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Lot 2 Bagdad Ave Orlando, FL 32833

4 Beds 2 Baths 2,304 sqft Built 2021

$357,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $155.34
  • 55 Days on Market
  • MLS # : O5900463
  • Updated Date : 12/07/2020 at 09:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,304 sqft
  • Baths : 2 full
Listing Agent

Go Realty Llc

Listing Agent's Description

Pre-Construction. To be built. Eastern Homes presents its Canary Model! LARGE QUARTER ACRE LOT located in the desirable Wedgefield Golf Community (optional HOA) and minutes away from Downtown, UCF, Disney and Port Canaveral! As you pull into the driveway you are greeted by an elegant elevation and ENVIABLE CURB APPEAL! This well thought out floor plan features LARGE SPLIT FORMAL AREAS for living and dining, a HUGE FAMILY SPACE and an OPEN FLOOR CONCEPT that comfortably allows for entertaining and everyday living! The SPLIT BEDROOM CONCEPT puts the Master Suite on one side of the home and the secondary rooms on the other! The LOFTY CEILINGS provide an airy feel and the TRIPLE SLIDERS open the home up nicely to the GOLF COURSE VIEW! The Master Suite is HUGE and features an incredibly UPGRADED EN SUITE and WALK IN CLOSET! The kitchen features REAL WOOD CABINETS, LARGE CENTER ISLAND, GRANITE COUNTERS and STAINLESS-STEEL APPLIANCES!

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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: Cape Orl Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k334k

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

Neighborhood: Cape Orl Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10281899

* 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
Cornerstone Charter Academy K-8 Primary Charter 933 52 7
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Cornerstone Charter Academy K-8

  • Education Level: Primary
  • # of students: 933
  • # of teachers: 52
7
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
 

$322,110$393,690$357,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,320
Property Tax -$407
Property Insurance -$174
HOA -$17
Property Management Fees -$129
CASH FLOW
-$387

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$357,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,844

INVESTMENT

$96,844

Down Payment
$89,475
Rehab Estimate
$2,000
Closing Costs
$5,369

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,475
Loan Amount $268,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$972

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,682

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6504$1,6605$1,745
$1,745
RENT COMPS ANALYSIS
  • Lot 2 Bagdad Ave Orlando, FL 4
    • 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.72
    •  
  • 2739 Babbitt Ave Orlando, FL 1
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2007
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
  • 2332 Bagdad Ave #4 Orlando, FL 2
    • 3 beds 2 baths ∙ 2,341 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,341 Sqft ∙ Built 2003
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
  • 3049 Leflore Ln Orlando, FL 3
    • 3 beds 3 baths ∙ 2,328 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,328 Sqft ∙ Built 2005
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 2781 Babbitt Ave Orlando, FL 5
    • 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 2003
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.83
    •  
PROPERTY LISTING DETAILS
Richard Varner
1.407.982.9975
Go Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5900463
Last Updated: 12/07/2020
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