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1909 Lake Margaret Dr Orlando, FL 32806

3 Beds 2 Baths 2,554 sqft Built 1986

$464,900

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $182.03
  • 105 Days on Market
  • MLS # : O5895165
  • Updated Date : 12/19/2020 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,554 sqft
  • Baths : 2 full
Listing Agent

Realty Plus

Listing Agent's Description

Over 2,550 square feet of living area. Room for a 4th bedroom. Almost 1/2 acre secluded lot. No HOA. One owner custom built home. Step-saver kitchen, solid wood cabinets, granite countertops, stainless appliances. Formal dining room. Recreation/game room - 25ft. by 13ft. (Billiards table negotiable.) Central A/C. 4 ton 13 SEER air conditioning system. Brick exterior over block. Gas or Wood Fireplace w/electric blower & log storage closets. Game room with space for a pool table, exercise equipment, tall table and stools, dry bar etc.. Family room and game room feature surround sound speakers. Double hung windows have "push button release" for easy removal for cleaning. Jetted Hot Tub (220Volt) on spacious screen enclosed patio seats 6. Floored storage space in attic above garage. Large exterior storage shed. Block walls between garage and interior space. Roof is new this month. 4 zone lawn irrigation. Irrigation pump is fed by two wells. Cable outlets available throughout the home. OVERSIZED 2 car garage with cabinets. Additional carport with space for 3 automobiles. Owner is original builder and has taken extra measures to ensure a quality and comfortable home. Washer and dryer stay. Piano & TV do not convey.

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: Greenfield Manor

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $69k365k

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

Neighborhood: Greenfield Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8952006

* 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
Boone High School High Magnet 2,763 141 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

Boone High School

  • Education Level: High
  • # of students: 2,763
  • # of teachers: 141
7
GreatSchools Rating
 

$418,410$511,390$464,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,615
Property Tax -$529
Property Insurance -$189
Property Management Fees -$129
CASH FLOW
-$371

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.

$464,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,949

INVESTMENT

$128,949

Down Payment
$116,225
Rehab Estimate
$5,750
Closing Costs
$6,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,225
Loan Amount $348,675
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,773

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,235

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,0904$2,2005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1909 Lake Margaret Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 2,554 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,554 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.82
    •  
  • 2502 Vine St Orlando, FL 1
    • 4 beds 2 baths ∙ 2,417 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,417 Sqft ∙ Built 1969
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 625 Buckminster Cir Orlando, FL 2
    • 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 1998
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
  • 3420 Herringridge Dr Orlando, FL 4
    • 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2005
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 1316 Francis Ave Orlando, FL 5
    • 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2006
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.01
    •  
PROPERTY LISTING DETAILS
Anthony Marano
1.407.484.0268
Realty Plus
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5895165
Last Updated: 12/19/2020
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