Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7024 Skylane Dr Orlando, FL 32819

4 Beds 2 Baths 1,645 sqft Built 1971

INVESTimate

$349,900

List Price

$1,810

$1,629 - $1,991

Rent Est.

$366,275  ( +4.68%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1971
  • Price/Sqft : $212.71
  • 9 Days on Market
  • MLS # : O5885864
  • Updated Date : 08/18/2020 at 09:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,645 sqft
  • Baths : 2 full
Listing Agent

Crown Realty Company

Listing Agent's Description

Gorgeous renovated home in the heart of Dr. Phillips. This 4 Bedroom/2 Bath house with lake access features a two car garage, large fenced in yard, contemporary finishes, new kitchen with solid wood cabinets, quartz counter tops and new Samsung appliances. Bathrooms boast modern shaker cabinets, quartz counter tops, and marble shower. As you enter the home, the spacious living areas with new luxury vinyl plank floors lead you out onto the over sized lanai with porcelain wood floors great for outdoor living and hosting. New Roof. Lake Cane is a skiable lake and easily accessible. Fabulous location close to Restaurant Row, Bay Hill, Universal Studios, Mall of Millenia, International Dr, I-4, and OIA.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Cane Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $98k331k

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

Neighborhood: Lake Cane Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10282089

* 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
Palm Lake Elementary School Primary Regular 624 42 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Palm Lake Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 42
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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,291
Property Tax -$390
Property Insurance -$134
Property Management Fees -$163
CASH FLOW
-$169

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.

$349,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 4.68%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,519

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,892

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,8104$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 7024 Skylane Dr Orlando, 3
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.10
    •  
  • 5512 Clearview Dr Orlando, 1
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1959
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 5411 Bay Lagoon Cir Orlando, 2
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1984
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 7009 Cane Hills Cir Orlando, 4
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1959
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.31
    •  
  • 5329 Bay Lagoon Cir Orlando, 5
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1985
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.30
    •  
PROPERTY LISTING DETAILS
Sunny Pabla
1.407.967.3287
Crown Realty Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5885864
Last Updated: 08/18/2020
BESbswy