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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pine Castle
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$72,000
LOAN DETAILS
$922
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $62,500 |
Loan Amount | $187,500 |
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
PROPERTY LISTING DETAILS
1.407.497.0144
Olde Town Brokers Inc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5904420
Last Updated: 11/07/2020