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1732 Millbridge Ct Orlando, FL 32837

3 Beds 2 Baths 1,632 sqft Built 1995

$310,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $189.95
  • 2 Days on Market
  • MLS # : O5931499
  • Updated Date : 03/20/2021 at 22:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,632 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Winter Park

Listing Agent's Description

THE TURNKEY HOUSE YOU'VE BEEN WAITING FOR! Welcome to Southchase! A highly sought after neighborhood development with beautiful Florida style block/stucco homes, PALM TREES, great schools, restaurant and shopping! This newly renovated home has only had 1 previous owner and was never rented! New Roof 2018, New Paint inside and out Fall 2020, Newer Air Conditioning Unit inside and out, Newer Stainless Steel Fridge, Brand New Hampton Bay Fan with Remote, Brand New MARBLE (not builder grade granite in most homes) in Kitchen and both bathrooms with new faucets, New Stainless Steel Deep Kitchen Sink, Brand new grey laminate, New carpets in bedrooms 2020. The list goes on! Large Lot with privacy hedge in backyard. Screened in patio area, two car garage. Outdoor non-slip tile outside. Don't miss this opportunity for a fantastic home that has had only the original owner, and all major updates recently completed.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 32837

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $105k292k

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

Zip Code: 32837

ZipNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10191924

* 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
Southwood Elementary School Primary Regular 578 39 6
South Creek Middle School Middle Regular 949 54 4
Cypress Creek High School High Magnet 3,124 148 5

Southwood Elementary School

  • Education Level: Primary
  • # of students: 578
  • # of teachers: 39
6
GreatSchools Rating

South Creek Middle School

  • Education Level: Middle
  • # of students: 949
  • # of teachers: 54
4
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,124
  • # of teachers: 148
5
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,077
Property Tax -$364
Property Insurance -$134
HOA -$33
Property Management Fees -$129
CASH FLOW
-$106

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.

$310,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.2%
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-$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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,434

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,632

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6304$1,8005$1,910
$1,910
RENT COMPS ANALYSIS
  • 1732 Millbridge Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.00
    •  
  • 2122 Opilana St Orlando, FL 1
    • 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 1989
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
  • 1734 Snaresbrook Way Orlando, FL 2
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1994
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 1807 Crosswell Ct Orlando, FL 4
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1997
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 1715 Acker St Orlando, FL 5
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1995
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.05
    •  
PROPERTY LISTING DETAILS
Kevin Asenjo
1.407.844.5252
Keller Williams Winter Park
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5931499
Last Updated: 03/20/2021
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