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1734 Michigan Ave Winter Park, FL 32789

3 Beds 2 Baths 990 sqft Built 1989

$324,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $328.18
  • 4 Days on Market
  • MLS # : O5926231
  • Updated Date : 02/26/2021 at 10:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 990 sqft
  • Baths : 1 full , 1 half
Listing Agent

Safetynet Realty

Listing Agent's Description

Great opportunity to move right into a fully updated cozy modern home in a convenient location in Winter Park. Located on a very calm street and minutes distance to Winter Park Downtown area, shopping centers, restaurants, just 20 minutes away from Orlando’s Universal Studios and 30 minutes away from Disney parks. This home has 3 bedrooms and 1 1/2 baths, New flooring, new appliances, designer paint colors, private fenced backyard. Come view this lovely home and expect to be impressed!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lawndale

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $97k320k

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

Neighborhood: Lawndale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8852002

* 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
Killarney Elementary School Primary Regular 444 30 6
College Park Middle School Middle Unknown NA
Edgewater High School High Magnet 1,782 89 4

Killarney Elementary School

  • Education Level: Primary
  • # of students: 444
  • # of teachers: 30
6
GreatSchools Rating

College Park Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Edgewater High School

  • Education Level: High
  • # of students: 1,782
  • # of teachers: 89
4
GreatSchools Rating
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,129
Property Tax -$339
Property Insurance -$95
Property Management Fees -$129
CASH FLOW
-$321

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.

$324,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) -6.7%
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$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,174

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $1,423

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4953$1,6504$1,7505$1,799
$1,799
RENT COMPS ANALYSIS
  • 1734 Michigan Ave Winter Park, FL 1
    • 3 beds 2 baths ∙ 990 Sqft ∙ Built 1989 3 beds 2 baths ∙ 990 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.38
    •  
  • 148 Oak Grove Rd Winter Park, FL 2
    • 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1995
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.29
    •  
  • 1133 S Denning Dr Winter Park, FL 3
    • 3 beds 2 baths ∙ 1,167 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,167 Sqft ∙ Built 1987
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.41
    •  
  • 2413 Musselwhite Ave Orlando, FL 4
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1997
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.52
    •  
  • 2018 Jewell Ave Winter Park, FL 5
    • 4 beds 3 baths ∙ 1,178 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,178 Sqft ∙ Built 1974
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.53
    •  
PROPERTY LISTING DETAILS
Avihai Sela
1.317.603.8743
Safetynet Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5926231
Last Updated: 02/26/2021
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