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803 Main St Windermere, FL 34786

3 Beds 2 Baths 1,456 sqft Built 1998

$449,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $308.38
  • 112 Days on Market
  • MLS # : O5895430
  • Updated Date : 01/15/2021 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,456 sqft
  • Baths : 2 full
Listing Agent

Corcoran Premier Realty

Listing Agent's Description

Beautifully finished this family home is located in the heart of downtown Windermere and is surrounded by mature lush landscaping. The welcoming entry and front porch give a coastal feel. Hard wood floors and gas fireplace enhance the open family area. In the gourmet kitchen paneled cabinetry and solid surface countertops contribute to the thoroughly modern feel, featuring an open bar top, stainless steel appliances, and custom built cabinetry. The kitchen opens naturally to the spacious family living areas adding an element of comfort and fun. The wrap around porch is expansive extending to the huge rear yard, perfect for entertaining family and friends. The master retreat offers privacy to owners and features a lovely spa like master bath; well finished with walk in shower and double vanities. New metal roof and lots of upgrades make this an exceptional home. Great schools and located in the heart of downtown Windermere – walk to shops, steps from the lake butler and lake Bessie boat ramps.

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: Windermere

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $110k641k

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

Neighborhood: Windermere

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10293181

* 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
Windermere Elementary School Primary Regular 753 48 9
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Windermere Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 48
9
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
 

$404,100$493,900$449,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,560
Property Tax -$517
Property Insurance -$123
Property Management Fees -$129
CASH FLOW
-$348

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.

$449,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 1.3%
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-$5.0k$0.0$5.0k$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$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.36

    LIST RENT PER SQFT
  • $1,621

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,9503$1,9804$2,300
$2,300
RENT COMPS ANALYSIS
  • 803 Main St Windermere, FL 3
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.36
    •  
  • 9479 Woodbreeze Blvd Windermere, FL 1
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1987
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.93
    •  
  • 4912 Woodbreeze Ct Windermere, FL 2
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1986
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.13
    •  
  • 716 Oakdale St Windermere, FL 4
    • 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 1987
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.28
    •  
PROPERTY LISTING DETAILS
Steve Healy
1.407.965.1155
Corcoran Premier Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5895430
Last Updated: 01/15/2021
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