Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3316 Mccormick Woods Dr Ocoee, FL 34761

4 Beds 2 Baths 2,553 sqft Built 2014

$371,800

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $145.63
  • 3 Days on Market
  • MLS # : O5923018
  • Updated Date : 02/12/2021 at 18:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,553 sqft
  • Baths : 2 full
Listing Agent

La Rosa Realty Kissimmee

Listing Agent's Description

Welcome to this warm maintained home with the only one owner. Fresh exterior painted. It comes with many upgrades, see attached doc. Excellent location in Ocoee's gated McCormick Woods. This M/I Homes “Sunstone II” floor plan features 4 bedrooms, 2 bathrooms, a flex room with double door can be used as an office or extra bedroom. Spacious open floor plan with high ceilings, Sliders off the living room lead out to the homes large, covered lanai with no neighbors on the back. You will appreciate the open floor plan w/large kitchen on the right side that opens to the family room & dining area. The kitchen has many upgrades - 42" wall cabinets with crown molding and hardware, granite counters, custom backsplash, breakfast bar, island, stainless steel appliances, new stove & closet pantry. The entrance and owner's suite has vaulted tray ceilings, Owner’s suite is separate from the other bedrooms for privacy, has a large closet and an en-suite bathroom. The bathroom has double separate sinks, a garden tub and separate large, tiled shower. All bedrooms have fan, 6 ceiling fans. Bathrooms upgraded with marble edge. Floor tile in foyer, kitchen, all bathrooms, and laundry room. Baseboards 5 1/4. Security system connection. The laundry room offers whirlpool front load H E dryer and washer plus hand laundry tub and extra hose bib. Recent installation gutter all around house and update irrigation system, new trees, plants (Oct 2020). Community features a pool, sand volleyball court and playground and is convenience located with easy access to the freeway 429, 408, very close to Forest Lake Golf Club and the West Orange Trail. Just 30 minutes from Theme parks.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: McCormick Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $109k382k

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

Neighborhood: McCormick Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9362338

* 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
Prairie Lake Elementary School Primary Regular 1,081 71 3
Ocoee Middle School Middle Regular 1,375 73 3
Ocoee High School High Regular 2,243 106 4

Prairie Lake Elementary School

  • Education Level: Primary
  • # of students: 1,081
  • # of teachers: 71
3
GreatSchools Rating

Ocoee Middle School

  • Education Level: Middle
  • # of students: 1,375
  • # of teachers: 73
3
GreatSchools Rating

Ocoee High School

  • Education Level: High
  • # of students: 2,243
  • # of teachers: 106
4
GreatSchools Rating
 

$334,620$408,980$371,800

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,291
Property Tax -$470
Property Insurance -$189
HOA -$96
Property Management Fees -$129
CASH FLOW
-$95

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.

$371,800

PROJECTED PRICE

$2,080

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 3.1%
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$12k

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$104,277

INVESTMENT

$104,277

Down Payment
$92,950
Rehab Estimate
$5,750
Closing Costs
$5,577

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,950
Loan Amount $278,850
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,718

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,972

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$1,9503$2,0804$2,1505$2,300
$2,300
RENT COMPS ANALYSIS
  • 3316 Mccormick Woods Dr Ocoee, FL 3
    • 4 beds 2 baths ∙ 2,553 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,553 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.81
    •  
  • 2771 Pythagoras Cir Ocoee, FL 1
    • 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2009
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.77
    •  
  • 2772 Pythagoras Cir Ocoee, FL 2
    • 4 beds 3 baths ∙ 2,717 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,717 Sqft ∙ Built 2008
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.72
    •  
  • 3552 Macauley Ct Ocoee, FL 4
    • 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2006
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.80
    •  
  • 3570 Strachey Ct Ocoee, FL 5
    • 5 beds 3 baths ∙ 2,868 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,868 Sqft ∙ Built 2005
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
PROPERTY LISTING DETAILS
Orlando Davila
1.407.529.5903
La Rosa Realty Kissimmee
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5923018
Last Updated: 02/12/2021
BESbswy