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9329 Palm Tree Dr Windermere, FL 34786

3 Beds 2 Baths 1,492 sqft Built 1985

$290,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1985
  • Price/Sqft : $194.37
  • 65 Days on Market
  • MLS # : O5889187
  • Updated Date : 11/01/2020 at 16:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,492 sqft
  • Baths : 2 full
Listing Agent

Re/max Optima

Listing Agent's Description

Fantastic 3/2 split bedroom layout sitting on .23 acres, in a quiet, established neighborhood in the heart of Windermere! This property needs a little TLC and is priced accordingly. Some work needed to master shower. Hot water heater not working and needs replacement. Roof replaced Sep 2018. A-rated schools. Neighborhood amenities include tennis courts. Location is ideal with plenty of shopping, restaurants, and Bay Hill Country Club just minutes away; and best part is, it's only a short drive to the theme parks! "As-Is" sale - cash and conventional offers only. Property can only be viewed by appointment - 24 hour notice required. New photos and video coming soon. No Sunday showings.

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: Silver Woods

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $110k508k

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

Neighborhood: Silver Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10293062

* 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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,070
Property Tax -$368
Property Insurance -$125
HOA -$25
Property Management Fees -$161
CASH FLOW
$41

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.

$290,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 5.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$19,040

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,615

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,7903$1,8754$1,9505$2,250
$2,250
RENT COMPS ANALYSIS
  • 9329 Palm Tree Dr Windermere, FL 2
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.20
    •  
  • 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
    •  
  • 6384 Edge O Grove Cir Orlando, FL 3
    • 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1986
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.03
    •  
  • 4912 Woodbreeze Ct Windermere, FL 4
    • 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
    •  
  • 9151 Woodbreeze Blvd Windermere, FL 5
    • 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1985
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.24
    •  
PROPERTY LISTING DETAILS
Traci De Wid
1.407.579.8600
Re/max Optima
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5889187
Last Updated: 11/01/2020
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