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5017 Lighterwood Ct Ocoee, FL 34761

3 Beds 2 Baths 1,246 sqft Built 1990

$239,995

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $192.61
  • 2 Days on Market
  • MLS # : O5908612
  • Updated Date : 11/29/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,246 sqft
  • Baths : 2 full
Listing Agent

Centric Realty Services Llc

Listing Agent's Description

Lovely neighborhood and cozy home await you! The home is on a large lot and cul-de-sac and close to stores and highways.

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: Sawmill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $106k280k

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

Neighborhood: Sawmill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8711877

* 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
 

$215,996$263,995$239,995

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$885
Property Tax -$303
Property Insurance -$110
HOA -$13
Property Management Fees -$122
CASH FLOW
-$74

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.

$239,995

PROJECTED PRICE

$1,360

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 11.7%
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

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,349

INVESTMENT

$69,349

Down Payment
$59,999
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,999
Loan Amount $179,996
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,096

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1003$1,1504$1,3605$1,595
$1,595
RENT COMPS ANALYSIS
  • 5017 Lighterwood Ct Ocoee, FL 4
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.09
    •  
  • 1514 Prairie Lake Blvd Ocoee, FL 1
    • 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
    •  
  • 1417 Prairie Lake Blvd Ocoee, FL 2
    • 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
    •  
  • 5007 Shale Ridge Trl Orlando, FL 3
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2004
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.78
    •  
  • 8034 Equitation Ct Orlando, FL 5
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1994
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
PROPERTY LISTING DETAILS
Abdias Alexandre
1.407.421.9391
Centric Realty Services Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5908612
Last Updated: 11/29/2020
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