Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

604 Brockway Ave Orlando, FL 32807

4 Beds 3 Baths 2,339 sqft Built 1961

$275,900

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $117.96
  • 3 Days on Market
  • MLS # : O5922858
  • Updated Date : 02/19/2021 at 22:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,339 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Winter Park

Listing Agent's Description

Gorgeous ranch style home in Orlando! This 4 bedroom, 2.5 bath home features newer flooring in the common areas, built-ins throughout, exposed, painted beams, and several living spaces. The kitchen boasts stainless steel appliances, an oven that allows you to oversee the happenings of the family room, and rustic brick accents. In the master bedroom, enjoy lovely built-in shelving, and walk-in closet. All of this on an oversized, corner lot! Located in the neighborhood of Engelwood Park, enjoy ease of access to parks, shopping, restaurants, and more! This one is a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Engelwood Park

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $56k253k

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

Neighborhood: Engelwood Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7921712

* 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
Engelwood Elementary School Primary Regular 594 38 2
Stonewall Jackson Middle School Middle Magnet 1,292 70 2
Colonial High School High Magnet 3,339 160 4

Engelwood Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 38
2
GreatSchools Rating

Stonewall Jackson Middle School

  • Education Level: Middle
  • # of students: 1,292
  • # of teachers: 70
2
GreatSchools Rating

Colonial High School

  • Education Level: High
  • # of students: 3,339
  • # of teachers: 160
4
GreatSchools Rating
 

$248,310$303,490$275,900

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$958
Property Tax -$351
Property Insurance -$176
Property Management Fees -$129
CASH FLOW
$396

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.

$275,900

PROJECTED PRICE

$2,010

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 14.0%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$78,864

INVESTMENT

$78,864

Down Payment
$68,975
Rehab Estimate
$5,750
Closing Costs
$4,139

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$958

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,975
Loan Amount $206,925
See What Happens When You Reinvest Cash Flow

11.75

YEARS SAVED

$50,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,128

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0103$2,300
$2,300
RENT COMPS ANALYSIS
  • 604 Brockway Ave Orlando, FL 2
    • 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.86
    •  
  • 1718 Larkin Ave Orlando, FL 1
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1962
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 1111 Pinar Dr Orlando, FL 3
    • 3 beds 3 baths ∙ 2,458 Sqft ∙ Built 1968 3 beds 3 baths ∙ 2,458 Sqft ∙ Built 1968
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
David Coker
1.407.923.8290
Keller Williams Winter Park
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5922858
Last Updated: 02/19/2021
BESbswy