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470 Fort Collins Ct Ocoee, FL 34761

3 Beds 1 Baths 1,000 sqft Built 1981

$194,000

List Price

$1,040

$936 - $1.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $194.00
  • 3 Days on Market
  • MLS # : O5916368
  • Updated Date : 01/15/2021 at 20:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,000 sqft
  • Baths : 1 full
Listing Agent

William Thomas Comer

Listing Agent's Description

Don't miss the opportunity to own this adorable ranch home in Ocoee. This 3 bedroom, 1 bathroom home is just waiting for you to put your personal touches to it. The home is made of concrete block and has a one car attached garage. The large fenced backyard is perfect for a dog, parties and playing. There is a screened porch and open patio perfect for a grill. The location is great with easy access to Orlando, Winter Garden and the 408 as well as the Turnpike.

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: 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
 

$174,600$213,400$194,000

PURCHASE PRICE

$936$1,144$1,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,040
EXPENSES Loan Payment -$674
Property Tax -$245
Property Insurance -$96
Property Management Fees -$129
CASH FLOW
-$104

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.

$194,000

PROJECTED PRICE

$1,040

PROJECTED RENT

0.54%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,160

INVESTMENT

$57,160

Down Payment
$48,500
Rehab Estimate
$5,750
Closing Costs
$2,910

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$674

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,500
Loan Amount $145,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$3,432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,040

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $830

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$825
1$8252$1,0403$1,0504$1,1005$1,100
$1,100
RENT COMPS ANALYSIS
  • 470 Fort Collins Ct Ocoee, FL 2
    • 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1981 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,040
    • $1.04
    •  
  • 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
    •  
  • 1514 Prairie Lake Blvd Ocoee, FL 3
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1986
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.84
    •  
  • 1203 Oakwood Ln Ocoee, FL 4
    • 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
    •  
  • 1417 Prairie Lake Blvd Ocoee, FL 5
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
William Comer
1.407.619.6196
William Thomas Comer
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916368
Last Updated: 01/15/2021
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