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1621 Lalique Ln Orlando, FL 32828

4 Beds 2 Baths 1,898 sqft Built 2004

$318,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $167.54
  • 6 Days on Market
  • MLS # : O5902456
  • Updated Date : 11/02/2020 at 15:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,898 sqft
  • Baths : 2 full
Listing Agent

Dalton Wade, Inc.

Listing Agent's Description

Wow, expect to be impressed. This beautiful one story single family home with no rear neighbors is in move in ready condition! 4 full bedrooms, 2 bathrooms, inside laundry, 2 car attached garage, formal living/dining room, eat-in space in kitchen with a completely separate great room make for an open spacious floor plan. The sellers have taken great care of the home and have made improvements. Here are just a few of the improvements: smart home thermostat, new garage door opener, new AC in 2018, newer interior paint, updated kitchen countertops and beautiful backsplash, newer kitchen cabinets, newer stainless steel refrigerator, newer stainless steel dishwasher, newer kitchen sink and faucet, fenced rear yard with gates, rear covered patio with a wonderful gazebo sitting area, paver driveway, functioning irrigation system with timer to maintain the meticulous landscaping, shrubs, and palms. All of this located within minutes to the University of Central FL, HWY 50 (East Colonial), toll roads 408, 417, 528, Orlando International Airport, and downtown Orlando. Shopping, restaurants, parks, all in abundance and within close proximity. A must see to appreciate. Schedule your showing today!

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: Waterford Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k339k

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

Neighborhood: Waterford Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10281973

* 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
 

$286,200$349,800$318,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,173
Property Tax -$362
Property Insurance -$149
HOA -$35
Property Management Fees -$165
CASH FLOW
-$55

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.

$318,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$90,020

INVESTMENT

$90,020

Down Payment
$79,500
Rehab Estimate
$5,750
Closing Costs
$4,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,500
Loan Amount $238,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$10,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,827

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,749
1$1,7492$1,8003$1,8304$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1621 Lalique Ln Orlando, FL 3
    • 4 beds 2 baths ∙ 1,898 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,898 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.96
    •  
  • 14936 Faberge Dr Orlando, FL 1
    • 4 beds 2 baths ∙ 1,886 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,886 Sqft ∙ Built 2005
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.93
    •  
  • 14832 Faberge Dr Orlando, FL 2
    • 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 2005
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 1707 Lalique Ln Orlando, FL 4
    • 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 2005
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
  • 1512 Lalique Ln Orlando, FL 5
    • 4 beds 2 baths ∙ 1,992 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,992 Sqft ∙ Built 2005
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
PROPERTY LISTING DETAILS
Erich Adams
1.321.209.1031
Dalton Wade, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902456
Last Updated: 11/02/2020
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