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3024 Eglington Dr Orlando, FL 32806

3 Beds 2 Baths 1,316 sqft Built 1997

$315,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $239.36
  • 5 Days on Market
  • MLS # : O5929342
  • Updated Date : 03/11/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,316 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Heritage Realty

Listing Agent's Description

Location Location Location! 2.7 miles to ORMC, 4 miles to downtown Orlando, convenient to everything! This a great block construction home with 3 bedrooms and 2 bathrooms. AC installed in 2018 and new roof put on in 2020. Come see it before it's gone!

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: Lake Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k334k

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

Neighborhood: Lake Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10282025

* 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
Kaley Elementary School Primary Regular 218 22 NA
Boone High School High Magnet 2,763 141 7
Lake Como Elementary School Primary Unknown NA

Kaley Elementary School

  • Education Level: Primary
  • # of students: 218
  • # of teachers: 22
NA
GreatSchools Rating

Boone High School

  • Education Level: High
  • # of students: 2,763
  • # of teachers: 141
7
GreatSchools Rating

Lake Como Elementary School

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

$283,500$346,500$315,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,094
Property Tax -$391
Property Insurance -$115
HOA -$63
Property Management Fees -$129
CASH FLOW
-$122

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.

$315,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.4%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,457

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,579

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6703$1,6954$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 3024 Eglington Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.27
    •  
  • 1614 Jessamine Ave Orlando, FL 1
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1983
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.36
    •  
  • 1594 Jessamine Ave Orlando, FL 3
    • 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1989
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.19
    •  
  • 3843 Brandy St Orlando, FL 4
    • 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1990
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.15
    •  
  • 1854 Osman Ave Orlando, FL 5
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1996
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.10
    •  
PROPERTY LISTING DETAILS
Mark Adams
1.407.617.7808
Keller Williams Heritage Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5929342
Last Updated: 03/11/2021
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