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5500 Turkey Lake Rd Orlando, FL 32819

4 Beds 3 Baths 2,388 sqft Built 1964

$499,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $208.96
  • 7 Days on Market
  • MLS # : O5917830
  • Updated Date : 02/06/2021 at 15:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,388 sqft
  • Baths : 3 full
Listing Agent

Upside Real Estate Inc

Listing Agent's Description

Resort living in well established neighborhood down the street from Harry Potter! Quality one story brick home sits high with amazing lake views and access to Lake Cane. Charming front porch is supported by maintenance free poly columns. Double entry doors open to large family room with wood beams and Chicago brick wood burning fireplace. Massive windows provide natural light and water views. New plank laminate flooring creates carefree living with a rich wood look. Bright kitchen was remodeled with granite countertops and stainless appliances. Spacious 4 bedrooms and 3 baths. Two rooms are currently listed with AirB&B. Potential extra income in the $2-$3,000 per month range. Flexible Florida Sun Room doubles as exercise room…..perfect spot to sweat and swim. Outdoor area is designed for Florida living. Huge screened pool, hot tub and outdoor shower. Side yard is fenced and has additional patio with fire pit and another covered Tiki patio. Life can be a party and this home is perfect for you Staycation. Walking distance to Universal Studios and Lake Cane Park. Easy access to major roads, fine dining, premium shopping, international airport and area attractions.

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: Lake Cane Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $98k331k

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

Neighborhood: Lake Cane Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10282089

* 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
Palm Lake Elementary School Primary Regular 624 42 8
Chain Of Lakes Middle School Middle Regular 1,285 74 3
Dr. Phillips High School High Magnet 3,491 174 6

Palm Lake Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 42
8
GreatSchools Rating

Chain Of Lakes Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 74
3
GreatSchools Rating

Dr. Phillips High School

  • Education Level: High
  • # of students: 3,491
  • # of teachers: 174
6
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,733
Property Tax -$557
Property Insurance -$179
Property Management Fees -$129
CASH FLOW
-$308

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.

$499,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 4.7%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,589

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,460

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,2904$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 5500 Turkey Lake Rd Orlando, FL 3
    • 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.96
    •  
  • 5501 Ridgeway Dr Orlando, FL 1
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1959 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1959
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
  • 5541 Bay Lagoon Cir Orlando, FL 2
    • 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 1984
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 5443 Spring Run Ave #2 Orlando, FL 4
    • 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 1983
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.09
    •  
  • 6709 Bittersweet Ln Orlando, FL 5
    • 3 beds 3 baths ∙ 2,312 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,312 Sqft ∙ Built 1979
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.08
    •  
PROPERTY LISTING DETAILS
Judy Black
1.407.810.1803
Upside Real Estate Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917830
Last Updated: 02/06/2021
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