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$669,000

For Sale - Active
353 Pine Tree Rd, Lake Mary, FL 32746
4 Beds
3 Baths
1,996 Square Feet
1.00 Acres Lot
Built in 1964
For Sale - Active
Units n/a
Checked: 2 hours ago
Updated: Sep 06, 2025 at 11:06PM

Investment Summary


Monthly Cash Flow
-$2,005
Cap Rate
2.6%
Cash-on-Cash Return
-15.6%
Debt Coverage Ratio
0.41
Internal Rate of Return (5 years)
-11.1%

Property Description


1.00 Acres Lot
Built in 1964
For Sale - Active
Units n/a

Discover this charming custom home nestled in the peaceful and highly desirable Lake Mary community, offering the rare benefit of no HOA fees. Built in the 1960s, this inviting two-story residence features four spacious bedrooms and three full bathrooms, providing plenty of room for family and guests. Inside, you'll find thoughtfully designed built-in cabinets for ample storage, along with a versatile den or office space—ideal for working from home or unwinding. Warm and welcoming hardwood floors, vintage holdouts, entertaining galore! The recently renewed kitchen showcases beautiful butcher block countertops, seamlessly combining functionality with rustic charm. Step outside to enjoy the oversized backyard pool, perfect for summer days and relaxing evenings. Sitting on a generous one-acre lot, there's plenty of space for outdoor activities, gardening, or simply enjoying the tranquility of the surroundings. Additional highlights include a separate two-car garage and a flexible upstairs bonus room, offering extra space for hobbies or a home office. This home blends artistic touches with modern conveniences, creating a warm and inviting atmosphere for your next chapter.

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Location


Property Details


Parking

  • Description: Driveway, Garage Door Opener
  • Details: Driveway, Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 12
  • # of Stories: 1
  • Basement Description: Crawl Space
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Concrete Block
  • Roof Type: Shed
  • Roof Material: Built-Up, Other
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 1520305UE00000340
  • Lot Size: 43560 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1964

Tax Information

  • Annual Tax: $4,467

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air

Location

  • County: Seminole

Listing Details


Listed by:
Danielle Evrley
KORR REALTY CORP
(910) 470-8389

Source:
Stellar MLS
MLS#: O6323755
Stellar MLS

Investment Summary


Monthly Cash Flow
-$2,005
Cap Rate
2.6%
Cash-on-Cash Return
-15.6%
Debt Coverage Ratio
0.41
Internal Rate of Return (5 years)
-11.1%

Purchase Details

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Purchase price:
$669,000
Amount financed:
-$535,200
Down payment:
$133,800
Closing costs:
$20,070
Rehab costs:
$0
Initial cash invested:
$153,870
Square feet:
1,996
Cost per square foot:
$335
Monthly rent per square foot:
$1.30

Financing Details

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Loan amount:
$535,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$3,427
Property tax:
$372
Insurance:
$182
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,981

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,600 $31,200
Vacancy loss: (6%)
6% -$156 -$1,872
Operating income:
$2,444 $29,328

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$372-$4,468
Insurance: (7%)
7%-$182-$2,184
Property management: (8%)
8%-$208-$2,496
Repairs & maintenance: (5%)
5%-$130-$1,560
Capital expenditures: (5%)
5%-$130-$1,560
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (39%)
39%-$1,022-$12,268

Cash Flow


Monthly Yearly
Net operating income:
$1,422 $17,064
Mortgage payments:
-$3,427 -$41,124
Cash flow:
$2,005 $24,060