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3609 Tam Dr Orlando, FL 32808

3 Beds 2 Baths 1,386 sqft Built 1975

$205,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1975
  • Price/Sqft : $147.91
  • 2 Days on Market
  • MLS # : O5903228
  • Updated Date : 11/03/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,386 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Orlando one-story home offers a patio and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Londonderry Hills

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $67k253k

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

Neighborhood: Londonderry Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8161712

* 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
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$756
Property Tax -$233
Property Insurance -$119
Property Management Fees -$125
CASH FLOW
$157

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.

$205,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 9.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$24,113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,195

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,3504$1,3905$1,400
$1,400
RENT COMPS ANALYSIS
  • 3609 Tam Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.00
    •  
  • 5309 Grandview Dr Orlando, FL 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
    •  
  • 4724 Nantucket Ln Orlando, FL 2
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1975
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
  • 5005 Danny Boy Cir Orlando, FL 3
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1959
    LEASED 06/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 3722 Kitty Hawk Ave Orlando, FL 5
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1973
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
PROPERTY LISTING DETAILS
Alli Johnston
1.407.634.1744
Opendoor Brokerage Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5903228
Last Updated: 11/03/2020
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