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1649 Spring Loop Way Winter Garden, FL 34787

3 Beds 2 Baths 2,114 sqft Built 1995

$314,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $148.96
  • 3 Days on Market
  • MLS # : O5903976
  • Updated Date : 11/07/2020 at 08:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,114 sqft
  • Baths : 2 full
Listing Agent

Starlink Realty Of Orlando

Listing Agent's Description

Desirable GOLF CART DISTRICT of WINTER GARDEN 3 bed 2 bath home with the BONUS of backing to the West Orange Trail. Enter the double front door entry into the formal living and dining room that feature lovely floors and a soaring ceiling. The home has multiple living spaces that include a formal living room, family room with fireplace a Florida Room, formal dining room and breakfast nook for plenty of versatility in the use of your home. It is set on almost 1/4 acre with a New Roof in 2017 and almost all new interior paint 2020. MLS # O5903976 Kitchen features breakfast bar, large closet pantry and separate eating space open to family room with vaulted ceilings. Large Florida room could be used for any number of options such as an added great room, playroom, offices, or any combination. Step into the SPACIOUS master bedroom with vaulted ceiling with a customized walk-in closet. Master bath has a large soaking garden tub, dual vanity, and separate shower. The split bedroom plan offers 2 additional nice size rooms. The yard is completely fenced with 6’ privacy fence. There are endless opportunities here to enjoy the perks of living in Winter Garden like riding your golf cart downtown, enjoying Chapin Station Park around the corner featuring tennis courts and playground, and especially the West Orange Trail. Enjoy Saturday mornings at the award-winning FARMERS MARKET, shopping, and all the dining you can imagine. Centrally located to all major roads & highways. Irrigation is on well. Home features a Trane Clean Effects air filtration with 20 Seer condensing unit. Audio/Video Surveillance may be in use.

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: Crown Point Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k361k

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

Neighborhood: Crown Point Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9502320

* 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
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,162
Property Tax -$347
Property Insurance -$162
HOA -$21
Property Management Fees -$150
CASH FLOW
-$172

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.

$314,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 11.5%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$5,142

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,718

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,6703$1,6954$1,8755$2,050
$2,050
RENT COMPS ANALYSIS
  • 1649 Spring Loop Way Winter Garden, FL 2
    • 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.79
    •  
  • 721 Bellshire Way Winter Garden, FL 1
    • 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 2009
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.70
    •  
  • 1815 Americus Minor Dr Winter Garden, FL 3
    • 4 beds 2 baths ∙ 2,199 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,199 Sqft ∙ Built 2002
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.77
    •  
  • 1336 Lindzlu St Winter Garden, FL 4
    • 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 2005
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.91
    •  
  • 1544 Mistflower Ln Winter Garden, FL 5
    • 4 beds 2 baths ∙ 2,348 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,348 Sqft ∙ Built 2005
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.87
    •  
PROPERTY LISTING DETAILS
Justin Yvonn Wiechart, Llc
1.407.704.0420
Starlink Realty Of Orlando
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5903976
Last Updated: 11/07/2020
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