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2639 Alabaster Ave Orlando, FL 32833

3 Beds 2 Baths 1,490 sqft Built 1984

INVESTimate

$289,000

List Price

$1,540

$1,386 - $1,694

Rent Est.

$314,259  ( +8.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $193.96
  • 2 Days on Market
  • MLS # : O5887607
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,490 sqft
  • Baths : 2 full
Listing Agent

Keller Williams At The Parks

Listing Agent's Description

Beautifully maintained, open concept home with 3 bedrooms and 2 bathrooms. This home has the perfect layout for entertaining friends and family. You'll love the large living room with vaulted ceilings and gorgeous fireplace, open concept kitchen featuring a breakfast bar and stainless steel appliances. French doors lead out to your fabulous screened in pool and covered patio overlooking the golf course outback. Over-sized master suite with vaulted ceilings and private master bath with large walk in shower plus two more bedrooms down the hall that share the hall bath. You'll also enjoy having an indoor laundry room with access to your two car garage. Additional parking for your RV, boat or trailer. Located only 30 minutes from Cocoa Beach, 15 minutes from the airport, and 30 minutes from the theme parks. This home is completely move in ready! Newer wood floors in bedrooms, newer refrigerator and dishwasher and new hot water heater. Schedule your showing today.

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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: 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
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
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,066
Property Tax -$329
Property Insurance -$125
HOA -$4
Property Management Fees -$139
CASH FLOW
-$123

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.

$289,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.74%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,537

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,531

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5403$1,5504$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 2639 Alabaster Ave Orlando, 2
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.03
    •  
  • 20836 Melville St Orlando, 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, 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
    •  
  • 20123 Maxim Pkwy Orlando, 4
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1991
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 20514 Marlin St Orlando, 5
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1994
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.11
    •  
PROPERTY LISTING DETAILS
Thomas Nickley, Jr
1.321.945.1152
Keller Williams At The Parks
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887607
Last Updated: 08/26/2020
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