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6608 Bridgewater Village Rd Windermere, FL 34786

3 Beds 2 Baths 2,115 sqft Built 2014

$399,900

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $189.08
  • 111 Days on Market
  • MLS # : O5893821
  • Updated Date : 01/08/2021 at 15:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,115 sqft
  • Baths : 2 full
Listing Agent

Premier Sothebys Int'l Realty

Listing Agent's Description

Welcome to this meticulously maintained 3-bedroom, 2-bath plus bonus room home nestled in The Vineyards community located in the heart of Windermere. Inside you’ll find an open floor plan with beautiful wood grain tile floors and tons of natural light. The gourmet kitchen boasts a gas range, all stainless steel appliances, granite countertops, a large center island/breakfast bar, and gorgeous 42” cabinets. This split bedroom layout features a luxurious master suite with tray ceilings and a master bathroom with dual vanities, a step-in shower, separate soaking tub and an oversized custom walk-in closet. The home also features a bonus room ideal for an office/den or 4th bedroom. The rear covered lanai steps out to an all-new screened-in patio and large fenced-in yard perfect for outdoor entertaining. The Vineyards amenities include a community pool, playground/parks and scenic green spaces. Lawn maintenance is also included. This wonderful community is zoned for Windermere High School.

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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: Summerport Village Center

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $110k508k

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

Neighborhood: Summerport Village Center

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10293062

* 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
Keene's Crossing Elementary School Primary Regular 1,191 78 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Keene's Crossing Elementary School

  • Education Level: Primary
  • # of students: 1,191
  • # of teachers: 78
9
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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,389
Property Tax -$468
Property Insurance -$162
HOA -$190
Property Management Fees -$129
CASH FLOW
-$239

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.

$399,900

PROJECTED PRICE

$2,100

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 2.6%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,040

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,120

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$2,1004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 6608 Bridgewater Village Rd Windermere, FL 4
    • 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 13839 Bridgewater Crossings Blvd Windermere, FL 1
    • 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2015
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.01
    •  
  • 13324 Longacre Dr Windermere, FL 2
    • 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2013
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
  • 14309 Pleach St Winter Garden, FL 3
    • 3 beds 3 baths ∙ 2,071 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,071 Sqft ∙ Built 2010
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 6705 Burnley Ln Windermere, FL 5
    • 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2014
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jules Carneiro
1.407.509.4994
Premier Sothebys Int'l Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5893821
Last Updated: 01/08/2021
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