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10061 Bedtime Story Dr Winter Garden, FL 34787

3 Beds 3 Baths 1,770 sqft Built 2016

INVESTimate

$339,000

List Price

$1,900

$1,710 - $2,090

Rent Est.

$360,662  ( +6.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $191.53
  • 7 Days on Market
  • MLS # : O5886516
  • Updated Date : 08/24/2020 at 22:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 2 full , 1 half
Listing Agent

Charles Rutenberg Realty Orlando

Listing Agent's Description

Welcome HOME! This bright and open, 3 bedroom, 2/1 bathroom home sits in the heart of the well known fast-growing Horizon's West area of Winter Garden. The first floor features an open floor plan. Kitchen boast with quartz counter tops, stainless steel appliances, massive island, and tiled back splash. Smart lock doors, smart garage door opener and a Nest thermostat. Beautiful backyard includes spa, brick pavered area and walkway to garage. The upstairs master bedroom features a large en-suite bathroom with his and hers sinks as well as a large roomy walk-in closet. Storey Grove is located in an A+ school district, and the new elementary school is very close to the house. Community amenities include a playground, dog park, conservation areas, walking trails, and ponds. The basketball court, clubhouse, fitness center, picnic area, resort style swimming pool are under construction (final phase). It is very close to the main roads such as 429 and 192. Great shopping areas, including the New Disney Flamingo Crossing, are also in a very close commute.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Zip Code: 34787

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k361k

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

Zip Code: 34787

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10292322

* 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
Keene's Crossing Elementary School Primary Regular 1,191 78 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Keene's Crossing Elementary School

  • Education Level: Primary
  • # of students: 1,191
  • # of teachers: 78
9
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
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,251
Property Tax -$397
Property Insurance -$142
HOA -$60
Property Management Fees -$171
CASH FLOW
-$121

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.

$339,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 6.39%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$9,066

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,900
$1,900
RENT COMPS ANALYSIS
  • 10061 Bedtime Story Dr Winter Garden,
    • 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.07
    •  
PROPERTY LISTING DETAILS
Renata Garcia Belardo
1.407.308.8560
Charles Rutenberg Realty Orlando
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5886516
Last Updated: 08/24/2020
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