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9276 Cardinal Meadow Trl Orlando, FL 32827

4 Beds 3 Baths 2,411 sqft Built 2006

$369,900

List Price

$2,190

$2K - $2.4K

Rent Est.

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.

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MARKET HIGHLIGHTS

  • 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

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $105k399k

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

Neighborhood: Northlake Park at Lake Nona

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10292542

* 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
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

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
$2,000
1$2,0002$2,1003$2,1904$2,3005$2,395
$2,395
RENT COMPS ANALYSIS
  • 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
Yogi Ganeshram
1.321.217.4220
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5900133
Last Updated: 11/18/2020
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