Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1304 Ashby Cir Apopka, FL 32703

3 Beds 2 Baths 1,779 sqft Built 1988

$280,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $157.39
  • 6 Days on Market
  • MLS # : O5906523
  • Updated Date : 11/19/2020 at 14:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,779 sqft
  • Baths : 2 full
Listing Agent

Caldwell Realty Services

Listing Agent's Description

This beautiful 3 bedroom 2 bath home is located in charming Piedmont Lakes. Community amenities include tennis courts, community pool, play ground, covered meeting area. Wekiva Springs is only minutes away as are shopping, I-4, SR 436 and the 429. Home has a nice fenced back yard and mature landscaping with sprinkler system. A formal living room and dining room, separate family room and a working kitchen along with n inside laundry room. 2 car garage and opener. Call today for a private showing.

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: Piedmont Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $108k331k

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

Neighborhood: Piedmont Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9072089

* 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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,033
Property Tax -$302
Property Insurance -$142
HOA -$36
Property Management Fees -$152
CASH FLOW
$25

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.

$280,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.60%

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$17,148

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,5003$1,5504$1,6905$1,695
$1,695
RENT COMPS ANALYSIS
  • 1304 Ashby Cir Apopka, FL 4
    • 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.95
    •  
  • 2620 Big Lake Ln Apopka, FL 1
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1991
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.85
    •  
  • 1233 Lake Piedmont Cir Apopka, FL 2
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1988
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
  • 2238 Grasmere Dr Apopka, FL 3
    • 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1988
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 1241 Lake Piedmont Cir Apopka, FL 5
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1993
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
PROPERTY LISTING DETAILS
Bob Caldwell, Iii
1.407.788.3700
Caldwell Realty Services
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906523
Last Updated: 11/19/2020
BESbswy