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7975 Riffle Ln Orlando, FL 32818

4 Beds 3 Baths 2,809 sqft Built 2003

$305,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $108.58
  • 3 Days on Market
  • MLS # : O5919698
  • Updated Date : 01/29/2021 at 11:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,809 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Results Realty

Listing Agent's Description

Driving up to this beautiful home located in Robinson Hills you will first notice the quiet cul-de-sac location, manicured landscaping & newer exterior paint (tan/white, 2019). As you enter the home, you will feel the brand new 5-ton A/C (2020) maintaining your ideal temperature ever so efficiently & as you glance around become aware of the new recessed LED lighting, vaulted ceilings with Plantation shutters & blinds throughout. In the kitchen you will find all stainless-steel appliances (<9 months old), beautiful cherry wood cabinets with a built-in wine rack, a stainless-steel ceiling pot rack, & a large walk-in pantry. Moving through the rest of the home you will notice many other quality details such as the custom built-ins in the master bedroom closet with new wood-laminate finish on the staircase. The second story features 3 bedrooms, a full bath, and a large open loft with walk-in closet for extra storage. BUT WAIT THERE IS MORE. Out back you will be able to enjoy your massive backyard & Arrowhead Weatherproof Storage shed with privacy from the new white PVC fence (2019), protection from the motion sensor flood lights, and easily maintain your green space using the digitally timed irrigation system. Seller is also offering a one year Home Warranty.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Robinson Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $105k281k

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

Neighborhood: Robinson Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10031712

* 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
Lake Gem Elementary School Primary Regular 901 58 3
Robinswood Middle School Middle Magnet 1,232 71 2
Evans High School High Magnet 2,355 117 3

Lake Gem Elementary School

  • Education Level: Primary
  • # of students: 901
  • # of teachers: 58
3
GreatSchools Rating

Robinswood Middle School

  • Education Level: Middle
  • # of students: 1,232
  • # of teachers: 71
2
GreatSchools Rating

Evans High School

  • Education Level: High
  • # of students: 2,355
  • # of teachers: 117
3
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,059
Property Tax -$367
Property Insurance -$204
HOA -$33
Property Management Fees -$129
CASH FLOW
-$153

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.

$305,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 11.4%
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

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,171

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,819

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6503$1,7504$1,8655$1,950
$1,950
RENT COMPS ANALYSIS
  • 7975 Riffle Ln Orlando, FL 1
    • 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.58
    •  
  • 2390 Anacostia Ave Ocoee, FL 2
    • 5 beds 3 baths ∙ 2,925 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,925 Sqft ∙ Built 2007
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.56
    •  
  • 7346 Woodworth Way #5 Orlando, FL 3
    • 4 beds 2 baths ∙ 2,723 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,723 Sqft ∙ Built 1992
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.64
    •  
  • 7322 Rex Hill Trl #5 Orlando, FL 4
    • 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 2005
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.65
    •  
  • 5244 Labrador Ln Orlando, FL 5
    • 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 1995
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
PROPERTY LISTING DETAILS
Joseph Doher
1.407.203.0007
Bhhs Results Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5919698
Last Updated: 01/29/2021
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