$699,500
Investment Summary
- Monthly Cash Flow
- -$1,593
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -11.9%
- Debt Coverage Ratio
- 0.56
- Internal Rate of Return (5 years)
- -7.5%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
This beautifully updated 3-bedroom, 2-bath home with an additional office, bonus nook, and detached two-car garage is located in the heart of the Lake Eola Heights Historic District, just a short walk to Lake Eola Park, Eola General, Sparrow Wine Bar and Lounge, and many of Orlando’s best restaurants and shops. Step inside to soaring ceilings, elegant crown molding, and light-filled rooms that highlight both the home’s historic character and its modern updates. The kitchen is a true centerpiece with quartz countertops, 42” solid wood cabinetry with crown molding, Café appliances—including a gas range with vent hood—custom tile backsplash and a dinette area. Just off the kitchen, you’ll find the perfect space for an office or home gym. An indoor utility room with a butler’s pantry and wine refrigerator adds even more function and storage. Entertain effortlessly with a dining room located just off the kitchen and a spacious living room featuring a cozy gas fireplace. The downstairs primary suite offers a serene retreat with a large walk-in closet and a beautifully updated bathroom, complete with custom tile, glass shower enclosure and a marble-topped vanity. Upstairs, two additional bedrooms share an upgraded full bath, while a charming bonus nook provides the perfect spot for a playroom, reading area, or meditation space. Outside, the fully fenced backyard is designed for entertaining, with gorgeous pavers and three distinct areas for dining, relaxing, or gathering with friends and family. Gated access from the driveway leads to the rare detached two-car garage, offering both parking and extra storage. The property is also zoned for two residences, so the garage can be converted to a two-story residential building, offering many options! With a new roof in 2019, new HVACs in 2018 and 2024, a tankless gas water heater, plantation shutters on most downstairs windows and custom shades in the kitchen, encapsulated and sealed crawlspace with a dehumidifier, upgraded landscaping and MORE! You’re located just a short walk to Lake Eola Park, the local neighborhood favorite, Eola General, and the Lake Eola Heights Community Garden. This welcoming community features neighborhood happy hours, and annual events like the Community Garden Harvest Pot Luck Dinner and National Night Out. Experience the downtown lifestyle in this incredible home! Call for your showing today!
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Location
Property Details
Parking
- Description: Garage Door Opener
- Details: Driveway, Garage Door Opener, Garage Faces Rear
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 10
- # of Stories: 2
- Basement Description: Crawl Space
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Roof Type: Gable or Hip
- Roof Material: Shingle
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 252229000000005
- Lot Size: 6809 sqft
Property Information
- Property Type: Single Family Residence
- Style: Bungalow
- Year Built: 1926
Tax Information
- Annual Tax: $5,104
Utilities
- Water & Sewer: Public
- Heating: Central, Natural Gas
- Cooling: Central Air
Location
- County: Orange
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,593
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -11.9%
- Debt Coverage Ratio
- 0.56
- Internal Rate of Return (5 years)
- -7.5%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $699,500 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$559,600 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $139,900 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $20,985 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $160,885 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,560 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $448 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $2.24 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $559,600 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 6.625% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $3,583 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $425 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $245 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $4,253 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $3,500 | $42,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$210 | -$2,520 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,290 | $39,480 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 12% | -$425 | -$5,104 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$245 | -$2,940 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$280 | -$3,360 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$175 | -$2,100 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$175 | -$2,100 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | n/a | n/a | n/a |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 37% | -$1,300 | -$15,604 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $1,990 | $23,880 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$3,583 | -$42,996 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,593 | $19,116 |