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2829 Bongart Rd Winter Park, FL 32792

3 Beds 2 Baths 1,680 sqft Built 1962

$310,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $185.06
  • 7 Days on Market
  • MLS # : O5906255
  • Updated Date : 11/17/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Charming 3 bedroom, 2 bathroom, single-family pool home located in the community of Winter Park Estates. This home features a living room with a brick fireplace and a dining room with tiled floors. The kitchen boasts butcher block countertops, decorative backsplash, appliances, plenty of overhead cabinet space, and an eat-in kitchen nook with a window seat. The hallway off the kitchen leads to the primary room which includes french doors, and a private bathroom with a single vanity and tiled stand-alone shower. Outside the primary room are 2 additional bedrooms and a full bathroom. The spacious family room features a brick fireplace and leads to the enclosed porch that overlooks the pool area. This community is located in top-rated school zones and is conveniently located to shopping, restaurants, downtown Winter Park and SR 436.

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: Winter Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $107k293k

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

Neighborhood: Winter Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9542002

* 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
Lakemont Elementary School Primary Regular 656 45 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Lakemont Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 45
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
 

$279,810$341,990$310,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,147
Property Tax -$339
Property Insurance -$136
Property Management Fees -$159
CASH FLOW
-$12

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.

$310,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$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$88,139

INVESTMENT

$88,139

Down Payment
$77,725
Rehab Estimate
$5,750
Closing Costs
$4,664

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,147

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,725
Loan Amount $233,175
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$14,173

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,877

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,562
1$1,5622$1,7503$1,7704$1,8905$1,900
$1,900
RENT COMPS ANALYSIS
  • 2829 Bongart Rd Winter Park, FL 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.05
    •  
  • 718 Denton Rd Winter Park, FL 1
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1961
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,562
    • $1.02
    •  
  • 512 Ellendale Dr Winter Park, FL 2
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1958
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.18
    •  
  • 328 Ellendale Dr Winter Park, FL 4
    • 4 beds 3 baths ∙ 1,708 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,708 Sqft ∙ Built 1959
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.11
    •  
  • 2730 Aloma Ave Winter Park, FL 5
    • 4 beds 3 baths ∙ 1,645 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,645 Sqft ∙ Built 1959
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.16
    •  
PROPERTY LISTING DETAILS
Veronica Figueroa
1.407.329.9500
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906255
Last Updated: 11/17/2020
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