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627 Bohannon Blvd Orlando, FL 32824

3 Beds 2 Baths 1,702 sqft Built 1992

$290,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $170.39
  • 4 Days on Market
  • MLS # : O5919911
  • Updated Date : 01/30/2021 at 13:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,702 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Advantage Realty

Listing Agent's Description

Located within Orlando’s Southchase, this beautiful home is ready to welcome a new family! The home is conveniently located near SR 417, making this the perfect location for the family on-the-go or commuting to work! The home sits on a split floorplan that is super open, perfect for entertaining and large gatherings! Walk through the large, double front doors into the home and you are greeted with soaring 11 foot ceilings, neutral tile, and tons of natural lighting. The foyer is flanked by your formal living and dining spaces, both flooded with tons of light through the large front-facing windows. Through a large, arched entry you will enter into a spacious family room, complete with sliding door access to the patio and backyard views. Adjacent to the family room, and with an opening into the dining room, is a beautifully updated kitchen. The kitchen boasts miles of granite countertop space, updated fixtures, new cabinetry, a breakfast bar, and a dinette that overlooks the backyard. The master is located off the left side of the home and boasts sliding door access to the backyard, a walk-in closet, and an en-suite with updated, granite-top vanity, garden tub, and separate shower. Both secondary bedrooms, off the right side of the home, are good size with large closets and windows. The second bathroom is located between the secondary bedrooms and boasts a new granite-top vanity and shower/tub combo. Out back a covered patio overlooks a HUGE yard, big enough to play soccer, add a pool, and still have plenty of room for outdoor activities. A shed is located at the back left of the property and is perfect for all of your storage needs! Don’t miss out on your chance to call this move-in ready home your own!

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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: Southchase Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k312k

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

Neighborhood: Southchase Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9831767

* 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
Southwood Elementary School Primary Regular 578 39 6
South Creek Middle School Middle Regular 949 54 4
Cypress Creek High School High Magnet 3,124 148 5

Southwood Elementary School

  • Education Level: Primary
  • # of students: 578
  • # of teachers: 39
6
GreatSchools Rating

South Creek Middle School

  • Education Level: Middle
  • # of students: 949
  • # of teachers: 54
4
GreatSchools Rating

Cypress Creek High School

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

$261,000$319,000$290,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,007
Property Tax -$324
Property Insurance -$138
HOA -$53
Property Management Fees -$129
CASH FLOW
-$121

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.

$290,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$6,583

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
  • $0.9

    LIST RENT PER SQFT
  • $1,421

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2753$1,5304$1,7005$1,769
$1,769
RENT COMPS ANALYSIS
  • 627 Bohannon Blvd Orlando, FL 3
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.90
    •  
  • 12107 Bellsworth Way Orlando, FL 1
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1994
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.77
    •  
  • 11421 Kenley Cir Orlando, FL 2
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1993
    property image
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.81
    •  
  • 11627 Sir Winston Way Orlando, FL 4
    • 4 beds 2 baths ∙ 1,952 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,952 Sqft ∙ Built 1998
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 504 Fahey Ct Orlando, FL 5
    • 4 beds 3 baths ∙ 1,978 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,978 Sqft ∙ Built 1993
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,769
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jean Scott
1.407.864.5326
Keller Williams Advantage Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5919911
Last Updated: 01/30/2021
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