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425 Mandalay Rd Orlando, FL 32809

3 Beds 2 Baths 1,698 sqft Built 1974

$369,500

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $217.61
  • 4 Days on Market
  • MLS # : O5919932
  • Updated Date : 01/29/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,698 sqft
  • Baths : 2 full
Listing Agent

Homevest Realty

Listing Agent's Description

Charming Conway Home. Located on a quiet cul-de-sac this home has been fully updated with tile floors throughout and a desierable split floor plan. The kitchen is complete eith granite countertops and open to the dining room and florida room, perfect for entertaining. The Florida room is light and bright and the large flex space offers endless possibilites as a game room, play room, 2nd family room, etc. The oversized back yard offers tons of green space with lovely tropical landscaping. Just minutes from lake conway and a quick drive to ORMC, Downtown, and all major roadways. New Roof 2020. Schedule your appointment today as this home wont last long!

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: Edgewood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k331k

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

Neighborhood: Edgewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10292411

* 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
Pershing Elementary School Primary Unknown NA
Walker Middle School Middle Regular 1,013 57 2
Oak Ridge High School High Magnet 2,633 127 3

Pershing Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Walker Middle School

  • Education Level: Middle
  • # of students: 1,013
  • # of teachers: 57
2
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 2,633
  • # of teachers: 127
3
GreatSchools Rating
 

$332,550$406,450$369,500

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,283
Property Tax -$416
Property Insurance -$138
Property Management Fees -$129
CASH FLOW
-$296

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.

$369,500

PROJECTED PRICE

$1,670

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$103,668

INVESTMENT

$103,668

Down Payment
$92,375
Rehab Estimate
$5,750
Closing Costs
$5,543

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,283

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,375
Loan Amount $277,125
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,573

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
  • $0.98

    LIST RENT PER SQFT
  • $1,813

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7003$1,7004$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 425 Mandalay Rd Orlando, FL 1
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.98
    •  
  • 917 Sweetbriar Rd Orlando, FL 2
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1964
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
  • 816 Pershing Ave Orlando, FL 3
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1957
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 5205 Haverill Dr Edgewood, FL 4
    • 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 1959
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.02
    •  
  • 4425 S Fern Creek Ave Orlando, FL 5
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 1955
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.07
    •  
PROPERTY LISTING DETAILS
Brad Young
1.407.897.5400
Homevest Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5919932
Last Updated: 01/29/2021
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