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3496 Rolling Way Orlando, FL 32808

3 Beds 2 Baths 1,672 sqft Built 1970

INVESTimate

$205,995

List Price

$1,420

$1,278 - $1,562

Rent Est.

$231,580  ( +12.42%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1970
  • Price/Sqft : $123.20
  • 5 Days on Market
  • MLS # : O5887047
  • Updated Date : 08/23/2020 at 10:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,672 sqft
  • Baths : 2 full
Listing Agent

Zenith Homes Center Llc

Listing Agent's Description

Very well kept and ready to move in to. This property is essentially a bargain for its location. 1672 square feet living area for under 200K, where do i sign? The roof was replaced in 2017. Property features an awesome large back yard for big family gathering and weekend barbecue. Another great additional feature of the property is the system which shall have been fully paid for by the time the property is sold. All you need is the grill!

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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: Rolling Woods

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $54k253k

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

Neighborhood: Rolling Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7981712

* 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
 

$185,396$226,595$205,995

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$760
Property Tax -$227
Property Insurance -$136
Property Management Fees -$128
CASH FLOW
$169

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.

$205,995

PROJECTED PRICE

$1,420

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.42%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,339

INVESTMENT

$60,339

Down Payment
$51,499
Rehab Estimate
$5,750
Closing Costs
$3,090

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$760

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,499
Loan Amount $154,496
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$25,393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,513

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4203$1,5954$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 3496 Rolling Way Orlando, 2
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.85
    •  
  • 5309 Grandview Dr Orlando, 1
    • 4 beds 2 baths ∙ 1,479 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,479 Sqft ∙ Built 1959
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
  • 5608 Lejeune Dr Orlando, 3
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1958
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 5501 Perrine Dr Orlando, 4
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1958
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 3414 Portersfield Rd Orlando, 5
    • 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1961
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Les Hippolyte
1.321.246.1161
Zenith Homes Center Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887047
Last Updated: 08/23/2020
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