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

1366 Plumgrass Cir Ocoee, FL 34761

4 Beds 2 Baths 1,973 sqft Built 2009

$305,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $154.59
  • 4 Days on Market
  • MLS # : O5916533
  • Updated Date : 01/14/2021 at 11:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,973 sqft
  • Baths : 2 full
Listing Agent

Empire Network Realty

Listing Agent's Description

Step into this beautiful MOVE-IN READY HOME showcasing a wonderful split floorpan. The SPLIT PLAN delivers a PRIVATE MASTER SUITE with a MASTER BATH boasting DUAL SINKS, GARDEN TUB, and a separate shower with large walk-in closet. A OPEN FLOOR PLAN awaits highlighted by easy care TILE FLOORS and NEW CARPET. The three spacious guest bedrooms add to the appeal of this home. The Reserve at Meadow Lake is a serene community offering a community pool, clubhouse, and a playground. Conveniently located near major highways such as 429, downtown Ocoee, schools, shops, restaurants, Winter Garden Village, Apopka, and the Health Central hospital. Don’t miss your chance to live in this quiet community convenient to everything! Schedule your private showing TODAY, this one WON'T LAST!

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: Ocoee

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k280k

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

Neighborhood: Ocoee

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9361877

* 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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,059
Property Tax -$385
Property Insurance -$154
HOA -$61
Property Management Fees -$129
CASH FLOW
-$9

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.

$305,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$13,704

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7803$1,7954$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1366 Plumgrass Cir Ocoee, FL 2
    • 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.90
    •  
  • 1992 Switch Grass Cir Ocoee, FL 1
    • 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2015
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 1948 Lochshyre Loop Ocoee, FL 3
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2001
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.83
    •  
  • 1931 Lochshyre Loop Ocoee, FL 4
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2001
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 1988 Saint James Ct Ocoee, FL 5
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2000
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Tj Agosto
1.407.487.3177
Empire Network Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916533
Last Updated: 01/14/2021
BESbswy