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4700 Loring Pl Orlando, FL 32812

3 Beds 2 Baths 1,444 sqft Built 1962

$299,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $207.06
  • 6 Days on Market
  • MLS # : O5911725
  • Updated Date : 12/17/2020 at 20:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,444 sqft
  • Baths : 2 full
Listing Agent

Fannie Hillman & Associates

Listing Agent's Description

**MULTIPLE OFFERS - HIGHEST AND BEST BY NOON on 12/19/2020** Come preview this wonderful three-bedroom, two-bathroom home in Dover Shores East. Featuring a generous sized fenced in backyard with a large saltwater pool, an oversized two-car garage, and a huge inside utility room. This home needs some TLC but has everything you need and more. Highlights include spacious bedrooms, cherry wood floors, stainless steel appliances, and a freshly painted interior (2020). Upgrades include updated plumbing (2006), updated electrical panel (2020), newer Trane AC and hot water heater (2017). Conveniently located just minutes from SR-408, the Executive and International Airports and Downtown Orlando. Zoned for Boone High School. This house will not last long! Call today for a convenient showing.

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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,103
Property Tax -$372
Property Insurance -$122
Property Management Fees -$129
CASH FLOW
$44

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.

$299,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.59%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$23,013

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,531

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6994$1,7705$1,834
$1,834
RENT COMPS ANALYSIS
  • 4700 Loring Pl Orlando, FL 4
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.23
    •  
  • 5162 Lido St Orlando, FL 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1977
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 1202 Berwyn Rd Orlando, FL 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1957
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 4629 Arcie St Orlando, FL 3
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1959
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.04
    •  
  • 5173 Andrea Blvd Orlando, FL 5
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1976
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,834
    • $1.14
    •  
PROPERTY LISTING DETAILS
Sharon Helsby
1.407.620.3633
Fannie Hillman & Associates
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5911725
Last Updated: 12/17/2020
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