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2135 Chippewa Trl Maitland, FL 32751

3 Beds 2 Baths 1,987 sqft Built 1960

$399,900

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $201.26
  • 3 Days on Market
  • MLS # : O5904349
  • Updated Date : 11/07/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,987 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

MID CENTURY MODERN GEM WITH MAJESTIC OAK TREES! Do not miss this opportunity to own this exceptional home! With a little imagination and a DIY attitude this home can be brought into the current century and once again shine! This 3 bedroom and 2 bathroom home is located in a highly desirable neighborhood! The amazing potential in this home is immediately recognized as soon as you drive up to the home. SOLID CBS CONSTRUCTION WITH GOOD BONES! 2019 roof, insulation, and soffits. Skylights redone as well. 2019 A/C. Baths & kitchen are in good shape so with just a little work it can be ready for it's new owners. Nearby schools include Maitland Middle School, Dommerich Elementary School and Chabad Day School.

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: Dommerich Hills North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $110k447k

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

Neighborhood: Dommerich Hills North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10292644

* 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
Dommerich Elementary School Primary Regular 603 40 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Dommerich Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 40
8
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
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,475
Property Tax -$458
Property Insurance -$155
Property Management Fees -$206
CASH FLOW
-$4

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.

$399,900

PROJECTED PRICE

$2,290

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$22,356

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,355

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,945
1$1,9452$2,2903$2,4504$2,4885$2,600
$2,600
RENT COMPS ANALYSIS
  • 2135 Chippewa Trl Maitland, FL 2
    • 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.15
    •  
  • 719 Kewannee Trl Maitland, FL 1
    • 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 1965
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.01
    •  
  • 718 Ponca Trl Maitland, FL 3
    • 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 1963
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.17
    •  
  • 2330 Mohawk Trl Maitland, FL 4
    • 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 1962
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,488
    • $1.25
    •  
  • 1911 Mohican Trl Maitland, FL 5
    • 4 beds 2 baths ∙ 1,992 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,992 Sqft ∙ Built 1967
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.31
    •  
PROPERTY LISTING DETAILS
Alexander Haigh
1.772.284.1780
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904349
Last Updated: 11/07/2020
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