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7924 Iceland Gull St Winter Garden, FL 34787

3 Beds 2 Baths 1,794 sqft Built 2013

$360,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $200.67
  • 6 Days on Market
  • MLS # : O5908628
  • Updated Date : 12/01/2020 at 12:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,794 sqft
  • Baths : 2 full
Listing Agent

Julian Properties, Inc.

Listing Agent's Description

Oustanding opportunity to own in Winter Garden at Summerlake. This beautiful home features a great open floor plan, lots of storage and a 3 stall car garage!!! The great room is designed with open kitchen and includes 42" maple cabinets w/ crown molding, granite countertops, stainless steel appliances (Gas Range) and closet pantry. Master Suite has a walk-in closet, dual vanity sinks w/ granite countertops, privacy lavatory, and glass-enclosed shower. Summerlake offers residents 29 acres of planned parks, Lake Access, Clubhouse with Gym & Rec Room, Tennis Courts, and Community Pool. Plus landscaping it's included in the HOA! Schedule your private showing today before this gem is gone.

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

Zip Code: 34787

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k361k

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

Zip Code: 34787

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10292322

* 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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,328
Property Tax -$422
Property Insurance -$143
HOA -$187
Property Management Fees -$129
CASH FLOW
-$219

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.

$360,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,825

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,9903$2,0004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 7924 Iceland Gull St Winter Garden, FL 2
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.11
    •  
  • 15468 Blackbead St Winter Garden, FL 1
    • 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 2018
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.97
    •  
  • 14296 Murcott Blossom Blvd Winter Garden, FL 3
    • 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2018
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 14763 Porter Rd Winter Garden, FL 4
    • 4 beds 2 baths ∙ 2,049 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,049 Sqft ∙ Built 2013
    property image
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
  • 7990 Wood Sage Dr Winter Garden, FL 5
    • 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 2018
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.05
    •  
PROPERTY LISTING DETAILS
Libni Rodriguez
1.407.965.7006
Julian Properties, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5908628
Last Updated: 12/01/2020
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