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1614 Almond Ave Orlando, FL 32814

3 Beds 3 Baths 1,673 sqft Built 2007

$464,900

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $277.88
  • 37 Days on Market
  • MLS # : O5895230
  • Updated Date : 10/28/2020 at 06:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,673 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Advantage 2 Realty

Listing Agent's Description

Striking, two-story Mediterranean with *water view* in sought-after Baldwin Park. This 3-Bedroom, 2.5-Bath home offers lovely upgrades and a smart floor plan. Downstairs features an open concept Kitchen / Dining / Great Room area, ideal for entertaining. Kitchen showcases stainless appliances, granite counters w/seating, handsome 42-inch cabinetry and storage pantry. Functional built-in wall unit. Separate Living Room and Half-bath complete the first floor. The second floor boasts a spacious Master Bedroom with walk-in closet, bonus closet and lovely en suite bath with dual sinks. Both Guest Bedrooms offer direct access to Guest Bath. Generously-sized built-in linen closet also upstairs. Side yard Patio with attractive pavers. 2-Car Garage features storage racks and alley-entry. Inside Laundry with sink. Gorgeous plantation shutters and crown molding. House pre-wired for direct internet access. Tile roof, landscaping and direct pond view lend to fantastic curb appeal. Orlando’s Baldwin Park is a walkable, lakefront community featuring dining, shopping, exercise trails and an abundance of green space. Other amenities include 3 Swimming Pools and 2 Fitness Facilities. *Highly desirable Schools*… Easy access to Downtown Orlando, Winter Park, UCF, Rollins College, airports, hospitals, world-class theme parks and major roadways. **Check out the Virtual 3-D Walkthrough Tour!**

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
 

$418,410$511,390$464,900

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,715
Property Tax -$594
Property Insurance -$136
HOA -$67
Property Management Fees -$205
CASH FLOW
-$437

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.

$464,900

PROJECTED PRICE

$2,280

PROJECTED RENT

0.49%

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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$128,949

INVESTMENT

$128,949

Down Payment
$116,225
Rehab Estimate
$5,750
Closing Costs
$6,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,715

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,225
Loan Amount $348,675
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $1.36

    LIST RENT PER SQFT
  • $1,928

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6503$1,9504$2,2805$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
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.36
    •  
  • 1611 Hanks Ave Orlando, FL 1
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.09
    •  
  • 1502 Kingston Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1994
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
  • 5356 Penway Dr Orlando, FL 3
    • 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2005
    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
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.28
    •  
PROPERTY LISTING DETAILS
Ray Lopez
1.407.697.8298
Keller Williams Advantage 2 Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5895230
Last Updated: 10/28/2020
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