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3509 Kramer Orlando, FL 32806

4 Beds 3 Baths 1,602 sqft Built 1965

$364,999

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $227.84
  • 6 Days on Market
  • MLS # : O5906070
  • Updated Date : 11/20/2020 at 17:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,602 sqft
  • Baths : 3 full
Listing Agent

Empire Network Realty

Listing Agent's Description

**AVAILABLE NOW TO SEE** This Stunning 4 Bedroom 3 Bathroom completely renovated pool home centrally located near the Hour Glass District. This fully renovated gem has been totally transformed to offer all the upgrades of a NEW home. No detail has been overlooked, with brand new roof, new porcelain tile flooring, fresh designer paint inside and out! This 1602 SF home offers an exceptional spacious open floor plan! Completely renovated kitchen with quality shaker cabinets, granite counter tops, and stainless-steel appliances. All three bathrooms have been completely renovated with beautiful tile work, new vanities & granite counter-tops. It doesn't just stop at the home, the large corner lot includes a large 1 -car garage carport area, spacious shed and a back yard perfect for all your outdoor activities with a newly resurfaced large private pool. Freshly textured and painted back patio, and brand-new privacy fence. LOCATION LOCATION LOCATION! Close to downtown, shopping, restaurants, FL Hospital and easy access to major highways anywhere in Orlando. This home won’t disappoint.

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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: Dover Heights

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $105k291k

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

Neighborhood: Dover Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10101938

* 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
 

$328,499$401,499$364,999

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,347
Property Tax -$415
Property Insurance -$132
Property Management Fees -$172
CASH FLOW
-$155

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.

$364,999

PROJECTED PRICE

$1,910

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,749
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,858

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8503$1,9104$1,9605$2,195
$2,195
RENT COMPS ANALYSIS
  • 3509 Kramer Orlando, FL 3
    • 4 beds 3 baths ∙ 1,602 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,602 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.19
    •  
  • 3023 Hidalgo Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1959
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 2700 Raeford Ct Orlando, FL 2
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1962
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.17
    •  
  • 3322 Lake Anderson Ave Orlando, FL 4
    • 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1972
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.13
    •  
  • 3125 Lake Mar Ln Orlando, FL 5
    • 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 1973
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.26
    •  
PROPERTY LISTING DETAILS
Jd Denis
1.407.818.9530
Empire Network Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906070
Last Updated: 11/20/2020
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