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2788 Maria Isabel Ave Ocoee, FL 34761

3 Beds 3 Baths 2,388 sqft Built 2010

$445,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $186.35
  • 3 Days on Market
  • MLS # : O5911283
  • Updated Date : 12/18/2020 at 11:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,388 sqft
  • Baths : 3 full
Listing Agent

Bhhs Florida Realty

Listing Agent's Description

BEAUTIFUL & MOVE-IN READY! Located in the highly desirable GATED community of Meadow Ridge. This is the home you've been waiting for! Pull onto the pavered driveway and notice the THREE CAR GARAGE! Step inside the front door and take in the open floor plan, volume ceilings, and 3 way split plan for the 3 bedrooms. Imagine preparing delicious meals in the gourmet kitchen complete with center island, stainless steel appliances, granite counter tops, and double wall ovens. Glance just beyond the breakfast bar into the large family room featuring an expansive entertainment wall that is perfect for your big screen TV and other electronic equipment. Two sets of sliding glass doors lead out to the backyard oasis showcasing a heated spa and pool with screen enclosure. Relax with a cup of coffee, or glass of wine, on the lanai and pool deck area. Settle in to the Owner's Suite which offers a luxurious primary bathroom with dual vanities, garden tub, separate shower, and walk-in closet. Manage your work projects in the IN-HOME OFFICE/DEN that can also be converted into a FOURTH BEDROOM. All this plus Meadow Ridge residents can also enjoy the neighborhood amenities such as a community pool, clubhouse, dog walk park, tot lot, and waterfront gazebo. Just minutes from downtown Windermere, and the restaurants and shops of Winter Garden Village, with convenient access to 429, 408, Florida Turnpike and downtown Orlando. Less than 30 minutes from all local attractions. Call for your private showing appointment today!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Neighborhood: Meadow Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $110k561k

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

Neighborhood: Meadow Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9362836

* 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
Thornebrooke Elementary School Primary Regular 741 50 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Thornebrooke Elementary School

  • Education Level: Primary
  • # of students: 741
  • # 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
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,642
Property Tax -$572
Property Insurance -$179
HOA -$164
Property Management Fees -$129
CASH FLOW
-$405

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.

$445,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 2.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,064

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,287

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2504$2,2805$2,350
$2,350
RENT COMPS ANALYSIS
  • 2788 Maria Isabel Ave Ocoee, FL 4
    • 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.95
    •  
  • 2341 Wickdale Ct Ocoee, FL 1
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 1998
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 11246 Rapallo Ln Windermere, FL 2
    • 3 beds 2 baths ∙ 2,188 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,188 Sqft ∙ Built 2004
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
  • 11235 Rapallo Ln Windermere, FL 3
    • 3 beds 3 baths ∙ 2,211 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,211 Sqft ∙ Built 2002
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
  • 1077 Lascala Dr Windermere, FL 5
    • 4 beds 2 baths ∙ 2,514 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,514 Sqft ∙ Built 2004
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.93
    •  
PROPERTY LISTING DETAILS
Mary Currie
1.407.492.1811
Bhhs Florida Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5911283
Last Updated: 12/18/2020
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