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6618 Orange Knoll Dr Belle Isle, FL 32812

4 Beds 2 Baths 2,275 sqft Built 1980

$465,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $204.40
  • 4 Days on Market
  • MLS # : O5927479
  • Updated Date : 03/05/2021 at 11:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,275 sqft
  • Baths : 2 full
Listing Agent

Homevest Realty

Listing Agent's Description

Your search ends here! This incredible Orlando home boasts 4 bedrooms and 2 bathrooms. Formal dining room and form living room on either side upon the entrance. The living room is spacious with high vaulted ceiling and a gorgeous brick accented fireplace. From the living room you have access to your backyard oasis! Here you will have an enclosed patio area with the view of your gorgeous pool and covered lounge area. Located in a great location between Downtown and the Orlando International Airport, with neighborhood access and boat ramp to the Conway Chain of Lakes, this home is sure to go quickly. Main outdoor electrical panel Dec 2020. Indoor electric panel 2013. New irrigation pump 2020. The pool is saltwater, 22,000 gallons.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Neighborhood: Conway Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $110k480k

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

Neighborhood: Conway Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10292089

* 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
Shenandoah Elementary School Primary Regular 569 41 7
Conway Middle School Middle Regular 999 57 3
Oak Ridge High School High Magnet 2,633 127 3

Shenandoah Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 41
7
GreatSchools Rating

Conway Middle School

  • Education Level: Middle
  • # of students: 999
  • # of teachers: 57
3
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 2,633
  • # of teachers: 127
3
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,615
Property Tax -$565
Property Insurance -$172
HOA -$10
Property Management Fees -$129
CASH FLOW
-$491

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.

$465,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,002

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,0004$2,190
$2,190
RENT COMPS ANALYSIS
  • 6618 Orange Knoll Dr Belle Isle, FL 3
    • 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 5115 Saint Germain Ave Belle Isle, FL 1
    • 4 beds 3 baths ∙ 2,149 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,149 Sqft ∙ Built 1962
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 3634 Country Lakes Dr Belle Isle, FL 2
    • 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 1979
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
  • 5404 Chiswick Cir Belle Isle, FL 4
    • 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1998
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.87
    •  
PROPERTY LISTING DETAILS
Brad Young
1.407.897.5400
Homevest Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5927479
Last Updated: 03/05/2021
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