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9923 Surrey Ridge Rd Orlando, FL 32825

3 Beds 3 Baths 1,208 sqft Built 1990

INVESTimate

$249,900

List Price

$1,400

$1,260 - $1,540

Rent Est.

$269,992  ( +8.04%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1990
  • Price/Sqft : $206.87
  • 9 Days on Market
  • MLS # : O5886098
  • Updated Date : 08/25/2020 at 17:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,208 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Agency

Listing Agent's Description

One year home warranty included! Welcome home to this quaint 3 bedroom 2.5 bathroom home in the Surrey Ridge neighborhood of East Orlando. Minutes away from UCF, Valencia, OIA and the 408 this home is very centrally located. Upon entering you're greeted by tall cathedral ceilings and a first floor master bedroom with it's a master bathroom. There's no carpet anywhere in this home! The dining room and kitchen are open with an adorable backsplash. There's a breakfast nook and a half bathroom on the first floor as well. The garage has been converted to small room but can easily be converted back to a one car garage. The laundry room is indoors. The upstairs has two more guest bedrooms and a bathroom. The patio is perfect for entertaining and has been well maintained. Schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Surrey Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $84k331k

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

Neighborhood: Surrey Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8202089

* 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
Cypress Springs Elementary School Primary Regular 758 53 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Cypress Springs Elementary School

  • Education Level: Primary
  • # of students: 758
  • # of teachers: 53
9
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
 

$224,910$274,890$249,900

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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-$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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$922
Property Tax -$284
Property Insurance -$108
HOA -$23
Property Management Fees -$126
CASH FLOW
-$63

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.

$249,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.04%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,362

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
  • $1.16

    LIST RENT PER SQFT
  • $1,084

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0253$1,0504$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 9923 Surrey Ridge Rd Orlando, 4
    • 3 beds 3 baths ∙ 1,208 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,208 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.16
    •  
  • 1215 Creekbottom Cir Orlando, 1
    • 3 beds 2 baths ∙ 1,139 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,139 Sqft ∙ Built 1988
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.88
    •  
  • 1001 Little Creek Rd Orlando, 2
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1994
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.83
    •  
  • 10001 Little Teak St Orlando, 3
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.84
    •  
  • 1764 Lady Slipper Cir Orlando, 5
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1987
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.04
    •  
PROPERTY LISTING DETAILS
Maria Nunez
1.407.782.6512
The Agency
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5886098
Last Updated: 08/25/2020
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