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1508 Gattis Dr #1 Orlando, FL 32825

3 Beds 2 Baths 1,500 sqft Built 1981

$299,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $199.33
  • 34 Days on Market
  • MLS # : O5950217
  • Updated Date : 07/13/2021 at 07:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Lovejoy Professional Realty, Inc

Listing Agent's Description

This is a must see!! Newly renovated home price to sell with huge lots to build.

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: Cheney Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $55k253k

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

Neighborhood: Cheney Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6811712

* 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
Union Park Elementary School Primary Regular 488 33 3
Union Park Middle School Middle Regular 873 52 3
University High School High Magnet 3,111 141 5

Union Park Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 33
3
GreatSchools Rating

Union Park Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 52
3
GreatSchools Rating

University High School

  • Education Level: High
  • # of students: 3,111
  • # of teachers: 141
5
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,039
Property Tax -$340
Property Insurance -$126
Property Management Fees -$129
CASH FLOW
-$223

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.

$299,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,418

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,075
1$1,0752$1,4103$1,5004$1,5885$1,648
$1,648
RENT COMPS ANALYSIS
  • 1508 Gattis Dr #1 Orlando, FL 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.94
    •  
  • 9286 Spring Vale Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1987
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.89
    •  
  • 1326 Spring Lite Way Orlando, FL 3
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1985
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 1101 Pine Sap Ct Orlando, FL 4
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1982
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,588
    • $0.97
    •  
  • 860 Maple Forest Dr Orlando, FL 5
    • 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 1987
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,648
    • $1.02
    •  
PROPERTY LISTING DETAILS
Paul Chisholm
1.407.590.2997
Lovejoy Professional Realty, Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5950217
Last Updated: 07/13/2021
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