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8338 Rose Groves Rd Orlando, FL 32818

3 Beds 2 Baths 1,802 sqft Built 1993

$265,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $147.06
  • 2 Days on Market
  • MLS # : O5902362
  • Updated Date : 11/02/2020 at 09:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,802 sqft
  • Baths : 2 full
Listing Agent

Lensz Realty Llc

Listing Agent's Description

Seller Motivated... Nice size 3 bedrooms 2 baths and large patio.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Rose Hill Groves

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k317k

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

Neighborhood: Rose Hill Groves

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10281712

* 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
Cornerstone Charter Academy K-8 Primary Charter 933 52 7
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Cornerstone Charter Academy K-8

  • Education Level: Primary
  • # of students: 933
  • # of teachers: 52
7
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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$978
Property Tax -$302
Property Insurance -$144
HOA -$8
Property Management Fees -$130
CASH FLOW
-$121

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.

$265,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 11.3%
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

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,267

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,442

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,3954$1,4405$1,675
$1,675
RENT COMPS ANALYSIS
  • 8338 Rose Groves Rd Orlando, FL 4
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.80
    •  
  • 8507 White Rd Orlando, FL 1
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1977
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.65
    •  
  • 1508 Vidalia Ct Orlando, FL 2
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1985
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.79
    •  
  • 8061 Windy Hill Way Orlando, FL 3
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1987
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
  • 1064 Petal Ct Orlando, FL 5
    • 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 1985
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.90
    •  
PROPERTY LISTING DETAILS
John Henthorn
1.321.228.3188
Lensz Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902362
Last Updated: 11/02/2020
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