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8614 Crossbay Dr Orlando, FL 32829

4 Beds 3 Baths 2,150 sqft Built 1988

$325,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $151.16
  • 2 Days on Market
  • MLS # : O5928371
  • Updated Date : 03/07/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,150 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Heritage Realty

Listing Agent's Description

Don't walk! RUN to see this fantastic 4 bedroom 2.5 bathroom home with a HUGE fenced in backyard! The kitchen, master bathroom, and both guest bathrooms were completely remodeled by S and W Kitchens, The roof is less than 2 years old, the windows have been updated. This home is ready to go!

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: Chickasaw Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $105k253k

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

Neighborhood: Chickasaw Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9041712

* 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
Hidden Oaks Elementary School Primary Regular 483 40 6
Odyssey Middle School Middle Regular 912 49 3
Colonial High School High Magnet 3,339 160 4

Hidden Oaks Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 40
6
GreatSchools Rating

Odyssey Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 49
3
GreatSchools Rating

Colonial High School

  • Education Level: High
  • # of students: 3,339
  • # of teachers: 160
4
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,129
Property Tax -$370
Property Insurance -$165
HOA -$8
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.

$325,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 6.8%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$24,837

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,994

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8903$1,9004$1,9985$2,000
$2,000
RENT COMPS ANALYSIS
  • 8614 Crossbay Dr Orlando, FL 3
    • 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 5532 Florence Harbor Dr Orlando, FL 1
    • 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2004
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 8800 Palisades Beach Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2003
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.91
    •  
  • 8337 Westcott Shore Dr Orlando, FL 4
    • 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2002
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,998
    • $0.89
    •  
  • 8711 Hastings Beach Blvd Orlando, FL 5
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2003
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.02
    •  
PROPERTY LISTING DETAILS
Kimberly Adams
1.407.739.2556
Keller Williams Heritage Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5928371
Last Updated: 03/07/2021
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