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915 Lilac Trace Ln Orlando, FL 32828

4 Beds 2 Baths 2,317 sqft Built 1999

$364,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $157.10
  • 3 Days on Market
  • MLS # : O5918655
  • Updated Date : 01/29/2021 at 23:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,317 sqft
  • Baths : 2 full
Listing Agent

Tig Realty Llc

Listing Agent's Description

Beautiful 4 bedroom 2 bath home PLUS bonus room located in the desirable community of Cypress Bend. This home feels much bigger than the 2,300 Sq, Ft. on the tax roles! Home is a true three way split plan offering 2 bedrooms by themselves with a bathroom in the middle and then a third bedroom/office in the front by itself. Master bedroom suite located on the other side of the home with a large walk in closet and a bathroom that includes duel vanities with Granite tops and a separate soaker tub and shower. Home has a Brand New Roof and has been renovated with all new paint, fixtures and hardware. New fence installed in the large back area that offers a patio great for BBQ's, backyard fun and Fido (woof)! In addition to the 4 bedrooms the home has a large 2nd floor bonus room with brand new carpet and padding. There are a formal dining and formal living room in addition to the great room area that incorporates separate areas for Kitchen, breakfast nook and family room. Just a perfect floorplan! Home will sell with a home warranty for peace of mind! All that AND Great Schools! Come see it today!

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Waterford Chase Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $105k390k

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

Neighborhood: Waterford Chase Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10292089

* 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
Camelot Elementary School Primary Regular 615 40 7
Discovery Middle School Middle Regular 907 56 5
Timber Creek High School High Regular 3,132 161 8

Camelot Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 40
7
GreatSchools Rating

Discovery Middle School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 56
5
GreatSchools Rating

Timber Creek High School

  • Education Level: High
  • # of students: 3,132
  • # of teachers: 161
8
GreatSchools Rating
 

$327,600$400,400$364,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,264
Property Tax -$414
Property Insurance -$175
HOA -$27
Property Management Fees -$129
CASH FLOW
$1

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.

$364,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.1%
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$0.0$5.0k$10k$15k

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$102,210

INVESTMENT

$102,210

Down Payment
$91,000
Rehab Estimate
$5,750
Closing Costs
$5,460

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,264

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,000
Loan Amount $273,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$20,901

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,912

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9983$2,0004$2,0105$2,095
$2,095
RENT COMPS ANALYSIS
  • 915 Lilac Trace Ln Orlando, FL 4
    • 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.87
    •  
  • 14025 King Sago Ct Orlando, FL 1
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2000
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 1256 Ocklawaha Dr Orlando, FL 2
    • 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2005
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,998
    • $0.80
    •  
  • 13521 Old Dock Road Orlando, FL 3
    • 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2003
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 1104 Seneca Falls Dr Orlando, FL 5
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2001
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.83
    •  
PROPERTY LISTING DETAILS
Kenneth Close
1.561.306.5275
Tig Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5918655
Last Updated: 01/29/2021
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