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3022 Castle Harbor Dr Orlando, FL 32827

3 Beds 2 Baths 1,248 sqft Built 1961

$240,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $192.31
  • 3 Days on Market
  • MLS # : S5047458
  • Updated Date : 03/06/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,248 sqft
  • Baths : 2 full
Listing Agent

One Team Realty

Listing Agent's Description

This is your opportunity to own a remodelled property at Villages of Southport. This community offers a wide variety of amenities such as 2 community pools, Basketball courts, playgrounds, Clubhouse, Volleyball courts, Picnic areas and an RV/BOA Storage. This community is next to OIA, Lake Nona with quick access to Hwy 528, I-4 and 417. HOA includes Basic cable with HBO, Roof Maintenance, Exterior grounds and Paintings. This home is completely tiled throughout the house, remodelled Kitchen with Granite Counter tops, and Stainless Steel Appliances.

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: Southport

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Southport

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8261712

* 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
Sally Ride Elementary School Primary Regular NA
Walker Middle School Middle Regular 1,013 57 2
Oak Ridge High School High Magnet 2,633 127 3

Sally Ride Elementary School

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

Walker Middle School

  • Education Level: Middle
  • # of students: 1,013
  • # of teachers: 57
2
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 2,633
  • # of teachers: 127
3
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$834
Property Tax -$303
Property Insurance -$111
HOA -$121
Property Management Fees -$129
CASH FLOW
-$6

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.

$240,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 13.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$9,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,315

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4903$1,5004$1,650
$1,650
RENT COMPS ANALYSIS
  • 3022 Castle Harbor Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.19
    •  
  • 8532 Oak Bluff Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1961
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.03
    •  
  • 8422 Le Mesa St Orlando, FL 3
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1961
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 2810 Flowertree Rd Belle Isle, FL 4
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1962
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
PROPERTY LISTING DETAILS
Ruben Salvatella
1.407.414.6151
One Team Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5047458
Last Updated: 03/06/2021
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