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9941 Surrey Ridge Rd Orlando, FL 32825

3 Beds 2 Baths 1,202 sqft Built 1988

$250,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $207.99
  • 3 Days on Market
  • MLS # : O5904287
  • Updated Date : 11/07/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,202 sqft
  • Baths : 2 full
Listing Agent

Robert Slack Llc

Listing Agent's Description

Curb appeal plus more pulls you into this home right away!!! Open the door and you’ll find yourself in a very inviting space with open floor plan and high ceilings where you will make new memories with friends & family. Continue to the kitchen where you’ll find it is fully upgraded with new cabinets and granite countertops. Picture window in the kitchen provides tons of natural light and a place to grow herbs & plants. The outside calls you as you step out into the huge 24x12 wooden deck and fully fenced back yard, perfect for family BBQs. Continue to the rest of the house where you’ll see plenty of space and natural light. Don’t worry about the roof, it was replaced in July 2020, water heater replaced Sept 2020. The location is ideal with easy access to major highways (417 & 408), close to the Waterford Lakes shopping/dining area and hospital.

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: 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$922
Property Tax -$284
Property Insurance -$108
Property Management Fees -$127
CASH FLOW
-$31

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.

$250,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

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 $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$11,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,079

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0253$1,0504$1,4105$1,450
$1,450
RENT COMPS ANALYSIS
  • 9941 Surrey Ridge Rd Orlando, FL 4
    • 3 beds 2 baths ∙ 1,202 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,202 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.17
    •  
  • 1215 Creekbottom Cir Orlando, FL 1
    • 3 beds 2 baths ∙ 1,139 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,139 Sqft ∙ Built 1988
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.88
    •  
  • 1001 Little Creek Rd Orlando, FL 2
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1994
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.83
    •  
  • 10001 Little Teak St Orlando, FL 3
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1990
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.84
    •  
  • 1764 Lady Slipper Cir Orlando, FL 5
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1987
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.04
    •  
PROPERTY LISTING DETAILS
Sunny Arriaga
1.407.990.3840
Robert Slack Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904287
Last Updated: 11/07/2020
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