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5119 Ferncrest Dr Winter Park, FL 32792

3 Beds 2 Baths 1,500 sqft Built 1969

INVESTimate

$260,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$282,932  ( +8.82%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1969
  • Price/Sqft : $173.33
  • 2 Days on Market
  • MLS # : O5887089
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Lock N Key Realty Llc

Listing Agent's Description

Welcome to this move in ready 3/2 split bedroom pool home. Its size is deceiving from the outside because of an additional family room that was added years ago! This home's exterior was recently painted, has a newer roof, updated electrical panels, kitchen update complete with granite counters and soft close drawers. New wood look tile planking in main living areas,master, kitchen and laundry room. Master bath has a custom rustic tiled shower, dual flush commode & new vanity with granite countertop. Step outside to imagine yourself relaxing by the pool/spa with oversized fenced back yard, plenty of space for BBQ, patio areas , fire-pit/chiminea... or back inside to the family-room & the wood burning fireplace. This home has something for everyone! Living Room, family room and all 3 bedrooms have ceiling fans. Interior laundry and covered rear patio are added bonus features. This home is nestled in a quaint area with sidewalks for those who enjoy strolling about the neighborhood. With just a little bit of love and attention would be a great starter home or as a buy and hold investor looking for a rental property. All this AND Seminole County Schools. Near UCF, Restaurants, Shopping, Grocery stores. Convenient to (Semoran) 436, and the 417.

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: Woodcrest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $103k293k

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

Neighborhood: Woodcrest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7972002

* 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
 

$234,000$286,000$260,000

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$959
Property Tax -$260
Property Insurance -$126
Property Management Fees -$149
CASH FLOW
$157

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.

$260,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.82%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$28,384

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
  • $1.1

    LIST RENT PER SQFT
  • $1,478

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,4004$1,6505$1,749
$1,749
RENT COMPS ANALYSIS
  • 5119 Ferncrest Dr Winter Park, 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
  • 7422 Grand Ave Winter Park, 1
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1975
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.90
    •  
  • 4965 Orange Ave Winter Park, 2
    • 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
    •  
  • 5171 N Orange Ave Winter Park, 3
    • 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1960
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.06
    •  
  • 7140 Citrus Ave Winter Park, 5
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1972
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.05
    •  
PROPERTY LISTING DETAILS
Lesley Wilson Vangoethem
1.407.620.2434
Lock N Key Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887089
Last Updated: 08/26/2020
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