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2078 Hedgerow Cir Ocoee, FL 34761

4 Beds 2 Baths 2,002 sqft Built 1992

$280,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $139.86
  • 5 Days on Market
  • MLS # : O5919590
  • Updated Date : 01/29/2021 at 21:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,002 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Ocoee one-story home offers a two-car garage. This home is vacant and cleaned regularly.

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: Amber Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $69k280k

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

Neighborhood: Amber Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7851877

* 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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$973
Property Tax -$354
Property Insurance -$156
HOA -$17
Property Management Fees -$129
CASH FLOW
$172

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.

$280,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$27,775

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,852

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,7954$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 2078 Hedgerow Cir Ocoee, FL 5
    • 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 2532 Grand Poplar St Ocoee, FL 1
    • 4 beds 2 baths ∙ 2,099 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,099 Sqft ∙ Built 1999
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.86
    •  
  • 2038 Key Lime St Ocoee, FL 2
    • 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1994
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 2061 Applegate Dr Ocoee, FL 3
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2000
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 1988 Saint James Ct Ocoee, FL 4
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2000
    property image
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Alli Johnston
1.407.634.1744
Opendoor Brokerage Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5919590
Last Updated: 01/29/2021
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