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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $141.42
- 4 Days on Market
- MLS # : O5912309
- Updated Date : 12/19/2020 at 14:19
CONSTRUCTION
- Beds : 4
- Floor Size : 2,185 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Exclusive Collection
Listing Agent's Description
Nestled in Errol Estates, this beautifully maintained custom built 4 bedroom, 2.5 bath home is on a large fenced corner lot with a view of Lake Francis. Step inside to a spacious open living room and kitchen plan with a private split bedroom set-up. The home office offers built-in storage for those books you have been meaning to read or displaying family photos and is located across from the cozy formal dining room. Double doors off the family room lead to your generous sized paver Florida room and includes private access to the master bedroom. The master suite includes a masterfully planned walk-in closet and and updated bathroom double vanities featuring modern finishes. Come see this amazing home, that is absolutely turn-key and move-in ready with a new roof in 2018, re-plumbed 2019, brand new lifeproof vinyl flooring throughout, renovated bathrooms, new fence 2019, new microwave, fresh exterior paint and new A/C! Don't hesitate, this is the one you have been looking for, it will be gone in a minute!
SEE MORE
- 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: Errol Estates Country Club
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Errol Estates Country Club
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,850 |
| EXPENSES | Loan Payment | -$1,140 |
| Property Tax | -$333 | |
| Property Insurance | -$167 | |
| HOA | -$20 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$61
|
||
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.
$309,000
PROJECTED PRICE
$1,850
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.63% |
| Appreciation Year (1-5) | 7.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.99% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$87,635
LOAN DETAILS
$1,140
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $77,250 |
| Loan Amount | $231,750 |
6.58
YEARS SAVED
$28,182
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,850
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$1,824
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 04/29/20- Rent
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- $1,940
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- 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2006
LEASED 09/01/20- Rent
- Rent Per SQFT
- $2,000
- $0.85
PROPERTY LISTING DETAILS
1.407.234.9551
Re/max Exclusive Collection
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5912309
Last Updated: 12/19/2020
