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4650 W Gore Ave Orlando, FL 32811

3 Beds 2 Baths 1,295 sqft Built 2008

$224,900

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $173.67
  • 5 Days on Market
  • MLS # : O5908398
  • Updated Date : 12/03/2020 at 01:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,295 sqft
  • Baths : 2 full
Listing Agent

Preferred Real Estate Brokers

Listing Agent's Description

Hidden Gem Move-In Ready Home!! This Stunning 3 Bedroom 2 Full Baths, 1295 sq. ft. home is ready for the perfect Family. From the minute you walk in the door you are greeted with an open floor plan and large eat-in kitchen great for entertaining! The Home Features Hardwood Floors, New Interior Paint, Stainless Steel Appliances, Custom Built-Ins throughout the house, 6 camera Surveillance System & Indoor Laundry Room. The Master Bedroom is oversized with a Master Bath with Dual Sinks, Walk In Shower, Separate tub and Walk in Closet as well as 2 other nice sized bedrooms. Enjoy the covered front and back porch while you enjoy the outdoors. The house is fenced with a spacious backyard. This well kept Gem is the last home on a quiet dead end street. The Home is Move-In Ready and has been Designed for Maximum Comfort and Great Enjoyment! Conveniently Located close to Entertainment, Restaurants, Shops, 408 Expressway, Kirkman Road & Downtown Orlando. Make Your Appointment Today! Stainless Steel Appliances currently in the house and Freezer in Garage do not Convey. Owner will install Stainless Steel Appliances in the home prior to closing.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Orlando metro employment growth is at 3.5% and predicted to grow at 2.5% in 2019 (USMayors.org, 2018)

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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$830
Property Tax -$252
Property Insurance -$113
Property Management Fees -$129
CASH FLOW
-$164

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.

$224,900

PROJECTED PRICE

$1,160

PROJECTED RENT

0.52%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$3,239

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,191

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,1603$1,2884$1,3505$1,475
$1,475
RENT COMPS ANALYSIS
  • 4650 W Gore Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.90
    •  
  • 780 Palmera St Orlando, FL 1
    • 4 beds 2 baths ∙ 1,228 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,228 Sqft ∙ Built 2003
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.77
    •  
  • 332 Dover St Orlando, FL 3
    • 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 2005
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,288
    • $1.01
    •  
  • 4200 Cepeda St Orlando, FL 4
    • 4 beds 2 baths ∙ 1,597 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,597 Sqft ∙ Built 1988
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 5455 Cedar Ln Orlando, FL 5
    • 4 beds 2 baths ∙ 1,408 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,408 Sqft ∙ Built 1998
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.05
    •  
PROPERTY LISTING DETAILS
Bonita Smith
1.407.509.9803
Preferred Real Estate Brokers
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5908398
Last Updated: 12/03/2020
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