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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $156.04
- 2 Days on Market
- MLS # : O5924980
- Updated Date : 02/20/2021 at 17:17
CONSTRUCTION
- Beds : 3
- Floor Size : 1,922 sqft
- Baths : 2 full
Listing Agent
New Times Realty
Listing Agent's Description
Beautifully updated 3 bedroom/2 bathroom home with large screened pool. Home features all new paint, brand new kitchen with granite counters, new stainless steel appliances, new baths, new flooring throughout, and so much more. Long Lake Park is very conveniently located minutes to large retailers, amenities, and multiple restaurant offerings, and close to major roads with easy access to Theme Parks, Orlando's finest entertainment districts, Orlando International Airport and Central Florida Beaches.
SEE MORE
- 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: Long Lake Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Long Lake Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,530 |
| EXPENSES | Loan Payment | -$1,042 |
| Property Tax | -$342 | |
| Property Insurance | -$151 | |
| HOA | -$17 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$150
|
||
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.
$299,900
PROJECTED PRICE
$1,530
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.01% |
| Appreciation Year (1-5) | 10.6% |
| 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
$85,224
LOAN DETAILS
$1,042
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $74,975 |
| Loan Amount | $224,925 |
2.42
YEARS SAVED
$5,292
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,530
LIST RENT -
$0.8
LIST RENT PER SQFT
-
$1,605
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
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-
6711 King Rail Ct Orlando, FL 4
- 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 1998
LEASED 04/04/20- Rent
- Rent Per SQFT
- $1,650
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6758 Limpkin Dr Orlando, FL 5
- 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 1990
LEASED 09/10/20- Rent
- Rent Per SQFT
- $1,750
- $0.88
PROPERTY LISTING DETAILS
1.407.412.8552
New Times Realty
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5924980
Last Updated: 02/20/2021
