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2405 Abalone Blvd Orlando, FL 32833

4 Beds 3 Baths 2,730 sqft Built 1994

$325,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $119.05
  • 2 Days on Market
  • MLS # : O5957540
  • Updated Date : 07/12/2021 at 18:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,730 sqft
  • Baths : 3 full
Listing Agent

Premium Properties R.e Service

Listing Agent's Description

Wedgefield Home, Four Bedroom Three Bathroom Home On Large Corner Lot. This Home Has Lots Of Potential, Needs Some TLC. Large Living And Dining Combo. Separate Family Room. All Bedrooms Are On The Second Floor. Enclosed Patio. Master Suite Is Oversized And Master Bathroom Has Dual Vanity Sinks, Soaking Tub and Separate Stand Alone Shower. Located Just 20 Minutes From The Orlando International Airport And Lake Nona Medical City. 30 Minutes To The East And You Can Be Dipping Your Toes In The Atlantic Ocean At Cocoa Beach. Make Your Appointment To See This One Today. Welcome Home!!

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: Cape Orl Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k334k

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

Neighborhood: Cape Orl Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10281899

* 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
Wedgefield K-8 School Primary Regular NA
Wedgefield K-8 School Middle Regular NA
East River High School High Regular 1,957 96 5

Wedgefield K-8 School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wedgefield K-8 School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East River High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 96
5
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,129
Property Tax -$383
Property Insurance -$199
HOA -$4
Property Management Fees -$129
CASH FLOW
$216

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.

$325,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
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$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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$35,427

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,088

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,0003$2,0604$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2405 Abalone Blvd Orlando, FL 3
    • 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.75
    •  
  • 2281 Ardon Ave Orlando, FL 1
    • 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 1995
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.80
    •  
  • 2818 Ballard Ave Orlando, FL 2
    • 4 beds 3 baths ∙ 3,038 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,038 Sqft ∙ Built 2008
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.66
    •  
  • 2805 Ballard Ave Orlando, FL 4
    • 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1996
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 20432 Melville St #4 Orlando, FL 5
    • 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1997
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
PROPERTY LISTING DETAILS
Charlene Minter
1.407.466.7292
Premium Properties R.e Service
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5957540
Last Updated: 07/12/2021
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