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7165 Green Needle Dr Winter Park, FL 32792

3 Beds 2 Baths 1,210 sqft Built 1981

$225,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $185.95
  • 2 Days on Market
  • MLS # : O5908552
  • Updated Date : 11/29/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,210 sqft
  • Baths : 2 full
Listing Agent

Re/max Downtown

Listing Agent's Description

Welcome home to the quiet and well-established Bel Aire Pines community! CONVENIENTLY LOCATED-You’ll be right off University Boulevard and close to shopping centers, restaurants, Full Sail University, University of Central Florida, Publix, the 417, Orlando Executive Airport, the Orlando and Sanford International Airports, Baldwin Park, Rollins College, golf courses, medical services, A-Rated Winter Park High School, within 60 miles of Atlantic Ocean beaches, the nightlife of downtown Orlando and fun weekends browsing the markets down Park Avenue. Inside this comfortable & well-maintained home the feeling is open & bright. Enjoy your morning cup of coffee on your front porch & enjoy your private back yard with NO REAR NEIGHBORS. UPGRADES & UPDATES: New HVAC (2015), New Air Handler (2018), Plumbing re-piped (2009/2010), Attic Insulation (2018), New Luxury waterproof vinyl plank flooring (2019), New Kitchen cabinets, granite counter top, refrigerator, stove and dishwasher (2019). LEASE WITH RIGHT TO PURCHASE OPTION ("RENT-TO-OWN") is also available for qualified buyers. As a new homeowner, enjoy a little extra peace of mind with the COMPLIMENTARY 1 YEAR HOME WARRANTY! If need be, READY FOR IMMEDIATE OCCUPANCY! Schedule an appointment, take a peek, make an offer! (Note: All property photos will be completed and uploaded by Monday evening, November 30th.)

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bel-Aire Pines

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $95k293k

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

Neighborhood: Bel-Aire Pines

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9242002

* 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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$830
Property Tax -$235
Property Insurance -$108
HOA -$3
Property Management Fees -$131
CASH FLOW
$143

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.

$225,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 14.9%
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

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$24,934

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,216

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,145
1$1,1452$1,3753$1,4504$1,5385$1,665
$1,665
RENT COMPS ANALYSIS
  • 7165 Green Needle Dr Winter Park, FL 3
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.20
    •  
  • 3151 Black Pine Ave Winter Park, FL 1
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1983
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.84
    •  
  • 8101 Alveron Ave Orlando, FL 2
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1971
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.00
    •  
  • 8027 Port Said St Orlando, FL 4
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1977
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,538
    • $1.09
    •  
  • 8220 Port Said St Orlando, FL 5
    • 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1978
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $1.09
    •  
PROPERTY LISTING DETAILS
Jeff Koch
1.407.242.4525
Re/max Downtown
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5908552
Last Updated: 11/29/2020
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