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1628 Pine St Orlando, FL 32824

3 Beds 2 Baths 1,132 sqft Built 1990

$164,500

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $145.32
  • 6 Days on Market
  • MLS # : A4488286
  • Updated Date : 01/13/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,132 sqft
  • Baths : 2 full
Listing Agent

Flatfee.com

Listing Agent's Description

This a great house that has been renovated. New roof and hvac system has been replaced. Nice property in a awesome area!!

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: Taft

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $56k253k

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

Neighborhood: Taft

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7731712

* 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
 

$148,050$180,950$164,500

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$571
Property Tax -$184
Property Insurance -$104
Property Management Fees -$129
CASH FLOW
$392

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.

$164,500

PROJECTED PRICE

$1,380

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,343

INVESTMENT

$49,343

Down Payment
$41,125
Rehab Estimate
$5,750
Closing Costs
$2,468

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$571

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $41,125
Loan Amount $123,375
See What Happens When You Reinvest Cash Flow

15.25

YEARS SAVED

$41,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,245

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3803$1,400
$1,400
RENT COMPS ANALYSIS
  • 1628 Pine St Orlando, FL 2
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.22
    •  
  • 9628 Lupine Ave Orlando, FL 1
    • 4 beds 2 baths ∙ 1,224 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,224 Sqft ∙ Built 1998
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.08
    •  
  • 9567 Lupine Ave Orlando, FL 3
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1997
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.12
    •  
PROPERTY LISTING DETAILS
Cliff Glansen
Flatfee.com
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4488286
Last Updated: 01/13/2021
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