Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7702 Horse Ferry Rd Orlando, FL 32835

4 Beds 3 Baths 2,391 sqft Built 1998

$450,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $188.21
  • 4 Days on Market
  • MLS # : O5906770
  • Updated Date : 11/19/2020 at 18:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,391 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

UPGRADED, Dr Phillips Pool Home in Gated Community of Westminster Landings! Beautiful 4 bedroom 3 bathroom single-story home features an attached 3-car garage, spacious formal living room, dining room, large family room, dedicated laundry room, and kitchen, nestled on a 1/2 acre lot. Elegant details include double tray ceilings, coffered ceilings, stainless steel appliances, and vinyl plank flooring that seamlessly weave throughout the home. An open floor plan and fresh neutral color palette create a light and airy ambiance. All bedrooms and bathrooms conveniently located on main floor! Enjoy a luxurious master suite with a master bath and dual sinks, seamless glass shower, garden-style tub, and spacious owners closet. Westminster Landing is an intimate neighborhood of single-family homes located in the heart of Central Florida fun. The community is surrounded by an array of shopping, retail, and dining opportunities while being conveniently located, just minutes to downtown Orlando, Restaurant Row, I-Drive, Universal Orlando, and the Walt Disney World Resort. Convenient access to major roads and highways provides easy access to experience all Orlando has to offer. 360 Tour: https://www.vr-360-tour.com/e/lvYBdeAATdQ/e?hide_e3play=true&hide_logo=true&hide_nadir=true&hidelive=false

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: Westminster Landing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $105k690k

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

Neighborhood: Westminster Landing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10293171

* 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
Windy Ridge Elementary School Primary Magnet 1,144 80 9
Windy Ridge Elementary School Middle Magnet 1,144 80 9
Cornerstone Charter Academy High School High Charter 372 21 7

Windy Ridge Elementary School

  • Education Level: Primary
  • # of students: 1,144
  • # of teachers: 80
9
GreatSchools Rating

Windy Ridge Elementary School

  • Education Level: Middle
  • # of students: 1,144
  • # of teachers: 80
9
GreatSchools Rating

Cornerstone Charter Academy High School

  • Education Level: High
  • # of students: 372
  • # of teachers: 21
7
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,660
Property Tax -$517
Property Insurance -$179
HOA -$133
Property Management Fees -$213
CASH FLOW
-$333

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.

$450,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 0.5%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,366

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,218

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,3504$2,3705$2,500
$2,500
RENT COMPS ANALYSIS
  • 7702 Horse Ferry Rd Orlando, FL 4
    • 4 beds 3 baths ∙ 2,391 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,391 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.99
    •  
  • 8080 Saint Andrews Cir #5 Orlando, FL 1
    • 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 1996
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.90
    •  
  • 7919 Courtleigh Dr Orlando, FL 2
    • 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 7220 Hawksnest Blvd Orlando, FL 3
    • 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1993
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.96
    •  
  • 2709 Jaffery Dr Orlando, FL 5
    • 4 beds 3 baths ∙ 2,499 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,499 Sqft ∙ Built 1990
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jeffrey Funk, Pa
1.407.285.9672
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906770
Last Updated: 11/19/2020
BESbswy