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PROPERTY INFO
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.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Kensington Manor
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$107,775
LOAN DETAILS
$1,420
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $96,250 |
| Loan Amount | $288,750 |
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
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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
1.407.415.7995
Tolaris Realty Group Llc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5902242
Last Updated: 11/02/2020
