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PROPERTY INFO
FACTS
- Single Family
- Built In 1985
- Price/Sqft : $162.27
- 3 Days on Market
- MLS # : O5905339
- Updated Date : 11/14/2020 at 00:41
CONSTRUCTION
- Beds : 3
- Floor Size : 1,386 sqft
- Baths : 2 full
Listing Agent
Homepro Properties
Listing Agent's Description
Don't miss out on the fantastic deal for this 3-bedroom 2 bath block home located in the Metrowest area. The location offers you quick access to the 408 Expressway, Kirkman Road, Metrowest Blvd, Valenica College and you are only a couple of minutes from the Universal Studio Parks. The home is move-in ready with new in/out paint, new carpet in the bedrooms, nice ceramic tile in the main living areas, a new water heater, new stainless range and dishwasher and Corian style counter tops in the kitchen. Interior features include vaulted ceilings in the living room with skylights, dual sinks in the master bath along with a spacious walk-in shower, split bedrooms and two sliding glass doors out to your rear deck. The 2 car garage is large with plenty of room for storage. You'll enjoy the rear yard with a star fruit tree and a big wood deck for entertaining. The home is zoned for A-rated Olympia High School! Don’t wait, call today for your private viewing. It won't last long!
SEE MORE
- 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: Lake Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,320 |
| EXPENSES | Loan Payment | -$830 |
| Property Tax | -$256 | |
| Property Insurance | -$119 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$3
|
||
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.
$224,900
PROJECTED PRICE
$1,320
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.21% |
| Appreciation Year (1-5) | 5.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.01% |
| 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
$65,349
LOAN DETAILS
$830
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $56,225 |
| Loan Amount | $168,675 |
4
YEARS SAVED
$10,022
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,320
LIST RENT -
$0.95
LIST RENT PER SQFT
-
$1,435
COMP ESTIMATED VALUE -
$1.04
COMP AVG. RENT PER SQFT
Comps Range
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5913 Iona Ave Orlando, FL 1
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- Rent
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LEASED 02/12/20- Rent
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- $1,375
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LEASED 09/01/20- Rent
- Rent Per SQFT
- $1,450
- $1.10
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- 4 beds 2 baths ∙ 1,408 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,408 Sqft ∙ Built 1998
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LEASED 10/20/20- Rent
- Rent Per SQFT
- $1,475
- $1.05
-
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![property image]()
LEASED 03/07/20- Rent
- Rent Per SQFT
- $1,700
- $1.10
PROPERTY LISTING DETAILS
1.407.322.5956
Homepro Properties
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5905339
Last Updated: 11/14/2020
