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2805 Ballard Ave Orlando, FL 32833

4 Beds 3 Baths 2,660 sqft Built 1996

$329,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $123.68
  • 5 Days on Market
  • MLS # : O5916812
  • Updated Date : 01/15/2021 at 12:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,660 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome to Wedgefield!!! Where you have a little bit of everything!! Nestled halfway between Cocoa Beach and Walt Disney World, 20 minutes to Orlando International Airport, and 30-40 minutes from everything else in Central Florida, you'll find a unique and highly desirable Equestrian and Golf community. Wedgefield boasts many amenities such as Hal Scot Preserve with a boat launch and horse trails, a Golf course, clubhouse, sidewalks, parks, basketball court, baseball diamond, tennis courts, skate park, PLUS its very own K-8th grade school!!!! Oh, wait!!! Did you see the HOA fee is only $50 a YEAR (optional)??!!! This tiled roof home features 4 bedrooms, 3 full bathrooms, an eat-in kitchen, and tons of storage space!! As you enter, you'll be welcomed with soaring ceilings in your dining/living room combo. Relax in your large family room and enjoy your golf course view and mature landscaping. Upstairs, you'll love having a large Master Bedroom with a separate garden tub/shower and oversized walk-in closet! The additional 3 bedrooms and secondary bathroom are down the hall. Each are spacious and have large closets. This house served as a vacation property and has never been lived in! The space and community amenities for this price will be hard to beat!! Come make this yours today!! Contact Brandi Tropf with exp realty for a private tour.

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: 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
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,143
Property Tax -$374
Property Insurance -$195
HOA -$4
Property Management Fees -$129
CASH FLOW
$15

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.

$329,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.57%

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$1.0M$1.2M

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$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$17,506

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,048

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8003$1,8604$1,9995$2,200
$2,200
RENT COMPS ANALYSIS
  • 2805 Ballard Ave Orlando, FL 3
    • 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.70
    •  
  • 3049 Leflore Ln Orlando, FL 1
    • 3 beds 3 baths ∙ 2,328 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,328 Sqft ∙ Built 2005
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 2432 Bancroft Blvd Orlando, FL 2
    • 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1991
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 2281 Ardon Ave Orlando, FL 4
    • 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 1995
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.80
    •  
  • 20432 Melville St #4 Orlando, FL 5
    • 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1997
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
PROPERTY LISTING DETAILS
Brandi Tropf
1.407.616.1444
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916812
Last Updated: 01/15/2021
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