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15077 Purple Martin St Winter Garden, FL 34787

3 Beds 3 Baths 1,998 sqft Built 2016

$389,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $194.69
  • 4 Days on Market
  • MLS # : O5917880
  • Updated Date : 01/21/2021 at 17:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,998 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wra Real Estate Solutions Llc

Listing Agent's Description

Ready to move in home located in SUMMERLAKE. Title throughout the first floor, granite counter tops in the kitchen, this home has a ton of upgrades. Fenced backyard so you can enjoy with the family. Summerlake community offer a community pool, tennis course, basketball course, gym and much more. Close to 429, Walmart, Hamlin Town center. You cannot miss this oportunity.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Zip Code: 34787

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k361k

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

Zip Code: 34787

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10292322

* 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
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,351
Property Tax -$456
Property Insurance -$155
HOA -$200
Property Management Fees -$129
CASH FLOW
-$291

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.

$389,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

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

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$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,351

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,372

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,003

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,1004$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 15077 Purple Martin St Winter Garden, FL 2
    • 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
  • 14745 Spotted Sandpiper Blvd Winter Garden, FL 1
    • 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 2013
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 8013 Woodstar Ln Winter Garden, FL 3
    • 3 beds 2 baths ∙ 2,089 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,089 Sqft ∙ Built 2018
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 15223 Shonan Gold Dr Winter Garden, FL 4
    • 3 beds 4 baths ∙ 2,124 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,124 Sqft ∙ Built 2018
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.01
    •  
  • 15481 Porter Rd Winter Garden, FL 5
    • 3 beds 3 baths ∙ 2,187 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,187 Sqft ∙ Built 2015
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
PROPERTY LISTING DETAILS
Elisa Santos
1.321.663.0519
Wra Real Estate Solutions Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917880
Last Updated: 01/21/2021
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