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7511 Fairgrove Ave Windermere, FL 34786

4 Beds 5 Baths 2,961 sqft Built 2015

$459,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $155.02
  • 3 Days on Market
  • MLS # : O5905833
  • Updated Date : 11/14/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,961 sqft
  • Baths : 4 full , 1 half
Listing Agent

Double M Group Company

Listing Agent's Description

NEW PHOTOS COMING SOON… Welcome to this one-of-a-kind property on the high desirable Windermere Sound community, close to all major Orlando attractions, as well as strategically located close to the best schools of Central Florida. This 2-story single family with detached garage, DOUBLE MASTER SUITE and IN-LAW SUITE comes with all standards of a genuine open floor plan, where you have even more integrated areas to gather with your family and your loved ones! On the first floor you have a large gourmet kitchen with full stainless steel appliances, granite countertops, island and walk-in pantry. The first Master Suite comes with walking closets, dual sinks and a lot of extra space. On the second floor you have another master suite, additional bedrooms with Jack-n-Jill bathroom with dual sinks and granite countertops, and a cozy loft. Also you will find on the way out to the garage a covered patio for grilling or gathering with your friends. Above the detached garage you will find the IN-LAW SUITE, with plenty space to receive your loved ones on vacation, or a great opportunity of revenue on a long-term lease. LOW HOA - relax yourself and enjoy all amenities this community has to offer - community pool, basketball, tennis court and playground. Lawn maintenance included on the monthly HOA. LOCATION, LOCATION, LOCATION - This is the best location ever to families, right close to the best schools of Central Florida! LAKESIDE VILLAGE - premium shopping within a mile of distance, with Publix, restaurants, banks, mail services, all you need from a walking distance from your home! Schedule your showing today!

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

Zip Code: 34786

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $110k508k

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

Zip Code: 34786

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10293062

* 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
 

$413,100$504,900$459,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,694
Property Tax -$538
Property Insurance -$213
HOA -$130
Property Management Fees -$219
CASH FLOW
-$363

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.

$459,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
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-$10k-$5.0k$0.0$5.0k

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$127,385

INVESTMENT

$127,385

Down Payment
$114,750
Rehab Estimate
$5,750
Closing Costs
$6,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,694

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,750
Loan Amount $344,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,458

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,4304$2,5005$2,800
$2,800
RENT COMPS ANALYSIS
  • 7511 Fairgrove Ave Windermere, FL 3
    • 4 beds 5 baths ∙ 2,961 Sqft ∙ Built 2015 4 beds 5 baths ∙ 2,961 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.82
    •  
  • 12922 Strode Ln Windermere, FL 1
    • 5 beds 5 baths ∙ 2,961 Sqft ∙ Built 2015 5 beds 5 baths ∙ 2,961 Sqft ∙ Built 2015
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 12942 Freeman St Windermere, FL 2
    • 4 beds 4 baths ∙ 3,072 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,072 Sqft ∙ Built 2005
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.75
    •  
  • 7410 Colbury Ave Windermere, FL 4
    • 4 beds 4 baths ∙ 2,864 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,864 Sqft ∙ Built 2008
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
  • 7230 Backwoods Trl Windermere, FL 5
    • 4 beds 4 baths ∙ 3,044 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,044 Sqft ∙ Built 2017
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Andrey Da Silva
1.407.990.4288
Double M Group Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5905833
Last Updated: 11/14/2020
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