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857 Ferry Landing Ln Orlando, FL 32828

3 Beds 2 Baths 1,562 sqft Built 1992

$272,500

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $174.46
  • 4 Days on Market
  • MLS # : O5917793
  • Updated Date : 01/22/2021 at 11:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,562 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Advantage Realty

Listing Agent's Description

Warm and contemporary 3 bed 2 bath home in quiet, serene Orlando neighborhood of Huckleberry Fields. Just through the front door awaits a versatile living/dining space perfect for entertaining. Past that awaits kitchen with breakfast bar and matching stainless steel appliances. Kitchen boasts a built in pantry. Behind the kitchen is a spacious family room that leads to the backyard through a fully screened back porch. High ceilings throughout home. Backyard is fully fenced and well landscaped. Located conveniently near the Waterford shopping center and major roadways. Come home to your peaceful personal retreat in busy Orlando today.

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: Huckleberry Fields

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k331k

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

Neighborhood: Huckleberry Fields

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9862089

* 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
Timber Creek High School High Regular 3,132 161 8

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

Timber Creek High School

  • Education Level: High
  • # of students: 3,132
  • # of teachers: 161
8
GreatSchools Rating
 

$245,250$299,750$272,500

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$947
Property Tax -$310
Property Insurance -$129
HOA -$85
Property Management Fees -$129
CASH FLOW
$100

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.

$272,500

PROJECTED PRICE

$1,700

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$77,963

INVESTMENT

$77,963

Down Payment
$68,125
Rehab Estimate
$5,750
Closing Costs
$4,088

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$947

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,125
Loan Amount $204,375
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$24,063

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,542

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6964$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 857 Ferry Landing Ln Orlando, FL 5
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.09
    •  
  • 13533 Waterhouse Way Orlando, FL 1
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1998
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 13005 Cog Hill Way Orlando, FL 2
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1993
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 107 Razorbill Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1995
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,696
    • $0.97
    •  
  • 13541 Waterhouse Way Orlando, FL 4
    • 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 1996
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.98
    •  
PROPERTY LISTING DETAILS
Barrett Spray
1.407.978.4326
Keller Williams Advantage Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917793
Last Updated: 01/22/2021
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