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5027 Lanette St Orlando, FL 32811

3 Beds 1 Baths 956 sqft Built 1970

$125,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $130.75
  • 6 Days on Market
  • MLS # : O5914717
  • Updated Date : 01/08/2021 at 16:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 956 sqft
  • Baths : 1 full
Listing Agent

Homevest Realty

Listing Agent's Description

Great opportunity to own a 3 Bedroom in Carver Shores. Only a few minutes away from Valencia College & very close to Universal Studios. Needs interior Paint, Flooring, and Appliances. Fixer-upper surrounded by other well taken care of properties. Opportunity to increase value for any investor. Please submit your Highest and Best cash offer by Jan 15th.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Carver Shores

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $67k253k

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

Neighborhood: Carver Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7831712

* 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
 

$112,500$137,500$125,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$434
Property Tax -$158
Property Insurance -$93
Property Management Fees -$129
CASH FLOW
$366

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.

$125,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.94%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.8%
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$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$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$38,875

INVESTMENT

$38,875

Down Payment
$31,250
Rehab Estimate
$5,750
Closing Costs
$1,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$434

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $31,250
Loan Amount $93,750
See What Happens When You Reinvest Cash Flow

16.42

YEARS SAVED

$34,200

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,040

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,1003$1,1804$1,2505$1,325
$1,325
RENT COMPS ANALYSIS
  • 5027 Lanette St Orlando, FL 3
    • 3 beds 1 baths ∙ 956 Sqft ∙ Built 1970 3 beds 1 baths ∙ 956 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $1.23
    •  
  • 5310 Lily St Orlando, FL 1
    • 3 beds 1 baths ∙ 836 Sqft ∙ Built 1972 3 beds 1 baths ∙ 836 Sqft ∙ Built 1972
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $1.14
    •  
  • 5317 Rosegay Ct Orlando, FL 2
    • 3 beds 2 baths ∙ 1,116 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,116 Sqft ∙ Built 1972
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.99
    •  
  • 4600 Malibu St Orlando, FL 4
    • 3 beds 1 baths ∙ 1,056 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,056 Sqft ∙ Built 1967
    property image
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.18
    •  
  • 5275 Lanette St Orlando, FL 5
    • 4 beds 2 baths ∙ 1,273 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,273 Sqft ∙ Built 1971
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.04
    •  
PROPERTY LISTING DETAILS
Corey Van Dyke
1.321.436.7189
Homevest Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5914717
Last Updated: 01/08/2021
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