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5521 New Independence Pkwy Winter Garden, FL 34787

5 Beds 3 Baths 2,240 sqft Built 2012

$363,900

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $162.46
  • 7 Days on Market
  • MLS # : O5916133
  • Updated Date : 01/15/2021 at 11:53
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,240 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Fabulous 5 bedroom, 3 bathroom, two-story home in the community of Signature Lakes in Winter Garden. This home features a formal living room and dining room with laminate floors and high ceilings. The kitchen boasts granite countertops, stainless steel appliances, 42" cabinets, backsplash, and a breakfast bar that opens to the eat-in kitchen area. The first floor also includes a guest bedroom, a full bathroom, and a laundry room. The second floor features a spacious primary bedroom with a walk-in closet and a private bathroom with double vanity sinks, a garden bathtub, and a separate tiled shower. The sliding glass doors open to the covered lanai and fenced backyard. This home features a 2-car rear entry garage, and the community amenities include community pools, clubhouses, tennis & basketball courts, an arcade, fitness center, and multiple parks and trails throughout.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Signature Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $110k418k

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

Neighborhood: Signature Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10292320

* 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
 

$327,510$400,290$363,900

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,264
Property Tax -$426
Property Insurance -$170
HOA -$168
Property Management Fees -$129
CASH FLOW
-$37

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.

$363,900

PROJECTED PRICE

$2,120

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
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$0.0$5.0k$10k$15k

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$102,184

INVESTMENT

$102,184

Down Payment
$90,975
Rehab Estimate
$5,750
Closing Costs
$5,459

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,264

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,975
Loan Amount $272,925
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,120
1$2,1202$2,1503$2,1954$2,2005$2,275
$2,275
RENT COMPS ANALYSIS
  • 5521 New Independence Pkwy Winter Garden, FL 1
    • 5 beds 3 baths ∙ 2,240 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,240 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.95
    •  
  • 15025 Valverse Aly Winter Garden, FL 2
    • 4 beds 4 baths ∙ 2,306 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,306 Sqft ∙ Built 2018
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.93
    •  
  • 15517 Camp Dubois Cres Winter Garden, FL 3
    • 5 beds 3 baths ∙ 2,428 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,428 Sqft ∙ Built 2014
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.90
    •  
  • 15025 Evergreen Oak Loop Winter Garden, FL 4
    • 4 beds 4 baths ∙ 2,405 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,405 Sqft ∙ Built 2016
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 15055 Driftwater Dr Winter Garden, FL 5
    • 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 2017
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.96
    •  
PROPERTY LISTING DETAILS
Veronica Figueroa
1.407.329.9500
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916133
Last Updated: 01/15/2021
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