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4230 Nimons St Orlando, FL 32811

3 Beds 1 Baths 1,247 sqft Built 1968

$150,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $120.29
  • 5 Days on Market
  • MLS # : O5905304
  • Updated Date : 11/12/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,247 sqft
  • Baths : 1 full
Listing Agent

Blair Realty Group Inc

Listing Agent's Description

EXCELLENT OPPORTUNIT!!! NEW ROOF JULY 2018. This 3 bedroom 1 bath single family home is great for a homeowner or investor. No HOA! Lovely home with a great floorplan and is in search of someone who can make it sparkle. Solid brick house with amazing potential, minimum cosmetic updates. Perfect for someone looking to make it there home or to add to their portfolio or make great ROI on a potential flip. PLEASE NOTE: Sold AS-IS. Seller will not make any repairs nor concessions. Asking Price Is Firm. Call your agent today and schedule a showing asap!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Neighborhood: Richmond Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $48k253k

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

Neighborhood: Richmond Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7421712

* 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
 

$135,000$165,000$150,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$553
Property Tax -$189
Property Insurance -$111
Property Management Fees -$106
CASH FLOW
$221

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.

$150,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 5.9%
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

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$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,500

INVESTMENT

$45,500

Down Payment
$37,500
Rehab Estimate
$5,750
Closing Costs
$2,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,500
Loan Amount $112,500
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$29,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,256

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1803$1,1854$1,3005$1,400
$1,400
RENT COMPS ANALYSIS
  • 4230 Nimons St Orlando, FL 2
    • 3 beds 1 baths ∙ 1,247 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,247 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.95
    •  
  • 2183 Patterson Ave #2 Orlando, FL 1
    • 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1965
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.05
    •  
  • 1822 Horne Ave Orlando, FL 3
    • 3 beds 1 baths ∙ 1,249 Sqft ∙ Built 1966 3 beds 1 baths ∙ 1,249 Sqft ∙ Built 1966
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,185
    • $0.95
    •  
  • 2413 Spingarn Ct Orlando, FL 4
    • 4 beds 2 baths ∙ 1,250 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,250 Sqft ∙ Built 1962
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.04
    •  
  • 2114 Patterson Ave Orlando, FL 5
    • 4 beds 2 baths ∙ 1,420 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,420 Sqft ∙ Built 1964
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
PROPERTY LISTING DETAILS
Cedric Donaldson
1.321.246.1153
Blair Realty Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5905304
Last Updated: 11/12/2020
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