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8041 Palm Lake Dr Orlando, FL 32819

3 Beds 3 Baths 1,865 sqft Built 1984

$449,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $240.75
  • 3 Days on Market
  • MLS # : O5912351
  • Updated Date : 12/18/2020 at 20:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,865 sqft
  • Baths : 3 full
Listing Agent

Maingate Real Estate

Listing Agent's Description

Over an ACRE of land in Dr. Phillips. This large wooded lot provides privacy for your new traditional, split-plan home. Easy to maintain Tile flooring in the main living areas, and carpet in each of the 3 bedrooms. Enjoy natural views from the large rear deck. Plus, there's an over-sized 2-car garage for plenty of storage. And be sure to bring your toys, as there is plenty of room for your boat, utility trailer or RV. Reside, Rent, or Rebuild. Don't let this rare opportunity pass you by. Close to Restaurant Row with shopping and dining, highly rated schools, major access roads, Disney/Universal, and more.

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: Palm Lake Manor

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $105k661k

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

Neighborhood: Palm Lake Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10293483

* 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
Palm Lake Elementary School Primary Regular 624 42 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Palm Lake Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 42
8
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
 

$404,100$493,900$449,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,657
Property Tax -$501
Property Insurance -$148
Property Management Fees -$129
CASH FLOW
-$314

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.

$449,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 4.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,735

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,790

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5003$2,1004$2,1205$2,200
$2,200
RENT COMPS ANALYSIS
  • 8041 Palm Lake Dr Orlando, FL 4
    • 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.14
    •  
  • 8013 Laurel Tree Dr Orlando, FL 1
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.78
    •  
  • 8039 Golden Sands Dr Orlando, FL 2
    • 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 6324 Orange Cove Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1983
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.14
    •  
  • 8191 Bluestar Cir Orlando, FL 5
    • 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1986
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.14
    •  
PROPERTY LISTING DETAILS
Susan Schellhammer
1.407.256.7410
Maingate Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5912351
Last Updated: 12/18/2020
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