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5553 Jessamine Ln Orlando, FL 32839

4 Beds 3 Baths 2,434 sqft Built 1989

$434,900

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $178.68
  • 5 Days on Market
  • MLS # : O5906801
  • Updated Date : 11/19/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,434 sqft
  • Baths : 3 full
Listing Agent

Homevest Realty

Listing Agent's Description

Beautiful 4 bed 2 bath Pool Home! This home has a lovely 2-2 split floor plan with high ceilings and tons of charm. The formal living room has stunning custom wood built ins and the spacious dining room is perfect for entertaining. The kitchen has granite counter tops with GE profile appliances and a breakfast bar overlooking the pool and family room. The family room has a cozy feel with vaulted ceilings, a brick fireplace and french doors leading out to the pool deck. Enjoy the Florida sunshine in your screened private glistening pool and spa. The backyard is fully fenced so bring your furry friends! There is also a detached one car garage / utility shed perfect to store your boat or toys. This home is worry free during storm season with impact resistant french doors leading to the pool deck and a whole home 20 KW generator. This smart home has a digital thermostat and all rooms have been wired for Ethernet along with a whole home WIFI system. New AC 2019. Schedule your showing today to see this one of a kind home!

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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: Edgewood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k331k

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

Neighborhood: Edgewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10292411

* 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
 

$391,410$478,390$434,900

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,605
Property Tax -$473
Property Insurance -$182
Property Management Fees -$211
CASH FLOW
-$130

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.

$434,900

PROJECTED PRICE

$2,340

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,999

INVESTMENT

$120,999

Down Payment
$108,725
Rehab Estimate
$5,750
Closing Costs
$6,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,725
Loan Amount $326,175
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$14,481

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,422

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,340
1$2,3402$2,4203$2,500
$2,500
RENT COMPS ANALYSIS
  • 5553 Jessamine Ln Orlando, FL 1
    • 4 beds 3 baths ∙ 2,434 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,434 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.96
    •  
  • 4428 Raymar Dr Orlando, FL 2
    • 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 1980
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.94
    •  
  • 5007 Legacy Oaks Dr Orlando, FL 3
    • 4 beds 2 baths ∙ 2,392 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,392 Sqft ∙ Built 2008
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
PROPERTY LISTING DETAILS
Brad Young
1.407.897.5400
Homevest Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906801
Last Updated: 11/19/2020
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