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871 Cool Springs Cir Ocoee, FL 34761

3 Beds 2 Baths 1,884 sqft Built 1996

$335,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $177.81
  • 7 Days on Market
  • MLS # : O5916009
  • Updated Date : 01/12/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 2 full
Listing Agent

Buyer Rebates Realty

Listing Agent's Description

Beautiful Morrison Homes built 3 bedroom/2 bathroom home with stunning Spring Lake views. Relax and watch perfect sunsets every night from your private screened lanai! This backyard oasis with mature trees features a huge covered lanai and screened patio with brick pavers for outdoor relaxation and entertaining. New roof in 2016 and re-piped 2013. Remodeled kitchen with granite counter tops and tile backsplash. Very functional split floor plan with formal dining/formal room and kitchen/family room. Good size master bathroom with roman tub, separate shower and double sinks. Wood flooring in master bedroom and guest rooms. 'Reflections' community boasts many amenities including a beautiful community pool with a picnic grill area, a playground and basketball court, all of which overlook Spring Lake. Very desirable floor plan in a great community! Great location near to schools, shopping and major highways. A must see for new home buyers!

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: Reflections

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k326k

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

Neighborhood: Reflections

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9362030

* 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,164
Property Tax -$423
Property Insurance -$149
HOA -$56
Property Management Fees -$129
CASH FLOW
-$161

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.

$335,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.5%
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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,795

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7503$1,7604$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 871 Cool Springs Cir Ocoee, FL 3
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.93
    •  
  • 2799 Cullens Ct Ocoee, FL 1
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1997
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.02
    •  
  • 2707 Child St Ocoee, FL 2
    • 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 1999
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 1931 Lochshyre Loop Ocoee, FL 4
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2001
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 1988 Saint James Ct Ocoee, FL 5
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2000
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Sean Popat
1.407.399.1669
Buyer Rebates Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916009
Last Updated: 01/12/2021
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