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3218 Mattson Dr Orlando, FL 32825

3 Beds 2 Baths 1,487 sqft Built 2001

$290,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $195.02
  • 2 Days on Market
  • MLS # : O5908508
  • Updated Date : 11/28/2020 at 18:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,487 sqft
  • Baths : 2 full
Listing Agent

Lighthouse Realty & Management Of Florida Llc

Listing Agent's Description

Conservation lot charmer! Great 3 bedroom 2 bathroom home in Andover Lakes! Split floor plan with vaulted ceilings, gives this home an open feel. Ceiling fans in master bedroom and great room. Plenty of lighting throughout. Vinyl plank flooring in dining room/eat in kitchen area, roof replaced in 2018, A/C replaced in 2017, completely fenced in. Great location near Waterford Lakes Town Center, the 417 and 408. Community features park, playground, tennis courts. Come See this one today!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Andover Lakes Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k331k

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

Neighborhood: Andover Lakes Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9762089

* 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
Andover Elementary School Primary Regular 786 53 7
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Andover Elementary School

  • Education Level: Primary
  • # of students: 786
  • # of teachers: 53
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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,070
Property Tax -$330
Property Insurance -$125
HOA -$29
Property Management Fees -$148
CASH FLOW
-$61

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.

$290,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,758

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,465

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,6403$1,6804$1,6855$1,700
$1,700
RENT COMPS ANALYSIS
  • 3218 Mattson Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.10
    •  
  • 4327 Andover Cay Blvd Orlando, FL 1
    • 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 2001
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.88
    •  
  • 11020 Felton Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1993
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.00
    •  
  • 3308 Erskine Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2001
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.04
    •  
  • 4441 Andover Cay Blvd Orlando, FL 5
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2001
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.02
    •  
PROPERTY LISTING DETAILS
Sasha Westerman
1.321.987.9435
Lighthouse Realty & Management Of Florida Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5908508
Last Updated: 11/28/2020
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