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2720 Balforn Tower Way Winter Garden, FL 34787

3 Beds 2 Baths 1,588 sqft Built 2007

$321,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $202.14
  • 20 Days on Market
  • MLS # : O5907595
  • Updated Date : 12/12/2020 at 19:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,588 sqft
  • Baths : 2 full
Listing Agent

Lakeside Realty Windermere Inc

Listing Agent's Description

This fantastic 3 bedroom and 2 bath home with a split floor plan is in the highly desirable ONLY 24 hour guard-gated subdivision in Winter Garden. As you enter, be prepared for the cozy and bright family room which is open to the kitchen with a breakfast bar and covered patio. While cooking from the spacious kitchen enjoy views through the living room to the backyard! The master bedroom includes a walk-in closet, bathroom featuring a jetted tub, and separate shower. The home also offers two additional bedrooms with a full bathroom. Get ready to relax in the screened patio with an oversized yard and take in all Winter Garden has to offer! Don't forget all of Stoneybrook West's amenities that are INCLUDED along with it's grade A school's which is cable, high-speed internet, residents have access to a state of the art fitness center, Jr. olympic swimming pool, playground, multipurpose fields, lighted basketball and tennis courts, inline skating rink, sand volleyball, fishing and a private community boat ramp! Conveniently located within minutes of shopping, restaurants, highways and downtown Winter Garden!

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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: Stoneybrook West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $110k414k

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

Neighborhood: Stoneybrook West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10292342

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

Whispering Oak Elementary School

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

$288,900$353,100$321,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,184
Property Tax -$353
Property Insurance -$131
HOA -$170
Property Management Fees -$129
CASH FLOW
-$277

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.

$321,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.3%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,815

INVESTMENT

$90,815

Down Payment
$80,250
Rehab Estimate
$5,750
Closing Costs
$4,815

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,184

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,250
Loan Amount $240,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,967

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,243

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,4003$1,4954$1,5005$1,690
$1,690
RENT COMPS ANALYSIS
  • 2720 Balforn Tower Way Winter Garden, FL 5
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.06
    •  
  • 14221 Tilden Rd Winter Garden, FL 1
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1988
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.67
    •  
  • 2112 Oakington St Winter Garden, FL 2
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2001
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
  • 2124 Oakington St Winter Garden, FL 3
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2001
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
  • 1168 Hawkslade Ct Winter Garden, FL 4
    • 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 2004
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
PROPERTY LISTING DETAILS
Sean Hooke
1.603.481.3377
Lakeside Realty Windermere Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5907595
Last Updated: 12/12/2020
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