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7032 Watseka Ave Orlando, FL 32818

3 Beds 2 Baths 1,300 sqft Built 1972

$235,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $180.77
  • 2 Days on Market
  • MLS # : O5920136
  • Updated Date : 01/30/2021 at 15:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Advantage Realty

Listing Agent's Description

This BEAUTIFULLY RENOVATED home HAS IT ALL…3BR, 1-1/2 BA POOL HOME with NEWER ROOF; NEWER A/C; SOLAR PANELS; NEWLY PAINTED INTERIOR & EXTERIOR (2019); PLANTATION SHUTTERS, KNOCK-DOWN CEILINGS, FULLY-FENCED AND THERE ‘S NO HOA! You will love the OPEN FOOR PLAN with it’s REMODELED & EXPANDED KITCHEN w/ GRANITE COUNTERS & NEW CABINETRY, NEWER STAINLESS APPLIANCES, BUILT-IN BREAKFAST BAR ON A BUTCHER BLOCK TOPPED ADDITION! Other highlights include: WHOLE HOUSE GENERATOR, WATER SOFTENER SYSTEM, NEWER WINDOWS, NEWER WATER HEATER, LARGER CERAMIC TILE FLOORS THROUGHOUT; PAVERS AROUND POOL DECK; Large Inside UTILITY ROOM w/ lots of Storage; TWO LARGE SHEDS (ONE WITH ELECTRICITY) & More! Lovely FRENCH DOORS off the kitchen lead to a Large Screened and Covered BACK PATIO where you can enjoy the view of the SPARKLING POOL! NOTE: There are Sun Run Solar Panels installed that have a contract obligation of $144.06/Mo (currently) with approx 23.5 yrs left; they save approx. $40 to $120/Mo off the electric bill so it’s only $80/Mo. (Seller says can be removed if not wanted and then nothing will be owed.) All this on a quiet cul-de-sac street…hurry… this one won’t last for long!

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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: Clearview Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $47k253k

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

Neighborhood: Clearview Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8471712

* 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
Lake Gem Elementary School Primary Regular 901 58 3
Robinswood Middle School Middle Magnet 1,232 71 2
Evans High School High Magnet 2,355 117 3

Lake Gem Elementary School

  • Education Level: Primary
  • # of students: 901
  • # of teachers: 58
3
GreatSchools Rating

Robinswood Middle School

  • Education Level: Middle
  • # of students: 1,232
  • # of teachers: 71
2
GreatSchools Rating

Evans High School

  • Education Level: High
  • # of students: 2,355
  • # of teachers: 117
3
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$816
Property Tax -$268
Property Insurance -$114
Property Management Fees -$129
CASH FLOW
-$67

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.

$235,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 11.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$7,636

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $962

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,1953$1,260
$1,260
RENT COMPS ANALYSIS
  • 7032 Watseka Ave Orlando, FL 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.97
    •  
  • 6816 Colony Oaks Ln Orlando, FL 1
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1986
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.73
    •  
  • 5913 White Egret Ln Orlando, FL 2
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.75
    •  
PROPERTY LISTING DETAILS
Diane Sterling
1.407.761.0512
Keller Williams Advantage Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5920136
Last Updated: 01/30/2021
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