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15049 Spinnaker Cove Ln Winter Garden, FL 34787

4 Beds 3 Baths 2,700 sqft Built 2005

$459,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $170.00
  • 2 Days on Market
  • MLS # : O5914485
  • Updated Date : 01/09/2021 at 12:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,700 sqft
  • Baths : 3 full
Listing Agent

Sand Dollar Realty Group Inc

Listing Agent's Description

Captivating remodeled cul-de-sac golf course home in man guard gated Stoneybrook West with beautiful views of the golf course and water. The home has 4 bedrooms, 3 full baths plus a separate office! Downstairs you are greeted by oil rubbed white oak wood floors throughout and a view of your stunning pool. True Florida life style with outdoor living, sunset views, a salt water solar heated pool with a new 3 hp variable speed pump (2020) and new Spa Gas Heater (2020). Downstairs features an open concept of kitchen/dining with family room combo, home office, formal dining or IMng, guest bedroom, full bathroom, and laundry plus a 3 car garage in a golf cart friendly community. Brand new kitchen appliances, enjoy cooking on your top of the line induction oven! upstairs features all wood flooring (no Carpet!) a large gorgeous master suite with brand new bathroom remodel, two additional bedrooms with third full bath. The master planned community offers guard gated security, fitness center, lap pool, kiddie pool, basketball courts, tennis courts, inline skating, boat access, and fishing pier. The property is located conveniently to Historic Plant Street with amazing brewery, Fowler's Grove, West Orange Bike Path, Theme Parks, and major road ways (429 / Turnpike). Top rated public school district with amazing blue ribbon elementary school in walking distance plus top private schools. Major remodel throughout the interior but also big upgrades with Two New Trane 17 SEEF] w/ Humidity Control Air Conditioner Units (2019); New Proof (2019); Exterior Home Painted (2018), Pool Solar Panels, Pool Pump, & Spa Gas Heater (2020) Truly nothing left to do with this upgraded home, just bring your swim suit!

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: Stoneybrook West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $110k414k

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

Neighborhood: Stoneybrook West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10292342

* 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
Whispering Oak Elementary School Primary Regular 812 50 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Whispering Oak Elementary School

  • Education Level: Primary
  • # of students: 812
  • # 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
 

$413,100$504,900$459,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,594
Property Tax -$505
Property Insurance -$198
HOA -$173
Property Management Fees -$129
CASH FLOW
-$229

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.

$459,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,385

INVESTMENT

$127,385

Down Payment
$114,750
Rehab Estimate
$5,750
Closing Costs
$6,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,594

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,750
Loan Amount $344,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$9,348

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,356

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,2004$2,3705$2,500
$2,500
RENT COMPS ANALYSIS
  • 15049 Spinnaker Cove Ln Winter Garden, FL 4
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.88
    •  
  • 14470 Breakwater Way Winter Garden, FL 1
    • 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2016
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.86
    •  
  • 1424 Selbydon Way #1 Winter Garden, FL 2
    • 4 beds 2 baths ∙ 2,540 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,540 Sqft ∙ Built 2002
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 15145 Spinnaker Cove Ln Winter Garden, FL 3
    • 4 beds 2 baths ∙ 2,528 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,528 Sqft ∙ Built 2005
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 14224 Sunridge Blvd Winter Garden, FL 5
    • 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2017
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Robert Arnold, Jr
1.407.389.7318
Sand Dollar Realty Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5914485
Last Updated: 01/09/2021
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