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6745 Merrick Landing Blvd Windermere, FL 34786

4 Beds 3 Baths 2,635 sqft Built 2014

$409,997

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $155.60
  • 41 Days on Market
  • MLS # : O5910039
  • Updated Date : 01/21/2021 at 21:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,635 sqft
  • Baths : 2 full , 1 half
Listing Agent

La Rosa Rty Winter Garden Llc

Listing Agent's Description

MAJOR PRICE CUT FOR QUICK SALE!!! Welcome Home! Your Search is now over! This rare and amazing opportunity is awaiting you in one of the most sought after community in Windermere, FL. This residence offers more than $34K in Upgrades. YOU WILL HAVE TO SEE FOR YOURSELF. Built by KB Home in 2014, this residence has all that you need to live in luxury and the original owners take pride in updating through out the years. Ceramic tile through out the first floor, expensive wood blinds, engineering bamboo wood flooring on the second floor, crown molding all over, screen porch, new stove and microwave, refrigerator and much more. All stainless steel. Energy efficient, tons of natural lights, gourmet kitchen makes this home the perfect residence for you. Wait, the community offers 2 pools, dog parks, cabana, water fountains and you don't have to worry about taken care of the lawn as it's part of the HOA assessment. This residence is located next to the all new A graded Windermere high school and the renown Windermere Preparatory School, you can see the fireworks from the world most famous theme park from your master bedroom, driveway and front porch and you can just jog to the Winter Garden Village Mall and hospital. Put and end to your search and start living and enjoy life in this almost to 2700 Sf home for this price. Don't be wishing that you came, just come view this property today as it will not last. Information entered in the MLS deems accurate but not guaranteed. Buyers and or their agents are advised to independently verify any content such has home square footage, HOA restrictions or any other thing that is important to them. HOME IS SOLD AS-IS.

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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: 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
 

$368,997$450,997$409,997

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,424
Property Tax -$480
Property Insurance -$194
HOA -$190
Property Management Fees -$129
CASH FLOW
$33

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.

$409,997

PROJECTED PRICE

$2,450

PROJECTED RENT

0.60%

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$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$114,399

INVESTMENT

$114,399

Down Payment
$102,499
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,499
Loan Amount $307,498
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$24,223

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,457

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,4333$2,4504$2,5505$2,750
$2,750
RENT COMPS ANALYSIS
  • 6745 Merrick Landing Blvd Windermere, FL 3
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.93
    •  
  • 6251 Talaria Dr Windermere, FL 1
    • 4 beds 2 baths ∙ 2,579 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,579 Sqft ∙ Built 2003
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.83
    •  
  • 6121 Andreozzi Ln Windermere, FL 2
    • 4 beds 2 baths ∙ 2,522 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,522 Sqft ∙ Built 2004
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,433
    • $0.96
    •  
  • 13908 Florigold Dr Windermere, FL 4
    • 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 2004
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.95
    •  
  • 6772 New Independence Pkwy Winter Garden, FL 5
    • 5 beds 4 baths ∙ 2,773 Sqft ∙ Built 2011 5 beds 4 baths ∙ 2,773 Sqft ∙ Built 2011
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jean Lubin
1.407.668.9744
La Rosa Rty Winter Garden Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5910039
Last Updated: 01/21/2021
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