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4517 Three Lakes Cir Orlando, FL 32808

3 Beds 2 Baths 1,316 sqft Built 1977

$185,900

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1977
  • Price/Sqft : $141.26
  • 17 Days on Market
  • MLS # : O5900105
  • Updated Date : 10/30/2020 at 16:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,316 sqft
  • Baths : 1 full , 1 half
Listing Agent

Harrison Real Property Group Llc

Listing Agent's Description

Do not let this opportunity pass you by. Featured is a 3 bedroom 1 and half bath home with 1316 heated and cooled space. The garage has been converted into an additional family room or even a large office if desired. This beauty has been brightened up with fresh paint on the interior and exterior of the home. The baths have been updated with new shower tile, vanities and countertops. There is Stainless Steel appliances in the kitchen. And if you like the idea of plenty of storage space and closets this home has that as well. Come take a walk through and see for yourself. Call for your Private showing today.

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: Signal Hill

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $51k253k

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

Neighborhood: Signal Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8431712

* 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
 

$167,310$204,490$185,900

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$686
Property Tax -$231
Property Insurance -$115
HOA -$9
Property Management Fees -$101
CASH FLOW
-$21

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.

$185,900

PROJECTED PRICE

$1,120

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 10.3%
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-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,014

INVESTMENT

$55,014

Down Payment
$46,475
Rehab Estimate
$5,750
Closing Costs
$2,789

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,475
Loan Amount $139,425
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$5,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,066

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$9003$1,1204$1,2505$1,295
$1,295
RENT COMPS ANALYSIS
  • 4517 Three Lakes Cir Orlando, FL 3
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $0.85
    •  
  • 4726 Robbins Ave Orlando, FL 1
    • 3 beds 2 baths ∙ 1,184 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,184 Sqft ∙ Built 1994
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.76
    •  
  • 4822 Nantucket Ln Orlando, FL 2
    • 3 beds 2 baths ∙ 1,195 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,195 Sqft ∙ Built 1975
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.75
    •  
  • 5309 Grandview Dr Orlando, FL 4
    • 4 beds 2 baths ∙ 1,479 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,479 Sqft ∙ Built 1959
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
  • 4724 Nantucket Ln Orlando, FL 5
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1975
    property image
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
PROPERTY LISTING DETAILS
Amanda Harrison
1.407.741.3547
Harrison Real Property Group Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5900105
Last Updated: 10/30/2020
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