Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1001 Ginger Spice Ln Ocoee, FL 34761

3 Beds 2 Baths 2,160 sqft Built 1996

$333,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $154.17
  • 4 Days on Market
  • MLS # : O5916713
  • Updated Date : 01/16/2021 at 21:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,160 sqft
  • Baths : 2 full
Listing Agent

La Rosa Realty, Llc

Listing Agent's Description

MULTIPLE OFFER HIGHEST AND BEST BY 3:00 1/17/21. LOCATION LOCATION LOCATION your search is over this is a MUST SEE MOVE IN READY HOME!!! Conveniently located to the west orange trail, Historic Winter Garden, shopping, restaurants, supermarkets, SR 408 and 429, Florida Turnpike and ALL of Orlando popular attractions. DON'T MISS your chance to own this large 3/2 almost 2200 sqft home in the sought after family friendly HAMMOCKS Community with LOW HOA. This home sits on a BIG fully fenced in CORNER LOT. This home has a NEW ROOF and is also being offered with a 1 YEAR HOME WARRANTY. You walk in to high ceilings beautiful NEW laminate floors through out. NEW stainless steal appliances. Landry room with Utility sink and NEW washer and dyer INCLUDED. The open concept kitchen to family room is perfect for entertaining family and friends. The large Master suite has a glass siding door that leads to the back covered patio. Features a beautiful tray ceiling 2 walk in closets, 2 separate vanities, stand up shower and a jacuzzi tub perfect for soaking and relaxing in. The nice split floor plans allows for the master suite to have it's privacy. The 2 additional bedrooms are spacious and have new carpets. One of the bedrooms features a nice size walk in closet and also has direct access to the bathroom. The bathroom has double sink a standup shower and a door that accesses the back yard. Already perfectly setup for a pool. The real wood burning fire place in the family room gives the rooms a cozy feel and is perfect for those cool Florida winter nights. The 2 glass sliding doors that lead to the back cover patio allow for a lot of natural sun light. We can't forget about the EXTRA LARGE garage that features extra storage. *PLUS THE BONUS* if you buy this house the sellers are offering a $3,000 CREDIT!!! What can I say it can't get any better! HURRY this one won't last, Schedule your showing TODAY don't miss the opportunity to make this your HOME SWEET HOME!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Hammocks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k366k

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

Neighborhood: Hammocks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9362216

* 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
 

$299,700$366,300$333,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,157
Property Tax -$421
Property Insurance -$165
HOA -$52
Property Management Fees -$129
CASH FLOW
-$244

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.

$333,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,995

INVESTMENT

$93,995

Down Payment
$83,250
Rehab Estimate
$5,750
Closing Costs
$4,995

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,157

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,250
Loan Amount $249,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,547

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,733

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6803$1,7954$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 1001 Ginger Spice Ln Ocoee, FL 2
    • 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.78
    •  
  • 816 Kazaros Cir Ocoee, FL 1
    • 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2006
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.69
    •  
  • 9161 Pristine Cir Orlando, FL 3
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 1987
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 916 Hire Cir Ocoee, FL 4
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2006
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 3914 Shadowind Way Gotha, FL 5
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2001
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.84
    •  
PROPERTY LISTING DETAILS
Danitza Mejias
1.407.490.9757
La Rosa Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916713
Last Updated: 01/16/2021
BESbswy