$329,000
Investment Summary
- Monthly Cash Flow
- -$1,899
- Cap Rate
- -0.8%
- Cash-on-Cash Return
- -30.1%
- Debt Coverage Ratio
- -0.13
- Internal Rate of Return (5 years)
- -25.0%
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
VA APPROVED CONDO!!! Step into upscale city living with this beautifully designed 2 bedroom, 2 bathroom condo located in the sought-after Thornton Park district. Perfect for the modern professional, this home features a sleek, open layout with contemporary finishes that balance style and comfort. Enjoy light-filled living spaces, a functional design, and easy access to Lake Eola, trendy restaurants, boutiques, and nightlife. Live where convenience meets sophistication in one of Orlando’s most vibrant neighborhoods. *The condo and building are also wheelchair accessible with 33" doorways and elevators. *The HOA is planning to add improved access to the pool for greater accessibility. The stunning kitchen steals the show with its luxurious design and top-of-the-line features, carefully crafted by a local chef to bring out your inner culinary master. The expansive island is the perfect haven for prepping gourmet meals and hosting dinner parties, while the gleaming granite countertops with a marble finish add a touch of high-end elegance. Tons of modern lighting, from ceiling fixtures to under-cabinet lighting, creates an inviting ambiance that's sure to delight. But the magic doesn't stop there! This cleverly designed condo features a hidden butler's space that can be transformed into a cozy coffee nook or a sneaky appliance hideaway, leaving your guests wowed but not a single appliance in sight. The primary bedroom is a serene retreat, complete with an en-suite bath, ample closet space, and sliding doors that lead out to a spacious balcony. Wake up each morning to the sunshine and fresh air, and enjoy the breathtaking views of the surrounding landscape. The balcony runs the entire length of the condo, with sliding glass doors leading from the living area. Enjoy fireworks, parades, and shuttle launches in privacy from your own balcony. The vibrant and breathtaking colors that paint the sky during sunset and sunrise are truly awe-inspiring. The second bedroom is equally impressive, featuring a walk-in closet that's sure to become your go-to space for getting ready in style. And with laundry facilities just outside the kitchen, doing the daily grind has never been easier! As you step out into the open and airy living space, you'll be swept off your feet by the seamless flow between the kitchen and living room. It's the perfect setup for entertaining friends and family, with plenty of room to mingle and make memories. But let's not forget the best part: this amazing location! You'll never need to leave home, with Publix just a few doors down, a plethora of restaurants, bars, and shops , and a bustling farmers market held every Sunday right across the street. And when you need some exercise, the building's heated salt-water pool and large fitness center, recreation Room – pool table and game tables, meeting room, event space, and sauna. This building is truly incredible. Laundry service in building for when things get too hectic. Rest assured, that all packages are safe and the concierge is always available to sign for deliveries. Adding to your peace of mind, the building features a concierge and 24/7 secure door receptionist to manage guest access. This ensures a welcoming environment while maintaining the security and privacy of residents. Your private parking space comes equipped with storage space above. *Seller is willing to change paint*
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Location
Property Details
Parking
- Description: Assigned, Covered, Electric Vehicle Charging Station(s), On Street
- Details: Assigned, Covered, Electric Vehicle Charging Station(s), On Street, Attached
- Garage Spaces: 1
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 6
- # of Stories: 19
Exterior Features
- Exterior Walls Materials: Brick Veneer
- Foundation: Block
- Roof Material: Concrete
HOA
- Has HOA: Yes
- Association: 530 E Central Condominium Association
- HOA Fee: $1,519/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 252229164001603
- Lot Size: 13663 sqft
Property Information
- Property Type: Condominium
- Style: Contemporary
- Year Built: 1985
Tax Information
- Annual Tax: $5,037
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Orange
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,899
- Cap Rate
- -0.8%
- Cash-on-Cash Return
- -30.1%
- Debt Coverage Ratio
- -0.13
- Internal Rate of Return (5 years)
- -25.0%
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:
| $329,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$263,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $65,800 |
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:
| $9,870 |
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:
| $75,670 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,304 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $252 |
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:
| $1.92 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $263,200 |
|---|---|
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:
| $1,685 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $420 |
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:
| $175 |
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:
| $2,280 |
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:
| $2,500 | $30,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$150 | -$1,800 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,350 | $28,200 |
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. | 17% | -$420 | -$5,037 |
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% | -$175 | -$2,100 |
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% | -$200 | -$2,400 |
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% | -$125 | -$1,500 |
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% | -$125 | -$1,500 |
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. | 61% | -$1,519 | -$18,228 |
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 | 103% | -$2,564 | -$30,765 |
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:
| -$214 | -$2,568 |
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. | -$1,685 | -$20,220 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,899 | $22,788 |