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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Heron Cove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,500
LOAN DETAILS
$1,216
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $87,500 |
| Loan Amount | $262,500 |
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
-
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
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- $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
1.407.468.1130
Exp Realty Llc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5914921
Last Updated: 01/07/2021
