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16996 Tradewind Pt Winter Garden, FL 34787

4 Beds 3 Baths 2,690 sqft Built 2017

$433,900

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $161.30
  • 5 Days on Market
  • MLS # : O5905841
  • Updated Date : 11/18/2020 at 18:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,690 sqft
  • Baths : 3 full
Listing Agent

Preferred Re Brokers Iii

Listing Agent's Description

The perfect home awaits! Located in the Waterside Community in Winter Garden, this incredible home is ready for you. This move in ready home has beautiful upgrades throughout and all appliances are included! Upgraded flooring, counters, cabinets, wood stairs, gourmet kitchen, tankless hot water heater, epoxy in garage with cabinets, and custom plantation shutters on the sliders. First floor offers a wonderful guest room! Owner's suite and additional bedrooms are upstairs with a great loft area for additional family fun! This open floorplan has a wonderful flow and large family space with an oversized family room, dining area, and kitchen all open and connected. Screened in lanai with extended walkway and patio space for outdoor entertaining. Waterside is located in the heart of Winter Garden with one of the most ideal locations with shopping just down the street! Close and easy access to 429, FL Turnpike, and I-4 making travel convenient. Minutes from Mickey Mouse! The wonderful community amenities as well as "A" rated schools make this house a perfect place to call HOME!

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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: Waterside

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k361k

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

Neighborhood: Waterside

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
Whispering Oak Elementary School Primary Regular 812 50 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Whispering Oak Elementary School

  • Education Level: Primary
  • # of students: 812
  • # of teachers: 50
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
 

$390,510$477,290$433,900

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,601
Property Tax -$477
Property Insurance -$197
HOA -$124
Property Management Fees -$215
CASH FLOW
-$224

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.

$433,900

PROJECTED PRICE

$2,390

PROJECTED RENT

0.55%

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) 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-$5.0k$0.0$5.0k$10k

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$120,734

INVESTMENT

$120,734

Down Payment
$108,475
Rehab Estimate
$5,750
Closing Costs
$6,509

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,601

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,475
Loan Amount $325,425
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$7,482

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,381

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,4003$2,4004$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 16996 Tradewind Pt Winter Garden, FL 1
    • 4 beds 4 baths ∙ 2,690 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,690 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.89
    •  
  • 17367 Bal Harbour Dr Winter Garden, FL 2
    • 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 2019
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.85
    •  
  • 17344 Bal Harbour Dr Winter Garden, FL 3
    • 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 2019
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.85
    •  
  • 17379 Channel Way Winter Garden, FL 4
    • 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 2019
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
  • 17392 Bal Harbour Dr Winter Garden, FL 5
    • 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 2019
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Amy Kidwell
1.407.848.8042
Preferred Re Brokers Iii
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5905841
Last Updated: 11/18/2020
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