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245 Murcott Ct Orlando, FL 32835

3 Beds 2 Baths 1,461 sqft Built 1987

$225,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $154.00
  • 4 Days on Market
  • MLS # : O5904252
  • Updated Date : 11/06/2020 at 15:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,461 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Classic

Listing Agent's Description

New double pane windows and double pane sliding glass doors (2016), flooring (2019), solar hot water heater (2011). And that’s just the beginning of all that’s offered with this charming cul-de-sac home. As soon as you step inside your eyes will look up. Large skylights line the soaring ceiling to allow an abundance of natural light to fill the open space. The galley kitchen opens to family room – easy to watch the big game on TV while preparing snacks. Spacious eat-in nook with direct access to back yard. You’ll appreciate having a wood burning fireplace for those chilly winter nights. Spacious master retreat is in the front of the home and has enough room for sitting area or a desk. Large walk-in closet and easy to maintain step in shower. You’ll love that your 2nd bedroom has a walk-in closet, too. Third bedroom was converted to a den and is missing closet door and entrance door. Easy to convert back if desired. Solar fan in attic is a great energy savings feature. Huge, fenced back yard with nicely maintained lawn. Great location – short drive to SRs 408/429/FL Turnpike and many shopping/dining venues. Come see all that makes this home special!

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: Valencia Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $97k331k

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

Neighborhood: Valencia Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9882089

* 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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$830
Property Tax -$265
Property Insurance -$123
HOA -$13
Property Management Fees -$146
CASH FLOW
$244

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.

$225,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.6%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

10

YEARS SAVED

$38,208

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,611

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,6204$1,7255$1,850
$1,850
RENT COMPS ANALYSIS
  • 245 Murcott Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.11
    •  
  • 32 Grand Junction Blvd Orlando, FL 1
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1987
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.10
    •  
  • 7223 Seamans Blf Orlando, FL 2
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1982
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.04
    •  
  • 8138 Lesia Cir Orlando, FL 4
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1987
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.13
    •  
  • 7428 Herricks Loop Orlando, FL 5
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1989
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.14
    •  
PROPERTY LISTING DETAILS
John Cunningham
1.407.801.4141
Keller Williams Classic
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904252
Last Updated: 11/06/2020
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