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

1515 Skye Ct Apopka, FL 32712

4 Beds 3 Baths 2,185 sqft Built 1996

$309,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $141.42
  • 4 Days on Market
  • MLS # : O5912309
  • Updated Date : 12/19/2020 at 14:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,185 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Exclusive Collection

Listing Agent's Description

Nestled in Errol Estates, this beautifully maintained custom built 4 bedroom, 2.5 bath home is on a large fenced corner lot with a view of Lake Francis. Step inside to a spacious open living room and kitchen plan with a private split bedroom set-up. The home office offers built-in storage for those books you have been meaning to read or displaying family photos and is located across from the cozy formal dining room. Double doors off the family room lead to your generous sized paver Florida room and includes private access to the master bedroom. The master suite includes a masterfully planned walk-in closet and and updated bathroom double vanities featuring modern finishes. Come see this amazing home, that is absolutely turn-key and move-in ready with a new roof in 2018, re-plumbed 2019, brand new lifeproof vinyl flooring throughout, renovated bathrooms, new fence 2019, new microwave, fresh exterior paint and new A/C! Don't hesitate, this is the one you have been looking for, it will be gone in a minute!

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
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
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,140
Property Tax -$333
Property Insurance -$167
HOA -$20
Property Management Fees -$129
CASH FLOW
$61

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.

$309,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.60%

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

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$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$28,182

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,824

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$1,8503$1,8994$1,9405$2,000
$2,000
RENT COMPS ANALYSIS
  • 1515 Skye Ct Apopka, FL 2
    • 4 beds 3 baths ∙ 2,185 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,185 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 1448 Errol Pkwy Apopka, FL 1
    • 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 1981
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.77
    •  
  • 1254 Stoneywood Way Apopka, FL 3
    • 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2000
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.87
    •  
  • 1458 Stoneywood Way Apopka, FL 4
    • 4 beds 2 baths ∙ 2,288 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,288 Sqft ∙ Built 2002
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.85
    •  
  • 2439 Breezy Meadow Rd Apopka, FL 5
    • 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sandy Fox
1.407.234.9551
Re/max Exclusive Collection
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5912309
Last Updated: 12/19/2020
BESbswy