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8611 Sugar Palm Ct Orlando, FL 32835

3 Beds 2 Baths 2,020 sqft Built 1992

INVESTimate

$349,900

List Price

$1,970

$1,773 - $2,167

Rent Est.

$369,354  ( +5.56%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $173.22
  • 6 Days on Market
  • MLS # : O5886870
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,020 sqft
  • Baths : 2 full
Listing Agent

Corcoran Premier Realty

Listing Agent's Description

This beautifully updated and renovated home is situated in the heart of what makes Central Florida life so great. The peaceful and quiet neighborhood is just a 20 minute easy drive to Walt Disney World, only 10 minutes from Universal, and near all the ample dining and entertainment surrounding the parks. More of the Florida lifestyle is accessible with the east coast beaches a 60 minute drive and Orlando International airport and downtown Orlando both less than 25 minutes away. Many of the amenities in this home must be seen to be appreciated - ceramic and high-end laminate throughout, granite countertops, kitchen cabinets painted in the full remodel, designer lighting, professional landscaping with updated irrigation, ceiling fans in each room, and fresh paint inside as well as out. To make this home truly move-in ready, the owners replaced the HVAC system, septic tanks and plumbing components. All that needs to be done is enjoying the 3 bedrooms plus home office AND fully air conditioned lanai with water views. It just doesn't get more perfect for living the Florida dream.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Palm Cove Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $105k428k

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

Neighborhood: Palm Cove Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10292555

* 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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,291
Property Tax -$418
Property Insurance -$157
HOA -$29
Property Management Fees -$177
CASH FLOW
-$102

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.

$349,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.56%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$10,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,773

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6753$1,8004$1,8005$1,970
$1,970
RENT COMPS ANALYSIS
  • 8611 Sugar Palm Ct Orlando, 5
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.98
    •  
  • 658 Rosegate Ln Orlando, 1
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1986
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 8019 Bridgestone Dr Orlando, 2
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1991
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.89
    •  
  • 707 Rosemere Cir Orlando, 3
    • 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 8501 Steer Lake Rd Orlando, 4
    • 3 beds 2 baths ∙ 2,058 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,058 Sqft ∙ Built 1984
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
PROPERTY LISTING DETAILS
Chocky Burks
1.407.493.2748
Corcoran Premier Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5886870
Last Updated: 08/22/2020
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