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1680 Sparkling Water Cir Ocoee, FL 34761

3 Beds 2 Baths 1,680 sqft Built 1997

$275,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $163.69
  • 1 Days on Market
  • MLS # : O5907477
  • Updated Date : 11/22/2020 at 00:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

Preferred Real Estate Brokers

Listing Agent's Description

This beautiful 3 bedroom 2 bath home is situated in the well established and family friendly Reflections community! This home features a freshly painted exterior, newer flooring, baseboards, and this gas operated kitchen has gorgeous quartz countertops with subway tile backsplash! The fenced in backyard is great for entertainment with friends and family, or if you want to take the party elsewhere the community includes a pool, picnic area, playground, basketball court, and fishing on Spring Lake all of this included in a relatively low HOA community. This home is located only 3 minutes from the Publix shopping plaza, 5 min from the famous Tom West blueberry farm, 10 min from Downtown Winter Garden brewery, and 20 minutes from Universal Studios.

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

Neighborhood: Reflections

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k326k

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

Neighborhood: Reflections

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9362030

* 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,015
Property Tax -$347
Property Insurance -$136
HOA -$53
Property Management Fees -$158
CASH FLOW
$41

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.

$275,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$15,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,575

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,7254$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 1680 Sparkling Water Cir Ocoee, FL 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 2711 Coventry Ln Ocoee, FL 1
    • 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1990
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 1992 Switch Grass Cir Ocoee, FL 2
    • 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2015
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 2799 Cullens Ct Ocoee, FL 3
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1997
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.02
    •  
  • 1931 Lochshyre Loop Ocoee, FL 5
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2001
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
PROPERTY LISTING DETAILS
Chris Courtney
1.407.406.0506
Preferred Real Estate Brokers
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5907477
Last Updated: 11/22/2020
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