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629 Marsh Reed Dr Winter Garden, FL 34787

4 Beds 3 Baths 2,618 sqft Built 2015

$410,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $156.61
  • 7 Days on Market
  • MLS # : O5904989
  • Updated Date : 11/13/2020 at 09:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,618 sqft
  • Baths : 2 full , 1 half
Listing Agent

Preferred Real Estate Brokers

Listing Agent's Description

Prepare to fall in love with your new home! Located in the desirable community of Johns Lake Pointe in Winter Garden, you will immediately want to call this place home. Greeting you with beautiful tile flooring into an expansive open floor plan that is designed for entertaining. Beautiful kitchen with granite countertops, stainless appliances, large pantry, and double oven opens to the warm and inviting family room and dining combo. From the kitchen, look out to the beautiful backyard where more entertaining possibilities await! Downstairs also includes a Den, perfect for your Home Office. Upstairs you will find the Spacious Master Retreat with walk in closet space and an ensuite to indulge in at the end of a long day. There are also 3 other bedrooms that share a nicely sized bathroom with a double vanity. To top it all off, the loft can be anything you desire! The community also offers a Community Pool, Fitness Center, Playground, and Tennis Courts for all your recreational pleasure! Don't miss this wonderful opportunity! Make an appointment today!

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: Johns Lake Point

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $110k547k

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

Neighborhood: Johns Lake Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10292824

* 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
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,513
Property Tax -$451
Property Insurance -$193
HOA -$117
Property Management Fees -$195
CASH FLOW
-$298

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.

$410,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 4.0%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,310

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,170
1$2,1702$2,1953$2,2004$2,2005$2,350
$2,350
RENT COMPS ANALYSIS
  • 629 Marsh Reed Dr Winter Garden, FL 1
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.83
    •  
  • 14470 Breakwater Way Winter Garden, FL 2
    • 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2016
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.86
    •  
  • 15145 Spinnaker Cove Ln Winter Garden, FL 3
    • 4 beds 2 baths ∙ 2,528 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,528 Sqft ∙ Built 2005
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 13242 Fox Glove St Winter Garden, FL 4
    • 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2005
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 555 Marsh Reed Dr Winter Garden, FL 5
    • 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2013
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
PROPERTY LISTING DETAILS
Dayna Dallas
1.407.222.8808
Preferred Real Estate Brokers
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904989
Last Updated: 11/13/2020
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