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3411 Carriage Lake Dr Orlando, FL 32828

4 Beds 3 Baths 2,437 sqft Built 2001

$385,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $157.98
  • 3 Days on Market
  • MLS # : O5905714
  • Updated Date : 11/14/2020 at 13:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,437 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kona Realty Servicess Llc

Listing Agent's Description

Beautiful 2 story, 4 bedroom, 2.5 Bathroom, 2437 sf single family home in desirable Avalon Park. This house is full of upgrades including a new AC (2019), 16,9" x 16'9" screened in patio with additional paved and fenced area in the backyard - great for entertaining! The master suite features a 6 x 6 ft closet with separate tub and shower and double sinks. The Kitchen also has a butler's pantry (6'8" x 5'2") between the Kitchen and Formal Dining Room. New stainless steel range (Fridge is not included). Upstairs bathroom was just renovated this year with upgraded sliding shower door and new tiles. Floors are wood and tile throughout. New ceiling fans on the 2nd floor. Note: Ceiling fan in the front office/Living Room and Master Bedroom do not convey. All blinds included but window/treatments are not included. House faces a small park, perfect for dog walking. Just minutes from a community pool and downtown Avalon featuring Publix, CVS, YMCA, dining, and shopping options. A-rated schools (Avalon Elem, Avalon Middle and Timbercreek High School). Close to Hwy 528 and 408. Avalon Park is a family-centric community which holds Special Events such as Festivals (Avalon Aglow), Fireworks on major holidays, and Movies in the Park. Ideally located just approx 20 min to UCF'S Main Campus, it's also a short drive to Downtown Orlando, the Airport, and the Attractions . Less than an Hour's drive from some of Florida's Finest Beaches. A quaint, yet festive planned neighborhood, you'll immediately feel right at home! All measurements are approximate and should be verified by Buyer.

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: Avalon Park Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k333k

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

Neighborhood: Avalon Park Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10292106

* 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
Avalon Elementary School Primary Regular 937 62 8
Avalon Middle School Middle Regular 1,809 96 8
Timber Creek High School High Regular 3,132 161 8

Avalon Elementary School

  • Education Level: Primary
  • # of students: 937
  • # of teachers: 62
8
GreatSchools Rating

Avalon Middle School

  • Education Level: Middle
  • # of students: 1,809
  • # of teachers: 96
8
GreatSchools Rating

Timber Creek High School

  • Education Level: High
  • # of students: 3,132
  • # of teachers: 161
8
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,420
Property Tax -$438
Property Insurance -$182
HOA -$108
Property Management Fees -$183
CASH FLOW
-$301

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.

$385,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 6.1%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,303

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,029

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,0304$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 3411 Carriage Lake Dr Orlando, FL 3
    • 4 beds 3 baths ∙ 2,437 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,437 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.83
    •  
  • 14554 Cheever St Orlando, FL 1
    • 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2006
    property image
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 2469 Guiana Plum Dr Orlando, FL 2
    • 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2003
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 14069 Bradbury Rd Orlando, FL 4
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2004
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 2631 Rainbow Springs Ln Orlando, FL 5
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2002
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
PROPERTY LISTING DETAILS
Michelle Quatrale
1.407.353.6531
Kona Realty Servicess Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5905714
Last Updated: 11/14/2020
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