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3815 Ridgemont Rd Orlando, FL 32808

3 Beds 2 Baths 1,682 sqft Built 1960

$215,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $127.82
  • 8 Days on Market
  • MLS # : O5919055
  • Updated Date : 01/25/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,682 sqft
  • Baths : 1 full , 1 half
Listing Agent

Commonwealth Realty Corp

Listing Agent's Description

POOL home! Great for family home. Newer roof. Need some TLC. Great opportunity to upgrade.

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: Pine Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $49k253k

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

Neighborhood: Pine Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8151712

* 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
Ridgewood Park Elementary School Primary Regular 762 47 3
Meadowbrook Middle School Middle Regular 932 53 2
Evans High School High Magnet 2,355 117 3

Ridgewood Park Elementary School

  • Education Level: Primary
  • # of students: 762
  • # of teachers: 47
3
GreatSchools Rating

Meadowbrook Middle School

  • Education Level: Middle
  • # of students: 932
  • # of teachers: 53
2
GreatSchools Rating

Evans High School

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

$193,500$236,500$215,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$747
Property Tax -$245
Property Insurance -$137
Property Management Fees -$129
CASH FLOW
$183

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.

$215,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$26,697

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,535

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4403$1,5954$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 3815 Ridgemont Rd Orlando, FL 2
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.86
    •  
  • 2807 Wyndham Ln Orlando, FL 1
    • 4 beds 2 baths ∙ 1,541 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,541 Sqft ∙ Built 1965
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 5608 Lejeune Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1958
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 5501 Perrine Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1958
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 3414 Portersfield Rd Orlando, FL 5
    • 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1961
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Anita Boyd
1.407.468.9827
Commonwealth Realty Corp
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5919055
Last Updated: 01/25/2021
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