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1190 Deer Lake Cir Apopka, FL 32712

4 Beds 2 Baths 2,350 sqft Built 1990

$360,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $153.19
  • 2 Days on Market
  • MLS # : O5915777
  • Updated Date : 01/10/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,350 sqft
  • Baths : 2 full
Listing Agent

Steve Wheeler Elite Realty Inc

Listing Agent's Description

** Original owner ** Well maintained ** Beautiful 1/2 acre lot ** side entry garage ** 2350 sq ft 4 bdrm 2 bath split plan with high ceilings ** 3,172 sq ft under roof ** UPDATES INCLUDE: Trane 18.5 seer super hi efficiency a/c (2/26/19), Repiped (8/27/14), top quality cabinets, granite counters, paint, and more. Private lot with no rear neighbors. Large tiled screened porch under permanent roof. Wood burning fireplace in family room. Alarm system. Formal living and dining rooms. Quality block and stucco construction. Complete lawn irrigation system. Shed in back yard conveys as is. Active termite bond with Massey. Seller has current professional lawn maintenance, lawn care, and pest control. Refrigerator in laundry room conveys. Great location close to Wekiva State Park, Kelly Park, and road access. This is truly an executive private neighborhood with large oaks, 1/2+ acre lots, and enclosed in a beautiful perimeter wall/entrances.

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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

Zip Code: 32712

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k335k

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

Zip Code: 32712

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9301845

* 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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,250
Property Tax -$388
Property Insurance -$177
HOA -$35
Property Management Fees -$129
CASH FLOW
-$19

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.

$360,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.0%
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$1.2M

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$16,658

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,015

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9603$1,9954$2,0295$2,300
$2,300
RENT COMPS ANALYSIS
  • 1190 Deer Lake Cir Apopka, FL 2
    • 4 beds 2 baths ∙ 2,350 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,350 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.83
    •  
  • 903 Laurel Leaf Ct Apopka, FL 1
    • 3 beds 2 baths ∙ 2,395 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,395 Sqft ∙ Built 1991
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 1209 Reagans Reserve Blvd Apopka, FL 3
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2001
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 1688 Sweetwater West Cir Apopka, FL 4
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1996
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,029
    • $0.85
    •  
  • 1408 Deer Lake Cir Apopka, FL 5
    • 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 1989
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.01
    •  
PROPERTY LISTING DETAILS
Steve Wheeler
1.407.222.7169
Steve Wheeler Elite Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5915777
Last Updated: 01/10/2021
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