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8227 Margarita Dr Orlando, FL 32817

3 Beds 3 Baths 2,600 sqft Built 1983

INVESTimate

$399,000

List Price

$2,150

$1,935 - $2,365

Rent Est.

$432,237  ( +8.33%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $153.46
  • 6 Days on Market
  • MLS # : O5886827
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,600 sqft
  • Baths : 2 full , 1 half
Listing Agent

Reo Wholesale Properties Llc

Listing Agent's Description

Beautiful home with open floor plan and wood burning fireplace. Perfect for entertaining family and friends. Updated kitchen with granite counter tops and stainless steel appliances. Brand new wood look tile installed throughout the first floor. This secluded community is quiet and has no HOA. New roof was installed in 2020. New AC units installed in 2019. This home sits on an oversized lot with a large pool and screened in patio. Zoned for Winter Park School districts. Great location, close to 417, UCF and Winter Park. This is the perfect home for a family, don’t miss out on this gem.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Orange Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $105k350k

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

Neighborhood: Orange Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8371888

* 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
Lakemont Elementary School Primary Regular 656 45 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Lakemont Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 45
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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,472
Property Tax -$454
Property Insurance -$192
Property Management Fees -$194
CASH FLOW
-$161

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.

$399,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.33%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,392

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,015
1$2,0152$2,1003$2,1504$2,750
$2,750
RENT COMPS ANALYSIS
  • 8227 Margarita Dr Orlando, 3
    • 3 beds 3 baths ∙ 2,600 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,600 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.83
    •  
  • 3936 Orange Lake Dr Orlando, 1
    • 3 beds 2 baths ∙ 2,309 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,309 Sqft ∙ Built 1980
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,015
    • $0.87
    •  
  • 4594 Whimbrel Pl Winter Park, 2
    • 3 beds 2 baths ∙ 2,303 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,303 Sqft ∙ Built 1988
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
  • 7901 Lake Waunatta Dr Winter Park, 4
    • 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 1979
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.98
    •  
PROPERTY LISTING DETAILS
Robbie Crager
1.787.689.7063
Reo Wholesale Properties Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5886827
Last Updated: 08/22/2020
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