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4610 Foreland Pl Orlando, FL 32812

3 Beds 2 Baths 2,134 sqft Built 1961

$259,897

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $121.79
  • 3 Days on Market
  • MLS # : A4484323
  • Updated Date : 11/21/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,134 sqft
  • Baths : 2 full
Listing Agent

Flatfee.com

Listing Agent's Description

Amazing property at below market value, come and put some love to it. Don't miss this opportunity

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Neighborhood: Dover Shores East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $82k258k

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

Neighborhood: Dover Shores East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9231712

* 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
Boone High School High Magnet 2,763 141 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

Boone High School

  • Education Level: High
  • # of students: 2,763
  • # of teachers: 141
7
GreatSchools Rating
 

$233,907$285,887$259,897

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 -$959
Property Tax -$323
Property Insurance -$164
Property Management Fees -$158
CASH FLOW
$147

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.

$259,897

PROJECTED PRICE

$1,750

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,623

INVESTMENT

$74,623

Down Payment
$64,974
Rehab Estimate
$5,750
Closing Costs
$3,898

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,974
Loan Amount $194,923
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$25,299

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
  • $0.82

    LIST RENT PER SQFT
  • $1,825

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,7504$1,8955$1,959
$1,959
RENT COMPS ANALYSIS
  • 4610 Foreland Pl Orlando, FL 3
    • 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 1961 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 620 Braidwood Ln Orlando, FL 1
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1957 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1957
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.76
    •  
  • 1217 Marscastle Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 2,143 Sqft ∙ Built 1960 3 beds 2 baths ∙ 2,143 Sqft ∙ Built 1960
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 1718 Larkin Ave Orlando, FL 4
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1962
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 5067 Fayann St Orlando, FL 5
    • 4 beds 2 baths ∙ 1,942 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,942 Sqft ∙ Built 1974
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,959
    • $1.01
    •  
PROPERTY LISTING DETAILS
Cliff Glansen
Flatfee.com
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484323
Last Updated: 11/21/2020
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