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1705 Brightmeadow Ct Orlando, FL 32818

4 Beds 2 Baths 1,675 sqft Built 1988

$299,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $179.04
  • 6 Days on Market
  • MLS # : O5908213
  • Updated Date : 12/01/2020 at 19:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,675 sqft
  • Baths : 2 full
Listing Agent

Castle Realty Professional Group Llc

Listing Agent's Description

Great 4 Bedroom 2 Bath home located on a huge fenced in corner lot ready to move in, with a new roof, new kitchen with granite counter tops, covered screened in patio and many more call today to schedule a showing.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Florence Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k262k

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

Neighborhood: Lake Florence Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10281712

* 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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,107
Property Tax -$342
Property Insurance -$136
Property Management Fees -$129
CASH FLOW
-$263

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.

$299,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 11.3%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,516

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4504$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 1705 Brightmeadow Ct Orlando, FL 3
    • 4 beds 2 baths ∙ 1,675 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,675 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 8635 Ridgemar Ct Orlando, FL 1
    • 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1989
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 8061 Windy Hill Way Orlando, FL 2
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1987
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
  • 7963 Village Green Rd Orlando, FL 4
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1988
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 1748 Brightmeadow Ct Orlando, FL 5
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1988
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jason Nagassar
1.407.810.5279
Castle Realty Professional Group Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5908213
Last Updated: 12/01/2020
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