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2857 Lyndscape St Orlando, FL 32833

3 Beds 2 Baths 1,930 sqft Built 2005

$299,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

$85,224

Investment Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $155.39
  • 2 Days on Market
  • MLS # : S5046184
  • Updated Date : 02/07/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,930 sqft
  • Baths : 2 full
Listing Agent

Radius Realty Group Llc

Listing Agent's Description

Bright and spacious 3 bedroom home located in the gated community Reserve at Wedgefield. This home has lots of upgrades including new laminate flooring, tile in the wet areas, open kitchen with granite countertops,crown molding and a large open patio.The Reserve at Wedgefield HOA offers its homeowners several community amenities to include a playground, recreation area, 2 swimming pools, and gated entry. It is within minutes to the Wedgefield public golf course & Restaurant. Located east of Downtown Orlando and just 30 minutes to Cocoa Beach & Kennedy Space Center. Convenient to the airport & theme parks offering easy access to highway 50, SR 408 and the 528 Beeline. USDA Approved area! New paint inside and outside. New water heater .

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MARKET HIGHLIGHTS

Orlando Market Report
  • 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: Reserve at Wedgefield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $105k283k

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

Neighborhood: Reserve at Wedgefield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $9901712

* 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
Wedgefield K-8 School Primary Regular NA
Wedgefield K-8 School Middle Regular NA
East River High School High Regular 1,957 96 5

Wedgefield K-8 School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wedgefield K-8 School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East River High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 96
5
GreatSchools Rating
 

FINANCIALS

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$269,910$329,890$299,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,042
Property Tax -$341
Property Insurance -$151
HOA -$67
Property Management Fees -$129
CASH FLOW
-$30

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.

$299,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.4%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment		 $74,975
Rehab Estimate		 $5,750
Closing Costs		 $4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT

  • $0.88

    LIST RENT PER SQFT

  • $1,737

    COMP ESTIMATED VALUE

  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6454$1,7005$1,950
$1,950
RENT COMPS ANALYSIS
  • 2857 Lyndscape St Orlando, FL 4
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 19656 Knight Tale Ln Orlando, FL 1
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2004
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 2657 Lyndscape St Orlando, FL 2
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2005
    property image
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 2241 Baker Ave #1 Orlando, FL 3
    • 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1991
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.92
    •  
  • 2560 Alabaster Ave Orlando, FL 5
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2001
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Idanis Ramia
1.407.591.0772
Radius Realty Group Llc
BUYER AGENT
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
SOURCE
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5046184
Last Updated: 02/07/2021

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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