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6833 Mill Stream Rd Ocoee, FL 34761

3 Beds 2 Baths 1,645 sqft Built 2001

$314,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $191.43
  • 2 Days on Market
  • MLS # : O5912705
  • Updated Date : 12/26/2020 at 16:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,645 sqft
  • Baths : 2 full
Listing Agent

La Rosa Realty Horizons Llc

Listing Agent's Description

THIS HOUSE WON'T LAST LONG! WELCOME TO A GREAT COMMUNITY IN OCOEE. Unlike newer communities, Sawmill offers a mature unconventional homes neighborhood, where finding land and a cookie cutter is not every homeowner's want. This contemporary home comes with a nearly new 5 yr old roof, irrigation system and privacy fence. This charming home sits on a little over a 1/4 Acre CORNER Lot, 4/2 or 3/2 with Den/Study/Office. Flex room could be considered the 4th room with an already built-in closet. Larger than most split floor Master bedrooms, Bath with Jetted Tub and built-in Master shelves closet. Gorgeous traditional real WOOD burning fireplace centrally located in the family room with a carved mantle frame. Owners invested a lot of thought in creating great resort style space in the exterior of the home. Grandiose enclosed massive rear porch is great for entertaining family and friend gatherings, which include an extraordinary 15,000 gallon, 3ft - 6ft pool. The full-length porch has ample space for cool summer days. The inviting uncommonly large over size palm tree allows the character to be quite breathtaking. Enjoy the finished open air spacious deck with a permitted workshop Shed containing a working A/C unit and 334 square ft of large work space. This shed has space for your future needs for a quick install of a bathroom for the pool. The side fence private gate allows space for nice size boat storage space. This great home is located minutes from major highways such as 429, 408, Florida’s Turnpike, and 414. In less than 15 minutes, you can end near the Historic Downtown Winter Garden, Winter Garden Village, many well-known restaurants and other shops.

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: Sawmill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $106k280k

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

Neighborhood: Sawmill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8711877

* 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
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,162
Property Tax -$398
Property Insurance -$134
HOA -$13
Property Management Fees -$129
CASH FLOW
-$105

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.

$314,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,149

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,559

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,6954$1,7305$1,795
$1,795
RENT COMPS ANALYSIS
  • 6833 Mill Stream Rd Ocoee, FL 4
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.05
    •  
  • 7610 Canfield Ct Orlando, FL 1
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2006
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 2360 Grand Poplar St Ocoee, FL 2
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2000
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 2467 El Marra Dr Ocoee, FL 3
    • 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 2004
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 2061 Applegate Dr Ocoee, FL 5
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2000
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
PROPERTY LISTING DETAILS
Carol Ortiz
1.407.948.9621
La Rosa Realty Horizons Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5912705
Last Updated: 12/26/2020
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