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2678 Tierra Cir Winter Park, FL 32792

3 Beds 2 Baths 1,715 sqft Built 1969

$345,500

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $201.46
  • 5 Days on Market
  • MLS # : O5913085
  • Updated Date : 12/23/2020 at 15:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,715 sqft
  • Baths : 2 full
Listing Agent

Weichert Realtors Hallmark Properties

Listing Agent's Description

WINTER PARK ADDRESS! New vinyl fence in the backyard, 2020. New hot water heater-2018. Kitchen appliances are smudge-proof stainless steel! -new stove, refrigerator, & dishwasher in 2018. Large screened porch with tiled floor - New screen in the screen room and new screen door-2019. Fans with lights in all bedrooms. New paint on the inside. Crown molding in living & dining rooms. All windows have blinds. Close to shopping. The backyard is large enough to put in a swimming pool.

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: Casa Aloma

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k299k

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

Neighborhood: Casa Aloma

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10122002

* 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
English Estates Elementary School Primary Regular 829 59 6
Tuskawilla Middle School Middle Regular 1,080 57 5
Lake Howell High School High Regular 2,229 117 6

English Estates Elementary School

  • Education Level: Primary
  • # of students: 829
  • # of teachers: 59
6
GreatSchools Rating

Tuskawilla Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 57
5
GreatSchools Rating

Lake Howell High School

  • Education Level: High
  • # of students: 2,229
  • # of teachers: 117
6
GreatSchools Rating
 

$310,950$380,050$345,500

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,275
Property Tax -$381
Property Insurance -$139
Property Management Fees -$129
CASH FLOW
-$103

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.

$345,500

PROJECTED PRICE

$1,820

PROJECTED RENT

0.53%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$97,308

INVESTMENT

$97,308

Down Payment
$86,375
Rehab Estimate
$5,750
Closing Costs
$5,183

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,275

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,375
Loan Amount $259,125
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,829

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,531

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5133$1,5454$1,5755$1,820
$1,820
RENT COMPS ANALYSIS
  • 2678 Tierra Cir Winter Park, FL 5
    • 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $1.06
    •  
  • 2600 Verde Ln Winter Park, FL 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1968
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.79
    •  
  • 1724 Peruvian Ln Winter Park, FL 2
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1960
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,513
    • $0.94
    •  
  • 1864 Maywood Rd Winter Park, FL 3
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1956
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.87
    •  
  • 1823 Linden Rd Winter Park, FL 4
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1957
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.97
    •  
PROPERTY LISTING DETAILS
Norma Anderson
1.407.971.9696
Weichert Realtors Hallmark Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5913085
Last Updated: 12/23/2020
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