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2507 Abney Ave Orlando, FL 32833

3 Beds 2 Baths 1,574 sqft Built 1984

$249,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $158.20
  • 8 Days on Market
  • MLS # : O5922202
  • Updated Date : 02/08/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,574 sqft
  • Baths : 2 full
Listing Agent

Ameriteam Realty Inc

Listing Agent's Description

* Handyman Special * 3/2 located in the very desirable community of Wedgefield. * A/C was replaced in 2004 * Roof was replaced in 2011 * All the kitchen appliances work so it will pass appraisal inspection so you can get financing and if you want to live in it as you fix it up. Commuting distance to UCF, the Int' airport, Medical City / Lake Nona and the Space Coast. Come take a look at this house and all that Wedgefield has to offer.

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: 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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$865
Property Tax -$283
Property Insurance -$130
Property Management Fees -$129
CASH FLOW
$93

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.

$249,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$865

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$20,690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,523

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5003$1,5504$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 2507 Abney Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 20836 Melville St Orlando, FL 1
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1985
    property image
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.99
    •  
  • 20810 Marlin St Orlando, FL 3
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1984
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 20355 Mardi Gras St Orlando, FL 4
    • 4 beds 2 baths ∙ 1,632 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,632 Sqft ∙ Built 1998
    property image
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 2530 Abbey Ave #4 Orlando, FL 5
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2002
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Tom Lundy
1.407.392.1875
Ameriteam Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5922202
Last Updated: 02/08/2021
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