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427 N Nowell St Orlando, FL 32835

3 Beds 2 Baths 1,000 sqft Built 1960

$170,000

List Price

$1,070

$963 - $1.2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $170.00
  • 4 Days on Market
  • MLS # : S5045945
  • Updated Date : 02/04/2021 at 02:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,000 sqft
  • Baths : 1 full , 1 half
Listing Agent

The Landrua Group Real Estate Inc

Listing Agent's Description

Are you looking for an affordable home in the Orlando area? This home is perfect for a family who wants a house with a good size lot excellent for a friends gathering in an amazing fenced backyard over 6 feet tall. This home has NO HOA!!!. This has great location that is less than 10 minutes away from the major malls and 20 minutes away from attractions and amusement parks. Great schools for all levels. Valencia College is only 10 minutes away. Only three year roof, AC and windows. This home will not last long, call to schedule a showing NOW!!!!!! MAKE OFFER NOW BEFORE IT'S TO LATE!!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Orlovista

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $54k253k

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

Neighborhood: Orlovista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8081712

* 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
Orlo Vista Elementary School Primary Regular 604 38 3
Chain Of Lakes Middle School Middle Regular 1,285 74 3
Olympia High School High Regular 2,990 134 7

Orlo Vista Elementary School

  • Education Level: Primary
  • # of students: 604
  • # of teachers: 38
3
GreatSchools Rating

Chain Of Lakes Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 74
3
GreatSchools Rating

Olympia High School

  • Education Level: High
  • # of students: 2,990
  • # of teachers: 134
7
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$963$1,177$1,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,070
EXPENSES Loan Payment -$590
Property Tax -$202
Property Insurance -$96
Property Management Fees -$129
CASH FLOW
$53

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.

$170,000

PROJECTED PRICE

$1,070

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.5%
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$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$12,552

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,070

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,105

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,070
1$1,0702$1,2503$1,2754$1,3505$1,500
$1,500
RENT COMPS ANALYSIS
  • 427 N Nowell St Orlando, FL 1
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,070
    • $1.07
    •  
  • 246 Ronnie Cir Orlando, FL 2
    • 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1959
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.07
    •  
  • 362 S Observatory Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1940
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.15
    •  
  • 5222 W Washington St Orlando, FL 4
    • 4 beds 3 baths ∙ 1,248 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,248 Sqft ∙ Built 1959
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.08
    •  
  • 110 N Observatory Dr Orlando, FL 5
    • 4 beds 2 baths ∙ 1,345 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,345 Sqft ∙ Built 1956
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.12
    •  
PROPERTY LISTING DETAILS
Charisse Marin Landrua
1.321.443.4720
The Landrua Group Real Estate Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5045945
Last Updated: 02/04/2021
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