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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $153.42
- 36 Days on Market
- MLS # : O5900133
- Updated Date : 11/18/2020 at 16:20
CONSTRUCTION
- Beds : 4
- Floor Size : 2,411 sqft
- Baths : 3 full
Listing Agent
Exp Realty Llc
Listing Agent's Description
Welcome to the Highly Desired Community of Northlake Park in LAKE NONA. Well-maintained One-Story 4 Bedroom 3 Bath Park Square home in the established community of Morningside at Northlake Park in Lake Nona. The interior layout and flow of this home are spectacular. As you enter, you’re greeted with a Formal Dining Room and Formal Living Room. Continue through the hallway and you will find a very inviting Family Room, Café, and Kitchen area, perfect for family gatherings. The kitchen features newer stainless-steel appliances a large eat-in center island with granite countertops, lots of cabinets, and counter space. Very spacious Master bedroom with walk-in closet and master bath featuring double sink vanities, garden tub, walk-in shower water, and linen closet. Located just a short walk to local restaurants, shopping, and a playground. Membership to the YMCA included in the HOA. Northlake Park is minutes from Orlando International Airport, the Florida Turnpike, 528,417, Florida Turnpike, and 408Highways. Close to local shopping, dining, Medical City, and the USTA National Campus.
SEE MORE
- 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: Northlake Park at Lake Nona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northlake Park at Lake Nona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,190 |
| EXPENSES | Loan Payment | -$1,365 |
| Property Tax | -$535 | |
| Property Insurance | -$180 | |
| HOA | -$108 | |
| Property Management Fees | -$197 | |
|
CASH FLOW
-$196
|
||
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.
$369,900
PROJECTED PRICE
$2,190
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.63% |
| Appreciation Year (1-5) | 5.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.99% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$103,774
LOAN DETAILS
$1,365
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $92,475 |
| Loan Amount | $277,425 |
1.67
YEARS SAVED
$4,969
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,190
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$2,182
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
9276 Cardinal Meadow Trl Orlando, FL 3
- 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2006
- Rent
- Rent Per SQFT
- $2,190
- $0.91
-
9576 Piccadilly Sky Way Orlando, FL 1
- 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2006
LEASED 04/02/20- Rent
- Rent Per SQFT
- $2,000
- $0.83
-
9103 Leland Dr #9103 Orlando, FL 2
- 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 2006
LEASED 11/11/19- Rent
- Rent Per SQFT
- $2,100
- $0.85
-
9672 Piccadilly Sky Way Orlando, FL 4
- 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2006
LEASED 07/08/20- Rent
- Rent Per SQFT
- $2,300
- $0.95
-
9516 Piccadilly Sky Way Orlando, FL 5
- 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 2006
LEASED 04/11/20- Rent
- Rent Per SQFT
- $2,395
- $0.99
PROPERTY LISTING DETAILS
1.321.217.4220
Exp Realty Llc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5900133
Last Updated: 11/18/2020
