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632 Lake Biscayne Way Orlando, FL 32824

3 Beds 2 Baths 1,643 sqft Built 1997

$284,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $172.85
  • 3 Days on Market
  • MLS # : O5908499
  • Updated Date : 11/28/2020 at 23:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,643 sqft
  • Baths : 2 full
Listing Agent

The Anderson Group & Co Pl

Listing Agent's Description

Now Available!!! A BEAUTIFUL UPGRADED HOME in the sought-after GATED COMMUNITY of Hidden Lakes in Orlando. You will enjoy living in this SPACIOUS move-in ready, 3 Bedrooms 2 Bathrooms, LIGHT, BRIGHT, Open-concept Home. The Upgraded Kitchen with granite counters, recessed lighting, a breakfast bar & eat-in nook, offers great flow into the open-plan Dining Room and Living Room. The Large Master Suite is a desirable retreat, with double sinks, bathtub, an oversized walk-in shower, a separate wc, newly built-out His n Hers walk-in closets, AND sliding doors from the Master Bedroom to the Large screened porch & Huge backyard. THIS EXCEPTIONAL HOME COMES WITH NUMEROUS UPGRADES. NEW ROOF 2016, NEW AC 2019, NEW interior paint in neutral colors, NEW interior doors, NEW Walk-in Closet System & Built-ins IN SEPARATE HIS n HERS Closets, NEW Vinyl Fence, Irrigation & Sprinkler System, NEW Shelving Units & Flooring in Garage, NEW Kitchen Hardware & Refinished Kitchen Cabinets, NEW Framed-in Bathroom Mirrors, NEW WCs, NEW Bathroom Hardware & Refinished Bathroom Cabinets, and NEW Shelving in the Laundry Room. The added bonus of a Large Covered Screened in Back-Porch, PLUS A HUGE FULLY-FENCED BACKYARD, makes this Home Perfect for Entertaining or Play. This Home has it ALL, including Landscaping front and back, Featuring Orange, Grapefruit, Lemon, Lime Fruit Trees, Blueberry Bushes, a Fire-pit, AND space for a Pool. Imagine your Florida-Lifestyle in your new Home Sweet Home, in a Walkable Tree-Lined Community, which offers 24-hour secure gated access, a Beautiful Community Swimming Pool, Multi-Courts, a Playground, and LOW HOA. This amazing Home is Centrally Located to meet all your needs, with easy access to Florida’s Turnpike, 417/Central Florida Greeneway, Osceola Parkway, 15 minutes from Orlando International Airport, 15 minutes from Boxi Park Lake Nona, 20 minutes from Restaurant Row on Sand Lake Road, 25 minutes from Disney Springs, 30 minutes from UCF, and 1 hour from Cocoa Beach.

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

Oakshire Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 40
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
 

$255,600$312,400$284,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,048
Property Tax -$318
Property Insurance -$134
HOA -$80
Property Management Fees -$148
CASH FLOW
-$87

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.

$284,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.58%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,010

INVESTMENT

$81,010

Down Payment
$71,000
Rehab Estimate
$5,750
Closing Costs
$4,260

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,048

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,000
Loan Amount $213,000
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,501

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,655

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6403$1,6504$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 632 Lake Biscayne Way Orlando, FL 2
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.00
    •  
  • 14556 Huntingfield Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1991
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.96
    •  
  • 1422 Coldwater Ct Orlando, FL 3
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1993
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 1030 Adelphi Ln Orlando, FL 4
    • 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 2001
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 15020 Lake Azure Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1999
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
PROPERTY LISTING DETAILS
Alison Maltby
1.407.325.1483
The Anderson Group & Co Pl
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5908499
Last Updated: 11/28/2020
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