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3380 Balsam Dr Winter Park, FL 32792

3 Beds 2 Baths 1,633 sqft Built 1967

INVESTimate

$310,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$340,256  ( +9.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1967
  • Price/Sqft : $189.83
  • 2 Days on Market
  • MLS # : O5887777
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,633 sqft
  • Baths : 2 full
Listing Agent

Commercial Homes & Land Inc

Listing Agent's Description

Location, Location, Location! Amazing Opportunity to Own this beautiful 3 bedrooms 2 baths in the desirable Eastbrook community in Winter Park. New Roof installed in Aug 2020, New granite counter tops, freshly painted inside and outside and more... No HOA Fees! Great schools and amenities in the area. Conveniently located to UCF, Full Sail, Rollins College, Downtown Orlando, Altamonte Mall, Shopping Centers and more. HURRY!! This home will not last long.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Eastbrook

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k293k

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

Neighborhood: Eastbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8192002

* 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
Eastbrook Elementary School Primary Regular 809 57 5
Tuskawilla Middle School Middle Regular 1,080 57 5
Lake Howell High School High Regular 2,229 117 6

Eastbrook Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 57
5
GreatSchools Rating

Tuskawilla Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 57
5
GreatSchools Rating

Lake Howell High School

  • Education Level: High
  • # of students: 2,229
  • # of teachers: 117
6
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,144
Property Tax -$309
Property Insurance -$134
Property Management Fees -$149
CASH FLOW
-$85

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.

$310,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 9.76%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$9,245

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,662

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5133$1,6504$1,6505$1,925
$1,925
RENT COMPS ANALYSIS
  • 3380 Balsam Dr Winter Park, 4
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 7400 Betty St Winter Park, 1
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1980
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 1724 Peruvian Ln Winter Park, 2
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1960
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,513
    • $0.94
    •  
  • 2318 Eastbrook Blvd Winter Park, 3
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1967
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
  • 3417 Ferndell Dr Winter Park, 5
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1966
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.07
    •  
PROPERTY LISTING DETAILS
Virginia Perez Feliciano
1.407.864.8197
Commercial Homes & Land Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887777
Last Updated: 08/26/2020
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