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PROPERTY INFO
FACTS
- Single Family
- Built In 2000
- Price/Sqft : $179.18
- 5 Days on Market
- MLS # : O5913961
- Updated Date : 01/08/2021 at 14:15
CONSTRUCTION
- Beds : 4
- Floor Size : 2,344 sqft
- Baths : 3 full
Listing Agent
Premier Sothebys Int'l Realty
Listing Agent's Description
Near-immediate occupancy can be yours in this well-maintained charmer in the wonderful community of Lake Speer Pointe – a total of 74 well-maintained properties. Great location and yet close to shopping in several directions. This pristine home has just been painted both interior and exterior, plus the roof is just about one year old. You will love the floor plan and the backyard with no rear neighbors – and there is plenty of room for a pool if you want one installed later. Easy viewings. Don’t hesitate as this beauty will not last long.
SEE MORE
- 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: Lake Steer Pointe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake Steer Pointe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,150 |
| EXPENSES | Loan Payment | -$1,459 |
| Property Tax | -$502 | |
| Property Insurance | -$176 | |
| HOA | -$58 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$173
|
||
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.
$420,000
PROJECTED PRICE
$2,150
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.63% |
| Appreciation Year (1-5) | 5.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.99% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$117,050
LOAN DETAILS
$1,459
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $105,000 |
| Loan Amount | $315,000 |
3.25
YEARS SAVED
$11,250
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 -
$0.92
LIST RENT PER SQFT
-
$2,151
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 05/12/20- Rent
- Rent Per SQFT
- $2,400
- $0.97
PROPERTY LISTING DETAILS
1.407.408.2242
Premier Sothebys Int'l Realty
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5913961
Last Updated: 01/08/2021
