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5224 Desmond Ln Orlando, FL 32821

3 Beds 2 Baths 1,469 sqft Built 1987

$289,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $197.35
  • 3 Days on Market
  • MLS # : O5905653
  • Updated Date : 11/14/2020 at 07:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,469 sqft
  • Baths : 2 full
Listing Agent

Re/max 200 Realty

Listing Agent's Description

This 3 bedroom 2 bath home is located in highly sought after Williamsburg, Deer Creek Village. This one story 3 bedroom 2 bath pool home has beautiful water views. The living-dining areas have vaulted ceilings. The home features a split bedroom plan, family room with brick wood burning fireplace, a huge 28 x 10 enclosed porch with windows overlooking the back yard. There is a skylight in the kitchen and also in the family room. The roof is 1 year old. Deer Creek offers a community pool, playground, and tennis courts. The home needs a little TLC.

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: Deer Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k338k

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

Neighborhood: Deer Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10201844

* 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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,070
Property Tax -$333
Property Insurance -$124
HOA -$30
Property Management Fees -$151
CASH FLOW
-$28

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.

$289,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,340

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,458

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5953$1,6504$1,6805$1,795
$1,795
RENT COMPS ANALYSIS
  • 5224 Desmond Ln Orlando, FL 4
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.14
    •  
  • 11940 Desmar Ct Orlando, FL 1
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1987
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 5505 Deer Creek Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1988
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 11630 Darlington Dr Orlando, FL 3
    • 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1989
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 5508 Deepdale Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1990
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
PROPERTY LISTING DETAILS
Evelyn Pilchick
1.321.217.8667
Re/max 200 Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5905653
Last Updated: 11/14/2020
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