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2814 Smithfield Dr Orlando, FL 32837

3 Beds 2 Baths 1,820 sqft Built 1992

$305,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $167.58
  • 3 Days on Market
  • MLS # : O5923421
  • Updated Date : 02/13/2021 at 22:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,820 sqft
  • Baths : 2 full
Listing Agent

Charisma Realty Corp

Listing Agent's Description

Beautiful one story 3 bed 2 bath home in Deerfield. Walk into Soaring vaulted ceilings throughout the majority of the home with tons of natural light. Ceramic Tile and Wood Laminate flooring throughout the entire home. No Carpeting! Kitchen overlooks the very large family room with views of the big backyard. Kitchen has breakfast bar, breakfast nook, and closet pantry. Kitchen is located in perfect location next to garage for ease of putting away your groceries. Living Room, Family Room, and Master Bedroom all have sliding glass doors out to the covered patio area. All of the appliances are included. They are older appliances but they are working. The Roof was replaced in 2004 after the Hurricanes. The AC was replaced around 2008. Hot water heater and garbage disposal were replaced around 2018 or 2019. Washing Machine was replaced in 2018. Dryer was replaced in 2019. Fence on both sides and gates was replaced after Hurricane Urma in 2017. Back fence is owned by the county.There is a small walkway with concrete pad which was previously used for a gazebo and outdoor furniture. Yard is one of larger yards in Deerfield and Deer Hollow. Plenty of Space to put in a Pool. Very close to major highways.

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: Deerfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $105k294k

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

Neighborhood: Deerfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10031934

* 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
John Young Elementary School Primary Regular 713 51 6
Freedom Middle School Middle Regular 1,040 58 3
Freedom High School High Regular 3,281 149 6

John Young Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 51
6
GreatSchools Rating

Freedom Middle School

  • Education Level: Middle
  • # of students: 1,040
  • # of teachers: 58
3
GreatSchools Rating

Freedom High School

  • Education Level: High
  • # of students: 3,281
  • # of teachers: 149
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,059
Property Tax -$341
Property Insurance -$145
HOA -$26
Property Management Fees -$129
CASH FLOW
-$31

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.

$305,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,142

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,793

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7253$1,8504$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 2814 Smithfield Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.92
    •  
  • 12607 Winfield Scott Blvd W Orlando, FL 2
    • 4 beds 2 baths ∙ 1,783 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,783 Sqft ∙ Built 2000
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.97
    •  
  • 13203 Chattanooga Ln Orlando, FL 3
    • 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2001
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 13201 Chattanooga Ln Orlando, FL 4
    • 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2001
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.00
    •  
  • 12543 Appomatox Dr Orlando, FL 5
    • 4 beds 2 baths ∙ 1,955 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,955 Sqft ∙ Built 2003
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.02
    •  
PROPERTY LISTING DETAILS
Charisma Marin
1.407.595.1624
Charisma Realty Corp
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5923421
Last Updated: 02/13/2021
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