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8268 Carolina Dr Orlando, FL 32819

4 Beds 3 Baths 2,325 sqft Built 1981

$309,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $132.90
  • 3 Days on Market
  • MLS # : O5916636
  • Updated Date : 01/15/2021 at 18:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,325 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lakeside Realty Windermere Inc

Listing Agent's Description

The potential is endless with this 4 bedroom and 3 1/2 bathroom fixer upper! The home sits on an oversized lot with NO HOA and zoned for Grade A schools. When you step inside you will be welcomed by the high ceilings and a rare TWO master suite's with an additional bedroom on each floor. Along with what the home offers, the location couldn't be better with all the shops, recreation and restaurant's near by. It's a great opportunity for investors and won't last long!

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: Hunters Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $105k527k

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

Neighborhood: Hunters Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10293290

* 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
 

$278,100$339,900$309,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,073
Property Tax -$357
Property Insurance -$175
Property Management Fees -$129
CASH FLOW
$756

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.

$309,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.81%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

15.75

YEARS SAVED

$81,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,331

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3003$2,4004$2,4905$2,689
$2,689
RENT COMPS ANALYSIS
  • 8268 Carolina Dr Orlando, FL 4
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.07
    •  
  • 4480 Willow Wind Ct Orlando, FL 1
    • 4 beds 2 baths ∙ 2,411 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,411 Sqft ∙ Built 1987
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.95
    •  
  • 7813 Saranac Ct Orlando, FL 2
    • 4 beds 2 baths ∙ 2,296 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,296 Sqft ∙ Built 1980
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 4547 Winderwood Cir Orlando, FL 3
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1987
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.98
    •  
  • 5433 Rustic Pine Ct Orlando, FL 5
    • 3 beds 2 baths ∙ 2,483 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,483 Sqft ∙ Built 1986
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,689
    • $1.08
    •  
PROPERTY LISTING DETAILS
Sean Hooke
1.603.481.3377
Lakeside Realty Windermere Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916636
Last Updated: 01/15/2021
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