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2849 Abbey Ave Orlando, FL 32833

4 Beds 3 Baths 2,414 sqft Built 2003

$338,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $140.39
  • 4 Days on Market
  • MLS # : U8106976
  • Updated Date : 12/11/2020 at 00:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,414 sqft
  • Baths : 2 full , 1 half
Listing Agent

La Rosa Realty St. Petersburg

Listing Agent's Description

Welcome Home!!!Vacant and Ready for a New family! Don't miss this incredible home sparkling clean with many upgrades. Fenced in backyard with a sparkling pool, great for entertaining guests! The interior features NO CARPETS!! fresh paint, laminate flooring, and a convenient split floor plan. Separate dining area with French doors leading out to the screened in patio. The eat-in kitchen features granite, recessed lighting, and new stainless steel refrigerator! Hall to the master bath have both sides with walking closets. The quiet neighborhood is very well located in a developing area at just 20 minutes of Orlando, close to the beach and the Cape Canaveral ease access to 528 and I95. Come see it before it's gone!

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: 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
 

$305,010$372,790$338,900

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 -$1,250
Property Tax -$396
Property Insurance -$180
Property Management Fees -$129
CASH FLOW
-$286

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.

$338,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,559

INVESTMENT

$95,559

Down Payment
$84,725
Rehab Estimate
$5,750
Closing Costs
$5,084

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,725
Loan Amount $254,175
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,870

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
  • $0.69

    LIST RENT PER SQFT
  • $1,804

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6704$1,9995$2,200
$2,200
RENT COMPS ANALYSIS
  • 2849 Abbey Ave Orlando, FL 3
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.69
    •  
  • 2739 Babbitt Ave Orlando, FL 1
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2007
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
  • 2332 Bagdad Ave #4 Orlando, FL 2
    • 3 beds 2 baths ∙ 2,341 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,341 Sqft ∙ Built 2003
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
  • 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
Cynthia Cabito
1.321.663.2772
La Rosa Realty St. Petersburg
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8106976
Last Updated: 12/11/2020
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