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16718 Harper Cove Dr Winter Garden, FL 34787

5 Beds 4 Baths 2,866 sqft Built 2019

$499,900

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $174.42
  • 26 Days on Market
  • MLS # : O5903517
  • Updated Date : 11/28/2020 at 13:55
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,866 sqft
  • Baths : 4 full
Listing Agent

Sunstar Realty Fl Inc

Listing Agent's Description

Great location! Water view property. The house like new which is built on year of 2019. The model name "Cresswell", it has 5 bedrooms, 4 bathrooms, loft, and two cars garage. The property has a lot constructal and metirieal upgrades which are upgraded owner's bathroom, add bedroom 5, upgraded vinyl plane almost all common area on first floor, upgraded 18X18 square diagonal tile of kitchen area, upgraded all cabinets include kitchen and baths, upgraded gourmet kitchen, upgraded laundry room with sink and cabinets, upgraded fiberglass door with full lite glass inserts, upgraded stairs hand rail, and much more. The beautiful community has a 350-acre ski-able lake, community-wide nature walk trail system, 5,000 sf state-of-the-art lakefront clubhouse, full equipment fitness center, Lakeview resort-style pool, grilling and picnic stations, dog park, miniature golf course, and much, much more. HOA includes full professional landscape services, maintenance of the sprinkler system, and more.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Keene's Crossing Elementary School Primary Regular 1,191 78 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Keene's Crossing Elementary School

  • Education Level: Primary
  • # of students: 1,191
  • # of teachers: 78
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
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,844
Property Tax -$585
Property Insurance -$207
HOA -$193
Property Management Fees -$238
CASH FLOW
-$428

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$499,900

PROJECTED PRICE

$2,640

PROJECTED RENT

0.53%

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) 3.00%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,474

INVESTMENT

$134,474

Down Payment
$124,975
Rehab Estimate
$2,000
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,615

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,299
1$2,2992$2,3503$2,4504$2,6405$2,800
$2,800
RENT COMPS ANALYSIS
  • 16718 Harper Cove Dr Winter Garden, FL 4
    • 5 beds 4 baths ∙ 2,866 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,866 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.92
    •  
  • 9141 Pinch Shot Dr Winter Garden, FL 1
    • 5 beds 3 baths ∙ 2,638 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,638 Sqft ∙ Built 2018
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $0.87
    •  
  • 9129 Pinch Shot Dr Winter Garden, FL 2
    • 5 beds 3 baths ∙ 2,638 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,638 Sqft ∙ Built 2018
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.89
    •  
  • 9130 Cut Shot Dr Winter Garden, FL 3
    • 6 beds 3 baths ∙ 2,638 Sqft ∙ Built 2019 6 beds 3 baths ∙ 2,638 Sqft ∙ Built 2019
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.93
    •  
  • 10387 Atwater Bay Dr Winter Garden, FL 5
    • 4 beds 4 baths ∙ 2,920 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,920 Sqft ∙ Built 2018
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.96
    •  
PROPERTY LISTING DETAILS
Zhe Wang
1.407.705.7288
Sunstar Realty Fl Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5903517
Last Updated: 11/28/2020
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