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1458 Whitefriar Dr Ocoee, FL 34761

4 Beds 3 Baths 2,873 sqft Built 2006

$385,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $134.01
  • 2 Days on Market
  • MLS # : O5902242
  • Updated Date : 11/02/2020 at 16:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,873 sqft
  • Baths : 3 full
Listing Agent

Tolaris Realty Group Llc

Listing Agent's Description

Well cared for by original owners and currently occupied by responsible tenant, this home makes a perfect investment or purchase! Tenant’s lease ends in February so this is a great opportunity to buy while rates are at a historic all time low and earn income until you move in! Or keep current tenant at $2200 per month, as they would prefer to stay. Popular Camden model with 4 bedrooms, 3 full bathrooms and 3 car garage. Screened and covered patio overlooks the fenced and terraced backyard. Slate tile on covered portion plus extensive paver outdoor patio offers plenty of room for entertaining. Inside, enjoy a split bedroom plan with the master retreat on one side, two bedrooms and bath up front and one bedroom and bath toward the back of the house. Master bedroom has been expanded to include a sitting area and features a large walk-in closet. Central family room and kitchen with granite counters, large closet pantry, custom extended cabinetry/desk area. Front office with plantation shutters (office furniture can stay). Kensington Manor residents have access to the community pool and clubhouse. Ocoee is conveniently located near major roadways and not far from downtown Orlando and attractions.

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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: Kensington Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k373k

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

Neighborhood: Kensington Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9362113

* 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
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,420
Property Tax -$486
Property Insurance -$208
HOA -$79
Property Management Fees -$190
CASH FLOW
-$274

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.

$385,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 5.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,057

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,140

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,110
1$2,1102$2,1503$2,1954$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 1458 Whitefriar Dr Ocoee, FL 1
    • 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.73
    •  
  • 1627 Amber Leaf Cir Ocoee, FL 2
    • 4 beds 4 baths ∙ 2,900 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,900 Sqft ∙ Built 2018
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.74
    •  
  • 3496 Gretchen Dr Ocoee, FL 3
    • 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 2018
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.72
    •  
  • 3408 Bromfield Dr Ocoee, FL 4
    • 5 beds 4 baths ∙ 3,062 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,062 Sqft ∙ Built 2006
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 3570 Strachey Ct Ocoee, FL 5
    • 5 beds 3 baths ∙ 2,868 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,868 Sqft ∙ Built 2005
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
PROPERTY LISTING DETAILS
Lisa Scott
1.407.415.7995
Tolaris Realty Group Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902242
Last Updated: 11/02/2020
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