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8113 Lazy Bear Ln Winter Park, FL 32792

4 Beds 3 Baths 2,267 sqft Built 2015

$440,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $194.09
  • 3 Days on Market
  • MLS # : O5915372
  • Updated Date : 01/08/2021 at 22:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,267 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

One or more photo(s) has been virtually staged. Built in 2015, this Winter Park two-story home offers granite countertops and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Zip Code: 32792

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k293k

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

Zip Code: 32792

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9742002

* 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
Eastbrook Elementary School Primary Regular 809 57 5
Tuskawilla Middle School Middle Regular 1,080 57 5
Lake Howell High School High Regular 2,229 117 6

Eastbrook Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 57
5
GreatSchools Rating

Tuskawilla Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 57
5
GreatSchools Rating

Lake Howell High School

  • Education Level: High
  • # of students: 2,229
  • # of teachers: 117
6
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,528
Property Tax -$439
Property Insurance -$172
HOA -$83
Property Management Fees -$129
CASH FLOW
-$201

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.

$440,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.0%
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$1.2M$1.4M

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$9,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,154

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,1504$2,2505$2,495
$2,495
RENT COMPS ANALYSIS
  • 8113 Lazy Bear Ln Winter Park, FL 3
    • 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.95
    •  
  • 8792 Atwater Loop Oviedo, FL 1
    • 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2009
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
  • 8020 Pleasant Pine Cir Winter Park, FL 2
    • 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2013
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 7903 Pleasant Pine Cir Winter Park, FL 4
    • 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2014
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.97
    •  
  • 7872 Pleasant Pine Cir Winter Park, FL 5
    • 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 2013
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.06
    •  
PROPERTY LISTING DETAILS
Alli Johnston
1.407.634.1744
Opendoor Brokerage Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5915372
Last Updated: 01/08/2021
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