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13073 Overstreet Rd Windermere, FL 34786

4 Beds 4 Baths 2,472 sqft Built 2009

INVESTimate

$404,900

List Price

$2,310

$2,079 - $2,541

Rent Est.

$421,217  ( +4.03%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2009
  • Price/Sqft : $163.79
  • 10 Days on Market
  • MLS # : O5885567
  • Updated Date : 08/18/2020 at 05:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,472 sqft
  • Baths : 3 full , 1 half
Listing Agent

Clock Tower Realty

Listing Agent's Description

***Stunning 4 Bed/3.5 Bath Pool home in the desirable ‘Lakes of Windermere’ community*** Welcome to this beautiful Craftsman style Ashton Woods built home situated on a prime corner lot with a very functional floor plan. Wood look porcelain tile throughout the home including dining, kitchen, family room, master bedroom & 2 downstairs bedrooms! Separate formal dining area with tray ceiling and 3 high windows for additional lighting. Large open kitchen with island and family room combination makes this home feel spacious and bright. The kitchen features stainless steel appliances, custom backsplash and 42 inch cabinets – (all appliances INCLUDING the water & dryer convey with the sale) . Huge master bedroom w/tray ceiling that includes an ensuite master bathroom with roman tub, separate shower and dual sinks. The additional separate private two downstairs bedrooms share a full bathroom. Upstairs features a VERY large bedroom/loft (20 ft x 20 ft) with separate closet and full bathroom (ideal for that independent teenager!) Sliding glass doors lead out to a relaxing & private L- shaped SOLAR heated SALT water SCREENED pool area all enclosed by vinyl fencing. Access to the pool half bath is conveniently available directly from the pool deck! Fantastic neighborhood amenities include a fishing pier on Lake Sawyer, Olympic size swimming pool, Clubhouse, Tennis courts, Volleyball courts and Children’s playground/park. Great location close to excellent schools (zoned for the new Windermere High School), restaurants, shopping and close to the Disney Parks! Move in ready & a must see home for any new home buyer!!!

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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: Lakes of Windermere

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $110k508k

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

Neighborhood: Lakes of Windermere

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10293062

* 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
 

$364,410$445,390$404,900

PURCHASE PRICE

$2,079$2,541$2,310

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,494
Property Tax -$474
Property Insurance -$184
HOA -$70
Property Management Fees -$208
CASH FLOW
-$120

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.

$404,900

PROJECTED PRICE

$2,310

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 4.03%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,049

INVESTMENT

$113,049

Down Payment
$101,225
Rehab Estimate
$5,750
Closing Costs
$6,074

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,225
Loan Amount $303,675
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$12,403

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,293

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3103$2,3504$2,3755$2,600
$2,600
RENT COMPS ANALYSIS
  • 13073 Overstreet Rd Windermere, 2
    • 4 beds 4 baths ∙ 2,472 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,472 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.93
    •  
  • 7349 Ella Ln Windermere, 1
    • 4 beds 4 baths ∙ 2,461 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,461 Sqft ∙ Built 2015
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 7343 Derexa Dr Windermere, 3
    • 4 beds 4 baths ∙ 2,612 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,612 Sqft ∙ Built 2007
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 12803 Holdenbury Ln Windermere, 4
    • 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2006
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.97
    •  
  • 13222 Roskin Ln Windermere, 5
    • 4 beds 4 baths ∙ 2,628 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,628 Sqft ∙ Built 2007
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.99
    •  
PROPERTY LISTING DETAILS
Mark Hide
1.407.832.7332
Clock Tower Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5885567
Last Updated: 08/18/2020
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