905$2,000
$2,000
RENT COMPS ANALYSIS
  • 15037 Montesino Dr Orlando, FL 4
    • 4 beds 2 baths ∙ 2,013 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,013 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.89
    •  
  • 15174 Sugargrove Way Orlando, FL 1
    • 4 beds 2 baths ∙ 1,929 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,929 Sqft ∙ Built 2002
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.84
    •  
  • 15290 Sugargrove Way Orlando, FL 2
    • 4 beds 2 baths ∙ 1,929 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,929 Sqft ∙ Built 2002
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 415 Cortona Dr Orlando, FL 3
    • 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 2006
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 1037 Horseshoe Falls Dr Orlando, FL 5
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2003
    LEASED 04/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
PROPERTY LISTING DETAILS
Alli Johnston
1.407.634.1744
Opendoor Brokerage Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5958194
Last Updated: 07/13/2021
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