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2621 Queen Mary Pl Maitland, FL 32751

3 Beds 2 Baths 2,130 sqft Built 1998

$405,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $190.14
  • 7 Days on Market
  • MLS # : O5918265
  • Updated Date : 02/01/2021 at 12:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,130 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome to Brittany Gardens, a Charming Gated Community featuring Florida Style homes built in the Mid 1990's on quaint lots. Highly sought after due to it's mature landscaping, manicured lawns, and architectural style.....An ideal home for Down-Sizing, Snow Birds, Professionals or First Time Home Buyers. This 3 Bed / 2 Bath home is nestled on a cul de Sac and has been meticulously maintained by the Original owner. The floor plan offers an inviting foyer with Wood Flooring, Coat Closet and Additional Storage Space. Spacious Kitchen with an abundance of Cabinet and Counter-top space, Island, Wood Flooring, Brain Station and Dinette with Bay Window. Living Room and Dining Room Combination with Custom Built in Cabinetry, Extensive Crown Molding and Recessed Lighting. A Private Master Wing with Walk-In Closet, Dual Sinks, Large Shower and thoughtful Laundry Room. Additional Bedrooms are generous in size with a guest bathroom located in between. Just minutes to Park Avenue in Winter Park, Maitland City Centre and Lake Lilly where you can enjoy Local Dining, Boutique Shopping, Farmer's Markets and Parks. Interlachen Country Club, The Racquet Club, WP9 are easily accessible. I-4, 417, Maitland Exchange and all the daily living needs such as Publix, Walgreens and CVS are within reach. Brittany Gardens Residents enjoy beautiful Common Areas that include Access to Howell Creek and Brittany Park.

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: Brittany Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $109k402k

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

Neighborhood: Brittany Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10282428

* 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
English Estates Elementary School Primary Regular 829 59 6
South Seminole Middle School Middle Magnet 1,228 79 5
Lake Howell High School High Regular 2,229 117 6

English Estates Elementary School

  • Education Level: Primary
  • # of students: 829
  • # of teachers: 59
6
GreatSchools Rating

South Seminole Middle School

  • Education Level: Middle
  • # of students: 1,228
  • # of teachers: 79
5
GreatSchools Rating

Lake Howell High School

  • Education Level: High
  • # of students: 2,229
  • # of teachers: 117
6
GreatSchools Rating
 

$364,500$445,500$405,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,407
Property Tax -$475
Property Insurance -$163
HOA -$63
Property Management Fees -$129
CASH FLOW
$113

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.

$405,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 5.2%
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$20k

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$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,407

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$29,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,684

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,864
1$1,8642$2,1003$2,3504$2,6005$3,500
$3,500
RENT COMPS ANALYSIS
  • 2621 Queen Mary Pl Maitland, FL 3
    • 3 beds 2 baths ∙ 2,130 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,130 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.10
    •  
  • 491 Julian Ln Maitland, FL 1
    • 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 1996
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,864
    • $1.02
    •  
  • 1913 Houndslake Dr Winter Park, FL 2
    • 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 1979
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.13
    •  
  • 2652 Queen Mary Pl Maitland, FL 4
    • 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 1996
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.43
    •  
  • 1460 Mayfield Ave Winter Park, FL 5
    • 3 beds 3 baths ∙ 2,393 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,393 Sqft ∙ Built 1991
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.46
    •  
PROPERTY LISTING DETAILS
Erin Tompkins
1.321.231.2262
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5918265
Last Updated: 02/01/2021
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