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1798 Palmerston Cir Ocoee, FL 34761

5 Beds 3 Baths 2,682 sqft Built 2006

$350,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $130.50
  • 4 Days on Market
  • MLS # : G5036552
  • Updated Date : 12/10/2020 at 17:56
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,682 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Cs

Listing Agent's Description

Beautiful 5 bed/3 bath Morrison Homes style home. Step in through the inviting front door to the formal living, dining room and open style kitchen. The kitchen has granite countertops, 42" dark cherry wood cabinets with crown molding, upgraded stainless steel appliances and an island. It is a wonderful gathering place for entertaining as it opens to the family room and breakfast nook. Tile floor throughout the home which is perfect for pets. The large family room has surround sound speakers and overlooks the spacious backyard and private conservation. It also opens up to a screened in patio which is a perfect space for relaxing and enjoying the greenery and birds. Laundry room with plenty of storage and a sink. The home features a three way split plan - perfect for privacy. The master bedroom is located downstairs. The master bath features a double marble vanity, tiled shower and separate garden bath for soaking in at the end of a long day. The three rooms have closets and share a bathroom. The en-suite guest bedroom is upstairs with its own private full bath and closet. The home rewired to connect to a generator in the event of a power outage. Community has a pool and the neighborhood is close to the West Orange Trail and centrally located with easy access to the 429 and 408.

SEE MORE

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

Neighborhood: Kensington Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k373k

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

Neighborhood: Kensington Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9362113

* 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,291
Property Tax -$442
Property Insurance -$196
HOA -$83
Property Management Fees -$129
CASH FLOW
$38

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.

$350,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 5.4%
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$0.0$5.0k$10k$15k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$23,338

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,193

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,1803$2,2004$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1798 Palmerston Cir Ocoee, FL 2
    • 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.81
    •  
  • 2285 Laurel Blossom Cir Ocoee, FL 1
    • 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 2005
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.78
    •  
  • 3552 Macauley Ct Ocoee, FL 3
    • 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2006
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 3570 Strachey Ct Ocoee, FL 4
    • 5 beds 3 baths ∙ 2,868 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,868 Sqft ∙ Built 2005
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
  • 1729 Palmerston Cir Ocoee, FL 5
    • 5 beds 3 baths ∙ 2,874 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,874 Sqft ∙ Built 2006
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Audrey Benassi
1.954.688.5400
Keller Williams Realty Cs
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: G5036552
Last Updated: 12/10/2020
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