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8241 Westcott Shore Dr Orlando, FL 32829

4 Beds 2 Baths 2,160 sqft Built 2002

$318,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $147.64
  • 5 Days on Market
  • MLS # : O5913273
  • Updated Date : 12/24/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,160 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Beautiful 4 bedroom, 2 bathroom, single-family home located in the wonderful community of Vista Lakes in Orlando. This home features a combination living room/dining room with laminate flooring, vaulted ceilings, and wainscoting. The kitchen boasts formica countertops, wood cabinetry, appliances, a center island, and a breakfast bar that opens to the dinette area and spacious family room. Split bedroom floor plan with a spacious primary bedroom, walk-in closet with custom shelves, french doors that open to a private study/office or additional bedroom, and a private bedroom with double vanity sinks, garden bathtub, and a stand-alone tiled shower. The hallway from the family rooms leads to 2 additional bedrooms and a full bathroom. French doors from the family room open to the screened lanai which overlooks the backyard. This home features a 2-car garage, low HOA, and is conveniently located by the Orlando International Airport, Lake Nona, Medical City, highway 417, and less than 10 minutes from the 408 and 528.

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

Neighborhood: Vista East

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k308k

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

Neighborhood: Vista East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10281982

* 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
 

$287,010$350,790$318,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,177
Property Tax -$396
Property Insurance -$165
HOA -$41
Property Management Fees -$129
CASH FLOW
-$178

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.

$318,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 6.8%
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-$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$90,259

INVESTMENT

$90,259

Down Payment
$79,725
Rehab Estimate
$5,750
Closing Costs
$4,784

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,725
Loan Amount $239,175
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,523

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,4954$1,7305$1,998
$1,998
RENT COMPS ANALYSIS
  • 8241 Westcott Shore Dr Orlando, FL 4
    • 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.80
    •  
  • 5043 Myrtle Bay Dr Orlando, FL 1
    • 4 beds 3 baths ∙ 2,104 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,104 Sqft ∙ Built 1988
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.66
    •  
  • 5964 Providence Crossing Trl Orlando, FL 2
    • 4 beds 2 baths ∙ 2,305 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,305 Sqft ∙ Built 2004
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.63
    •  
  • 5743 Essex Isle Dr Orlando, FL 3
    • 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 2002
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.64
    •  
  • 8337 Westcott Shore Dr Orlando, FL 5
    • 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2002
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,998
    • $0.89
    •  
PROPERTY LISTING DETAILS
Veronica Figueroa
1.407.329.9500
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5913273
Last Updated: 12/24/2020
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