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1614 Almond Ave Orlando, FL 32814

3 Beds 3 Baths 1,673 sqft Built 2007

$459,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $274.36
  • 5 Days on Market
  • MLS # : O5913252
  • Updated Date : 12/24/2020 at 17:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,673 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Mediterranean bungalow with direct frontage of water! Enjoy the view of a pond taken care of by the neighborhood. This well kept home has wood flooring, built in shelving, a private office, and blinds/shutters. 3 bedrooms and 2.5 bathrooms with a large two car garage with plenty of storage. Walk down to the Village Center with restaurants, retail stores, doctor offices, groceries, and more! Take advantage of the 3 community pools with 2 workout rooms and 2 entertainment rooms. Celebrate many holidays with large community gatherings organized by the association. Grade A Public schools and many Private school selections as well. Don't miss the community website for up to date info!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Baldwin Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $105k508k

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

Neighborhood: Baldwin Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10293500

* 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
Baldwin Park Elementary School Primary Regular 1,182 80 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Baldwin Park Elementary School

  • Education Level: Primary
  • # of students: 1,182
  • # of teachers: 80
8
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
 

$413,100$504,900$459,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,694
Property Tax -$594
Property Insurance -$136
HOA -$67
Property Management Fees -$129
CASH FLOW
-$179

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.

$459,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.0%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,385

INVESTMENT

$127,385

Down Payment
$114,750
Rehab Estimate
$5,750
Closing Costs
$6,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,694

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,750
Loan Amount $344,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$16,637

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $1,957

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,7503$1,9504$2,4405$2,550
$2,550
RENT COMPS ANALYSIS
  • 1614 Almond Ave Orlando, FL 4
    • 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.46
    •  
  • 1611 Hanks Ave Orlando, FL 1
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2006
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.09
    •  
  • 2820 Saint George St Orlando, FL 2
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2005
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.14
    •  
  • 5356 Penway Dr Orlando, FL 3
    • 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2005
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.17
    •  
  • 5364 Penway Dr Orlando, FL 5
    • 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 2007
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.28
    •  
PROPERTY LISTING DETAILS
Jeff Clark
1.407.733.0773
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5913252
Last Updated: 12/24/2020
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