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664 Home Grove Dr Winter Garden, FL 34787

4 Beds 3 Baths 2,483 sqft Built 2004

$415,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $167.14
  • 2 Days on Market
  • MLS # : O5902721
  • Updated Date : 11/02/2020 at 18:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,483 sqft
  • Baths : 2 full , 1 half
Listing Agent

Real Living R E Solutions

Listing Agent's Description

Here is your opportunity to own a pristine home, located in the highly desired city of Winter Garden!!! This property has been kept in mint condition, and has been recently updated for future new homeowners. Some of the items that have been updated are a brand new roof installed in 2018 with a ten year workmanship warranty which is transferable to a new owner, a 2019 A/C, and a 2019 smart thermostat. The property features 4 bedrooms, 2 1/2 baths, and a bonus room, all under 2500 Sq Ft. The spacious kitchen has been recently given a full makeover with refreshed cabinets, backsplash, quartz countertops, and over-the-cabinet lights. Also, all appliances are included within the kitchen. The laundry room has been given a 2019 washer and dryer, along with new cabinets and a butcher block countertop. The family room is located on the first floor and comes with a integrated home theater, featuring ceiling speakers for the latest in sound technology! All of the bedrooms are located upstairs on the second floor, including the bonus room. The master bedroom suite features a sunken floor, two walk-in closets, and spacious master bath with a garden tub/shower stall. The garage includes a insulated garage door and a smart garage door opener with a battery backup. In the backyard, you will find a enclosed screened swimming pool with a pool deck that has been repainted, along with a extended paver patio. The pool includes a child safety fence, a robotic pool vacuum cleaner, and a variable speed pool pump. The back yard is fully fenced, with extra lawn space for your four legged family members! The landscaping features a array of natural Colorado River rocks, to bring a refreshing and distinct style to your back and front yard. The house is installed with surveillance cameras, a fully wired Ethernet connection, and water softeners. The property has recently got it's exterior repainted and the backyard comes with light bulb strings for your enjoyment during the nighttime! Regency Oaks is a community centrally located near local shopping centers, restaurants, entertainment, hospitals, major highways, and the famously historic Downtown Winter Garden.

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: 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
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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,531
Property Tax -$457
Property Insurance -$185
HOA -$83
Property Management Fees -$197
CASH FLOW
-$262

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.

$415,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.53%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,026

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,055

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,0003$2,0904$2,1405$2,190
$2,190
RENT COMPS ANALYSIS
  • 664 Home Grove Dr Winter Garden, FL 5
    • 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.88
    •  
  • 602 Lost Grove Cir Winter Garden, FL 1
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2009
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 531 Setting Sun Dr Winter Garden, FL 2
    • 4 beds 2 baths ∙ 2,339 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,339 Sqft ∙ Built 2005
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 12893 Daughtery Dr Winter Garden, FL 3
    • 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2006
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.83
    •  
  • 13162 Moro Ct Winter Garden, FL 4
    • 5 beds 3 baths ∙ 2,521 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,521 Sqft ∙ Built 2008
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.85
    •  
PROPERTY LISTING DETAILS
Liz Jennifer Vazquez
1.407.902.9354
Real Living R E Solutions
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902721
Last Updated: 11/02/2020
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