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3236 Erskine Dr Orlando, FL 32825

4 Beds 3 Baths 2,156 sqft Built 2001

$315,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $146.10
  • 2 Days on Market
  • MLS # : O5903170
  • Updated Date : 11/02/2020 at 12:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,156 sqft
  • Baths : 2 full , 1 half
Listing Agent

Charles Rutenberg Realty Orlan

Listing Agent's Description

This house has been lovingly cared for by the original owners. Located in the Sanctuary section of Andover Lakes. The HVAC is 3 years new, water heater 1.5 years, Exterior paint & Stainless Steel Appliances 2 years, & 7 year old roof. The house has a Great room, Dining room, Flex room & eat in kitchen with an island open to the Great room plus a half bath downstairs. Upstairs are 4 bedrooms with 2 full baths. The master suite has a his & hers walk in closet, plus double sinks, garden tub & separate shower.The screened in porch is large & has a great view of the pond where there is nature abound.Bald eagles,cranes, quail, turkeys,otters,ducks, & deer. Plus blue jays, cardinals & large fish. No rear neighbors, just nature.Welcome Home.

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: 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
 

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

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,162
Property Tax -$359
Property Insurance -$165
HOA -$29
Property Management Fees -$176
CASH FLOW
$69

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

$1,960

PROJECTED RENT

0.62%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$23,195

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,763

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,7004$1,8005$1,960
$1,960
RENT COMPS ANALYSIS
  • 3236 Erskine Dr Orlando, FL 5
    • 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.91
    •  
  • 3131 Denham Ct Orlando, FL 1
    • 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 1992
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 2503 Cypress Trace Cir Orlando, FL 2
    • 4 beds 2 baths ∙ 2,039 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,039 Sqft ∙ Built 2001
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 3961 Andover Cay Blvd Orlando, FL 3
    • 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 2002
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 3136 Atwater Dr Orlando, FL 4
    • 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 1994
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Rachel Niemiec
1.407.221.9014
Charles Rutenberg Realty Orlan
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5903170
Last Updated: 11/02/2020
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