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1871 Lochshyre Loop Ocoee, FL 34761

3 Beds 2 Baths 1,612 sqft Built 2001

$300,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $186.10
  • 4 Days on Market
  • MLS # : O5926147
  • Updated Date : 02/26/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,612 sqft
  • Baths : 2 full
Listing Agent

Southern Heritage Realty, Inc

Listing Agent's Description

Honey stop the car! Fantastic 3/2 in the Reserve in Ocoee. Living room / dining room combo with high vaulted ceilings plus a family room. Kitchen has been remodeled and features marble countertops, stainless steel appliances and a breakfast bar plus plenty of room for your dinette. Master bedroom is spacious enough for BIG furniture! Master bath features double sinks, walk in closet, tub and shower. Split bedroom plan. Ceiling fans everywhere! Spacious fenced back yard perfect for kids and pets. Great schools - what more could you ask for? Location is close to everything including major highways.

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: Reserve

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k287k

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

Neighborhood: Reserve

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9361932

* 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
Citrus Elementary School Primary Regular 654 40 5
Ocoee Middle School Middle Regular 1,375 73 3
Ocoee High School High Regular 2,243 106 4

Citrus Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 40
5
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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,042
Property Tax -$379
Property Insurance -$132
HOA -$164
Property Management Fees -$129
CASH FLOW
-$256

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.

$300,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.7%
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$200k$400k$600k$800k

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,115

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,592

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,5904$1,7255$1,800
$1,800
RENT COMPS ANALYSIS
  • 1871 Lochshyre Loop Ocoee, FL 3
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.99
    •  
  • 2381 Cory Ct Ocoee, FL 1
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1994
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.06
    •  
  • 1992 Switch Grass Cir Ocoee, FL 2
    • 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2015
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 2799 Cullens Ct Ocoee, FL 4
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1997
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.02
    •  
  • 1060 Shimmering Sand Dr Ocoee, FL 5
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1997
    property image
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Karen Hewitt
1.407.489.2740
Southern Heritage Realty, Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5926147
Last Updated: 02/26/2021
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