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4423 Cassius St Orlando, FL 32811

3 Beds 1 Baths 1,064 sqft Built 1966

INVESTimate

$188,500

List Price

$1,220

$1,098 - $1,342

Rent Est.

$199,678  ( +5.93%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1966
  • Price/Sqft : $177.16
  • 3 Days on Market
  • MLS # : O5887262
  • Updated Date : 08/25/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,064 sqft
  • Baths : 1 full
Listing Agent

Keller Williams At The Parks

Listing Agent's Description

You will not believe your eyes once inside this COMPLETELY UPGRADED HOME on a quiet street less than 10 minutes from I-4! There are granite counter tops and stainless steel appliances in the kitchen, ceramic tile throughout the entire home, and super modern features. There is a sizable backyard and plenty of parking under the carport along with a huge front yard. Bathroom has been renovated as well and it is pre-wired for alarm. This home is extremely close to public transportation and is about 5 minutes away from Willie Mays Park. You definitely want to see this home!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$169,650$207,350$188,500

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$695
Property Tax -$238
Property Insurance -$100
Property Management Fees -$110
CASH FLOW
$78

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.

$188,500

PROJECTED PRICE

$1,220

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 5.93%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,703

INVESTMENT

$55,703

Down Payment
$47,125
Rehab Estimate
$5,750
Closing Costs
$2,828

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$695

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,125
Loan Amount $141,375
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$14,566

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,221

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2003$1,2204$1,2505$1,300
$1,300
RENT COMPS ANALYSIS
  • 4423 Cassius St Orlando, 3
    • 3 beds 1 baths ∙ 1,064 Sqft ∙ Built 1966 3 beds 1 baths ∙ 1,064 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $1.15
    •  
  • 2183 Patterson Ave #2 Orlando, 1
    • 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1965
    property image
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.05
    •  
  • 4172 Kirkland Blvd Orlando, 2
    • 3 beds 1 baths ∙ 1,035 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,035 Sqft ∙ Built 1963
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.16
    •  
  • 4730 King Cole Blvd Orlando, 4
    • 3 beds 2 baths ∙ 1,038 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,038 Sqft ∙ Built 1970
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.20
    •  
  • 1652 Gammon Ln #5 Orlando, 5
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1968
    property image
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.18
    •  
PROPERTY LISTING DETAILS
Selena James
1.407.476.8390
Keller Williams At The Parks
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887262
Last Updated: 08/25/2020
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