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2261 Pipestone Ct Orlando, FL 32818

3 Beds 2 Baths 1,278 sqft Built 1972

$149,000

List Price

$1,070

$963 - $1.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $116.59
  • 5 Days on Market
  • MLS # : V4916210
  • Updated Date : 11/02/2020 at 12:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,278 sqft
  • Baths : 2 full
Listing Agent

Kariza Capital Realty, Llc

Listing Agent's Description

Amazing 3 bed 2 bath CBS, single family home with nearly 1300 sqft in HOT Orlando! This home has an oversized lot with nearly 10K sqft and an attached garage with over 200 sqft that can be converted to make it a 4 bed for optimal returns.The home has an open floor plan and only needs a cosmetic rehab but has solid bones. Property has Clear Title. CASH ONLY.

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: Hiawassa Highlands

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $61k253k

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

Neighborhood: Hiawassa Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8591712

* 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
 

$134,100$163,900$149,000

PURCHASE PRICE

$963$1,177$1,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,070
EXPENSES Loan Payment -$550
Property Tax -$169
Property Insurance -$112
Property Management Fees -$96
CASH FLOW
$142

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.

$149,000

PROJECTED PRICE

$1,070

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 11.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,235

INVESTMENT

$45,235

Down Payment
$37,250
Rehab Estimate
$5,750
Closing Costs
$2,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,250
Loan Amount $111,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$19,806

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,070

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $943

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$875
1$8752$9503$1,0704$1,1505$1,300
$1,300
RENT COMPS ANALYSIS
  • 2261 Pipestone Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,070
    • $0.84
    •  
  • 2217 Owasso Ct Orlando, FL 1
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1960
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.70
    •  
  • 6219 N Hudson St Orlando, FL 2
    • 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1958
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.73
    •  
  • 7519 Covedale Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1986
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.72
    •  
  • 7611 Havenford Ct Orlando, FL 5
    • 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 1986
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.80
    •  
PROPERTY LISTING DETAILS
Petru Pusta
1.248.514.9514
Kariza Capital Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: V4916210
Last Updated: 11/02/2020
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