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2963 Youngford St Orlando, FL 32824

4 Beds 3 Baths 2,420 sqft Built 2014

$350,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $144.63
  • 4 Days on Market
  • MLS # : T3274435
  • Updated Date : 11/07/2020 at 13:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,420 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker/ Br

Listing Agent's Description

Welcome to Wyndham Lakes Estates. This beautiful waterfront 1 story home built in 2014 features 4 bedrooms, 3 bathrooms and 3 car garage. Open floor plan with eat in kitchen overlooking family room and lake. 42’ cabinets, granite counters, stainless appliances. Ceramic tile in all the living areas & engineered hardwood floors in the bedrooms. Seperated dining room and living room. Great for entertaining. Big master suite and closet. Also generous size bedrooms. Enjoy the great backyard water view in the covered patio. The community offers an abundance of amenities like the Playground, Club House, a Fitness Center, Aerobics, Swimming Pool, basketball and tennis courts. Great location with easy access to Orlando International Airport, Amusement Parks, shopping and dining.

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: Wyndham Lakes Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k321k

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

Neighborhood: Wyndham Lakes Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10282074

* 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,291
Property Tax -$402
Property Insurance -$181
HOA -$100
Property Management Fees -$185
CASH FLOW
-$99

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.

$350,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 4.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,457

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,057

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9753$2,0604$2,1005$2,175
$2,175
RENT COMPS ANALYSIS
  • 2963 Youngford St Orlando, FL 3
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.85
    •  
  • 1758 Penrith Loop Orlando, FL 1
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2013
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.77
    •  
  • 3052 Youngford St Orlando, FL 2
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2014
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.82
    •  
  • 14760 Crosston Bay Ct Orlando, FL 4
    • 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 2012
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 1830 Thetford Cir #6 Orlando, FL 5
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2014
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.89
    •  
PROPERTY LISTING DETAILS
Timothy Hines
1.561.777.0024
Coldwell Banker/ Br
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3274435
Last Updated: 11/07/2020
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