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3526 Gatlin Place Cir Orlando, FL 32812

4 Beds 2 Baths 2,377 sqft Built 1991

$350,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $147.24
  • 3 Days on Market
  • MLS # : O5904727
  • Updated Date : 11/14/2020 at 00:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,377 sqft
  • Baths : 2 full
Listing Agent

Florida Home Team Realty

Listing Agent's Description

This home is very spacious and in a great location, close to many schools and Barber Park. The roof was replaced in 2004, A/C in 1991, new water heater in 2020 and the exterior was just painted in October 2020. Upon entering, you will notice how bright the formal living room is with two sky lights. Every room has a ceiling fan, custom window treatments and all bedrooms have large walk in closets. The generous Master bedroom features vaulted ceilings, a skylight and large master bathroom with a soaking tub. The kitchen includes all of the appliances with a new custom hood over the cooktop. Just off the kitchen is a nook for casual meals and a nice dining room for more formal dining. Then you will love the oversized back porch and separate screened room with a hot tub that conveys. You will have plenty of room in the three car garage, maybe even set up a workshop! The back yard is like living in the tropics with all of the fruit trees! Mango, papaya, longan, lychee, banana tamarind and moringa trees all bearing fruit! You may never buy fruit at the store again after you taste what you have grown in your own back yard! Call for your showing today, not sure how long this will be on the market! The property has numerous tropical fruit trees.

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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: Gatlin Place

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $105k516k

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

Neighborhood: Gatlin Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10282171

* 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,291
Property Tax -$400
Property Insurance -$178
HOA -$29
Property Management Fees -$193
CASH FLOW
$48

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.

$350,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.4%
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-$4.0k-$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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$20,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,240

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,140
1$2,1402$2,1503$2,2004$2,3355$2,450
$2,450
RENT COMPS ANALYSIS
  • 3526 Gatlin Place Cir Orlando, FL 1
    • 4 beds 2 baths ∙ 2,377 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,377 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.90
    •  
  • 4144 Evander Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 1998
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.98
    •  
  • 3420 Herringridge Dr Orlando, FL 3
    • 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2005
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 4843 Lorraine Way Orlando, FL 4
    • 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 1996
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,335
    • $0.86
    •  
  • 3845 Gatlin Place Cir Orlando, FL 5
    • 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 1991
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jeanette Ekberg
1.407.948.2933
Florida Home Team Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904727
Last Updated: 11/14/2020
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