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734 Lake Biscayne Way Orlando, FL 32824

4 Beds 3 Baths 2,415 sqft Built 1997

$355,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $147.00
  • 8 Days on Market
  • MLS # : O5930967
  • Updated Date : 03/21/2021 at 18:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,415 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Fl Llc

Listing Agent's Description

Come see this lovely 4 bedroom, 2.5 bathroom, two story POOL HOME**WATER VIEW**GATED COMMUNITY** This home has an open floorplan. Stained HARDWOOD FLOORS in living room**MASTER BEDROOM DOWNSTAIRS**Formal living/dining room combo. Kitchen features solid surface counters, breakfast bar and opens to family room. Family room features vaulted ceiling, plant shelf and wood floor with view of pool and pond. Master suite has 2 closets and private bath with dual sinks, decorative tile work, corner garden tub and large step in shower. Upstairs bedrooms feature full bath and flex area. Outdoor living area includes covered lanai and screen enclosed pool overlooking pond. Perfect for entertaining or relaxing and enjoying the beautiful Florida weather! Hidden Lakes Community offers: Pool, cabana, volleyball, basketball & playground, updated a few years ago. Just minutes from the Florida Turnpike, 417, Orlando Int'l Airport with easy access to The Loop, area attractions and amenities. See this home today!

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: Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k308k

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

Neighborhood: Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9921763

* 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
Oakshire Elementary School Primary Regular 619 40 8
Meadow Woods Middle School Middle Regular 1,036 61 3
Cypress Creek High School High Magnet 3,124 148 5

Oakshire Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 40
8
GreatSchools Rating

Meadow Woods Middle School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 61
3
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,124
  • # of teachers: 148
5
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,233
Property Tax -$397
Property Insurance -$180
HOA -$92
Property Management Fees -$129
CASH FLOW
-$61

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.

$355,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 4.1%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$12,618

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,944

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,9704$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 734 Lake Biscayne Way Orlando, FL 3
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.82
    •  
  • 1023 Lake Biscayne Way Orlando, FL 1
    • 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 2000
    property image
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.71
    •  
  • 14925 Wild Wood Lily Ct Orlando, FL 2
    • 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 1993
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 1215 Lake Downey Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 2,228 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,228 Sqft ∙ Built 1979
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 1020 Lake Biscayne Way Orlando, FL 5
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 1999
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
PROPERTY LISTING DETAILS
Harry Kazarian
1.407.272.2067
Fathom Realty Fl Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5930967
Last Updated: 03/21/2021
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