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2849 Charing Cross Way Orlando, FL 32837

3 Beds 2 Baths 1,161 sqft Built 1979

$250,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $215.33
  • 2 Days on Market
  • MLS # : S5045205
  • Updated Date : 01/16/2021 at 14:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,161 sqft
  • Baths : 2 full
Listing Agent

La Rosa Realty Kissimmee

Listing Agent's Description

Fantastic opportunity to purchase a beautiful home remodeled. Inside large living areas offer plenty of room for entertaining. The dinning area looks at both the living room with large double pane windows in addition to double pane sliders that open to the screened porch with a view of the fenced backyard. The kitchen also offers a great view of the backyard in addition to a refresh a few years ago with new counter tops, appliances and plenty storage. All rooms offer double pane windows. The floor in the living room and the master bedroom is new (bamboo). The house is freshly painted inside and outside. And has a system that filters and purifies the water for the whole house. Home is sold AS/IS.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Neighborhood: Sky Lake South

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Sky Lake South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8631712

* 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$868
Property Tax -$280
Property Insurance -$105
HOA -$17
Property Management Fees -$129
CASH FLOW
-$159

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.

$250,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
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-$4.0k-$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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$3,310

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $926

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$895
1$8952$1,0003$1,0954$1,1005$1,240
$1,240
RENT COMPS ANALYSIS
  • 2849 Charing Cross Way Orlando, FL 5
    • 3 beds 2 baths ∙ 1,161 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,161 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $1.07
    •  
  • 11515 Wingham Ct Orlando, FL 1
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1992
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.72
    •  
  • 11327 Zodiac Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 1978
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.76
    •  
  • 11730 Broad Oak Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1993
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.87
    •  
  • 2110 Paprika Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1986
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.84
    •  
PROPERTY LISTING DETAILS
Diego Martinez Liendo
1.407.800.1393
La Rosa Realty Kissimmee
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5045205
Last Updated: 01/16/2021
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