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4416 Raleigh St Orlando, FL 32811

4 Beds 3 Baths 1,877 sqft Built 1963

$230,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $122.54
  • 66 Days on Market
  • MLS # : O5906006
  • Updated Date : 01/15/2021 at 15:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,877 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Investor alert! Come check out this great investment opportunity with 2 income producing properties on one parcel. Main house is an updated 3 bedroom, 2 bath with good paying tenant already in place and the second structure is a single family detached 1 bedroom, 1 bath house updated and move-in ready. Currently a potential annual gross income of about $27000/yr with room for value-add. Act quick and call now to make this cash cow yours.

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: Washington Park

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $56k253k

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

Neighborhood: Washington Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7471712

* 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$799
Property Tax -$257
Property Insurance -$148
Property Management Fees -$129
CASH FLOW
$417

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.

$230,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.76%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

13.42

YEARS SAVED

$49,567

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5003$1,5954$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 4416 Raleigh St Orlando, FL 5
    • 4 beds 3 baths ∙ 1,877 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,877 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 1662 Willie Mays Pkwy Orlando, FL 1
    • 4 beds 2 baths ∙ 1,581 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,581 Sqft ∙ Built 1966
    LEASED 10/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.88
    •  
  • 1662 Cresthaven Orlando, FL 2
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1967
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 2131 Messina Ave Orlando, FL 3
    • 4 beds 3 baths ∙ 1,697 Sqft ∙ Built 1970 4 beds 3 baths ∙ 1,697 Sqft ∙ Built 1970
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 3350 Rogers Dr Orlando, FL 4
    • 5 beds 2 baths ∙ 1,845 Sqft ∙ Built 1950 5 beds 2 baths ∙ 1,845 Sqft ∙ Built 1950
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
PROPERTY LISTING DETAILS
Veronica Figueroa
1.407.329.9500
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906006
Last Updated: 01/15/2021
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