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905 Cloverwood Way Winter Garden, FL 34787

5 Beds 3 Baths 2,212 sqft Built 2011

$357,200

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $161.48
  • 3 Days on Market
  • MLS # : O5923519
  • Updated Date : 02/13/2021 at 16:42
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,212 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

MULTIPLE OFFERS, Highest and Best due 2/15/2021 at 10am. Beautiful 5 bedroom, 3 bathroom, two-story corner lot home in the community of Oaks at Brandy Lake in Winter Garden. This home features an open living and dining room combination with laminate floors. The kitchen boasts granite countertops, stainless steel appliances, 42" cabinets, a decorative backsplash, and a center island. The first floor also has a guest bedroom and a full bathroom. The second floor features the primary bedroom with trays ceilings, a walk-in closet, and a private bathroom with double vanity sinks, a garden bathtub, and a separate tiled shower. Outside the primary bedroom are 3 additional bedrooms, a full bathroom, laundry room, and an open loft area. Sliding glass doors from the kitchen opens to the patio and the fully fenced backyard. This home has a 2-car rear entry garage, low HOA which include a community pool and playground area, and is convenient to historical downtown Winter Garden, West Orange Trail, shopping, dining, and major roads.

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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

Neighborhood: Oaks at Brandy Lake

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $69k400k

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

Neighborhood: Oaks at Brandy Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000210022002300Rent in $8952320

* 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
Tildenville Elementary School Primary Magnet 540 37 8
Lakeview Middle School Middle Regular 1,032 62 3
West Orange High School High Regular 3,835 178 6

Tildenville Elementary School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 37
8
GreatSchools Rating

Lakeview Middle School

  • Education Level: Middle
  • # of students: 1,032
  • # of teachers: 62
3
GreatSchools Rating

West Orange High School

  • Education Level: High
  • # of students: 3,835
  • # of teachers: 178
6
GreatSchools Rating
 

$321,480$392,920$357,200

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,241
Property Tax -$393
Property Insurance -$168
HOA -$78
Property Management Fees -$129
CASH FLOW
-$39

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.

$357,200

PROJECTED PRICE

$1,970

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$100,408

INVESTMENT

$100,408

Down Payment
$89,300
Rehab Estimate
$5,750
Closing Costs
$5,358

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,241

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,300
Loan Amount $267,900
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$13,857

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,637

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,7504$1,9005$1,970
$1,970
RENT COMPS ANALYSIS
  • 905 Cloverwood Way Winter Garden, FL 5
    • 5 beds 4 baths ∙ 2,212 Sqft ∙ Built 2011 5 beds 4 baths ∙ 2,212 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.89
    •  
  • 868 Bending Oak Trl Winter Garden, FL 1
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2009
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.70
    •  
  • 817 Brandy Oaks Loop Winter Garden, FL 2
    • 4 beds 2 baths ∙ 2,383 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,383 Sqft ∙ Built 2010
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.63
    •  
  • 531 Clancy St Winter Garden, FL 3
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2005
    property image
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 343 Grand Royal Cir Winter Garden, FL 4
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2001
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
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 #: O5923519
Last Updated: 02/13/2021
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