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4365 Rixey St Orlando, FL 32803

3 Beds 2 Baths 1,217 sqft Built 1975

$299,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $245.69
  • 1 Days on Market
  • MLS # : O5915681
  • Updated Date : 01/10/2021 at 00:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,217 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Orlando

Listing Agent's Description

Welcome to this oversized corner lot home just a short walk to Baldwin Park's schools, restaurants, and shops. All 3 schools A-rated! You will love the open floor plan kitchen, dining room, and living room, and oversized garage.

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: Lake Barton Shores

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Lake Barton Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8951712

* 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
Baldwin Park Elementary School Primary Regular 1,182 80 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Baldwin Park Elementary School

  • Education Level: Primary
  • # of students: 1,182
  • # of teachers: 80
8
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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,039
Property Tax -$340
Property Insurance -$109
Property Management Fees -$129
CASH FLOW
-$126

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.

$299,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 13.4%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$6,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,4503$1,4904$1,5055$1,795
$1,795
RENT COMPS ANALYSIS
  • 4365 Rixey St Orlando, FL 3
    • 3 beds 2 baths ∙ 1,217 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,217 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.22
    •  
  • 1306 Bennett Rd Orlando, FL 1
    • 3 beds 1 baths ∙ 1,096 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,096 Sqft ∙ Built 1957
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.09
    •  
  • 4044 Virginia Dr Orlando, FL 2
    • 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1958
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.29
    •  
  • 1300 Bennett Rd Orlando, FL 4
    • 3 beds 1 baths ∙ 1,106 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,106 Sqft ∙ Built 1957
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,505
    • $1.36
    •  
  • 1232 Sasoon Ave Orlando, FL 5
    • 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1981
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.42
    •  
PROPERTY LISTING DETAILS
Shari Starner
1.301.523.2595
Charles Rutenberg Realty Orlando
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5915681
Last Updated: 01/10/2021
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