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4802 Lake Sharp Dr Orlando, FL 32817

3 Beds 2 Baths 1,836 sqft Built 1991

$325,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $177.02
  • 3 Days on Market
  • MLS # : O5918678
  • Updated Date : 01/23/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,836 sqft
  • Baths : 2 full
Listing Agent

Atkins Realty Group

Listing Agent's Description

Don't miss your chance to own this spacious 3 bedroom 2 bath beautifully remodeled home located in desirable Watermill! This move-in ready home features recessed lighting, soaring vaulted ceilings, inside laundy room and an open kitchen/family room combo. As you walk through you will notice all the beautiful upgrades and attention to detail. Renovations include brand new kitchen, totally updated bathrooms and flooring throughout living space. Roof, plumbing and A/C have all been replaced or upgraded within the last year. The eat-in kitchen has brand new 42" cabinets, granite counter tops with breakfast bar and all stainless steel appliances. You will be thrilled with the oversized master bedroom and all the closet space it has to offer. The master bath includes dual sinks, garden tub and separate shower. Winter Park school district! Great centrally loacated home just minutes from Winter Park, Downtown Orlando and UCF. Expect to be impressed!

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: Watermill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k336k

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

Neighborhood: Watermill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8502089

* 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
Lakemont Elementary School Primary Regular 656 45 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Lakemont Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 45
8
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,129
Property Tax -$370
Property Insurance -$146
HOA -$8
Property Management Fees -$129
CASH FLOW
$8

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.

$325,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$19,709

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,841

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7504$1,7505$1,790
$1,790
RENT COMPS ANALYSIS
  • 4802 Lake Sharp Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.97
    •  
  • 9421 Holbrook Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1986
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
  • 5624 Pats Pt Winter Park, FL 2
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2003
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 9092 Vickroy Ter Oviedo, FL 3
    • 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 2007
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 4405 Bridgewater Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1983
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
PROPERTY LISTING DETAILS
Larry Atkins
1.407.406.1909
Atkins Realty Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5918678
Last Updated: 01/23/2021
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