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2150 Suffield Dr Winter Park, FL 32792

3 Beds 2 Baths 1,200 sqft Built 1971

$310,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $258.33
  • 2 Days on Market
  • MLS # : O5904402
  • Updated Date : 11/07/2020 at 13:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Watson Realty Corp

Listing Agent's Description

Adorable Winter Park Bungalow that's nestled off the beaten path! This 3 Bedroom/2 Bath POOL Home has a lot to offer a Buyer. On nearly 1/4 acre lot that sits at the end of a cul-de-sac, so no neighbors on one side and room all around. Pool is located on the side of the home without neighbors and will be a wonderful area to entertain, or simply relax after a rough day. Pool deck is flagstone and there are two covered areas with an insulated roof to help cool off. Work shop/Laundry Room in the Carport also includes an Upright Freezer as well as the Washer and Dryer – ALL included with the purchase of this home! Current Owner has lovingly maintained this home over the years, with the latest improvements being in 2019 – a Tankless Water Heater, New Fence and most of the Kitchen appliances – oldest appliances are only about three years old! In 2015, Owner installed Solar Panels for electric to the home and happily watched their bills diminish, to even getting money back in July of this year!! The panels have a 25 year warranty that is transferable to the New Owner – will that be you? The HVAC and electric panel were replaced in 2014 and architectural shingle roof was replaced in 2005. Located VERY close to Lakemont Elementary, Shopping and Winter Park Hospital, just to name a few!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Park Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k335k

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

Neighborhood: Park Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10282002

* 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
Lakemont Elementary School Primary Regular 656 45 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Lakemont Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 45
8
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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,144
Property Tax -$323
Property Insurance -$108
Property Management Fees -$139
CASH FLOW
-$173

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.

$310,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.0%
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$1.0M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,363

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,146

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1253$1,4004$1,4005$1,540
$1,540
RENT COMPS ANALYSIS
  • 2150 Suffield Dr Winter Park, FL 5
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.28
    •  
  • 100 Bell Pl Winter Park, FL 1
    • 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1957
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.82
    •  
  • 382 Perth Ln Winter Park, FL 2
    • 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1958
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.88
    •  
  • 1718 Magnolia Ave Winter Park, FL 3
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1957
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.04
    •  
  • 2618 Aloma Ave #2618 Winter Park, FL 4
    • 3 beds 2 baths ∙ 1,298 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,298 Sqft ∙ Built 1959
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.08
    •  
PROPERTY LISTING DETAILS
Charlie Cuccia
1.407.925.6992
Watson Realty Corp
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904402
Last Updated: 11/07/2020
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