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2020 Fishtail Fern Way Ocoee, FL 34761

3 Beds 3 Baths 2,117 sqft Built 2012

INVESTimate

$339,000

List Price

$2,050

$1,845 - $2,255

Rent Est.

$352,628  ( +4.02%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $160.13
  • 2 Days on Market
  • MLS # : O5887717
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,117 sqft
  • Baths : 2 full , 1 half
Listing Agent

Xcellence Realty

Listing Agent's Description

You are going to love this home. Move-In ready, excellent community, very convenient location, low maintenance neighborhood, secure gated community, clubhouse and pool. Lots of light, very open floor plan, exceptional functional floor plan. Big kitchen, check out the under the stairs pantry – it's huge. Granite, wood cabinets, island and kitchen bar that opens t great room. Upstairs is a second TV space or kids area. Upstairs laundry room for convenience. Fenced pack yard for kids or pets. This one of those homes you need to see to appreciate.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ocoee

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k280k

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

Neighborhood: Ocoee

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9361877

* 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
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

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$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,251
Property Tax -$428
Property Insurance -$163
HOA -$125
Property Management Fees -$185
CASH FLOW
-$101

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.

$339,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 4.02%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,302

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,826

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,8003$1,9754$2,0505$2,325
$2,325
RENT COMPS ANALYSIS
  • 2020 Fishtail Fern Way Ocoee, 4
    • 3 beds 3 baths ∙ 2,117 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,117 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.97
    •  
  • 73 Highbrooke Blvd Ocoee, 1
    • 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2001
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.70
    •  
  • 11422 Rapallo Ln Windermere, 2
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2003
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 2020 Leather Fern Dr Ocoee, 3
    • 3 beds 3 baths ∙ 2,115 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,115 Sqft ∙ Built 2014
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.93
    •  
  • 345 Chickasaw Berry Rd Ocoee, 5
    • 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2014
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $1.01
    •  
PROPERTY LISTING DETAILS
Levi Salmans
1.866.595.6025
Xcellence Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887717
Last Updated: 08/26/2020
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