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3231 Lowndes Dr Winter Park, FL 32792

4 Beds 2 Baths 1,749 sqft Built 1965

$349,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $199.54
  • 3 Days on Market
  • MLS # : O5912380
  • Updated Date : 12/19/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,749 sqft
  • Baths : 2 full
Listing Agent

Florida Prestigious Homes Inc

Listing Agent's Description

Located in beautiful Winter Park, this home's location just minutes from downtown Winter Park, Baldwin Park, along with great schools. Sitting on a large oversized corner lot, rear yard is spacious and inviting, perfect for a home garden along with space for a pool and more. The detached screened-in pad is perfect for outdoor spa, meditation or outdoor gym area. Spacious floorplan with an eat in kitchen opens up to a cozy family room and separate dining room. New garage door in 2019, New roof 2018, Fresh paint inside and out, natural gas heated water. Ceramic tile throughout. Inside laundry room allows for extreme convenience. Close to shopping and dining, the location is central for all the Orlando area has to offer

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: Georgetown Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $107k293k

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

Neighborhood: Georgetown Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9652002

* 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
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,288
Property Tax -$364
Property Insurance -$141
Property Management Fees -$129
CASH FLOW
-$301

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.

$349,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.0%
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-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,171

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,587

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,3953$1,5134$1,6205$1,650
$1,650
RENT COMPS ANALYSIS
  • 3231 Lowndes Dr Winter Park, FL 4
    • 4 beds 2 baths ∙ 1,749 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,749 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.93
    •  
  • 2936 Abbey Ct Winter Park, FL 1
    • 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 1963
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.78
    •  
  • 203 N Ranger Blvd Winter Park, FL 2
    • 4 beds 2 baths ∙ 1,559 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,559 Sqft ∙ Built 1962
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 1724 Peruvian Ln Winter Park, FL 3
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1960
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,513
    • $0.94
    •  
  • 212 N Ranger Blvd Winter Park, FL 5
    • 4 beds 2 baths ∙ 1,615 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,615 Sqft ∙ Built 1963
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
PROPERTY LISTING DETAILS
Ian Trumbach
1.954.718.3689
Florida Prestigious Homes Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5912380
Last Updated: 12/19/2020
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