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632 Herons Nest Ct Orlando, FL 32825

5 Beds 3 Baths 2,341 sqft Built 1994

$350,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $149.51
  • 4 Days on Market
  • MLS # : O5914921
  • Updated Date : 01/07/2021 at 15:51
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,341 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Renovated 5/3 with 2 car garage located in desirable Herons Cove, a small neighborhood of 39 homes. The quiet Cul-de-sac lot has fenced backyard with open patio, great for Summer Cookouts. Interior features bright, open floor plan with vaulted ceilings, Ceramic Tile throughout, formal LR/DR combination. Eat in Kitchen features Rich Chocolate Cabinets, granite counters, pantry closet, and New smudge proof Stainless Appliances. Kitchen has view of the backyard & overlooks Family Room. Master bath offers a dual sinks, garden tub and glass enclosed shower. Freshly painted in and out. Close to Hwy 408 & elementary/middle schools. Convenient location - easy access to grocery stores, downtown Orlando, Shopping, airport, amusement parks, & more. One look and you will want to call this home!

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: Heron Cove

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $69k322k

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

Neighborhood: Heron Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8951799

* 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
Cornerstone Charter Academy K-8 Primary Charter 933 52 7
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Cornerstone Charter Academy K-8

  • Education Level: Primary
  • # of students: 933
  • # of teachers: 52
7
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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,216
Property Tax -$398
Property Insurance -$176
HOA -$45
Property Management Fees -$129
CASH FLOW
$66

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.

$350,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,620

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,060

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,955
1$1,9552$2,0303$2,1004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 632 Herons Nest Ct Orlando, FL 2
    • 5 beds 3 baths ∙ 2,341 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,341 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.87
    •  
  • 10409 Westley Way Orlando, FL 1
    • 5 beds 3 baths ∙ 2,127 Sqft ∙ Built 1979 5 beds 3 baths ∙ 2,127 Sqft ∙ Built 1979
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,955
    • $0.92
    •  
  • 608 Fern Lake Dr Orlando, FL 3
    • 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2003
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 1283 Crane Crest Way Orlando, FL 4
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 2006
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 609 Fern Lake Dr Orlando, FL 5
    • 5 beds 3 baths ∙ 2,467 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,467 Sqft ∙ Built 2004
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
PROPERTY LISTING DETAILS
Charlin Medina Vazquez
1.407.468.1130
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5914921
Last Updated: 01/07/2021
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