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10230 Windermere Chase Blvd Gotha, FL 34734

4 Beds 3 Baths 2,724 sqft Built 2000

INVESTimate

$429,000

List Price

$2,500

$2,250 - $2,750

Rent Est.

$462,419  ( +7.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $157.49
  • 2 Days on Market
  • MLS # : O5886331
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,724 sqft
  • Baths : 3 full
Listing Agent

Homevest Realty

Listing Agent's Description

Welcome to the gated community of Windermere Chase! Move in ready pool home 4/3 with a bonus room and over 2700 sq ft. The open floor plan that makes it feel larger than it is. Huge master bedroom with sitting area, tile & laminate throughout, carpet in bedrooms, 40" kitchen cabinets, pool bath, new roof in 2017, new AC and new paint 2020. Enjoy the pool and covered lanai with 8' vinyl fencing around large backyard. Very close to shopping, restaurants, lots of nearby community sports for the little ones, Windermere Little League and of course, the YMCA. Thornebrooke Elementary, Gotha Middle School and Olympia High School are your highly rated schools. Easy commute to 429, turnpike and the 408. This is a great price for a great home.

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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

Neighborhood: Windermere Chase

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $110k503k

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

Neighborhood: Windermere Chase

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10292772

* 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
Thornebrooke Elementary School Primary Regular 741 50 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Thornebrooke Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 50
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
 

$386,100$471,900$429,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,583
Property Tax -$499
Property Insurance -$199
HOA -$88
Property Management Fees -$225
CASH FLOW
-$94

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.

$429,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.79%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$15,325

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,472

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2953$2,5004$2,5005$2,850
$2,850
RENT COMPS ANALYSIS
  • 10230 Windermere Chase Blvd Gotha, 4
    • 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.92
    •  
  • 2341 Wickdale Ct Ocoee, 1
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 1998
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 10639 Moore Rd Gotha, 2
    • 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 1980
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.86
    •  
  • 1219 Dingens Ave Windermere, 3
    • 3 beds 3 baths ∙ 2,830 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,830 Sqft ∙ Built 1981
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.88
    •  
  • 10555 Park Ridge Gotha Rd Windermere, 5
    • 3 beds 3 baths ∙ 2,807 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,807 Sqft ∙ Built 1986
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.02
    •  
PROPERTY LISTING DETAILS
Steve Lang
1.407.435.0290
Homevest Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5886331
Last Updated: 08/26/2020
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