Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8843 Ribault Ave Orlando, FL 32832

4 Beds 4 Baths 2,452 sqft Built 2013

$405,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2013
  • Price/Sqft : $165.17
  • 31 Days on Market
  • MLS # : O5898244
  • Updated Date : 11/07/2020 at 09:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,452 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ameriteam Realty Inc

Listing Agent's Description

Move in ready! Corner lot home featuring 4 bedrooms, 3 and a half bathrooms, located in the clean and quiet community of Randal Park. Master bedroom located on the first floor in addition to a guest bath. Secondary master bedroom on second floor. Ideal floor plan for just about anything you can think of! Granite countertops throughout. In addition to granite, the kitchen features beautiful espresso cabinets and island ideal for entertaining just across from living room. Randal Park amenities include parks, community center, resort pool, splash pad, playgrounds, fitness center, and biking/hiking trails. Located right off 528 and 417 makes for convenient commuting to anywhere in Central Florida. Minutes to Medical City, USTA, VA, restaurants and tons more. Book your private showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Randall Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $105k429k

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

Neighborhood: Randall Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10292508

* 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
 

$364,500$445,500$405,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,494
Property Tax -$687
Property Insurance -$183
HOA -$6
Property Management Fees -$206
CASH FLOW
-$286

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.

$405,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,867

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,299

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2903$2,3754$2,4505$2,450
$2,450
RENT COMPS ANALYSIS
  • 8843 Ribault Ave Orlando, FL 2
    • 4 beds 4 baths ∙ 2,452 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,452 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.93
    •  
  • 9806 Caroline Park Dr Orlando, FL 1
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2006
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 8230 Corkfield Ave Orlando, FL 3
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2017
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.97
    •  
  • 8883 Randal Park Blvd Orlando, FL 4
    • 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2012
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.98
    •  
  • 9767 Old Patina Way Orlando, FL 5
    • 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.98
    •  
PROPERTY LISTING DETAILS
Nicholas Siebern
1.407.730.1717
Ameriteam Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5898244
Last Updated: 11/07/2020
BESbswy