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2200 Romanum Dr Winter Garden, FL 34787

4 Beds 4 Baths 2,561 sqft Built 2015

$420,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $164.00
  • 7 Days on Market
  • MLS # : O5921850
  • Updated Date : 02/08/2021 at 18:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,561 sqft
  • Baths : 4 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

One or more photo(s) has been virtually staged. Built in 2015, this Winter Garden two-story home offers a patio, granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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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: Winter Garden

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k361k

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

Neighborhood: Winter Garden

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10292322

* 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
Whispering Oak Elementary School Primary Regular 812 50 9
Sunridge Middle School Middle Unknown 1,260 64 NA
Windermere High School High Regular NA

Whispering Oak Elementary School

  • Education Level: Primary
  • # of students: 812
  • # of teachers: 50
9
GreatSchools Rating

Sunridge Middle School

  • Education Level: Middle
  • # of students: 1,260
  • # of teachers: 64
NA
GreatSchools Rating

Windermere High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,459
Property Tax -$462
Property Insurance -$189
HOA -$180
Property Management Fees -$129
CASH FLOW
-$49

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.

$420,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.5%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$18,674

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,343

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,225
1$2,2252$2,2503$2,2654$2,3705$2,400
$2,400
RENT COMPS ANALYSIS
  • 2200 Romanum Dr Winter Garden, FL 4
    • 4 beds 4 baths ∙ 2,561 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,561 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.93
    •  
  • 1040 Vinsetta Cir Winter Garden, FL 1
    • 5 beds 3 baths ∙ 2,481 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,481 Sqft ∙ Built 2015
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.90
    •  
  • 1940 Jean Marie Dr Winter Garden, FL 2
    • 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2007
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 1021 Vinsetta Cir Winter Garden, FL 3
    • 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2014
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,265
    • $0.84
    •  
  • 1919 Kodsi Ct Winter Garden, FL 5
    • 3 beds 3 baths ∙ 2,435 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,435 Sqft ∙ Built 2006
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.99
    •  
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 #: O5921850
Last Updated: 02/08/2021
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