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704 Saxby Ave Orlando, FL 32835

3 Beds 2 Baths 1,597 sqft Built 1978

$350,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $219.16
  • 2 Days on Market
  • MLS # : O5926623
  • Updated Date : 03/06/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,597 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Orlando

Listing Agent's Description

Corner home with lots of land! Quiet, woodsy community tucked away from main road and near lake, close to 408 and other major highways and stores. Photos show a partially furnished unit - unit is unfurnished. New paint inside and outside,renovated kitchen and both batrooms,new floors in all rooms, new appliances ,new roof.

SEE MORE

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 Hiawassa Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $105k354k

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

Neighborhood: Lake Hiawassa Terrace

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
Oak Hill Elementary School Primary Regular 485 35 3
Gotha Middle School Middle Regular 1,272 67 3
Olympia High School High Regular 2,990 134 7

Oak Hill Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 35
3
GreatSchools Rating

Gotha Middle School

  • Education Level: Middle
  • # of students: 1,272
  • # of teachers: 67
3
GreatSchools Rating

Olympia High School

  • Education Level: High
  • # of students: 2,990
  • # of teachers: 134
7
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,216
Property Tax -$398
Property Insurance -$131
Property Management Fees -$129
CASH FLOW
-$184

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.

$350,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.6%
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-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$7,895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,737

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6903$1,7004$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 704 Saxby Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.06
    •  
  • 7223 Seamans Blf Orlando, FL 1
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1982
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.04
    •  
  • 6540 Abercrombie Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1989
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.10
    •  
  • 6434 Haughton Ln Orlando, FL 4
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1989
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.08
    •  
  • 506 Harbor Point Blvd Orlando, FL 5
    • 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1981
    property image
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.13
    •  
PROPERTY LISTING DETAILS
Sandra Boirie
1.386.627.3259
Charles Rutenberg Realty Orlando
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5926623
Last Updated: 03/06/2021
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