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7560 Azalea Cove Cir Orlando, FL 32807

4 Beds 4 Baths 2,293 sqft Built 2013

$370,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $161.36
  • 5 Days on Market
  • MLS # : O5902804
  • Updated Date : 10/31/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,293 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Carioti

Listing Agent's Description

Enjoy Great Neighborhood style living in sought after Azalea Cove Estate. As you walk in you are welcomed with the office which can be used as a 5th bedroom. Open floor plan with Family room, open kitchen with large center island and stainless steel appliances, Large pantry, and spacious laundry room. Spacious master is downstairs, with spacious closets. Upstairs has the other 3 bedrooms with 2 bathrooms. Screened in patio, with another covered area, and fenced, this home shows well and priced for a quick sale, call for a showing.

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: Gatehouse Club Condominiums

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $69k304k

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

Neighborhood: Gatehouse Club Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8951845

* 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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,365
Property Tax -$442
Property Insurance -$173
HOA -$33
Property Management Fees -$186
CASH FLOW
-$129

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.

$370,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 12.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,880

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,0503$2,070
$2,070
RENT COMPS ANALYSIS
  • 7560 Azalea Cove Cir Orlando, FL 3
    • 4 beds 4 baths ∙ 2,293 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,293 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.90
    •  
  • 7906 Napoleon St Orlando, FL 1
    • 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 2016
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 7613 Bear Claw Run Orlando, FL 2
    • 4 beds 4 baths ∙ 2,518 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,518 Sqft ∙ Built 2006
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.81
    •  
PROPERTY LISTING DETAILS
Faneeza Mohamed
1.321.438.7843
Century 21 Carioti
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902804
Last Updated: 10/31/2020
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