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331 Bridge Creek Blvd Ocoee, FL 34761

3 Beds 2 Baths 1,681 sqft Built 1995

$329,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $195.72
  • 2 Days on Market
  • MLS # : T3274027
  • Updated Date : 11/03/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,681 sqft
  • Baths : 2 full
Listing Agent

Addvantage Real Estate Services Llc

Listing Agent's Description

You will fall in love with this 3 bedroom 2 bath house in the gated community of Cross Creek. The house is move-in ready and has a newer roof from 2017 and new plumbing throughout in 2019. The backyard pool and courtyard are ready to entertain family and friends. A large open floor plan with vaulted ceilings and a perfectly place skylight allows for plenty of sunlight to fill the house. The craftsman kitchen has stainless steel appliances and a great view of the family room and the large sliding doors opening to the Lanai. The Master bedroom has a oversized walk-in closet with plenty of upper storage. The Living/Dining room combo has a long shiplap wall that gives a very custom feel. A large landscaped court yard surrounds the pool with vinyl fencing adding additional privacy. The community of Cross Creek has a large community pool, courts, and play areas.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Neighborhood: Cross Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $110k331k

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

Neighborhood: Cross Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9362089

* 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
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,214
Property Tax -$416
Property Insurance -$136
HOA -$83
Property Management Fees -$165
CASH FLOW
-$184

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.

$329,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.1%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,547

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,563

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,5503$1,7004$1,7955$1,830
$1,830
RENT COMPS ANALYSIS
  • 331 Bridge Creek Blvd Ocoee, FL 5
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.09
    •  
  • 556 Saddell Bay Loop Ocoee, FL 1
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1997
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.83
    •  
  • 611 Darkwood Ave Ocoee, FL 2
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1998
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 320 Longshadows Ct Ocoee, FL 3
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1995
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 2536 Cliffdale St Ocoee, FL 4
    • 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1999
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
PROPERTY LISTING DETAILS
Keith Gordon
1.727.610.8041
Addvantage Real Estate Services Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3274027
Last Updated: 11/03/2020
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