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9718 Ethanwood St Orlando, FL 32825

3 Beds 2 Baths 2,398 sqft Built 1985

$349,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $145.91
  • 5 Days on Market
  • MLS # : O5912073
  • Updated Date : 12/26/2020 at 09:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,398 sqft
  • Baths : 2 full
Listing Agent

Olympus Executive Realty Inc

Listing Agent's Description

Spacious 3 bedroom with 2 full bathrooms just remodeled with new flooring, lighting, and kitchen and painted throughout. This house in all about comfort and storage. Lots of space the garage and screened in back porch have been enclosed. Front door and windows, and roof have also been changed in the last few years. The best perk to this beautiful home is the location! Close to the airport, 408,528,& 417. Neighborhood is quiet with no association.

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: Riverwood Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $100k331k

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

Neighborhood: Riverwood Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8702089

* 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
Deerwood Elementary School Primary Regular 442 42 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Deerwood Elementary School

  • Education Level: Primary
  • # of students: 442
  • # of teachers: 42
8
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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,291
Property Tax -$398
Property Insurance -$179
Property Management Fees -$129
CASH FLOW
-$297

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.

$349,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.0%
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$10k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,003

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,906

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,7004$1,8005$2,255
$2,255
RENT COMPS ANALYSIS
  • 9718 Ethanwood St Orlando, FL 3
    • 3 beds 2 baths ∙ 2,398 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,398 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.71
    •  
  • 2566 Greenwillow Dr Orlando, FL 1
    • 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2002
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.62
    •  
  • 10038 Silmarien St Orlando, FL 2
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 10039 Silmarien St Orlando, FL 4
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 2718 Old Redpine Way Orlando, FL 5
    • 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 2002
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,255
    • $0.91
    •  
PROPERTY LISTING DETAILS
Nathaniel Waldrop
1.941.822.4406
Olympus Executive Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5912073
Last Updated: 12/26/2020
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