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5420 Stirrup Way Orlando, FL 32810

4 Beds 2 Baths 1,356 sqft Built 1996

$240,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $176.99
  • 2 Days on Market
  • MLS # : O5931546
  • Updated Date : 03/21/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,356 sqft
  • Baths : 2 full
Listing Agent

Epic Real Estate Advisors Llc

Listing Agent's Description

This is a beautifully updated home with a new roof installed in 2019 and new garage door Feb 2021. No HOA! The home is very open and feels much more spacious than the square footage shows. The master bedroom has a large walk in closet and freshly updated bathroom. The three guest bedrooms are large enough for a nice size family to be perfectly comfortable. The large shed out back boasts stucco siding and french doors to make it easy to fit large items inside. Have nice family barbecue's using your pergola and wood deck as a gathering place and the bonfire pit for smore's or for just a nice hot fire. The covered back area has an extended brick paver deck to suit your needs. No FHA financing offers allowed as the owner has not owned the property for more than 90 days. The owner is a Florida licensed real estate broker.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rimar Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $57k253k

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

Neighborhood: Rimar Ridge

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
Riverside Elementary School Primary Regular 637 44 2
Lockhart Middle School Middle Regular 814 44 3
Wekiva High School High Regular 2,349 113 4

Riverside Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 44
2
GreatSchools Rating

Lockhart Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 44
3
GreatSchools Rating

Wekiva High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 113
4
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$834
Property Tax -$273
Property Insurance -$117
Property Management Fees -$129
CASH FLOW
$77

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.

$240,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 10.6%
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$200k$400k$600k$800k$1.0M

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$18,237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,275

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3953$1,4304$1,5005$1,525
$1,525
RENT COMPS ANALYSIS
  • 5420 Stirrup Way Orlando, FL 3
    • 4 beds 2 baths ∙ 1,356 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,356 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $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
    •  
  • 5335 Hyde Park Ave Orlando, FL 2
    • 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 4
    • 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
    •  
  • 5806 Grand Canyon Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1988
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.93
    •  
PROPERTY LISTING DETAILS
Chris Burden
1.407.495.3672
Epic Real Estate Advisors Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5931546
Last Updated: 03/21/2021
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