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2687 Merrie Oaks Rd Winter Park, FL 32792

4 Beds 3 Baths 1,921 sqft Built 1966

$439,900

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $229.00
  • 5 Days on Market
  • MLS # : O5910713
  • Updated Date : 12/10/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,921 sqft
  • Baths : 3 full
Listing Agent

Homevest Realty

Listing Agent's Description

WOW! Incredible opportunity to own this 4 bedroom, 3 bath home located in the highly desirable Winter Park Pines Golf Community. Features include a driveway, tray ceilings, pool and fenced in backyard! As you enter through the home you are greeted with a spacious living room. Kitchen features include tray ceilings, a breakfast bar, appliances, and an eat-in nook. The family room includes a ceiling fan, oversized window and ceramic tile. The massive master suite features an en-suite bathroom, walk in closet, and sliding doors leading to the enclosed porch. Exterior features include a covered patio perfect for entertaining, a beautiful pool and a wooden fenced in backyard. Community features include a Golf Course, tennis courts, community pool and playground. Don’t miss your chance to own this impeccable house!

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: Winter Park Pines Merrie Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $109k382k

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

Neighborhood: Winter Park Pines Merrie Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10282207

* 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
Cornerstone Charter Academy K-8 Primary Charter 933 52 7
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Cornerstone Charter Academy K-8

  • Education Level: Primary
  • # of students: 933
  • # of teachers: 52
7
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
 

$395,910$483,890$439,900

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,623
Property Tax -$459
Property Insurance -$151
Property Management Fees -$129
CASH FLOW
-$301

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.

$439,900

PROJECTED PRICE

$2,060

PROJECTED RENT

0.47%

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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,380

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,796

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7953$1,8954$1,9005$2,060
$2,060
RENT COMPS ANALYSIS
  • 2687 Merrie Oaks Rd Winter Park, FL 5
    • 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.07
    •  
  • 367 Fitzhugh Rd Winter Park, FL 1
    • 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 1966
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 624 Brechin Dr Winter Park, FL 2
    • 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1962
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 2717 Amsden Rd Winter Park, FL 3
    • 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 1959
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.99
    •  
  • 2831 Lion Heart Rd #1 Winter Park, FL 4
    • 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 1963
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
PROPERTY LISTING DETAILS
Bryan Blake
1.321.557.2829
Homevest Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5910713
Last Updated: 12/10/2020
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