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

2465 River Ridge Dr Orlando, FL 32825

4 Beds 2 Baths 1,928 sqft Built 1996

$302,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $156.64
  • 2 Days on Market
  • MLS # : O5922974
  • Updated Date : 02/13/2021 at 21:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,928 sqft
  • Baths : 2 full
Listing Agent

Trust Equity Group Llc

Listing Agent's Description

Looking for move in ready? We have got it covered! Welcome to River Ridge one of Orlando's most desirable communities! This beautiful conservation lot home has been upgraded with meticulous attention to details. As you walk in, you will be greeted by the warm formal living and dining rooms. These areas open to a spacious kitchen extending to the breakfast nook and alcove flowing into the large great room to sit, sip, relax, and enjoy the rear conservation. This home boasts a gorgeous kitchen with updated cabinetry and granite solid surface counter tops, tile backsplash, and stainless-steel appliances. The home has vaulted and high ceilings with tons of natural light overlooking the enclosed lanai with no rear facing neighbors. Perfect for the entertaining types. This home has too many features to list and will not last long! New roof, new hvac, and all new energy conserving windows.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Orlando metro employment growth is at 3.5% and predicted to grow at 2.5% in 2019 (USMayors.org, 2018)

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
Legacy Middle School Middle Regular 974 49 3
University High School High Magnet 3,111 141 5

Cypress Springs Elementary School

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

Legacy Middle School

  • Education Level: Middle
  • # of students: 974
  • # of teachers: 49
3
GreatSchools Rating

University High School

  • Education Level: High
  • # of students: 3,111
  • # of teachers: 141
5
GreatSchools Rating
 

$271,800$332,200$302,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,049
Property Tax -$343
Property Insurance -$151
HOA -$14
Property Management Fees -$129
CASH FLOW
$53

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.

$302,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,780

INVESTMENT

$85,780

Down Payment
$75,500
Rehab Estimate
$5,750
Closing Costs
$4,530

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,500
Loan Amount $226,500
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$22,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,706

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,7403$1,7504$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 2465 River Ridge Dr Orlando, FL 2
    • 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.90
    •  
  • 9837 Doriath Cir Orlando, FL 1
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2004
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 9774 Doriath Cir Orlando, FL 3
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2004
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 10039 Silmarien St Orlando, FL 4
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 9842 Doriath Cir Orlando, FL 5
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
PROPERTY LISTING DETAILS
Rhonda Fisher
1.407.463.9163
Trust Equity Group Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5922974
Last Updated: 02/13/2021
BESbswy