Windermere and South Winter Garden
On the far west side of the Orlando MSA this developing area is growing by leaps and bounds. Just drive down the main road (SR 535/Daniels Rd.) and you will see the new home builder signs dotting the sides of the street as the area continues to build. Existing homes however, are still priced well below comparable new homes, offering opportunity for great deals. Located just north of Disney’s “cast member” entrance, the areas primary driver is the hospitality, tourism and entertainment market, with accompanying financial, small business, government, and real estate related industries. Windermere “The Town Amongst the Lakes” is one of the most premium communities in central Florida; known for multi-million dollar homes owned by local and national celebrities and Corporate CEO’s, with frontage to some of the best ski lakes in Florida. This gives homes with the Windermere address a bit more prestige than those with the nearby Winter Garden address….though the area we will be focusing on (Middle and upper middle class properties with more reasonable prices) are all served by some of the same schools and proximity to the same amenities no matter the physical address.
Properties in South Winter Garden (In general, South of the FL Turnpike) are all newer built beautiful communities with proximity to the first main power retail center in the area (www.wintergardenvillage.com). Along with quick access to highway 429, FL turnpike, and the 408, it is an easy commute to all Orlando MSA employment centers in just a 20 to 30 minute highway commute.
Low Crime, Highly rated schools, proximity to world known entertainment venues (but far enough away to avoid the congestion and noise of them) access to highways, and completely master planned development (Horizons West) the area’s population is expected to grow to 6x its current population by 2030. Rental demand for the area is very high with yields typically slightly higher than average, currently prices and rents are slowly rising from bottoms reached between late 2010 and mid 2011.
Property Makeup: Mostly newer Single Family detached and Townhome style homes in master planned communities with mixture of New Urbanism and contemporary design.
Price Ranges: 04/2012
- Condo’s – $50,000-$130,000 (not highly recommended in this area)
- Townhomes - $85,000-$210K (best rental properties are under 150K)
- Single Family Homes - $140,000 up to $75,000,000 (best rental properties between 140-350K)
What to Watch out for: High HOA dues for condo’s and some Single Family Homes, power lines running through a few communities that will greatly lower values and rent ability to those properties that back directly to them.
Overall Rating: “A+” for an excellent area, highly desirable now, with excellent future potential and good current returns
Favorite Neighborhoods for Investment (where I tend to find the most and best all around deals): Almost every neighborhood in this area, but particularly, Summerport, Daniels Landing and The Orchard, Regency Oaks, Eden’s Hammock, Lake Burden. Homes in this area with a pool tend to have higher increased rents vs. the cost of maintaining the pool and are recommended.
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