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720 W Webster Ave Winter Park, FL 32789

3 Beds 2 Baths 1,356 sqft Built 1970

$319,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $235.25
  • 3 Days on Market
  • MLS # : O5917975
  • Updated Date : 01/23/2021 at 14:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,356 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Winter Park

Listing Agent's Description

Location! Location! Location! This adorable three bedroom/2 bathroom + large office, single-story home, is just steps to upscale Park Avenue shopping and dining, Winter Park Village and all this area has to offer! Just finished new Roof, A/C & Heat, recessed interior lighting (including under kitchen cabinet lighting) and painted inside and out! Newer kitchen w/ granite countertops and stainless steel appliances, whole house windows and blinds, gas line for kitchen range, and LVP flooring. Newer water heater, electric and plumbing. Don’t miss this opportunity!

SEE MORE

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: Carver Town

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $76k298k

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

Neighborhood: Carver Town

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7832002

* 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
Lakemont Elementary School Primary Regular 656 45 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Lakemont Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 45
8
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
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,108
Property Tax -$340
Property Insurance -$117
Property Management Fees -$129
CASH FLOW
-$114

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.

$319,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.8%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,117

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,356

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,5003$1,5504$1,5805$1,645
$1,645
RENT COMPS ANALYSIS
  • 720 W Webster Ave Winter Park, FL 4
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.17
    •  
  • 731 Pansy Ave Winter Park, FL 1
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1955
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.01
    •  
  • 469 Shoreview Ave Winter Park, FL 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1966
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 525 Kilshore Ln Winter Park, FL 3
    • 3 beds 1 baths ∙ 1,549 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,549 Sqft ∙ Built 1952
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 690 Callahan St Winter Park, FL 5
    • 4 beds 2 baths ∙ 1,653 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,653 Sqft ∙ Built 1950
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.00
    •  
PROPERTY LISTING DETAILS
Cindy Watson
1.407.920.2359
Keller Williams Winter Park
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917975
Last Updated: 01/23/2021
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