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8663 Nicolewood Ct Orlando, FL 32836

5 Beds 3 Baths 2,527 sqft Built 1994

$495,000

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $195.88
  • 5 Days on Market
  • MLS # : O5917300
  • Updated Date : 01/22/2021 at 19:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,527 sqft
  • Baths : 3 full
Listing Agent

G World Properties

Listing Agent's Description

Look no further! The only 5 bedroom pool home in 32836 under 500k! Fully renovated 5 bedroom 3 bathroom home in Dr. Phillips. The entire interior of the home has been updated and features: 24x24 reflective ceramic tile throughout common areas, 42 inch kitchen cabinets, stainless steel appliances, granite countertops with waterfall finish, 14 ft tile shower wall in master bedroom with seamless shower door, modern tub, modern light fixtures, plus much more! The home sits on a 0.33 acre lot, featuring a very spacious backyard and a driveway with plenty of parking. The backyard is fully fenced in which gives you privacy and features lots of room for families to enjoy the Florida weather throughout the year. Other features include a 3 car garage and a second floor 5th bedroom / bonus room (with closet) perfect for a man cave or home theater. This home also sits in a cul-de-sac safe for families. Location is key as it is located close to the famous Dr. Phillips restaurant row, major attractions and major highway. Submit your offer today, this house won't last long!

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: Bay Vista Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $105k551k

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

Neighborhood: Bay Vista Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10292750

* 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
 

$445,500$544,500$495,000

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$1,719
Property Tax -$536
Property Insurance -$187
HOA -$33
Property Management Fees -$129
CASH FLOW
$86

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.

$495,000

PROJECTED PRICE

$2,690

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 2.8%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$36,672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,704

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,499
1$2,4992$2,6753$2,6904$2,7505$2,750
$2,750
RENT COMPS ANALYSIS
  • 8663 Nicolewood Ct Orlando, FL 3
    • 5 beds 3 baths ∙ 2,527 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,527 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $1.06
    •  
  • 9767 Bohart Ct #4 Orlando, FL 1
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1992
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.99
    •  
  • 8745 Bristol Park Dr Orlando, FL 2
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 1991
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $1.06
    •  
  • 9123 Phillips Grove Ter Orlando, FL 4
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2000
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.08
    •  
  • 10022 Oakside Ct Orlando, FL 5
    • 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 1997
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.15
    •  
PROPERTY LISTING DETAILS
Jeremy Gomez
1.407.927.5988
G World Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917300
Last Updated: 01/22/2021
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