Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3128 Sea Venture St Orlando, FL 32827

3 Beds 2 Baths 1,222 sqft Built 1961

$199,999

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $163.67
  • 6 Days on Market
  • MLS # : O5902409
  • Updated Date : 10/30/2020 at 16:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,222 sqft
  • Baths : 2 full
Listing Agent

The Realty Factor Inc

Listing Agent's Description

**SELLER HAS DIRECTED THAT HE WILL REVIEW OFFERS ON MONDAY @ 3PM** STOP, COLLABORATE, AND WRITE AN OFFER! Single family home on nearly a quarter acre in the Orlando city limits for under $200,000!!! This property features three bedrooms and two bathrooms, an updated adorable kitchen, and quaint screen room. As the old adage goes, "they don't make things like they used to," this Orlando charmer was built in 1961 in the days where Patsy Cline and Audrey Hepburn were in their prime; being built in '61 this house comes built completely out of block and features over 1,200 square feet of living space! The house features ceiling fans in the living and bedroom areas and has laminate and tile floors throughout the vast majority of the home! There is also a one-car attached garage and extra-long driveway for parking. The home is located in a community that is supported by a homeowner’s association and has a community pool to cool off in during the hot Florida summers. This property is priced to sell, with plenty of room in the price for the new buyer to have the opportunity to make this Florida historic charmer their own!

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: 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
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
 

$179,999$219,999$199,999

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$738
Property Tax -$255
Property Insurance -$109
HOA -$9
Property Management Fees -$122
CASH FLOW
$117

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.

$199,999

PROJECTED PRICE

$1,350

PROJECTED RENT

0.68%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $149,999
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$18,910

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,356

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,6383$1,650
$1,650
RENT COMPS ANALYSIS
  • 3128 Sea Venture St Orlando, FL 1
    • 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.10
    •  
  • 3160 Marsh Harbor Pl Orlando, FL 2
    • 4 beds 2 baths ∙ 1,433 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,433 Sqft ∙ Built 1961
    property image
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,638
    • $1.14
    •  
  • 2810 Flowertree Rd Belle Isle, FL 3
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1962
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
PROPERTY LISTING DETAILS
Joe Adkins
1.407.798.0311
The Realty Factor Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902409
Last Updated: 10/30/2020
BESbswy