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7758 Groveridge Ct Orlando, FL 32810

3 Beds 2 Baths 1,100 sqft Built 1980

$174,900

List Price

$1,040

$936 - $1.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $159.00
  • 3 Days on Market
  • MLS # : O5904447
  • Updated Date : 11/07/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,100 sqft
  • Baths : 2 full
Listing Agent

National Real Estate Llc

Listing Agent's Description

Newly rehabbed home! Featuring a BRAND NEW ROOF installed this year, FULLY FENCED BACKYARD and SCREEN ENCLOSED PORCH. Each bedroom has a walk in closet and an abundance of NATURAL LIGHT shining in! Fantastic location with no rear neighbors, be sure to see it before it's gone!

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: McNeils Orange Villa

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $59k253k

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

Neighborhood: McNeils Orange Villa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8581712

* 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
 

$157,410$192,390$174,900

PURCHASE PRICE

$936$1,144$1,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,040
EXPENSES Loan Payment -$645
Property Tax -$199
Property Insurance -$102
Property Management Fees -$94
CASH FLOW
$0

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.

$174,900

PROJECTED PRICE

$1,040

PROJECTED RENT

0.59%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k

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$52,099

INVESTMENT

$52,099

Down Payment
$43,725
Rehab Estimate
$5,750
Closing Costs
$2,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$645

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,725
Loan Amount $131,175
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$7,705

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,040

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $847

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$795
1$7952$9003$1,040
$1,040
RENT COMPS ANALYSIS
  • 7758 Groveridge Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,040
    • $0.95
    •  
  • 4016 Castell Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,105 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,105 Sqft ∙ Built 1970
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $795
    • $0.72
    •  
  • 3802 Shady Grove Cir Orlando, FL 2
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1984
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.82
    •  
PROPERTY LISTING DETAILS
Giovanni Fernandez
1.407.297.0123
National Real Estate Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904447
Last Updated: 11/07/2020
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