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1515 Fern Bay Ct Orlando, FL 32824

4 Beds 3 Baths 2,651 sqft Built 2008

$415,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $156.54
  • 3 Days on Market
  • MLS # : O5912333
  • Updated Date : 12/18/2020 at 12:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,651 sqft
  • Baths : 2 full , 1 half
Listing Agent

Empire Network Realty

Listing Agent's Description

BEAUTIFUL WATERFRONT HOME IN SOUTHEAST ONLY 7 MILES TO THE LAKE NONA MEDICAL CITY! High ceilings enriched w/natural lighting. The centrally located kitchen is highlighted w/staggered 42" Cherry Maple cabinets, granite countertops, tile floors, stainless steel appliances, breakfast bar, & cabinet pantry. Double doors open to your owner's retreat that feature the perfect private oasis w/ a roomy sitting area, tray ceilings, spacious his & her walk-in closets, dual sinks w/cultural marble counters, jacuzzi tub, & walk-in shower. Walk out of sliding glass doors to enjoy outdoor by the stoned fire pit with an amazing pond view. This community is loaded w/amenities to include a community pool and clubhouse with a recreational center, tennis courts, basketball courts, two playgrounds, picnic areas, walking trails, playing fields, and access to Cypress Park with walking trails and picnic tables. This community is conveniently located near Nemours Children’s Hospital, VA Hospital, USTA, KPMG Training Center, Amazon fulfillment center, & Orlando International Airport. A MOVE IN READY MUST SEE!

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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: Sawgrass Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k324k

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

Neighborhood: Sawgrass Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10282037

* 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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,531
Property Tax -$464
Property Insurance -$195
HOA -$98
Property Management Fees -$129
CASH FLOW
-$247

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.

$415,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 4.6%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$7,483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,174

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,1704$2,2505$2,300
$2,300
RENT COMPS ANALYSIS
  • 1515 Fern Bay Ct Orlando, FL 3
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.82
    •  
  • 3803 Pine Gate Trl Orlando, FL 1
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2014
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 12156 Alder Branch Loop Orlando, FL 2
    • 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2014
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 13001 Sawgrass Pine Cir Orlando, FL 4
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2013
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 13004 Boggy Pointe Dr Orlando, FL 5
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 2011
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
PROPERTY LISTING DETAILS
Sandra Pina
1.407.463.9257
Empire Network Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5912333
Last Updated: 12/18/2020
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