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7033 Crestlake Dr Orlando, FL 32819

3 Beds 2 Baths 1,581 sqft Built 1972

$325,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $205.57
  • 3 Days on Market
  • MLS # : S5045492
  • Updated Date : 01/23/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,581 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome home! Gorgeous renovated Home in the heart of Dr. Phillips. You’ll be in an amazing location just one mile away from Universal Studios and Islands of Adventure, with quick access to main roads including Florida’s Turnpike, I4 and Sand Lake Rd. This charming home in Lake Cane Estates is loaded with appeal. Lake Cane Estates owners have “deeded lake access to Lake Cane” for fishing, skiing, swimming or other activities. This Beautiful home features a new kitchen with New Shaker cabinets, granite counter tops and Stainless Steel appliances. All Bathrooms boast modern shaker cabinets, granite counter tops, and new tile. So Many upgrades from including Roof. Fabulous location close to restaurant Row, Bay Hill, Universal Studios, Mal of Millenia, International Dr, I-4, and OIA. Home in is move in ready Condition. This is one you do NOT want to miss! This home is Priced to Sell!

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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: Lake Cane Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k331k

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

Neighborhood: Lake Cane Estates

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
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,129
Property Tax -$363
Property Insurance -$131
Property Management Fees -$129
CASH FLOW
$239

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.

$325,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 4.7%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$42,267

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,992

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7903$1,9904$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 7033 Crestlake Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.26
    •  
  • 5512 Clearview Dr Orlando, FL 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
    •  
  • 7017 Talbot Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1979
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.26
    •  
  • 6724 Nina Rosa Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1964
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.43
    •  
  • 7009 Cane Hills Cir Orlando, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
Cesar Estrada
1.321.209.4782
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5045492
Last Updated: 01/23/2021
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