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1223 Marie Ave Apopka, FL 32703

4 Beds 2 Baths 1,431 sqft Built 1960

$240,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $167.71
  • 2 Days on Market
  • MLS # : O5929762
  • Updated Date : 03/13/2021 at 20:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,431 sqft
  • Baths : 2 full
Listing Agent

Tc Orlando Homes Llc

Listing Agent's Description

Welcome to this cozy, Seminole county home. If your looking for a wonderful, safe, conveniently located area to call home, this is it! Featuring 4 bedrooms and 2 bathrooms this home has plenty of different dedicated spaces for any homebuyers needs. Both bathrooms have been tastefully updated and have private bedroom access, making the home even more versatile, and accommodating. This home also features a renovated kitchen. The designer, real wood kitchen cabinets has a lazy Susan, a full size pantry with sliding pull-out drawers, and a sliding pull-out spice rack that conveniently located right next to the stove. Making cooking for your fine guests and loved ones seem more a labor of love than a typical everyday task. Granite Kitchen counter-tops, with newer appliances included. The home has a BRAND NEW roof which was installed in the end of February. As well as a water softener system. The front yard has been completely re-sodded and redone recently. And to top it all off, the property is home to a mango tree, an avocado tree, and a persimmons tree. YUM!!!! Zoned for some of the top public schools in Seminole county, this home is truly a GEM that you do not want to miss out on.

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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: Bear Lake Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $51k331k

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

Neighborhood: Bear Lake Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700180019002000Rent in $6822089

* 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
Bear Lake Elementary School Primary Regular 1,040 72 6
Teague Middle School Middle Regular 1,332 78 6
Lake Brantley High School High Regular 2,727 142 6

Bear Lake Elementary School

  • Education Level: Primary
  • # of students: 1,040
  • # of teachers: 72
6
GreatSchools Rating

Teague Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 78
6
GreatSchools Rating

Lake Brantley High School

  • Education Level: High
  • # of students: 2,727
  • # of teachers: 142
6
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$834
Property Tax -$232
Property Insurance -$122
Property Management Fees -$129
CASH FLOW
$74

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.

$240,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.9%
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$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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$21,293

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,478

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4253$1,4954$1,5505$1,700
$1,700
RENT COMPS ANALYSIS
  • 1223 Marie Ave Apopka, FL 1
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.97
    •  
  • 1019 Bear Lake Rd Apopka, FL 2
    • 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1964
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.05
    •  
  • 1226 Gay St Apopka, FL 3
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1960
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 3606 E Lina Ln Apopka, FL 4
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1959
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 1039 Branchwood Dr Apopka, FL 5
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Miguel Jimenez
1.407.715.2715
Tc Orlando Homes Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5929762
Last Updated: 03/13/2021
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