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2900 Lolissa Ln Winter Park, FL 32789

4 Beds 2 Baths 2,123 sqft Built 1970

$459,900

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $216.63
  • 4 Days on Market
  • MLS # : O5905440
  • Updated Date : 11/13/2020 at 12:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,123 sqft
  • Baths : 2 full
Listing Agent

Clock Tower Realty

Listing Agent's Description

Beautifully updated, mid-century modern pool home on a quiet cul-de-sac! This gorgeous 4 Bed/2 Bath home is sure to impress! Sought after Winter Park schools and a great location! An inviting, covered front porch and striking blue double-doors welcome you to the vaulted ceiling entry with lots of natural light. Once inside, the spacious combined living & dining room lead to the heart of the home – a fantastic custom kitchen by S&W Kitchens! Stainless appliances including Bosch dishwasher, built-in double ovens with warming drawer, cooktop, wine refrigerator, custom cabinetry, granite counters, skylight & wood floors! Half-moon sink overlooks the large breakfast bar and family room. The spacious Family room featuring wood floors and crown molding, opens to large deck with Sunsetter retractable awnings! Year-round enjoyment with new “Kool Deck” & PebbleTec pool, a lovely grill deck & fire pit area. The primary bedroom boasts wood floors, double closets, granite dual vanities, and a private glass door to the pool area. Hallway connecting the foyer & family room leads to bedrooms 2, 3 and 4 along with a large, updated bathroom. Through the sliding barn door, you’ll love the indoor custom laundry room with built-in shelves, included washer & dryer, and view of the pool deck. Meticulously maintained & ready for its new owners, recent improvements include: Replumbed in 2020, updated master bath (2020), pool & deck surfaced (2020), Electrical Rewiring (2018). Schedule a showing today, before this amazing opportunity is gone!

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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: Howell Forests

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $110k404k

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

Neighborhood: Howell Forests

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10292583

* 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
Dommerich Elementary School Primary Regular 603 40 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Dommerich Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 40
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
 

$413,910$505,890$459,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,697
Property Tax -$479
Property Insurance -$163
Property Management Fees -$212
CASH FLOW
-$200

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.

$459,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.8%
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$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$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$11,831

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,590

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,945
1$1,9452$2,3503$2,6004$2,6955$2,895
$2,895
RENT COMPS ANALYSIS
  • 2900 Lolissa Ln Winter Park, FL 2
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.11
    •  
  • 719 Kewannee Trl Maitland, FL 1
    • 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 1965
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.01
    •  
  • 2602 Chinook Trl Maitland, FL 3
    • 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 1965 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 1965
    property image
    LEASED 11/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.24
    •  
  • 1236 Via Del Mar Winter Park, FL 4
    • 3 beds 3 baths ∙ 2,117 Sqft ∙ Built 1958 3 beds 3 baths ∙ 2,117 Sqft ∙ Built 1958
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.27
    •  
  • 1625 Tioga Trl Winter Park, FL 5
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 1969
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.36
    •  
PROPERTY LISTING DETAILS
Matthew Matin
1.321.948.5857
Clock Tower Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5905440
Last Updated: 11/13/2020
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