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7219 Prato Ave Orlando, FL 32819

3 Beds 2 Baths 1,000 sqft Built 1960

$232,100

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $232.10
  • 4 Days on Market
  • MLS # : U8109294
  • Updated Date : 01/08/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,000 sqft
  • Baths : 2 full
Listing Agent

Mymlsbroker.com

Listing Agent's Description

Cozy, updated home; new roof, new ceramic floors throughout, remodeled kitchen, remodeled bathrooms, and central A/C-Heat; washer/dryer hook up; garage; screened Florida room (back porch). Close access to bus lines; near attractions, shopping, and restaurants. In addition, is located in a very quiet neighborhood.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Tangelo Park

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $69k364k

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

Neighborhood: Tangelo Park

ZipNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8952498

* 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
Cornerstone Charter Academy K-8 Primary Charter 933 52 7
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Cornerstone Charter Academy K-8

  • Education Level: Primary
  • # of students: 933
  • # of teachers: 52
7
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
 

$208,890$255,310$232,100

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$806
Property Tax -$260
Property Insurance -$96
Property Management Fees -$129
CASH FLOW
$20

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.

$232,100

PROJECTED PRICE

$1,310

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,257

INVESTMENT

$67,257

Down Payment
$58,025
Rehab Estimate
$5,750
Closing Costs
$3,482

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,025
Loan Amount $174,075
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$13,331

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $1,310

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,3103$1,3954$1,4005$1,500
$1,500
RENT COMPS ANALYSIS
  • 7219 Prato Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.31
    •  
  • 4927 Steyr St Orlando, FL 1
    • 3 beds 1 baths ∙ 840 Sqft ∙ Built 1958 3 beds 1 baths ∙ 840 Sqft ∙ Built 1958
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.18
    •  
  • 4914 Anzio St Orlando, FL 3
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1959
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.40
    •  
  • 5106 Anzio St Orlando, FL 4
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1959
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.40
    •  
  • 4903 Polaris St Orlando, FL 5
    • 4 beds 2 baths ∙ 1,192 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,192 Sqft ∙ Built 1961
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.26
    •  
PROPERTY LISTING DETAILS
Michael Conciatori
1.813.333.5095
Mymlsbroker.com
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8109294
Last Updated: 01/08/2021
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