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1643 Ridge Pointe Dr Orlando, FL 32808

3 Beds 2 Baths 1,108 sqft Built 2004

$199,900

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $180.42
  • 4 Days on Market
  • MLS # : O5915357
  • Updated Date : 01/08/2021 at 14:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,108 sqft
  • Baths : 2 full
Listing Agent

Florida Quality Homes & Invest

Listing Agent's Description

This Ready to Move-in 3 bedroom, 2 bath, 1 car garage home is a must-see! Brand new roof with architectural shingles. Brand new cabinets and granite countertops. Kitchen has eat-in area and is open to the living room. Tile throughout. New interior and exterior paint. Corner lot with no rear neighbors and only 1 side neighbor. Conveniently located to shopping, major roads, schools, park etc. Sold As-Is. Buyer to verify measurements and condition.

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: Silver Pines Pointe

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $55k253k

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

Neighborhood: Silver Pines Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7821712

* 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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$694
Property Tax -$227
Property Insurance -$102
HOA -$23
Property Management Fees -$129
CASH FLOW
$4

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.

$199,900

PROJECTED PRICE

$1,180

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.4%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$10,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $735

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$750
1$7502$9003$9754$1,180
$1,180
RENT COMPS ANALYSIS
  • 1643 Ridge Pointe Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,108 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,108 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $1.06
    •  
  • 3001 Redlive Oaks Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 2000
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $750
    • $0.60
    •  
  • 412 Fred St Orlando, FL 2
    • 4 beds 2 baths ∙ 1,360 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,360 Sqft ∙ Built 2002
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.66
    •  
  • 1019 Neville Ln Orlando, FL 3
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1991
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.73
    •  
PROPERTY LISTING DETAILS
Pamela Seetaram
1.407.298.7704
Florida Quality Homes & Invest
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5915357
Last Updated: 01/08/2021
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