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3549 Spring Land Dr Orlando, FL 32818

3 Beds 2 Baths 1,246 sqft Built 1988

$170,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $136.44
  • 3 Days on Market
  • MLS # : O5919726
  • Updated Date : 01/30/2021 at 15:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,246 sqft
  • Baths : 2 full
Listing Agent

Re/max 200 Realty

Listing Agent's Description

LOCATION! LOCATION! Excellent INVESTMENT property or for First Time Home Buyers. LOW HOA. Cozy 3 Bed/2 Bath home is located in West Orlando.Easy and convenient access to downtown, close to major roads 408, Turnpike and the 429. Plenty of shopping all around. This home features semi-open floor plan. Plenty of rooms for entertaining and pets. Ceramic TILE throughout. Roof was replaced 7 years ago. New Septic tank Drain Field 5 years ago. Garage was enclosed to 3rd bedroom. Enclosed patio and Fenced backyard and enough space to create your own garden or install a gazebo. Hurry won't last. Call today to schedule your private showing!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Orlando metro employment growth is at 3.5% and predicted to grow at 2.5% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Hiawassee Landings

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $47k253k

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

Neighborhood: Hiawassee Landings

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8611712

* 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
Pinewood Elementary School Primary Regular 609 44 3
Robinswood Middle School Middle Magnet 1,232 71 2
Evans High School High Magnet 2,355 117 3

Pinewood Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 44
3
GreatSchools Rating

Robinswood Middle School

  • Education Level: Middle
  • # of students: 1,232
  • # of teachers: 71
2
GreatSchools Rating

Evans High School

  • Education Level: High
  • # of students: 2,355
  • # of teachers: 117
3
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$590
Property Tax -$194
Property Insurance -$110
HOA -$14
Property Management Fees -$129
CASH FLOW
$23

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.

$170,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$9,895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $825

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$750
1$7502$9953$1,0604$1,1005$1,150
$1,150
RENT COMPS ANALYSIS
  • 3549 Spring Land Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $0.85
    •  
  • 3001 Redlive Oaks Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 2000
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $750
    • $0.60
    •  
  • 7609 Covedale Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1986
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.63
    •  
  • 7618 Colebrook Dr Orlando, FL 4
    • 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1988
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.70
    •  
  • 7519 Covedale Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1986
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.72
    •  
PROPERTY LISTING DETAILS
Yusmila Adames
1.407.625.9008
Re/max 200 Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5919726
Last Updated: 01/30/2021
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