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3875 S Fern Creek Ave Orlando, FL 32806

3 Beds 3 Baths 1,904 sqft Built 2017

$445,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $233.72
  • 7 Days on Market
  • MLS # : O5908325
  • Updated Date : 12/03/2020 at 08:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams At The Parks

Listing Agent's Description

LOCATION, LOCATION, LOCATION! UPGRADED NEWER BUILT HOME in the SODO area! BONUS ROOM for office/den or use as a 4th bedroom. Boone school district. This amazing, open, efficient floor plan will surely blow you away. The super vaulted main living space is highlighted by the triple-slider and three massive windows above, allowing light to pour into the home. Huge island with bar seating, two-tone cabinets, and tons of storage are the kitchen's highlights. Downstairs master bedroom suite with large, elegant master bathroom. Two guest rooms upstairs with a guest bathroom. The amazing kitchen and living space is viewable from the second floor landing. Triple-slider glass door leads to the renovated fenced-in oasis backyard with Jasmine covered pergola structure. Upgraded modern features tie together the one-of-a-kind design of this home!

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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: Conway Estates West

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $89k257k

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

Neighborhood: Conway Estates West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9681712

* 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
Boone High School High Magnet 2,763 141 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

Boone High School

  • Education Level: High
  • # of students: 2,763
  • # of teachers: 141
7
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,642
Property Tax -$506
Property Insurance -$150
Property Management Fees -$129
CASH FLOW
-$247

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.

$445,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$10,189

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,177

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,1804$2,300
$2,300
RENT COMPS ANALYSIS
  • 3875 S Fern Creek Ave Orlando, FL 3
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.14
    •  
  • 1582 George St Orlando, FL 1
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2006
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.15
    •  
  • 1053 Wilks Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.17
    •  
  • 1719 Kaleywood Ct Orlando, FL 4
    • 3 beds 2 baths ∙ 2,064 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,064 Sqft ∙ Built 2001
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.11
    •  
PROPERTY LISTING DETAILS
Jt Mcarthur, Jr
1.864.872.0587
Keller Williams At The Parks
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5908325
Last Updated: 12/03/2020
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