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7759 Altavan Ave Orlando, FL 32822

4 Beds 2 Baths 1,946 sqft Built 1991

$309,700

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $159.15
  • 6 Days on Market
  • MLS # : O5902204
  • Updated Date : 10/29/2020 at 13:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,946 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Pristine! Turn Key! This 4 bedroom 2 bathroom beauty is certain to please. Besides being meticulously maintained, almost everything has been replaced. Enter and you will notice pride of ownership. Starting with the kitchen: new solid surface counter tops, new kitchen backsplash, new range and range hood, new dishwasher. Then there are new ceiling fans and new lights. In the Master Bathroom: newly renovated shower with modern larger tiles, new granite counter top, new cabinets, new mirrors. New nice looking laminate plank floors in all of the bedrooms. The A/C was replaced about a year ago, too. The trees have all been trimmed, fresh mulch and flowers added for you, the new buyer. The back yard boasts the most beautiful Mango tree that you will ever see in Central Florida...AND it produces the best tasting MANGOES. There is asmall pond behind this home that offers wonderful privacy for those moments when all you want to do is relax on the back porch. The home is convenient to 417, 408 and an easy ride to the space coast and Disney. Shopping is just minutes away, too. Honey You're HOME! Call to schedule your appointment right away.

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: Rio Pinar Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Rio Pinar Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8821712

* 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
 

$278,730$340,670$309,700

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,143
Property Tax -$352
Property Insurance -$152
HOA -$9
Property Management Fees -$144
CASH FLOW
-$200

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.

$309,700

PROJECTED PRICE

$1,600

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 11.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$87,821

INVESTMENT

$87,821

Down Payment
$77,425
Rehab Estimate
$5,750
Closing Costs
$4,646

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,425
Loan Amount $232,275
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,361

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,732

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6753$1,7404$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 7759 Altavan Ave Orlando, FL 1
    • 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1991 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 2064 Ambergris Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1988
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.82
    •  
  • 2010 Gamboge Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1988
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.85
    •  
  • 7816 Shane Ct Orlando, FL 4
    • 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 1994
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 3419 Santa Monica Dr Orlando, FL 5
    • 3 beds 3 baths ∙ 1,938 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,938 Sqft ∙ Built 1995
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
PROPERTY LISTING DETAILS
Janice Dicarlantonio
1.407.830.5779
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902204
Last Updated: 10/29/2020
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