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1900 Rock Lake Dr Orlando, FL 32805

3 Beds 2 Baths 1,488 sqft Built 1960

$239,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $161.22
  • 6 Days on Market
  • MLS # : O5902005
  • Updated Date : 10/31/2020 at 06:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,488 sqft
  • Baths : 2 full
Listing Agent

Revolution Realty

Listing Agent's Description

Beautiful Fully Remodeled 3/2 on oversized corner lot!!! This spacious open floor plan is perfect for entertaining. The newly reimagined kitchen features stainless steel appliances, eat in kitchen bar, granite countertops, soft close cabinets, stylish backsplash, as well as hooded range. Open floor plan with plenty of flex space. This home sits on an oversized corner lot with mature trees. New roof. Fenced backyard. Room sizes are subject to verification. This property will not last long!

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: Rock Lake

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Rock Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8951712

* 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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$885
Property Tax -$315
Property Insurance -$125
Property Management Fees -$121
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.

$239,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 14.2%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,431

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,358

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3403$1,3754$1,4975$1,595
$1,595
RENT COMPS ANALYSIS
  • 1900 Rock Lake Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.90
    •  
  • 416 Sun Ct Orlando, FL 1
    • 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1960
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 1815 Rock Lake Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1960
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.97
    •  
  • 606 N Rio Grande Ave Orlando, FL 4
    • 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1956
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,497
    • $0.87
    •  
  • 316 N Lakeland Ave Orlando, FL 5
    • 4 beds 3 baths ∙ 1,678 Sqft ∙ Built 1957 4 beds 3 baths ∙ 1,678 Sqft ∙ Built 1957
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
PROPERTY LISTING DETAILS
Christine Bennett
1.407.539.4111
Revolution Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902005
Last Updated: 10/31/2020
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