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867 Vista Palma Way Orlando, FL 32825

3 Beds 2 Baths 1,015 sqft Built 1993

$240,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $236.45
  • 3 Days on Market
  • MLS # : O5924563
  • Updated Date : 02/20/2021 at 15:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,015 sqft
  • Baths : 2 full
Listing Agent

Luxe Real Estate Co

Listing Agent's Description

Complete renovation from head to toe!! As your drive up to this beautifully remodeled home, you can see that the driveway and exterior home has been recently painted. NEWER ROOF which was installed in 2018. As you walk up you will be greeted with all NEW doors starting from the exterior front door and all through out the home. As you make your way into the living room, be prepared to be greeted with a gorgeous open floor plan and BRAND NEW kitchen that includes all NEW appliances, including washer and dryer. Complete with NEW AC and NEW Water Heater. As you proceed into the home you will find both bathrooms have been remodeled. As you exit to the back patio you will find your new backyard oasis fenced for your privacy and complete with pavers that have been sealed. No detail was spared in this home. Close to Valencia College, UCF and major shopping areas. This home is move in ready!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Islands of Valencia

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k253k

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

Neighborhood: The Islands of Valencia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7751712

* 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
Union Park Elementary School Primary Regular 488 33 3
Union Park Middle School Middle Regular 873 52 3
University High School High Magnet 3,111 141 5

Union Park Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 33
3
GreatSchools Rating

Union Park Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 52
3
GreatSchools Rating

University High School

  • Education Level: High
  • # of students: 3,111
  • # of teachers: 141
5
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$834
Property Tax -$273
Property Insurance -$97
HOA -$11
Property Management Fees -$129
CASH FLOW
-$103

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.

$240,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$5,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $886

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$9953$1,0754$1,1005$1,240
$1,240
RENT COMPS ANALYSIS
  • 867 Vista Palma Way Orlando, FL 5
    • 3 beds 2 baths ∙ 1,015 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,015 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $1.22
    •  
  • 9387 Dubois Blvd Orlando, FL 1
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1994
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.82
    •  
  • 10441 Bridlewood Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 1,091 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,091 Sqft ∙ Built 1989
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.91
    •  
  • 9286 Spring Vale Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1987
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.89
    •  
  • 10207 Rondell Ct Orlando, FL 4
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1998
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.87
    •  
PROPERTY LISTING DETAILS
Franshely Calero
1.786.472.0738
Luxe Real Estate Co
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5924563
Last Updated: 02/20/2021
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