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707 Veronica Cir Ocoee, FL 34761

4 Beds 2 Baths 1,868 sqft Built 1999

$292,500

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $156.58
  • 5 Days on Market
  • MLS # : O5912686
  • Updated Date : 12/24/2020 at 09:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,868 sqft
  • Baths : 2 full
Listing Agent

Folio Realty Llc

Listing Agent's Description

Don't wait to be impressed. LOCATION LOCATION LOCATION is only the beginning in this 4 bed 2 bath home in Veronica Place one of Ocoee's best kept secrets. Walk in to foyer with formal living and dining room PLUS oversized family room off kitchen. Split floor plan has received Master Suite remodel with master bath that walks out to back yard. Also french doors off eat in kitchen which walk out to large patio and completely fenced backyard. NEW ROOF 2018 NEW A/C 2020 ... This won't last long!!

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: Veronica Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k292k

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

Neighborhood: Veronica Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9281877

* 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
 

$263,250$321,750$292,500

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,079
Property Tax -$368
Property Insurance -$148
HOA -$12
Property Management Fees -$129
CASH FLOW
$145

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.

$292,500

PROJECTED PRICE

$1,880

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.7%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,263

INVESTMENT

$83,263

Down Payment
$73,125
Rehab Estimate
$5,750
Closing Costs
$4,388

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,079

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,125
Loan Amount $219,375
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$32,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,663

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,7503$1,7954$1,8505$1,880
$1,880
RENT COMPS ANALYSIS
  • 707 Veronica Cir Ocoee, FL 5
    • 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.01
    •  
  • 9162 Baton Rouge Dr Orlando, FL 1
    • 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 1988
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.93
    •  
  • 403 Abbeyridge Ct Ocoee, FL 2
    • 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 1991
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 1423 Vickers Lake Dr Ocoee, FL 3
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1996
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 916 Hire Cir Ocoee, FL 4
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2006
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
PROPERTY LISTING DETAILS
Terri Flynn
1.407.383.3515
Folio Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5912686
Last Updated: 12/24/2020
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