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1570 Carey Glen Cir Orlando, FL 32824

4 Beds 2 Baths 1,588 sqft Built 2001

$249,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $156.80
  • 2 Days on Market
  • MLS # : O5905593
  • Updated Date : 11/14/2020 at 22:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,588 sqft
  • Baths : 2 full
Listing Agent

La Rosa Realty Cw Properties L

Listing Agent's Description

LOCATION, LOCATION, LOCATION!!!!!!!!!This Property is located in one of the most desired area in Orlando, is feature 4 bedrooms and 2 house is great for investor or first time home buyer. Roof 2018/New A/C 2020

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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: Heather Glen at Meadow Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $101k253k

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

Neighborhood: Heather Glen at Meadow Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8801712

* 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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$919
Property Tax -$279
Property Insurance -$131
HOA -$56
Property Management Fees -$149
CASH FLOW
$127

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.

$249,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 10.6%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$22,701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,652

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5883$1,6004$1,6255$1,660
$1,660
RENT COMPS ANALYSIS
  • 1570 Carey Glen Cir Orlando, FL 5
    • 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.05
    •  
  • 1436 Carey Glen Cir Orlando, FL 1
    • 4 beds 3 baths ∙ 1,457 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,457 Sqft ∙ Built 2001
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.08
    •  
  • 1243 Darnaby Way Orlando, FL 2
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 2003
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,588
    • $0.96
    •  
  • 1510 Carey Glen Cir Orlando, FL 3
    • 4 beds 3 baths ∙ 1,457 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,457 Sqft ∙ Built 2001
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 1433 Carey Glen Cir Orlando, FL 4
    • 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 2001
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.02
    •  
PROPERTY LISTING DETAILS
Doris Menendez
1.407.791.1841
La Rosa Realty Cw Properties L
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5905593
Last Updated: 11/14/2020
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