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318 S Ranger Blvd Winter Park, FL 32792

4 Beds 2 Baths 1,736 sqft Built 1965

$300,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $172.81
  • 5 Days on Market
  • MLS # : O5905358
  • Updated Date : 11/13/2020 at 11:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,736 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Winter Park

Listing Agent's Description

Multiple offers, submit all offers by 5pm EST on Sunday 11.15.2020 Welcome to the Winter Park Pines, with tree-lined streets and the mailman that delivers to your door! Walk up the drive-way and past a charming brick flower/planter box and into this lovely home. As you head down the hall and take an immediate left you will find the master bedroom at the end of the hall. This bedroom has lovely TERRAZZO flooring, plenty of closet space and is big enough for a king bedroom set! The master bathroom features a walk in shower and extra storage above the toilet. Immediately out of the master bedroom door and to the right you will find a light and bright second bedroom which also has beautiful terrazzo flooring. Continuing down the hall to the right is the third bedroom and has plenty of closet space and terrazzo flooring. Directly across the hall is the second bathroom which features a DOUBLE SINK vanity, bathtub/shower combo and extra storage above the toilet. The fourth bedroom is down the hall to the left and has beautiful natural light shining through the window. There is an additional closet in the hall as you make your way to the living room for extra storage. The living room has beautiful windows that overlook the backyard and let in just the right amount of natural light. The living room leads to a formal dining space with sliding glass doors that overlooks the back patio. The kitchen is open and bright and features a stainless steel refrigerator, oven and dishwasher. The dining room is directly behind the kitchen (or can be used as a second living space) and features a beautiful WOOD-BURNING fireplace. The sliding glass doors off of the dining room will lead you to the LARGE SCREENED-IN patio that has plenty of room for multiple seating areas and other activities. The patio leads to the GENEROUS SIZED and completely fenced backyard. You won't want to miss the opportunity to see this lovely home! HVAC - 2014, Electrical Panel Replaced - 2014; Smart features include Ring Doorbell, Ring Smoke Alarm, Smart Garage Door Opener Convey.

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 Pines

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k363k

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

Neighborhood: Winter Park Pines

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10292194

* 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,107
Property Tax -$382
Property Insurance -$140
Property Management Fees -$180
CASH FLOW
$191

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.

$300,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$35,942

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,714

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5953$1,6504$1,8505$2,000
$2,000
RENT COMPS ANALYSIS
  • 318 S Ranger Blvd Winter Park, FL 5
    • 4 beds 2 baths ∙ 1,736 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,736 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.15
    •  
  • 203 N Ranger Blvd Winter Park, FL 1
    • 4 beds 2 baths ∙ 1,559 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,559 Sqft ∙ Built 1962
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 2805 Little John Rd Winter Park, FL 2
    • 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 1966
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 212 N Ranger Blvd Winter Park, FL 3
    • 4 beds 2 baths ∙ 1,615 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,615 Sqft ∙ Built 1963
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 2859 Sheriff Way Winter Park, FL 4
    • 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 1964
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
PROPERTY LISTING DETAILS
Amy Turner
1.407.803.3885
Keller Williams Winter Park
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5905358
Last Updated: 11/13/2020
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