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2111 Corner Point Ct Orlando, FL 32820

4 Beds 2 Baths 1,878 sqft Built 2005

$270,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $143.77
  • 3 Days on Market
  • MLS # : O5915737
  • Updated Date : 01/09/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,878 sqft
  • Baths : 2 full
Listing Agent

Re/max Innovation

Listing Agent's Description

Come see this great home in a nice community in East Orlando at Corner Lakes. This home is situated in a small community which is surrounded by natural conversation. This home features 4 nice size bedrooms and 2 baths, combo living and dinning rooms. Vaulted ceilings, decorative niches, planters and arched doorways throughout the home. From the foyer you have 2 bedrooms up front and the master and second bedroom are towards the back. The Master bath has dual sink, walk-in closet, garden tub and separate shower stall. It also has a door leading to the back yard. Off the side of these bedrooms you have a family room which leads to the backyard. Nice size kitchen with stainless steel appliances, breakfast bar and kitchenette area. Updates include: ROOF REPLACED 2019, Interior recently Painted 1/2021. Home alarm system with cameras, monitor system are included. This home is priced to sell and consideration was taken to adjust for carpet replacement. All appliances are included. Come see this home before its gone. Conveniently located close to shops, schools, restaurants, Hwy 50/528/95/408 and minutes to the Beaches.

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: Corner Lake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $105k288k

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

Neighborhood: Corner Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9741842

* 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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$938
Property Tax -$318
Property Insurance -$148
HOA -$33
Property Management Fees -$129
CASH FLOW
$143

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.

$270,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 10.5%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$25,651

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,742

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,685
1$1,6852$1,6953$1,7104$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 2111 Corner Point Ct Orlando, FL 3
    • 4 beds 2 baths ∙ 1,878 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,878 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.91
    •  
  • 2181 Hammock Moss Dr Orlando, FL 1
    • 4 beds 2 baths ∙ 1,823 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,823 Sqft ∙ Built 2002
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.92
    •  
  • 16609 Corner Lake Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2005
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 1845 Corner Meadow Cir Orlando, FL 4
    • 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 2004
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 17403 Cascades Hill Ct Orlando, FL 5
    • 4 beds 2 baths ∙ 1,849 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,849 Sqft ∙ Built 2002
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.96
    •  
PROPERTY LISTING DETAILS
Millie Brockmeyer
1.407.970.9782
Re/max Innovation
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5915737
Last Updated: 01/09/2021
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