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408 Fanfair Ave Orlando, FL 32811

4 Beds 2 Baths 1,350 sqft Built 1967

$177,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $131.11
  • 3 Days on Market
  • MLS # : O5909906
  • Updated Date : 12/05/2020 at 13:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,350 sqft
  • Baths : 2 full
Listing Agent

Your Home Sold Guaranteed Realty

Listing Agent's Description

Traditional sale. Property can close quickly. Great 4/2 in neighborhood with tree lined streets. Block home with split plan. Fenced in rear yard. Bedrooms and wet areas have ceramic tile. split bedroom plan. Both bathrooms updated along with the kitchen. Newer roof, fresh interior paint. Appliances included. Move in ready. All measurements and sizes are approximate and not guaranteed, any information contained herein critical to buyer’s decision to purchase must be verified by buyers.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Malibu Groves

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $49k253k

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

Neighborhood: Malibu Groves

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7181712

* 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
 

$159,300$194,700$177,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$653
Property Tax -$223
Property Insurance -$117
Property Management Fees -$129
CASH FLOW
$128

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.

$177,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 7.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,655

INVESTMENT

$52,655

Down Payment
$44,250
Rehab Estimate
$5,750
Closing Costs
$2,655

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$653

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,250
Loan Amount $132,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$22,783

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,340

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,067
1$1,0672$1,2503$1,2504$1,3005$1,450
$1,450
RENT COMPS ANALYSIS
  • 408 Fanfair Ave Orlando, FL 3
    • 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 4535 Barley St Orlando, FL 1
    • 3 beds 1 baths ∙ 1,193 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,193 Sqft ∙ Built 1968
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,067
    • $0.89
    •  
  • 4650 Piedmont Ct Orlando, FL 2
    • 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1973
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.02
    •  
  • 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
    •  
  • 4559 W Gore Ave Orlando, FL 5
    • 4 beds 3 baths ∙ 1,394 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,394 Sqft ∙ Built 1966
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.04
    •  
PROPERTY LISTING DETAILS
Harry Bing
1.407.654.2626
Your Home Sold Guaranteed Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5909906
Last Updated: 12/05/2020
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