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

2461 River Ridge Dr Orlando, FL 32825

3 Beds 2 Baths 1,559 sqft Built 1996

INVESTimate

$270,000

List Price

$1,410

$1,269 - $1,551

Rent Est.

$291,708  ( +8.04%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $173.19
  • 6 Days on Market
  • MLS # : O5886711
  • Updated Date : 08/23/2020 at 14:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,559 sqft
  • Baths : 2 full
Listing Agent

Era Grizzard Real Estate

Listing Agent's Description

Come see this 3/2 home with no rear neighbors. Walk in to an open floor plan with living and dining room combo. The kitchen has bar space for entertaining while you cook. High ceilings with two sky lights brings in the natural light during the day. The master has a large bathroom with garden tub and separate shower. Have piece of mind with a new roof in 2019 and the a/c was replaced in 2015. Convenient location to Hwy 417 to get to anywhere in Orlando, UCF, Waterford Lakes shopping and the airport too. Call you agent to day!

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: Curry Ford Road East

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k331k

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

Neighborhood: Curry Ford Road East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9272089

* 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
Cypress Springs Elementary School Primary Regular 758 53 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Cypress Springs Elementary School

  • Education Level: Primary
  • # of students: 758
  • # of teachers: 53
9
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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$996
Property Tax -$307
Property Insurance -$129
HOA -$14
Property Management Fees -$127
CASH FLOW
-$164

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.

$270,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.04%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,546

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,239

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,1953$1,3004$1,4105$1,500
$1,500
RENT COMPS ANALYSIS
  • 2461 River Ridge Dr Orlando, 4
    • 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.90
    •  
  • 2761 Curpin Ln Orlando, 1
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2004
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.75
    •  
  • 9925 Cypress Knee Cir Orlando, 2
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2004
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.76
    •  
  • 9961 Cypress Knee Cir Orlando, 3
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2003
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.80
    •  
  • 10196 Andover Point Cir Orlando, 5
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2003
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Franki Gonzalez
1.954.918.4665
Era Grizzard Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5886711
Last Updated: 08/23/2020
BESbswy