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8345 Mattituck Cir Orlando, FL 32829

3 Beds 2 Baths 1,674 sqft Built 1981

$274,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $164.22
  • 2 Days on Market
  • MLS # : O5904586
  • Updated Date : 11/08/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,674 sqft
  • Baths : 2 full
Listing Agent

Morris Williams Realty

Listing Agent's Description

DON'T MISS THIS ONE! Private 3/2 home in a rarely available neighborhood in East Orlando. This beautifully well-kept home has been upgraded with top-of-the-line, high-impact, hurricane-resistant windows and doors for the best safety, security, and energy-efficiency money can buy (2018)! The open floor plan provides easy access to the Kitchen, Living Room, Dining Room, and includes a passthrough to the Family Room. The Master Bedroom boasts a walk-in closet and remastered shower with elegant fittings. Two spare Bedrooms feature a space-saving built-in Murphy Bed. The sunken Family Room comes with a solid wood and slate pool table. French doors lead to an oversized newly-screened patio that is perfect for grilling, entertaining, and complete with a full-size refrigerator! New AC (2018)! New fridge (2018)! New electrical (2020)! Updated-to-code plumbing (2011)! New unassembled shed provided! MOVE-IN READY! ACT FAST!

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: Chickasaw Forest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: Chickasaw Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8711712

* 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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,014
Property Tax -$313
Property Insurance -$136
Property Management Fees -$134
CASH FLOW
-$107

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.

$274,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,241

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,180

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,1753$1,1954$1,1955$1,490
$1,490
RENT COMPS ANALYSIS
  • 8345 Mattituck Cir Orlando, FL 5
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.89
    •  
  • 3822 Janie Ct Orlando, FL 1
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1981
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.64
    •  
  • 2485 Island Club Way Orlando, FL 2
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1994
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.69
    •  
  • 2430 Island Club Way Orlando, FL 3
    • 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 2001
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.78
    •  
  • 8910 Havasu Dr Orlando, FL 4
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1978
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.71
    •  
PROPERTY LISTING DETAILS
Mark Kessler, Ii
1.407.761.4558
Morris Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904586
Last Updated: 11/08/2020
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