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1430 Stormway Ct Apopka, FL 32712

3 Beds 3 Baths 2,347 sqft Built 1985

$324,500

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $138.26
  • 2 Days on Market
  • MLS # : G5039701
  • Updated Date : 03/13/2021 at 20:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,347 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Corcoran Connection Llc

Listing Agent's Description

Your new home is waiting in the desirable community of Errol Estate in Apopka. This is a well maintained 3 bedroom, 2.5 bath home on a half acre of land. Located in a cul-de-sac with a gorgeous fenced backyard. The spacious Great Room with its vaulted ceilings has a wood burning fireplace in the corner and is open to the kitchen and breakfast nook. One of the nicest features of this home is the huge glassed in back porch that runs nearly the length of the home. The porch has heat and air and is not included in the heated square footage.

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: Errol Estates Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $110k331k

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

Neighborhood: Errol Estates Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9302089

* 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
Apopka Elementary School Primary Regular 684 49 6
Wolf Lake Middle School Middle Regular 1,128 57 4
Apopka High School High Magnet 3,158 144 5

Apopka Elementary School

  • Education Level: Primary
  • # of students: 684
  • # of teachers: 49
6
GreatSchools Rating

Wolf Lake Middle School

  • Education Level: Middle
  • # of students: 1,128
  • # of teachers: 57
4
GreatSchools Rating

Apopka High School

  • Education Level: High
  • # of students: 3,158
  • # of teachers: 144
5
GreatSchools Rating
 

$292,050$356,950$324,500

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,127
Property Tax -$350
Property Insurance -$176
HOA -$20
Property Management Fees -$129
CASH FLOW
$88

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.

$324,500

PROJECTED PRICE

$1,890

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$91,743

INVESTMENT

$91,743

Down Payment
$81,125
Rehab Estimate
$5,750
Closing Costs
$4,868

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,127

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,125
Loan Amount $243,375
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$26,607

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,930

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$1,8503$1,8904$1,9405$1,974
$1,974
RENT COMPS ANALYSIS
  • 1430 Stormway Ct Apopka, FL 3
    • 3 beds 3 baths ∙ 2,347 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,347 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.81
    •  
  • 1448 Errol Pkwy Apopka, FL 1
    • 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 1981
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.77
    •  
  • 1558 Madison Ivy Cir Apopka, FL 2
    • 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 2005
    property image
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 1458 Stoneywood Way Apopka, FL 4
    • 4 beds 2 baths ∙ 2,288 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,288 Sqft ∙ Built 2002
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.85
    •  
  • 1549 Madison Ivy Cir Apopka, FL 5
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2005
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,974
    • $0.86
    •  
PROPERTY LISTING DETAILS
Nancy Simpson Eccles
1.352.735.7777
The Corcoran Connection Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: G5039701
Last Updated: 03/13/2021
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