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608 Lake Biscayne Way Orlando, FL 32824

5 Beds 4 Baths 2,918 sqft Built 2000

$399,900

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $137.05
  • 4 Days on Market
  • MLS # : S5048228
  • Updated Date : 03/26/2021 at 10:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,918 sqft
  • Baths : 3 full , 1 half
Listing Agent

Vital Realty Group Inc

Listing Agent's Description

POOL HOME in the quiet neighborhood of Hidden Lakes! This beautiful 5 bedrooms 3.5 baths home is ideally located on a corner lot. This home features a large family room/dining room combination perfect for entertaining and family events. High ceilings make this home feel very spacious. Your large master bedroom has a wonderful walk-in closet and a very large master bath. covered screened-in porch overlooking your private pool. Just minutes from downtown or Disney, Lake Nona town center, Medical City, and Orlando international airport. Don't delay to schedule a showing today!

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: Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k308k

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

Neighborhood: Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9921763

* 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
Oakshire Elementary School Primary Regular 619 40 8
Meadow Woods Middle School Middle Regular 1,036 61 3
Cypress Creek High School High Magnet 3,124 148 5

Oakshire Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 40
8
GreatSchools Rating

Meadow Woods Middle School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 61
3
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,124
  • # of teachers: 148
5
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,389
Property Tax -$447
Property Insurance -$211
HOA -$93
Property Management Fees -$129
CASH FLOW
-$158

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.

$399,900

PROJECTED PRICE

$2,110

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
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-$5.0k$0.0$5.0k$10k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$8,687

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,283

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,110
1$2,1102$2,2003$2,2004$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 608 Lake Biscayne Way Orlando, FL 1
    • 5 beds 4 baths ∙ 2,918 Sqft ∙ Built 2000 5 beds 4 baths ∙ 2,918 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.72
    •  
  • 2737 Sand Arbor Cir Orlando, FL 2
    • 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2006
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
  • 2719 Sand Arbor Cir Orlando, FL 3
    • 5 beds 4 baths ∙ 2,902 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,902 Sqft ∙ Built 2006
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 840 Lake Biscayne Way Orlando, FL 4
    • 5 beds 4 baths ∙ 3,037 Sqft ∙ Built 1997 5 beds 4 baths ∙ 3,037 Sqft ∙ Built 1997
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
  • 2507 Sand Arbor Cir Orlando, FL 5
    • 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2006
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.83
    •  
PROPERTY LISTING DETAILS
Maria Genao Santos
1.407.552.6355
Vital Realty Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5048228
Last Updated: 03/26/2021
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