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6114 Cedar Pine Dr Orlando, FL 32819

4 Beds 2 Baths 2,004 sqft Built 1986

$425,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $212.08
  • 5 Days on Market
  • MLS # : O5913848
  • Updated Date : 01/01/2021 at 17:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,004 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Advantage Iii

Listing Agent's Description

Welcome to this pool home GEM situated on an expansive CORNER LOT in the established neighborhood of Hidden Springs in Dr. Phillips. Beautiful accents and mature landscaping greet you and pride ownership is evident from the moment you enter the home. As you enter, you’ll find a formal living room to your left which is currently set up as a media room to enjoy family movie nights and a formal dining room to your right. You’ll love the family gathering room with unique features including vaulted tongue and groove pine ceiling and gorgeous stone wood burning fireplace. The spacious kitchen features stainless steel appliances, beautiful warm cabinets and plenty of storage and counter space. The family room is open to the kitchen and dinette, all offering a view of the pool and amazing outdoor space. Whether you choose to have fun in the sun or relax under the stars near the outdoor fireplace, your private retreat will accommodate both. Plantation shutters throughout the home! All bedrooms are spacious and the beautiful bathrooms were recently renovated. NEW ROOF recently installed in DEC 2020. Hidden Springs is conveniently located near many schools, parks, malls, restaurants, several of Orlando’s favorite tourist attractions. Just less than 15 miles from downtown Orlando, Windermere, Ocoee, and Kissimmee. Also, just minutes away from International Drive, Universal Studios, SeaWorld and Walt Disney World.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hidden Springs

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $105k465k

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

Neighborhood: Hidden Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10292619

* 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
Palm Lake Elementary School Primary Regular 624 42 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Palm Lake Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 42
8
GreatSchools Rating

Cornerstone Charter Academy K-8

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 52
7
GreatSchools Rating

Cornerstone Charter Academy High School

  • Education Level: High
  • # of students: 372
  • # of teachers: 21
7
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,568
Property Tax -$474
Property Insurance -$156
HOA -$8
Property Management Fees -$129
CASH FLOW
-$125

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.

$425,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 0.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$19,735

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,924

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$2,1004$2,2005$2,210
$2,210
RENT COMPS ANALYSIS
  • 6114 Cedar Pine Dr Orlando, FL 5
    • 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.10
    •  
  • 8039 Golden Sands Dr Orlando, FL 1
    • 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 1985
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 8155 Bluestar Cir Orlando, FL 2
    • 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1986
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 6324 Orange Cove Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1983
    property image
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.14
    •  
  • 8191 Bluestar Cir Orlando, FL 4
    • 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1986
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.14
    •  
PROPERTY LISTING DETAILS
Kevin Kendrick
1.407.271.1854
Keller Williams Advantage Iii
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5913848
Last Updated: 01/01/2021
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