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3600 Starks St Orlando, FL 32805

3 Beds 2 Baths 1,236 sqft Built 1960

$255,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $206.31
  • 13 Days on Market
  • MLS # : O5955886
  • Updated Date : 07/13/2021 at 14:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,236 sqft
  • Baths : 2 full
Listing Agent

Lokation

Listing Agent's Description

Corner lot single family ranch style home. This 3 bedroom 2 bath home is the perfect choice for first time buyers or the savvy investor looking for a home located within city limits, in an established community with no HOA fees. This house has a new roof that was done in 2020. The spacious fenced back yard has plenty of room for any outdoor project. New tiles throughout home. Newly renovated Kitchen and Bathrooms.Brand new AC unit 2021. Few minutes from I-4 and Bus Stop. Measurements are approximation please do your due diligence in verifying the measurements.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Johnson Village

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $43k253k

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

Neighborhood: Johnson Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7391712

* 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
Washington Shores Elementary School Primary Regular 656 46 3
Carver Middle School Middle Magnet 719 44 1
Jones High School High Magnet 1,041 55 3

Washington Shores Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 46
3
GreatSchools Rating

Carver Middle School

  • Education Level: Middle
  • # of students: 719
  • # of teachers: 44
1
GreatSchools Rating

Jones High School

  • Education Level: High
  • # of students: 1,041
  • # of teachers: 55
3
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$886
Property Tax -$321
Property Insurance -$110
Property Management Fees -$129
CASH FLOW
-$216

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.

$255,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 8.2%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,230

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1853$1,2304$1,3005$1,500
$1,500
RENT COMPS ANALYSIS
  • 3600 Starks St Orlando, FL 3
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.00
    •  
  • 4270 Solomon Dr Orlando, FL 1
    • 3 beds 1 baths ∙ 1,109 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,109 Sqft ∙ Built 1969
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.04
    •  
  • 1822 Horne Ave Orlando, FL 2
    • 3 beds 1 baths ∙ 1,249 Sqft ∙ Built 1966 3 beds 1 baths ∙ 1,249 Sqft ∙ Built 1966
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,185
    • $0.95
    •  
  • 4406 Lenox Blvd Orlando, FL 4
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1964
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.02
    •  
  • 1662 Cresthaven Orlando, FL 5
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1967
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Iram Hashmi
1.703.626.5989
Lokation
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5955886
Last Updated: 07/13/2021
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