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1814 Prairie Lake Blvd Ocoee, FL 34761

3 Beds 2 Baths 1,337 sqft Built 1987

$255,500

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $191.10
  • 2 Days on Market
  • MLS # : O5906054
  • Updated Date : 11/14/2020 at 22:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,337 sqft
  • Baths : 2 full
Listing Agent

Home Again Realty Llc

Listing Agent's Description

MOVE IN READY HOME!!! THIS HOME HAS A BRAND NEW ROOF 10/2020 AND A NEW HVAC 2017 WITH A NEST THERMOSTAT. OPEN FLOOR PLAN WITH VAULTED CEILINGS IN THE LIVING ROOM, DINING ROOM, AND KITCHEN AREA. NEWER ESPRESSO KITCHEN CABINETS, GRANITE COUNTER TOPS, AND A BREAKFAST BAR. ENJOY THE SCREENED IN PORCH OVERLOOKING YOUR PRIVATE NEWELY FENCED IN BACKYARD. HOME IS CLOSE TO SHOPPING, RESTAURANTS, AND THE 408. DONT MISS OUT ON THIS OPPOTUNITY TO OWN THIS HOME, CALL TODAY TO SCHEDULE A SHOWING.

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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: Forests Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $86k331k

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

Neighborhood: Forests Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8452089

* 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
 

$229,950$281,050$255,500

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$943
Property Tax -$323
Property Insurance -$116
Property Management Fees -$133
CASH FLOW
-$34

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.

$255,500

PROJECTED PRICE

$1,480

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.7%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$73,458

INVESTMENT

$73,458

Down Payment
$63,875
Rehab Estimate
$5,750
Closing Costs
$3,833

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$943

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,875
Loan Amount $191,625
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,658

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,160

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1003$1,1504$1,4805$1,595
$1,595
RENT COMPS ANALYSIS
  • 1814 Prairie Lake Blvd Ocoee, FL 4
    • 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.11
    •  
  • 1514 Prairie Lake Blvd Ocoee, FL 1
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1986
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.84
    •  
  • 1417 Prairie Lake Blvd Ocoee, FL 2
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.88
    •  
  • 5007 Shale Ridge Trl Orlando, FL 3
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2004
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.78
    •  
  • 1517 Ison Ln Ocoee, FL 5
    • 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 1986
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
PROPERTY LISTING DETAILS
Gina Carbonetti
1.407.928.0036
Home Again Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906054
Last Updated: 11/14/2020
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