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7301 Riverside Pl Orlando, FL 32810

4 Beds 2 Baths 1,387 sqft Built 1973

$239,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $172.96
  • 6 Days on Market
  • MLS # : O5916381
  • Updated Date : 01/13/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,387 sqft
  • Baths : 2 full
Listing Agent

La Rosa Realty Cw Properties L

Listing Agent's Description

This is a gorgeous, one story, spacious home, on a nice size lot, in a great neighbor hood.No HOA!! Featuring 3 bedrooms, 2 full bathrooms and a Bonus room. This property has NEW ROOF, new granite counter tops, new porcelain in the master bathroom walls, new porcelain tile floor in living room, bathrooms and hallway; laminate floors on dining room and kitchen, new carpet on bedrooms, new baseboards, new paint inside and outside, new light fixtures, new water heater, brand NEW A/C unit, landscaping and much more. Garage converted to a forth bedroom. Close to I-4, 436, 414 , 434, shopping, restaurants, Altamonte Mall only a mile away from Seminole State College.

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: Forests Park Homes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $63k253k

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

Neighborhood: Forests Park Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8751712

* 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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$833
Property Tax -$273
Property Insurance -$119
Property Management Fees -$129
CASH FLOW
-$4

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.

$239,900

PROJECTED PRICE

$1,350

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 10.6%
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$10k

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$12,188

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,297

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,3003$1,3504$1,3505$1,500
$1,500
RENT COMPS ANALYSIS
  • 7301 Riverside Pl Orlando, FL 4
    • 4 beds 2 baths ∙ 1,387 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,387 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 7917 Plunkett Ave Orlando, FL 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1970
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 6818 Massa Ct #2 Orlando, FL 2
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1981
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.97
    •  
  • 3645 Falling Leaf Ln Orlando, FL 3
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1984
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 8509 Garnet Ave Orlando, FL 5
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1956
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jose Hernandez
1.407.394.9890
La Rosa Realty Cw Properties L
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916381
Last Updated: 01/13/2021
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