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3632 Hedgewood Dr Winter Park, FL 32792

4 Beds 2 Baths 1,378 sqft Built 1964

$295,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $214.08
  • 2 Days on Market
  • MLS # : S5047717
  • Updated Date : 03/13/2021 at 09:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,378 sqft
  • Baths : 2 full
Listing Agent

The Corcoran Connection Llc

Listing Agent's Description

One or more photo(s) has been virtually staged. Welcome to Winter Park living! This adorable 4 bedroom 2 bath home is waiting for it’s new owners and that could be you!! As you enter, you are welcomed into the open living space with plenty of room for entertaining and easy access to the backyard through the sliding glass doors. The galley kitchen is complete with all appliances and a newer refrigerator with a separate eating space. The owners suite is spacious and has lots of great natural lighting and an en-suite. The backyard is large with plenty of space to bbq and entertain your guests. One or more photos are virtually staged.

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: 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
Lakemont Elementary School Primary Regular 656 45 8
Maitland Middle School Middle Regular 909 48 5
Winter Park High School High Magnet 3,069 164 7

Lakemont Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 45
8
GreatSchools Rating

Maitland Middle School

  • Education Level: Middle
  • # of students: 909
  • # of teachers: 48
5
GreatSchools Rating

Winter Park High School

  • Education Level: High
  • # of students: 3,069
  • # of teachers: 164
7
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,025
Property Tax -$308
Property Insurance -$118
Property Management Fees -$129
CASH FLOW
-$110

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.

$295,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 9.8%
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

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,262

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,430

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4674$1,4705$1,500
$1,500
RENT COMPS ANALYSIS
  • 3632 Hedgewood Dr Winter Park, FL 4
    • 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.07
    •  
  • 4965 Orange Ave Winter Park, FL 1
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1959
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 910 Mare Bello Dr Winter Park, FL 2
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1964
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
  • 717 Denton Rd Winter Park, FL 3
    • 4 beds 2 baths ∙ 1,411 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,411 Sqft ∙ Built 1961
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,467
    • $1.04
    •  
  • 5415 Albert Dr Winter Park, FL 5
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1977
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
PROPERTY LISTING DETAILS
Jeanine Corcoran
1.407.922.3308
The Corcoran Connection Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5047717
Last Updated: 03/13/2021
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