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8806 Scenic Vista Ct Orlando, FL 32818

4 Beds 3 Baths 2,357 sqft Built 1999

$360,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $152.74
  • 5 Days on Market
  • MLS # : O5924395
  • Updated Date : 02/18/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,357 sqft
  • Baths : 3 full
Listing Agent

Re/max Prime Properties

Listing Agent's Description

Great opportunity to own this solid block 4 Bedroom, 3 Bath, 2 Car Garage on a cul-de-sac w/ very low HOA property. This very spacious, open layout home features vaulted ceilings, stainless steel appliances, open kitchen overlooking the family and dining room area. The huge master ensuite features walk-in closet, double vanities with a garden tub and shower stall. Enjoy family time in the fenced-in back yard that has newly installed deck and pavers. Located near major road and highway, shopping, restaurants and much more!

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: Lake Florence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $105k341k

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

Neighborhood: Lake Florence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10281847

* 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
Citrus Elementary School Primary Regular 654 40 5
Ocoee Middle School Middle Regular 1,375 73 3
Ocoee High School High Regular 2,243 106 4

Citrus Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 40
5
GreatSchools Rating

Ocoee Middle School

  • Education Level: Middle
  • # of students: 1,375
  • # of teachers: 73
3
GreatSchools Rating

Ocoee High School

  • Education Level: High
  • # of students: 2,243
  • # of teachers: 106
4
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,250
Property Tax -$410
Property Insurance -$177
HOA -$29
Property Management Fees -$129
CASH FLOW
-$85

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.

$360,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 11.3%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,826

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7703$1,7954$1,8005$1,910
$1,910
RENT COMPS ANALYSIS
  • 8806 Scenic Vista Ct Orlando, FL 5
    • 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.81
    •  
  • 2613 Coventry Ln Ocoee, FL 1
    • 3 beds 3 baths ∙ 2,070 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,070 Sqft ∙ Built 1991
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 8555 White Rose Dr Orlando, FL 2
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1989
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.80
    •  
  • 9161 Pristine Cir Orlando, FL 3
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 1987
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 1254 Red Dandy Dr Orlando, FL 4
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1988
    property image
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
PROPERTY LISTING DETAILS
Milton James
1.407.572.4458
Re/max Prime Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5924395
Last Updated: 02/18/2021
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