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475 Lear St Orlando, FL 32809

3 Beds 2 Baths 988 sqft Built 1971

$223,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $225.71
  • 3 Days on Market
  • MLS # : O5920289
  • Updated Date : 01/30/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 988 sqft
  • Baths : 1 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Don't miss the opportunity to see this ranch style 3 bedroom 1.5 bath house in East Orlando sitting on an oversized lot with plenty of space for expanding AND building a custom pool for those hot summer days!! This house features an open layout and a spacious living room with ceramic tile throughout the entire house and a 1 year old AC unit. Centrally located, just minutes a way from the Florida Mall, Restaurant Row and major highways and interstates makes this house an ideal find for any homebuyer or as investment opportunity! Don't wait come see all the amazing potential this home has to offer!

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: Pine Castle

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Pine Castle

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7561712

* 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
Lancaster Elementary School Primary Regular 886 56 5
Walker Middle School Middle Regular 1,013 57 2
Oak Ridge High School High Magnet 2,633 127 3

Lancaster Elementary School

  • Education Level: Primary
  • # of students: 886
  • # of teachers: 56
5
GreatSchools Rating

Walker Middle School

  • Education Level: Middle
  • # of students: 1,013
  • # of teachers: 57
2
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 2,633
  • # of teachers: 127
3
GreatSchools Rating
 

$200,700$245,300$223,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$775
Property Tax -$254
Property Insurance -$95
Property Management Fees -$129
CASH FLOW
-$52

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.

$223,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.4%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,845

INVESTMENT

$64,845

Down Payment
$55,750
Rehab Estimate
$5,750
Closing Costs
$3,345

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,750
Loan Amount $167,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$7,713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $883

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$725
1$7252$1,1003$1,2004$1,395
$1,395
RENT COMPS ANALYSIS
  • 475 Lear St Orlando, FL 3
    • 3 beds 2 baths ∙ 988 Sqft ∙ Built 1971 3 beds 2 baths ∙ 988 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.21
    •  
  • 742 Jordan Ave Orlando, FL 1
    • 3 beds 1 baths ∙ 1,058 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,058 Sqft ∙ Built 1967
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $725
    • $0.69
    •  
  • 1701 Perkins Rd Belle Isle, FL 2
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.93
    •  
  • 5626 Sandalwood Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1955
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
PROPERTY LISTING DETAILS
Anelis Dunston
1.407.729.8158
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5920289
Last Updated: 01/30/2021
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