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5273 Cona Reef Ct Orlando, FL 32810

4 Beds 2 Baths 1,274 sqft Built 1998

$198,500

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $155.81
  • 3 Days on Market
  • MLS # : O5915683
  • Updated Date : 01/09/2021 at 21:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,274 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Awesome opportunity to own this beautiful move-in ready 4 bedroom 2 bathroom home under $200k! You will love the high ceilings as you enter the home in the Living/Dining combo as well as the Master Bedroom. Freshly painted interior, and brand new carpet in all four bedrooms. The master bedroom is spacious, and has great walk-in closet space, and is located in the rear of the house with french doors that lead to the back yard. There are spacious closets and a spacious 1 car garage. Come take a look and make this home yours today!

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: Clarcona Cove

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $63k253k

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

Neighborhood: Clarcona Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8931712

* 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
 

$178,650$218,350$198,500

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$689
Property Tax -$226
Property Insurance -$112
Property Management Fees -$129
CASH FLOW
$184

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.

$198,500

PROJECTED PRICE

$1,340

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 10.6%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,353

INVESTMENT

$58,353

Down Payment
$49,625
Rehab Estimate
$5,750
Closing Costs
$2,978

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$689

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,625
Loan Amount $148,875
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$26,345

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,191

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3403$1,3894$1,3955$1,500
$1,500
RENT COMPS ANALYSIS
  • 5273 Cona Reef Ct Orlando, FL 2
    • 4 beds 2 baths ∙ 1,274 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,274 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.05
    •  
  • 5444 Regal Oak Cir Orlando, FL 1
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1996
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.95
    •  
  • 7594 Groveoak Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1995
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,389
    • $0.91
    •  
  • 5335 Hyde Park Ave Orlando, FL 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1989
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 4860 Old Oak Tree Ct Orlando, FL 5
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1989
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Luis Montes
1.407.694.5356
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5915683
Last Updated: 01/09/2021
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