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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $214.09
- 4 Days on Market
- MLS # : O5910814
- Updated Date : 12/12/2020 at 14:16
CONSTRUCTION
- Beds : 3
- Floor Size : 1,448 sqft
- Baths : 2 full , 1 half
Listing Agent
Charles Rutenberg Realty Orlando
Listing Agent's Description
PROFESSIONAL PHOTOS COMING SOON!!! CONWAY HOME! $9,000 BELOW next door neighbor who just sold! BRAND NEW ROOF 2019 and home has been replumbed. 2018 installed gorgeous NUCORE wood plank vinyl flooring through entire first floor. Unbelievable Conway price of $310,000. Well appointed 3 bedroom home with 2 1/2 baths. You will feel right at home as soon as you walk in. Spacious cathedral ceilings. Pristine white estate shutters on living level. EXTRA LARGE dream kitchen pantry for storage! Stainless steel appliances. Fully fenced expansive backyard for enjoyment & privacy with new sod fill in before closing. Community pool and tennis courts for a country club lifestyle all right here! No more costly HOA fees. SO affordable at only $55/month. Wedgewood Groves is meticulously maintained and convenient to EVERYTHING in Orlando. Minutes from all the shopping you need. Just 7 miles to Orlando International Airport and all the new Lee Vista shopping and restaurants. All while being in the highly coveted Boone High School district.
SEE MORE
- 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: Wedgewood Groves
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Wedgewood Groves
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,670 |
| EXPENSES | Loan Payment | -$1,144 |
| Property Tax | -$385 | |
| Property Insurance | -$123 | |
| HOA | -$55 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$165
|
||
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.
$310,000
PROJECTED PRICE
$1,670
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.01% |
| Appreciation Year (1-5) | 9.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.82% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$87,900
LOAN DETAILS
$1,144
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $77,500 |
| Loan Amount | $232,500 |
2.42
YEARS SAVED
$6,497
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,670
LIST RENT -
$1.15
LIST RENT PER SQFT
-
$1,680
COMP ESTIMATED VALUE -
$1.16
COMP AVG. RENT PER SQFT
Comps Range
-
3801 Brandy St Orlando, FL 2
- 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 1990
![property image]()
- Rent
- Rent Per SQFT
- $1,670
- $1.15
-
1621 Jessamine Ave Orlando, FL 1
- 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2006
![property image]()
LEASED 01/09/20- Rent
- Rent Per SQFT
- $1,500
- $1.20
-
1594 Jessamine Ave Orlando, FL 3
- 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1989
![property image]()
LEASED 03/14/20- Rent
- Rent Per SQFT
- $1,695
- $1.19
-
3843 Brandy St Orlando, FL 4
- 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1990
![property image]()
LEASED 09/04/20- Rent
- Rent Per SQFT
- $1,700
- $1.15
-
1854 Osman Ave Orlando, FL 5
- 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1996
![property image]()
LEASED 11/11/20- Rent
- Rent Per SQFT
- $1,800
- $1.10
PROPERTY LISTING DETAILS
1.407.848.4455
Charles Rutenberg Realty Orlando
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5910814
Last Updated: 12/12/2020
