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464 Fort Collins Ct #2 Ocoee, FL 34761

3 Beds 1 Baths 1,228 sqft Built 1981

$230,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $187.30
  • 7 Days on Market
  • MLS # : O5910415
  • Updated Date : 12/09/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,228 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Classic

Listing Agent's Description

OWNER SAYS BRING OFFERS! Ocoee home with great potential located in a well establish community. The main living area has been expanded to offer plenty of living space. All of the bedrooms have good closet space so the last thing you have to worry about is not having enough storage. The NEWER sliding glass doors lead you to a spacious backyard. The backyard also over a covered patio and outdoor storage shed for your outdoor tools. Come take at this home before its gone!

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: Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280kPrice in $54k280k

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

Neighborhood: Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500160017001800Rent in $6551877

* 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$849
Property Tax -$291
Property Insurance -$109
Property Management Fees -$129
CASH FLOW
-$207

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.

$230,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,650

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,093

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$825
1$8252$1,1003$1,1704$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 464 Fort Collins Ct #2 Ocoee, FL 3
    • 3 beds 1 baths ∙ 1,228 Sqft ∙ Built 1981 3 beds 1 baths ∙ 1,228 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.95
    •  
  • 1208 Willow Creek Rd Ocoee, FL 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1979
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $825
    • $0.69
    •  
  • 1203 Oakwood Ln Ocoee, FL 2
    • 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1976
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.91
    •  
  • 906 Alaska Dr Ocoee, FL 4
    • 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 1961
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 1997 Hedgerow Cir Ocoee, FL 5
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1993
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
PROPERTY LISTING DETAILS
John Cunningham
1.407.801.4141
Keller Williams Classic
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5910415
Last Updated: 12/09/2020
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