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621 Groves End Ln Winter Garden, FL 34787

4 Beds 2 Baths 1,972 sqft Built 2004

$359,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $182.51
  • 3 Days on Market
  • MLS # : O5920094
  • Updated Date : 01/30/2021 at 17:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,972 sqft
  • Baths : 2 full
Listing Agent

Fl Pro Brokers Llc

Listing Agent's Description

IMMACULATE, WATERFRONT 4 bed, 2 bath home with CONSERVATION VIEWS. This fully updated home is in perfect condition: new roof, AC, paint, wired audio, and included home warranty. This immaculate home has every upgrade including: Granite counters, Stainless appliances, open layout design, new custom window treatments, tile and wood floors, and instant hot water heat just to name a few. Enjoy your huge $30,000+ covered patio/outdoor living space that has beautiful views of water with a fountain and conservation area. This community has many amenities: playground, resort pool, clubhouse, and tennis court. Highly requested location in Winter Garden/Horizon West just a few minutes from Winter Garden Village Mall, New schools, hospitals, and near all the expressways for easy commuting.

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: Regency Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k361k

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

Neighborhood: Regency Oaks

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
Sunridge Elementary School Primary Unknown 720 46 NA
Sunridge Middle School Middle Unknown 1,260 64 NA
West Orange High School High Regular 3,835 178 6

Sunridge Elementary School

  • Education Level: Primary
  • # of students: 720
  • # of teachers: 46
NA
GreatSchools Rating

Sunridge Middle School

  • Education Level: Middle
  • # of students: 1,260
  • # of teachers: 64
NA
GreatSchools Rating

West Orange High School

  • Education Level: High
  • # of students: 3,835
  • # of teachers: 178
6
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,250
Property Tax -$396
Property Insurance -$154
HOA -$83
Property Management Fees -$129
CASH FLOW
-$52

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.

$359,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 6.4%
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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,213

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,928

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,9504$1,9605$2,195
$2,195
RENT COMPS ANALYSIS
  • 621 Groves End Ln Winter Garden, FL 4
    • 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.99
    •  
  • 350 Lake Amberleigh Dr Winter Garden, FL 1
    • 3 beds 2 baths ∙ 1,953 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,953 Sqft ∙ Built 2002
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 333 Lake Amberleigh Dr Winter Garden, FL 2
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2001
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 13060 Social Ln Winter Garden, FL 3
    • 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 2005
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.00
    •  
  • 336 Spring Leap Cir Winter Garden, FL 5
    • 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 2005
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.03
    •  
PROPERTY LISTING DETAILS
Michael Blank
1.407.595.0144
Fl Pro Brokers Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5920094
Last Updated: 01/30/2021
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