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2722 John Paul Dr Orlando, FL 32810

3 Beds 2 Baths 1,377 sqft Built 1978

$219,800

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $159.62
  • 5 Days on Market
  • MLS # : O5902911
  • Updated Date : 10/31/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,377 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homevest Realty

Listing Agent's Description

Welcome home!! Located in the Briarcliff Subdivision in the Lockhart area, this 3 bedroom, 1 and 1/2 bath home features fresh neutral paint throughout, wood floors in main living areas with carpet in the bedrooms. This home also has a bonus room, washer/dryer hook ups and a large yard. Conveniently located near the Maitland Exchange, I-4, Forest City Rd., Seminole State College and loads of shopping and restaurants.

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: Briarcliff

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $67k253k

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

Neighborhood: Briarcliff

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9131712

* 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
 

$197,820$241,780$219,800

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$811
Property Tax -$250
Property Insurance -$118
Property Management Fees -$114
CASH FLOW
-$24

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.

$219,800

PROJECTED PRICE

$1,270

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 10.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,997

INVESTMENT

$63,997

Down Payment
$54,950
Rehab Estimate
$5,750
Closing Costs
$3,297

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,950
Loan Amount $164,850
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,215

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,277

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2703$1,3004$1,3755$1,450
$1,450
RENT COMPS ANALYSIS
  • 2722 John Paul Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.92
    •  
  • 7917 Plunkett Ave Orlando, FL 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1970
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 6818 Massa Ct #2 Orlando, FL 3
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1981
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.97
    •  
  • 2507 Calloway Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1958
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.91
    •  
  • 1502 Leeway Ave Orlando, FL 5
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1963
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Justin Lamanna, Jr
1.407.496.9191
Homevest Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902911
Last Updated: 10/31/2020
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