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6717 Magnolia Homes Rd Orlando, FL 32810

3 Beds 2 Baths 1,477 sqft Built 2002

$289,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

$82,335

Investment Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $195.67
  • 5 Days on Market
  • MLS # : O5911457
  • Updated Date : 12/19/2020 at 14:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,477 sqft
  • Baths : 2 full
Listing Agent

Porzig Realty

Listing Agent's Description

Great location with quick access to S.R. 414, Interstate 4. Seminole State College, Advent Health Corporate Headquarters, Publix, restaurants and retail outlets are all less than 3 minutes away! Enjoy the outdoors at Lake Lotus and Riverside Acres parks nearby on Magnolia Homes Rd. This move-in ready home built in 2002 has been maintained with care by the owner. The home faces wooded lots across the street. No HOA fee! The home was reroofed 8/26/2020, and new Central Air conditioner in 7/2015.

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MARKET HIGHLIGHTS

Orlando Market Report
  • 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: Oak Vista

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $66k253k

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

Neighborhood: Oak Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8241712

* 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
 

FINANCIALS

Learn how to read this

$260,100$317,900$289,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,066
Property Tax -$329
Property Insurance -$124
Property Management Fees -$129
CASH FLOW
-$218

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.

$289,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 10.6%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment		 $72,250
Rehab Estimate		 $5,750
Closing Costs		 $4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$3,869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT

  • $0.97

    LIST RENT PER SQFT

  • $1,429

    COMP ESTIMATED VALUE

  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4303$1,5004$1,5995$1,650
$1,650
RENT COMPS ANALYSIS
  • 6717 Magnolia Homes Rd Orlando, FL 2
    • 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.97
    •  
  • 3645 Falling Leaf Ln Orlando, FL 1
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1984
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 4860 Old Oak Tree Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1989
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 5337 Old Oak Tree Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1989
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.94
    •  
  • 7733 Eden Park Rd Orlando, FL 5
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2012
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Dennis Germain
1.321.794.9140
Porzig Realty
BUYER AGENT
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
SOURCE
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5911457
Last Updated: 12/19/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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