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713 Stinnett Dr Ocoee, FL 34761

3 Beds 2 Baths 1,556 sqft Built 1977

$330,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $212.08
  • 1 Days on Market
  • MLS # : O5957669
  • Updated Date : 07/13/2021 at 15:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,556 sqft
  • Baths : 2 full
Listing Agent

Premium Properties R.e Service

Listing Agent's Description

This fully upgraded house is situated on a large lot located in a quiet and established neighborhood. When you walk in, you are greeted by an open floor plan that is flooded with light from the new backdoor. These doors lead you out to a large backyard that will host all of your family's parties from here on out! Back inside, you will see an updated kitchen (including updated plumbing!) that features granite countertops and stainless steel appliances. The kitchen island has enough room to fit seats to give you extra space for eating in addition to the dining room space. When you venture down the hallway, you will come across the guest bathroom which has been updated to include two sinks. The three bedrooms are all spacious and the master includes two closets. Make an appointment to come see it today!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Shore Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k287k

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

Neighborhood: Lake Shore Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9361881

* 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
Ocoee Elementary School Primary Regular 804 54 4
Ocoee Middle School Middle Regular 1,375 73 3
Ocoee High School High Regular 2,243 106 4

Ocoee Elementary School

  • Education Level: Primary
  • # of students: 804
  • # of teachers: 54
4
GreatSchools Rating

Ocoee Middle School

  • Education Level: Middle
  • # of students: 1,375
  • # of teachers: 73
3
GreatSchools Rating

Ocoee High School

  • Education Level: High
  • # of students: 2,243
  • # of teachers: 106
4
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,146
Property Tax -$417
Property Insurance -$129
HOA -$8
Property Management Fees -$129
CASH FLOW
-$199

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.

$330,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.1%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,241

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$975
1$9752$1,1003$1,3004$1,6205$1,630
$1,630
RENT COMPS ANALYSIS
  • 713 Stinnett Dr Ocoee, FL 5
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.05
    •  
  • 778 Olympic Cir #2 Ocoee, FL 1
    • 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.70
    •  
  • 9413 Budwood St Orlando, FL 2
    • 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 1994
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.77
    •  
  • 1508 Vidalia Ct Orlando, FL 3
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.79
    •  
  • 9162 Baton Rouge Dr Orlando, FL 4
    • 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 1988
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.93
    •  
PROPERTY LISTING DETAILS
Patrick St Juste
1.407.600.8017
Premium Properties R.e Service
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5957669
Last Updated: 07/13/2021
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