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9962 Long Bay Dr Orlando, FL 32832

3 Beds 2 Baths 1,844 sqft Built 2004

$325,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $176.25
  • 2 Days on Market
  • MLS # : O5913998
  • Updated Date : 01/02/2021 at 17:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,844 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome Home: Located in the sought after Gated Golf Course Community of Northshore at Lake Hart, this gem of a home is ready for its new owners today! Your new Home Office overlooks the front of the home, and the screened in patio in the back is the perfect place to unwind with a beverage and gaze at Orlando's amazing sunsets. Northshore at Lake Hart sits on the largest lake entirely in Orange County; boating, skiing and fishing year round. The area also boast an abundance of wildlife, walking trails and Moss Park where you can launch your boat, rent a picnic pavilion or go camping. Award winning Lake Nona Schools, easy access to the 417 and all central Florida has to offer, championship golf, USTA and Moss Park are all at your fingertips. Please take the virtual tour, then make your appointment for a private showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Orlando metro employment growth is at 3.5% and predicted to grow at 2.5% in 2019 (USMayors.org, 2018)

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,199
Property Tax -$364
Property Insurance -$146
HOA -$120
Property Management Fees -$129
CASH FLOW
-$228

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.

$325,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.53%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,617

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,724

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,8003$1,8504$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 9962 Long Bay Dr Orlando, FL 1
    • 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.94
    •  
  • 9530 Heron Pointe Dr Orlando, FL 2
    • 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2004
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 9687 Myrtle Creek Ln Orlando, FL 3
    • 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2002
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 9638 Heron Pointe Dr Orlando, FL 4
    • 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2004
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 9724 Myrtle Orlando, FL 5
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2002
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
PROPERTY LISTING DETAILS
Bob Schoneman
1.407.687.1490
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5913998
Last Updated: 01/02/2021
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