Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

542 Fern Lake Dr Orlando, FL 32825

3 Beds 2 Baths 1,847 sqft Built 2003

$315,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $170.55
  • 3 Days on Market
  • MLS # : O5912413
  • Updated Date : 12/19/2020 at 09:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,847 sqft
  • Baths : 2 full
Listing Agent

Watson Realty Corp

Listing Agent's Description

Welcome home to 542 Fern Lake Drive in gated Woodland Lakes. From the moment you walk in the door, you will be blown away by tranquil WATER VIEWS! This 3 Bedroom 2 bathroom one story floorplan features hand-scraped hardwood flooring, 42" cabinetry, mosaic tile backsplash, trey ceilings, 5.25" ungraded baseboards, NEW ROOF in 2019, new carpeting, upgraded lighting fixtures, new interior paint, top of the line California closet system, large jacuzzi tub, garage music studio with new mini Split AC Unit, and much more!!! All of this is tucked away on a gorgeous pond front lot with a scenic walking trail. The Community boasts a RESORT STYLE POOL, PLAYGROUND & PICNIC AREA. GREAT LOCATION near WATERFORD TOWN CENTER, (417,408,528) LOCKHEED, UCF, LAKE NONA, easy drive to AIRPORT or DOWNTOWN. Act fast or this one will be GONE!!!

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: Woodland Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $105k353k

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

Neighborhood: Woodland Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10242089

* 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
Cypress Springs Elementary School Primary Regular 758 53 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Cypress Springs Elementary School

  • Education Level: Primary
  • # of students: 758
  • # of teachers: 53
9
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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,162
Property Tax -$366
Property Insurance -$146
HOA -$79
Property Management Fees -$129
CASH FLOW
-$72

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.

$315,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$15,334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,824

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7003$1,8104$1,8505$1,866
$1,866
RENT COMPS ANALYSIS
  • 542 Fern Lake Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.98
    •  
  • 10713 Flycast Cir Orlando, FL 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2000
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.94
    •  
  • 10513 Leader Ln Orlando, FL 2
    • 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 2001
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 10861 Fern Rock Rd Orlando, FL 4
    • 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 2011
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 11203 Spinning Reel Cir Orlando, FL 5
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2002
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,866
    • $1.02
    •  
PROPERTY LISTING DETAILS
Virginia Bellhorn
1.407.580.7235
Watson Realty Corp
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5912413
Last Updated: 12/19/2020
BESbswy