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9814 Heron Pointe Dr Orlando, FL 32832

4 Beds 3 Baths 2,628 sqft Built 2005

$385,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $146.50
  • 4 Days on Market
  • MLS # : O5903870
  • Updated Date : 11/06/2020 at 08:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,628 sqft
  • Baths : 2 full , 1 half
Listing Agent

Waypointe Realty

Listing Agent's Description

What could be better than coming home and settling into a sunset view of Lake Nona’s North Shore Golf Club? This 2,628-square-foot, two-story house in gated Heron Pointe in North Shore At Lake Hart has all the amenities of home sweet home on a meticulous westward lot. Under the one-year-old roof are 4 bedrooms, 2.5 baths, and a combined formal living room/dining room combination that showcases a cozy niche perfect for mulling over morning coffee as the morning sun comes marching in. A tastefully appointed gourmet kitchen features ample cherry cabinets – including four glass-front cabinets for showing off prized plates and possessions – sleek granite countertops, a central island and a tiered peninsula that encourages stool sitting. The main-floor bedroom easily melds into an office that will keep home and work running in perfect rhythm. A pretty stairway draws attention upward to the master suite – boasting a walk-in closet that is big enough to shelter even two full-size dressers – two ample-sized bedrooms and a full bath. The home’s fenced backyard hugs the 5th hole of the 18-hole North Shore course. North shore residents also come home to a pool, baseball field, basketball and tennis courts, play areas and a viewing dock on Lake Hart. Quick access to SR 417 and SR 528 gives homeowners an easy ride to Orlando International Airport, soon-to-be-opened UCF Lake Nona Medical Center, and sought-after shopping and dining experiences. Features include: NEW ROOF (2019), brand new ADT security system, and Ring doorbell & thermostat. Washer & dryer convey with the property.

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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: North Shore at Lake Hart

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $105k434k

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

Neighborhood: North Shore at Lake Hart

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10292305

* 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
Moss Park Elementary School Primary Regular 1,318 96 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Moss Park Elementary School

  • Education Level: Primary
  • # of students: 1,318
  • # of teachers: 96
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
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,420
Property Tax -$431
Property Insurance -$193
HOA -$105
Property Management Fees -$189
CASH FLOW
-$238

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.

$385,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 4.8%
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-$8.0k-$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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,513

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,221

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,2504$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 9814 Heron Pointe Dr Orlando, FL 2
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.80
    •  
  • 11451 Great Commission Way Orlando, FL 1
    • 4 beds 4 baths ∙ 2,541 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,541 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 11342 Great Commission Way Orlando, FL 3
    • 4 beds 4 baths ∙ 2,824 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,824 Sqft ∙ Built 2007
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 10108 Marsh Pine Cir Orlando, FL 4
    • 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 2002
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.86
    •  
  • 9542 Heron Pointe Dr Orlando, FL 5
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2004
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
PROPERTY LISTING DETAILS
Marcie Gumieny
1.407.466.2103
Waypointe Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5903870
Last Updated: 11/06/2020
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