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185 N Lakewood Cir Maitland, FL 32751

3 Beds 2 Baths 1,577 sqft Built 1971

$358,888

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $227.58
  • 4 Days on Market
  • MLS # : O5923115
  • Updated Date : 02/13/2021 at 14:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,577 sqft
  • Baths : 2 full
Listing Agent

La Rosa Realty Orlando Llc

Listing Agent's Description

One or more photo(s) has been virtually staged. WATCH VIDEO! ABSOLUTELY GORGEOUSLY RENOVATED AND COMPLETELY UPDATED MAITLAND HOME with PRIVATE LAKE ACCESS TO LAKE OF THE WOODS! NO HOA, Perfectly sited on a large 1/4 acre lot in Lakewood Shores with WATER VIEWS. A great private lake community in one of the area's most convenient locations! Home boasts a beautiful recently completed whole home renovation that has been done with great taste and attention to both form and function resulting in a breathtaking stylish bright open and airy home. A home that feels modern and chic while also functional and elegant. This great split floor plan is anchored by the kitchen/living combo and offers an expansive front living room and an additional office/seating area. Soothing light colors and plenty of new lighting throughout. You will love the large private master suite with a gorgeous new master bath. Two other generous bedrooms and an additional renovated full guest bath are in this split floor plan!! The FAMILY ROOM flows perfectly into the large SCREENED LANAI and out to the lush back yard making all of these outdoor areas a great natural extension of the interior living space. Just perfect for entertaining and family activities. You will appreciate the availability of usable space here. Both inside and out! Kitchen renovations include NEW SAMSUNG APPLIANCES, BRAND NEW cabinets, and GRANITE countertops. Almost new, roof(1-2 years) and fenced in backyard with space for a Boat. This is one of the most beautiful, move-in-ready, worry-free homes you are going to find. All this and located in a fantastic lake community with PRIVATE LAKE ACCESS TO LAKE OF THE WOODS! A fabulous recreational ski lake with great fishing! This is one of metro Orlando's best-kept secrets. Super convenient Maitland living just minutes to DT Orlando, DT Maitland, Winter Park, shopping, hospitals, Winter Park Village, and all connectors.

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: Lakewood Shores North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $90k328k

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

Neighborhood: Lakewood Shores North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9452428

* 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
English Estates Elementary School Primary Regular 829 59 6
South Seminole Middle School Middle Magnet 1,228 79 5
Lake Howell High School High Regular 2,229 117 6

English Estates Elementary School

  • Education Level: Primary
  • # of students: 829
  • # of teachers: 59
6
GreatSchools Rating

South Seminole Middle School

  • Education Level: Middle
  • # of students: 1,228
  • # of teachers: 79
5
GreatSchools Rating

Lake Howell High School

  • Education Level: High
  • # of students: 2,229
  • # of teachers: 117
6
GreatSchools Rating
 

$322,999$394,777$358,888

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,247
Property Tax -$362
Property Insurance -$130
Property Management Fees -$129
CASH FLOW
-$228

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.

$358,888

PROJECTED PRICE

$1,640

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 5.2%
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-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,855

INVESTMENT

$100,855

Down Payment
$89,722
Rehab Estimate
$5,750
Closing Costs
$5,383

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,722
Loan Amount $269,166
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6003$1,6004$1,6405$1,795
$1,795
RENT COMPS ANALYSIS
  • 185 N Lakewood Cir Maitland, FL 4
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.04
    •  
  • 807 Meiner Blvd Altamonte Springs, FL 1
    • 4 beds 2 baths ∙ 1,485 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,485 Sqft ∙ Built 1968
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
  • 120 Birchwood Dr Maitland, FL 2
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1959
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 230 Spartan Dr Maitland, FL 3
    • 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 1971
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
  • 365 Lake Seminary Cir Maitland, FL 5
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1956
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.19
    •  
PROPERTY LISTING DETAILS
Arthur Love
1.917.600.7284
La Rosa Realty Orlando Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5923115
Last Updated: 02/13/2021
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