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3318 Florene Dr Orlando, FL 32806

3 Beds 2 Baths 1,736 sqft Built 1968

INVESTimate

$357,500

List Price

$1,850

$1,665 - $2,035

Rent Est.

$387,494  ( +8.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1968
  • Price/Sqft : $205.93
  • 4 Days on Market
  • MLS # : O5887214
  • Updated Date : 08/25/2020 at 12:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,736 sqft
  • Baths : 2 full
Listing Agent

Florida Realty Investments

Listing Agent's Description

This Charming Pershing area home*3/bedroom*2/bath*Split Floor Plan*2 Car Garage*NO HOA*New Roof*Newer AC*RARE Street to Street Large Lot*Fenced*Double Gate With Back Street Access for RV/Boat Parking*Large Family Room with Wood Floors, Features Wood Burning Fireplace Surrounded by Brick and Beautiful Matching Bookshelves*Formal Dining Room*Eat In Kitchen*Pantry*Brick Paver Patio, Front and Back*Mature Landscaping*NEW PERSHING K-8*SODO, South of downtown*convenient to the airport and hospital district of Orlando. Shopping and entertainment all close by.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Plaza Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $105k389k

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

Neighborhood: Plaza Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10282100

* 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
Boone High School High Magnet 2,763 141 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

Boone High School

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

$321,750$393,250$357,500

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,319
Property Tax -$407
Property Insurance -$140
Property Management Fees -$167
CASH FLOW
-$182

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.

$357,500

PROJECTED PRICE

$1,850

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.39%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,488

INVESTMENT

$100,488

Down Payment
$89,375
Rehab Estimate
$5,750
Closing Costs
$5,363

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,319

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,375
Loan Amount $268,125
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$5,573

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,853

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8503$1,8754$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 3318 Florene Dr Orlando, 2
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
  • 917 Sweetbriar Rd Orlando, 1
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1964
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
  • 3002 Illingworth Ave Orlando, 3
    • 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 1957
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.03
    •  
  • 3525 Marwood Dr Orlando, 4
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1964
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.11
    •  
  • 4425 S Fern Creek Ave Orlando, 5
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 1955
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.07
    •  
PROPERTY LISTING DETAILS
Tammi Pipkin
1.407.435.4387
Florida Realty Investments
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887214
Last Updated: 08/25/2020
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