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8442 Cedar Cove Dr Orlando, FL 32819

3 Beds 2 Baths 2,012 sqft Built 1984

$365,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $181.41
  • 4 Days on Market
  • MLS # : O5916814
  • Updated Date : 01/14/2021 at 11:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,012 sqft
  • Baths : 2 full
Listing Agent

Real Property International

Listing Agent's Description

Wonderful POOL HOME, especially for those who like to entertain. This RENOVATED home in DR PHILLIPS, with EXCELLENT SCHOOLS and NO HOA, showcases a MASSIVE KITCHEN area, WOOD-LIKE TILE FLOORS, EXPANSIVE MASTER BEDROOM, family room with wood burning fireplace and more. The exterior grounds is a canvas to create your own paradise. Owner is relocating and must sell. Hurry up before it's gone! Room measurements are approximate.

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: Orange Bay

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $105k395k

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

Neighborhood: Orange Bay

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10292428

* 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
Dr. Phillips Elementary School Primary Regular 641 43 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Dr. Phillips Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 43
9
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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,268
Property Tax -$417
Property Insurance -$156
Property Management Fees -$129
CASH FLOW
$150

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.

$365,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

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

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$35,294

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,148

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$2,1004$2,1205$2,120
$2,120
RENT COMPS ANALYSIS
  • 8442 Cedar Cove Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.05
    •  
  • 8614 Edge O Woods Ct Orlando, FL 1
    • 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1980
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 5968 Valerian Blvd Orlando, FL 2
    • 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1973
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
  • 6324 Orange Cove Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1983
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.14
    •  
  • 8507 Sunny Hollow Ct Orlando, FL 4
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1980
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.06
    •  
PROPERTY LISTING DETAILS
Irma Yapor
1.407.909.9200
Real Property International
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916814
Last Updated: 01/14/2021
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