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9516 9th Ave Orlando, FL 32824

3 Beds 2 Baths 1,134 sqft Built 2007

$225,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $199.21
  • 3 Days on Market
  • MLS # : T3273836
  • Updated Date : 11/01/2020 at 20:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,134 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

LOCATION LOCATION LOCATION! This quiet little neighborhood with no HOA is conveniently located minutes from major attractions, shopping, restaurants, and entertainment. Less than 15 minutes to Walt Disney World and Orlando International Airport! You're nestled between the 528 and 417 with easy access to Florida Turnpike, so Theme Parks, the Medical Village, Florida Mall and downtown Orlando are just minutes away. Don't miss this charming 3 bedroom, 2 bath home! Greet guests in your foyer and welcome them into your great room accented with plant shelves and vaulted ceilings. Gather at your breakfast bar opening to your spacious kitchen. Your bay window breakfast nook offers the perfect spot to serve up a feast, or just enjoy your morning coffee. Sliding glass door in kitchen gives access to outdoor patio for easy grilling. Large master suite. Master bath features corner soaking tub, twin sinks, and separate step in shower. Two car garage with opener. Tile and wood laminate in all living areas and carpet in bedroom. Septic sump pump recently replaced. HOME WARRANTY is included! Check it out today. This won’t last long! All information recorded in the MLS is intended to be accurate but cannot be guaranteed, buyer advised to verify. If exact square footage or room sizes are a concern, unit should be independently measured.

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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: Taft

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $56k253k

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

Neighborhood: Taft

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7731712

* 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
 

$203,310$248,490$225,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$833
Property Tax -$253
Property Insurance -$104
Property Management Fees -$126
CASH FLOW
$84

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.

$225,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,614

INVESTMENT

$65,614

Down Payment
$56,475
Rehab Estimate
$5,750
Closing Costs
$3,389

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,475
Loan Amount $169,425
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,400
$1,400
RENT COMPS ANALYSIS
  • 9516 9th Ave Orlando, FL
    • 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.23
    •  
PROPERTY LISTING DETAILS
Peter Furgus
1.813.591.3040
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273836
Last Updated: 11/01/2020
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