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255 Daniels Pointe Dr Winter Garden, FL 34787

3 Beds 2 Baths 1,359 sqft Built 1997

INVESTimate

$229,900

List Price

$1,440

$1,296 - $1,584

Rent Est.

$254,154  ( +10.55%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $169.17
  • 5 Days on Market
  • MLS # : S5038695
  • Updated Date : 08/24/2020 at 10:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,359 sqft
  • Baths : 2 full
Listing Agent

Changing Latitudes Real Estate Services, Llc

Listing Agent's Description

MULTIPLE OFFERS Please submit highest and best by noon Tuesday Aug 25. Thank you! This 3 bedroom 2 bath home is ideal for first time home buyers or investors. New kitchen appliances and carpet have recently been installed. This home is located in the in Daniels Crossing just a couple blocks from West Colonial and the Historic Winter Garden Downtown District. Close to shopping and dining with easy access to 429 and the Florida Turnpike. Your new home backs up to the community park which acts as an extension of your back yard.

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: Daniels Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $89k361k

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

Neighborhood: Daniels Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200Rent in $8022320

* 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
William S Maxey Elementary School Primary Regular 271 21 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

William S Maxey Elementary School

  • Education Level: Primary
  • # of students: 271
  • # of teachers: 21
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
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,296$1,584$1,440

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-$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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$848
Property Tax -$253
Property Insurance -$117
HOA -$39
Property Management Fees -$130
CASH FLOW
$53

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.

$229,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 10.55%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$14,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,294

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,4403$1,5754$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 255 Daniels Pointe Dr Winter Garden, 2
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.06
    •  
  • 1418 Daniels Cove Dr Winter Garden, 1
    • 4 beds 2 baths ∙ 1,427 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,427 Sqft ∙ Built 1999
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.81
    •  
  • 1137 Copenhagen Way Winter Garden, 3
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2002
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.98
    •  
  • 1415 Alborg Ct Winter Garden, 4
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2002
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 625 Home Grove Dr Winter Garden, 5
    • 4 beds 2 baths ∙ 1,705 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,705 Sqft ∙ Built 2004
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
PROPERTY LISTING DETAILS
James Schreck, Iii
1.407.891.1010
Changing Latitudes Real Estate Services, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5038695
Last Updated: 08/24/2020
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