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1213 Rossman Dr Apopka, FL 32703

3 Beds 2 Baths 1,353 sqft Built 1971

$214,900

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $158.83
  • 1 Days on Market
  • MLS # : L4921473
  • Updated Date : 03/14/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,353 sqft
  • Baths : 1 full , 1 half
Listing Agent

La Rosa Realty Prestige

Listing Agent's Description

Welcome home to this beautifully remodeled ranch-style house   It features a new kitchen with stainless steel appliances, new cabinets, and granite countertops. Bathrooms are updated with new vanities, toilets, and shower. Freshly painted interior and exterior, new carpet, new lighting, hardware, outlets, and water heater. Block home with newer AC and newer roof. Step out onto the large back patio with a fenced yard and plenty of trees to provide shade. Oversized driveway for extra parking. Close to plenty of shopping, I-4, and Orlando.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Neighborhood: Fairfield

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $49k265k

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

Neighborhood: Fairfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7141707

* 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
Lovell Elementary School Primary Regular 709 46 4
Piedmont Lakes Middle School Middle Regular 1,142 68 4
Wekiva High School High Regular 2,349 113 4

Lovell Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 46
4
GreatSchools Rating

Piedmont Lakes Middle School

  • Education Level: Middle
  • # of students: 1,142
  • # of teachers: 68
4
GreatSchools Rating

Wekiva High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 113
4
GreatSchools Rating
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$746
Property Tax -$231
Property Insurance -$117
Property Management Fees -$129
CASH FLOW
$156

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.

$214,900

PROJECTED PRICE

$1,380

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$746

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$24,533

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,444

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4003$1,5004$1,6155$1,625
$1,625
RENT COMPS ANALYSIS
  • 1213 Rossman Dr Apopka, FL 1
    • 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.02
    •  
  • 1270 Ashworth Dr Apopka, FL 2
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1985
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.14
    •  
  • 1791 Iroquois Dr Apopka, FL 3
    • 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1986
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
  • 1369 Tindaro Dr Apopka, FL 4
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1988
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.99
    •  
  • 1976 Borga Ct Apopka, FL 5
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1989
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.06
    •  
PROPERTY LISTING DETAILS
Patricia Mcdonald
1.863.651.3896
La Rosa Realty Prestige
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4921473
Last Updated: 03/14/2021
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