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7019 Burnway Dr Orlando, FL 32819

4 Beds 2 Baths 1,950 sqft Built 1981

$355,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $182.05
  • 5 Days on Market
  • MLS # : O5901230
  • Updated Date : 12/09/2020 at 18:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,950 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This 4 bedroom, 2 bath pool home is located in the heart of Dr. Phillips. The DP Little League fields, YMCA, Restaurant Row/Sand Lake Road, grocery and retail shopping, library and healthcare are right around the corner. You won't find a better place to live in Dr. Phillips! This home has been freshly painted inside and out (2020), has a new roof (2020) a 18 SEER air conditioner (2016). Other upgraded features include gas range, gas water heater and furnace. Not a stitch of carpeting- there is ceramic tile throughout the entire home for easy maintenance. An oversized family room is perfect for watching tv and entertaining, while the separate living room/dining room offers privacy for more intimate gatherings. The kitchen was remodeled in 2007 and features silestone countertops, hard wood cabinets and an eat-in breakfast nook. Re-piping was also completed at the time of the kitchen remodel. Prepare your dinner as you overlook your 30 x 15 foot pool in the completely fenced backyard. Great for pets and families! A 19' x 12' recently rescreened, covered patio allows for further outdoor enjoyment. To top it all off, this home is walkable to the highly desirable schools of Dr. Phillips Elementary, SW Middle and Dr. Phillips High School. You won't want to miss seeing this fine Dr. Phillips home!

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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: Clubhouse Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $105k367k

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

Neighborhood: Clubhouse Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10292233

* 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
Dr. Phillips Elementary School Primary Regular 641 43 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Dr. Phillips Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 43
9
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
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,310
Property Tax -$396
Property Insurance -$153
Property Management Fees -$129
CASH FLOW
$32

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.

$355,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.3%
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

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$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$29,115

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,111

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$1,9503$2,0204$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 7019 Burnway Dr Orlando, FL 3
    • 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.04
    •  
  • 6895 Tamarind Cir Orlando, FL 1
    • 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 1977
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.99
    •  
  • 5968 Valerian Blvd Orlando, FL 2
    • 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1973
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
  • 8400 Bay Springs Dr Orlando, FL 4
    • 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 1999
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.03
    •  
  • 7103 Burnway Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1982
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.24
    •  
PROPERTY LISTING DETAILS
Kellie Brinker
1.407.832.1073
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5901230
Last Updated: 12/09/2020
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