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5178 Clarion Hammock Dr Orlando, FL 32808

3 Beds 2 Baths 1,344 sqft Built 1992

INVESTimate

$209,900

List Price

$1,250

$1,125 - $1,375

Rent Est.

$232,674  ( +10.85%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $156.18
  • 6 Days on Market
  • MLS # : T3260895
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage

Listing Agent's Description

VACANT! New roof pending! Incredible home with new plumbing, fresh interior paint, new flooring throughout, and so much more! Spacious living and dining combo and vaulted ceilings. The kitchen offers new stainless steel appliances, new countertops, and a breakfast bar. Covered front porch great for enjoying a morning cup of coffee. Come tour today!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rosemont North

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Rosemont North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8951712

* 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
 

$188,910$230,890$209,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$774
Property Tax -$261
Property Insurance -$116
HOA -$26
Property Management Fees -$113
CASH FLOW
-$40

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.

$209,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 10.85%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$774

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$5,658

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,048

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$9003$1,0004$1,2505$1,295
$1,295
RENT COMPS ANALYSIS
  • 5178 Clarion Hammock Dr Orlando, 4
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 4726 Robbins Ave Orlando, 1
    • 3 beds 2 baths ∙ 1,184 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,184 Sqft ∙ Built 1994
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.76
    •  
  • 4822 Nantucket Ln Orlando, 2
    • 3 beds 2 baths ∙ 1,195 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,195 Sqft ∙ Built 1975
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.75
    •  
  • 4773 Lantern Ct Orlando, 3
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1998
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.73
    •  
  • 4724 Nantucket Ln Orlando, 5
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1975
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
PROPERTY LISTING DETAILS
Rob Jones
1.813.444.4744
Offerpad Brokerage
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260895
Last Updated: 08/22/2020
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