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1695 Rachels Ridge Loop Ocoee, FL 34761

4 Beds 2 Baths 2,138 sqft Built 1997

$310,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $145.00
  • 2 Days on Market
  • MLS # : O5913360
  • Updated Date : 12/26/2020 at 19:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,138 sqft
  • Baths : 2 full
Listing Agent

Empire Network Realty

Listing Agent's Description

This move in ready 4 bedroom, 2 bath split floor plan home with fresh paint and new carpet is MUST SEE! Soon as you come in the front door it feels like home. To the right you have the 4th bedroom or office, directly in front the formal sitting and dining room and to the left the MASTER in a wonderfully laid out split floor plan. If you continue to the right side of the home you'll find the kitchen, living room and the remaining two bedrooms. Relax with your family in the oversized back patio that stretches the length of the home, overlooking the large backyard with no rear neighbors. Recent improvements include a newer air conditioner, exterior paint, and newer roof. The home is move-in ready and has the potential to make it your own! Call TODAY for a showing because this home WILL NOT LAST!

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: Wedgewood Commons

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k372k

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

Neighborhood: Wedgewood Commons

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9362112

* 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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,144
Property Tax -$392
Property Insurance -$164
HOA -$23
Property Management Fees -$129
CASH FLOW
-$11

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.

$310,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.59%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$17,725

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,7503$1,7704$1,7955$1,840
$1,840
RENT COMPS ANALYSIS
  • 1695 Rachels Ridge Loop Ocoee, FL 5
    • 4 beds 2 baths ∙ 2,138 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,138 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.86
    •  
  • 1666 Cambridge Village Ct Ocoee, FL 1
    • 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 2001
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.61
    •  
  • 403 Abbeyridge Ct Ocoee, FL 2
    • 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 1991
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 8555 White Rose Dr Orlando, FL 3
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1989
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.80
    •  
  • 9161 Pristine Cir Orlando, FL 4
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 1987
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
PROPERTY LISTING DETAILS
Tj Agosto
1.407.487.3177
Empire Network Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5913360
Last Updated: 12/26/2020
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