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2907 Musselwhite Ave Orlando, FL 32804

3 Beds 3 Baths 1,840 sqft Built 2004

$409,500

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $222.55
  • 8 Days on Market
  • MLS # : O5901903
  • Updated Date : 11/02/2020 at 14:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,840 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mainframe Real Estate

Listing Agent's Description

This move-in ready, 3 bedroom, 2.5 bathroom home with a 2-car garage is located in the heart of College Park. The spacious, upgraded kitchen is perfect for entertaining. It opens up to the living room and dining room areas, featuring granite countertops, 42” solid wood cabinets, a breakfast nook, and a breakfast bar. You’ll love the high ceilings and the open floor plan with tons of natural light. Your french doors in the living room open up to your private, low-maintenance, pavered yard with plenty of space for an evening BBQ. The laundry room and the bedrooms are located upstairs, including the ample sized owner’s suite, with plenty of room for a sitting area, desk, or home gym. The ensuite bathroom doesn’t disappoint, with a walk-in closet, double sink vanity with lots of counter space and storage space, a garden tub, and a separate shower. The amount of storage space in this home is enviable, especially when comparing this home to others located in College Park! This home is centrally located, close to all major roadways, and a short bike ride from the shops and restaurants on Edgewater Drive, Ivanhoe Row, Mathews Park, Dubsdread Country Club & Golf Course and more!

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: College Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $105k383k

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

Neighborhood: College Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10292089

* 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
Princeton Elementary School Primary Magnet 488 37 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Princeton Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 37
8
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
 

$368,550$450,450$409,500

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,511
Property Tax -$521
Property Insurance -$146
Property Management Fees -$193
CASH FLOW
-$231

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.

$409,500

PROJECTED PRICE

$2,140

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,268

INVESTMENT

$114,268

Down Payment
$102,375
Rehab Estimate
$5,750
Closing Costs
$6,143

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,375
Loan Amount $307,125
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$6,659

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,176

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,1003$2,1404$2,4005$2,495
$2,495
RENT COMPS ANALYSIS
  • 2907 Musselwhite Ave Orlando, FL 3
    • 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.16
    •  
  • 2500 Elizabeth Ave Orlando, FL 1
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1994
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 1686 N Shore Ter Orlando, FL 2
    • 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 2016
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.29
    •  
  • 1517 Harmon Ave Winter Park, FL 4
    • 4 beds 4 baths ∙ 2,035 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,035 Sqft ∙ Built 2005
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.18
    •  
  • 1441 Harmon Ave Winter Park, FL 5
    • 4 beds 4 baths ∙ 1,840 Sqft ∙ Built 2006 4 beds 4 baths ∙ 1,840 Sqft ∙ Built 2006
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.36
    •  
PROPERTY LISTING DETAILS
Beth Hobart
1.407.227.8192
Mainframe Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5901903
Last Updated: 11/02/2020
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