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20507 Maxim Pkwy Orlando, FL 32833

3 Beds 3 Baths 2,075 sqft Built 1987

$330,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $159.04
  • 7 Days on Market
  • MLS # : O5931601
  • Updated Date : 03/27/2021 at 10:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,075 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great opportunity to own a fantastic home in the wonderful Wedgefield neighborhood. The house received a 2021 makeover with a fresh interior paint and new carpet throughout. A new stove, sink and laminate flooring in the kitchen. Two new toilets in the bathrooms. A new Garage door in front of a 22x20 storage garage. A Large living room and family room with a fire place gives enough space to spread out. Entertain everyone n the 30x13 covered and screened in porch. Indoor laundry room. If you love golf or want to learn...you can walk across the street to the Wedgefield Golf Country Club. Make your appointment today to make 20507 Maxim Parkway your home.

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: Cape Orl Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k334k

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

Neighborhood: Cape Orl Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10281899

* 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
Wedgefield K-8 School Primary Regular NA
Wedgefield K-8 School Middle Regular NA
East River High School High Regular 1,957 96 5

Wedgefield K-8 School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wedgefield K-8 School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East River High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 96
5
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,146
Property Tax -$375
Property Insurance -$160
Property Management Fees -$129
CASH FLOW
-$151

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.

$330,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.7%
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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,024

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,800

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6453$1,6604$1,8005$1,950
$1,950
RENT COMPS ANALYSIS
  • 20507 Maxim Pkwy Orlando, FL 3
    • 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.80
    •  
  • 2657 Lyndscape St Orlando, FL 1
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2005
    property image
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 2241 Baker Ave #1 Orlando, FL 2
    • 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1991
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.92
    •  
  • 2432 Bancroft Blvd Orlando, FL 4
    • 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1991
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 2560 Alabaster Ave Orlando, FL 5
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2001
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
PROPERTY LISTING DETAILS
Greg Landy
1.407.463.5733
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5931601
Last Updated: 03/27/2021
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