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5824 Rockwood Ave Orlando, FL 32839

3 Beds 1 Baths 1,434 sqft Built 1963

$250,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $174.34
  • 3 Days on Market
  • MLS # : O5904420
  • Updated Date : 11/07/2020 at 15:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,434 sqft
  • Baths : 1 full
Listing Agent

Olde Town Brokers Inc

Listing Agent's Description

Location, Location! Updated Single Family Home in quiet neighborhood bordering Lake Jessamine. Ideally located halfway between Downtown Orlando and Orlando International Airport, tucked away on a dead end road. The sweet ranch style home welcomes you with expansive yard, front porch, open floor plan and split bedroom plan. The bright, light kitchen has been fully renovated with new cabinets, countertops, stainless steel appliances and space for breakfast table. Master Bedroom features a huge walk-in closet with built-ins and washer/dryer hook-ups. In addition to the Living/Dining room, there is a large Florida Room (bonus room) with loads of windows and easy-care tile flooring. The backyard features a koi pond, chicken coop, water feature and covered gazebo/potting shed. It is a wonderful place to enjoy the sights and sounds of nature during cooler evenings. Short distance to Lake Jessamine Boat Ramp.

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: Pine Castle

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Pine Castle

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7561712

* 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$922
Property Tax -$284
Property Insurance -$122
Property Management Fees -$115
CASH FLOW
-$164

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.

$250,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.4%
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-$4.0k-$2.0k$0.0$2.0k$4.0k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,816

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,488

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,3953$1,4004$1,6495$1,950
$1,950
RENT COMPS ANALYSIS
  • 5824 Rockwood Ave Orlando, FL 1
    • 3 beds 1 baths ∙ 1,434 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,434 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.89
    •  
  • 5626 Sandalwood Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1955
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 6725 Kelland Ave Orlando, FL 3
    • 4 beds 2 baths ∙ 1,375 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,375 Sqft ∙ Built 1970
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.02
    •  
  • 213 W Buchanon Ave Orlando, FL 4
    • 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 1958
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.96
    •  
  • 5805 Luzon Pl Orlando, FL 5
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1960
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.11
    •  
PROPERTY LISTING DETAILS
Jeannie Clarke
1.407.497.0144
Olde Town Brokers Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904420
Last Updated: 11/07/2020
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