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163 Hercules Ct Ocoee, FL 34761

4 Beds 3 Baths 2,922 sqft Built 1992

$359,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $122.86
  • 3 Days on Market
  • MLS # : O5902387
  • Updated Date : 11/02/2020 at 11:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,922 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

FROM THE MAJESTIC FRONT YARD WITH LAKE OLYMPIA VIEWS TO THE FIRST FLOOR OWNER'S SUITE WITH A MASTER BATH WITH PRIVATE ENTRANCE TO THE POOL, THIS HOUSE IS TRULY A HOME IDEAL FOR ENTERTAINING. OTHER FEATURES INCLUDE OVERSIZED LOT WITH NO REAR NEIGHBORS; WOOD LAMINATED FLOORING, WITH OPEN KITCHEN WITH AMPLE COUNTER SPACE AND BREAKFAST NOOK OVERLOOKING THE POOL; FAMILY ROOM, FORMAL LIVING THAT CAN EASILY BE CONVERTED TO A DEN OR OFFICE; FORMAL DINING FOR THOSE SPECIAL OCCASIONS; FRENCH DOORS LEADING TO THE OWNER'S MASTER BEDROOM. SPECIOUS MASTER BATH FEATURING DUAL SINK, SUNKAN GARDEN TUB, SEPARATE SHOWER, AND WALK-IN CLOSET. REMAINING 3 BEDROOMS UPSTAIRS WITH OPEN LOFT AREA OVERLOOKING FAMILY ROOM; SPACIOUS POOL WITH PLENTY OF SPOTS FOR SUN OR SHADE ON THE LANAI. NEW ROOF 2019, NEW A/C 2020, AND MANY MORE UPGRADES. THIS HOME HAS TOTAL AREA SPACE OF 3,769 (HEATED AREA 2,924 SQFT) AND IT IS READY FOR YOU TO CALL IT YOUR NEW HOME, SELLER AGENT IS THE OWNER.

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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: Lake Olympia Lake Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k372k

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

Neighborhood: Lake Olympia Lake Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9362234

* 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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,325
Property Tax -$453
Property Insurance -$211
HOA -$57
Property Management Fees -$193
CASH FLOW
-$98

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.

$359,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.7%
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-$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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,899

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$2,0003$2,140
$2,140
RENT COMPS ANALYSIS
  • 163 Hercules Ct Ocoee, FL 3
    • 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.73
    •  
  • 812 Kazaros Cir Ocoee, FL 1
    • 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 2006
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.61
    •  
  • 305 Sterling Lake Dr Ocoee, FL 2
    • 5 beds 3 baths ∙ 2,916 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,916 Sqft ∙ Built 1993
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.69
    •  
PROPERTY LISTING DETAILS
Jamison St Cyr
1.407.552.8112
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902387
Last Updated: 11/02/2020
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