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219 Garden Cove Ct Orlando, FL 32835

3 Beds 2 Baths 1,172 sqft Built 1985

$250,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $213.31
  • 1 Days on Market
  • MLS # : O5958082
  • Updated Date : 07/13/2021 at 15:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,172 sqft
  • Baths : 2 full
Listing Agent

Property Logic Re

Listing Agent's Description

Charming and recently renovated 3/2 is now available! Just moments from all of the major expressways and theme parks sits this home is in the heart of it all. Upon arrival, you'll be blown away by the curb appeal due to a handsome structure, large front lawn and long driveway. Step inside the front door and you'll notice a wide open great room with views of the backyard from the front door and gorgeous laminate flooring throughout the entire home. The great room boasts high ceilings and a sliding glass door to your very private back yard. *Note, the back yard needs some landscaping to be transformed to your own private oasis away from it all. Head back inside past the great room to your kitchen. Once there, you'll find white shaker cabinets, stainless appliances, a closet pantry, granite counter tops and a spacious breakfast bar that's perfect for quick meals on the go. The master suite features a large closet and an en-suite bath. Down the hall is a full bathroom that is perfect for guests and splits the other 2 bedrooms up from the master suite. Call your Relator today and make an appointment to see this amazing home before it's history!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bentons Garden Cove

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $43k253k

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

Neighborhood: Bentons Garden Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8571712

* 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
Frangus Elementary School Primary Regular 619 44 4
Gotha Middle School Middle Regular 1,272 67 3
Olympia High School High Regular 2,990 134 7

Frangus Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 44
4
GreatSchools Rating

Gotha Middle School

  • Education Level: Middle
  • # of students: 1,272
  • # of teachers: 67
3
GreatSchools Rating

Olympia High School

  • Education Level: High
  • # of students: 2,990
  • # of teachers: 134
7
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$868
Property Tax -$284
Property Insurance -$106
Property Management Fees -$129
CASH FLOW
$132

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.

$250,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 5.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$23,982

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $1,231

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,4503$1,4954$1,5205$1,550
$1,550
RENT COMPS ANALYSIS
  • 219 Garden Cove Ct Orlando, FL 4
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.30
    •  
  • 7513 Pacific Heights Cir Orlando, FL 1
    • 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1989
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.94
    •  
  • 32 Grand Junction Blvd Orlando, FL 2
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1987
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.10
    •  
  • 1003 Neville Ln Orlando, FL 3
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1991
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.12
    •  
  • 7223 Seamans Blf Orlando, FL 5
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1982
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.04
    •  
PROPERTY LISTING DETAILS
Mark D'italia
1.321.303.8219
Property Logic Re
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5958082
Last Updated: 07/13/2021
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