Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2401 Amherst Ave Orlando, FL 32804

3 Beds 3 Baths 1,817 sqft Built 2020

INVESTimate

$499,888

List Price

$2,350

$2,115 - $2,585

Rent Est.

$535,180  ( +7.06%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $275.12
  • 6 Days on Market
  • MLS # : O5887044
  • Updated Date : 08/22/2020 at 21:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,817 sqft
  • Baths : 2 full , 1 half
Listing Agent

La Rosa Realty Orlando Llc

Listing Agent's Description

One or more photo(s) has been virtually staged. NO HOA, NEW CONSTRUCTION - MOVE IN READY* Welcome to this beautiful CORNER Lot 3/3 Home located in the HEART OF COLLEGE PARK, centrally located, blocks aways from PRINCETON elementary and all the restaurants/shopping on Edgewater Dr. HIGH CEILINGS, OPEN FLOOR PLAN, Kitchen with CALACATTA QUARTZ countertops, 42” inc 100% wood cabinets with soft close doors, STAINLESS STEEL APPLIANCES. Upstairs you will find your open loft space that is facing 4 beautiful LARGE windows that bring in the Natural LIGHT. The FRENCH doors will lead you to the MASTER BEDROOM and bathroom with Calcatta Quarz. Make your way to the hallway to find the 2nd and 3rd bedroom/office that share a Gorgeous Bathroom with Quartz Countertops with Shower Stall.WINTER PARK and DOWNTOWN Orlando less than 8mins away. WATCH VIDEO & 3D TOUR!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Princeton Elementary School Primary Magnet 488 37 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Princeton Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 37
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
 

$449,899$549,877$499,888

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,844
Property Tax -$621
Property Insurance -$145
Property Management Fees -$212
CASH FLOW
-$472

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$499,888

PROJECTED PRICE

$2,350

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.06%
Maintenance Year (1-5) 3.00%
Vacancy 5.99%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,470

INVESTMENT

$134,470

Down Payment
$124,972
Rehab Estimate
$2,000
Closing Costs
$7,498

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,972
Loan Amount $374,916
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,686

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $2,562

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3503$2,4954$2,8005$3,150
$3,150
RENT COMPS ANALYSIS
  • 2401 Amherst Ave Orlando, 2
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.29
    •  
  • 1686 N Shore Ter Orlando, 1
    • 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 2016
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.29
    •  
  • 1441 Harmon Ave Winter Park, 3
    • 4 beds 4 baths ∙ 1,840 Sqft ∙ Built 2006 4 beds 4 baths ∙ 1,840 Sqft ∙ Built 2006
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.36
    •  
  • 719 Guernsey St Orlando, 4
    • 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2014
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.49
    •  
  • 29 W Steele St Orlando, 5
    • 3 beds 3 baths ∙ 2,101 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,101 Sqft ∙ Built 2016
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.50
    •  
PROPERTY LISTING DETAILS
Arthur Love
1.917.600.7284
La Rosa Realty Orlando Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887044
Last Updated: 08/22/2020
BESbswy