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2201 Florinda Dr Orlando, FL 32804

3 Beds 2 Baths 1,240 sqft Built 1995

$350,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $282.26
  • 3 Days on Market
  • MLS # : O5905687
  • Updated Date : 11/20/2020 at 11:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,240 sqft
  • Baths : 2 full
Listing Agent

Homevest Realty

Listing Agent's Description

This charming College Park 3/2 Bungalow was built in 1995 and it is move in ready! Split bedroom floor plan with fresh hardwood floors in the living/dining area and tile in the kitchen and baths. Beautiful granite counter top and back splash in the kitchen. Situated on a double lot with a relaxing fenced in garden area that is lovingly landscaped. Other great features of this home are the motorized awning in the garden, the A/C installed in 2016, security lights outside, 30 year architectural shingles, security system, and sprinkler system. This is a new home for College Park and it is all on one level. No stepping up or stepping down. A true single story. It is a terrific in-town location close to shopping and College Park eateries, parks and major highways and perfectly close to downtown Orlando and Winter Park!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Neighborhood: College Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $105k383k

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

Neighborhood: College Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10292089

* 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,291
Property Tax -$485
Property Insurance -$110
Property Management Fees -$158
CASH FLOW
-$285

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.

$350,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,024

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $1,519

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,7254$1,7605$1,900
$1,900
RENT COMPS ANALYSIS
  • 2201 Florinda Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.42
    •  
  • 800 Arlington St Orlando, FL 1
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1994
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.23
    •  
  • 1517 Eastin Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1983
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 612 Boardman St Orlando, FL 3
    • 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1987
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.32
    •  
  • 2217 Oberlin Ave Orlando, FL 5
    • 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1998
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.29
    •  
PROPERTY LISTING DETAILS
Kathy Williams
1.407.230.7305
Homevest Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5905687
Last Updated: 11/20/2020
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