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1817 Bovingdon Ln Ocoee, FL 34761

4 Beds 3 Baths 2,522 sqft Built 2003

$365,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $144.73
  • 6 Days on Market
  • MLS # : O5926332
  • Updated Date : 02/27/2021 at 15:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,522 sqft
  • Baths : 2 full , 1 half
Listing Agent

Orlando Expert Realty Llc

Listing Agent's Description

**NEW ROOF** Immaculate 4 Bedroom, 2 and half bath Home in Westchester, Ocoee, featuring a full upgraded interior, located on a corner lot. Fully fenced backyard with room for entertainment. Screened and custom paved patio with full lighting. The Kitchen has granite countertops, 18" porcelain tiles, stainless steel appliances and upgraded cherry wood 42" cabinets. Faux Blinds on all windows. Granite countertops and porcelain tiles in all bathrooms. Built in Media Center with surround sound system. Custom light fixtures, recessed lighting and ceiling fans. Oversized Master Bedroom with 9 feet tray ceiling. AC replaced in 2016, newer Washer and Dryer, new oven/cooktop, wood burning fireplace, surround sound system with flushed mount ceiling speakers. Full house Ionics filter and softener system. The community has private access to Prairie Lake Park where you have a fishing-friendly lake and playground. Few miles away from 429, 408 and Florida Turnpike. Conveniently located near West Oaks Mall, West Orange Trail, Ocoee Public Golf course and Health Central Hospital, shopping, dining, schools. Call today to schedule your private tour.

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: Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $110k331k

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

Neighborhood: Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9362089

* 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
Prairie Lake Elementary School Primary Regular 1,081 71 3
Ocoee Middle School Middle Regular 1,375 73 3
Ocoee High School High Regular 2,243 106 4

Prairie Lake Elementary School

  • Education Level: Primary
  • # of students: 1,081
  • # of teachers: 71
3
GreatSchools Rating

Ocoee Middle School

  • Education Level: Middle
  • # of students: 1,375
  • # of teachers: 73
3
GreatSchools Rating

Ocoee High School

  • Education Level: High
  • # of students: 2,243
  • # of teachers: 106
4
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,268
Property Tax -$461
Property Insurance -$187
HOA -$58
Property Management Fees -$129
CASH FLOW
-$103

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.

$365,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.55%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,278

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,137

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,1504$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1817 Bovingdon Ln Ocoee, FL 2
    • 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.79
    •  
  • 1071 Royal Marquis Cir Ocoee, FL 1
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2003
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 1816 Sparkling Water Cir Ocoee, FL 3
    • 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 1995
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.90
    •  
  • 1461 Terra Verde Way Ocoee, FL 4
    • 4 beds 4 baths ∙ 2,840 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,840 Sqft ∙ Built 2017
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.77
    •  
  • 2247 Mountain Spruce St Ocoee, FL 5
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1999
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
PROPERTY LISTING DETAILS
Virginia Silberstein
1.321.274.6991
Orlando Expert Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5926332
Last Updated: 02/27/2021
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