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155 W Myrtle St Apopka, FL 32703

3 Beds 2 Baths 2,173 sqft Built 1969

$325,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1969
  • Price/Sqft : $149.56
  • 5 Days on Market
  • MLS # : O5903888
  • Updated Date : 11/05/2020 at 07:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,173 sqft
  • Baths : 2 full
Listing Agent

Re/max 200 Realty

Listing Agent's Description

Come fall in love with this tastefully updated and meticulously maintained three bedroom, two full bathroom, corner lot, POOL home in Apopka! This home is situated in a neighborhood with NO HOA and has been incredibly well taken care of and upgraded!! Featuring a glorious kitchen with TWO refrigerators, glass facia wood cabinets and plenty of space for the chef in the family, you will enjoy lots of homecooked meals as it will be a joy to prepare in this space. Attached to the kitchen is an incredibly spacious family room with beautiful flooring and crown molding. This room leads out to the back patio space, wrapping around the entire home and leading out to the sparkling private pool and detached screen room!! Plenty of space to entertain family and friends in this amazing backyard. The master bedroom is gigantic with a beautiful bathroom attached, that has also been lovingly updated. The two bedrooms on the opposite end of this split floor plan are also sizeable and have all been finished with craftsman baseboards and crown molding. Conveniently located and with tons of appeal, this home is going to sell fast, so don't delay on getting your private showing scheduled ASAP!!

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MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Neighborhood: Lakeside Homes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $69k281k

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

Neighborhood: Lakeside Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8951707

* 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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,199
Property Tax -$350
Property Insurance -$166
Property Management Fees -$144
CASH FLOW
-$259

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.

$325,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.49%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,304

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,130

    COMP ESTIMATED VALUE
  • $0.52

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,600
$1,600
RENT COMPS ANALYSIS
  • 155 W Myrtle St Apopka, FL 2
    • 3 beds 2 baths ∙ 2,173 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,173 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
  • 459 Lake Opal Ct Apopka, FL 1
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.52
    •  
PROPERTY LISTING DETAILS
Jordan Muench
1.407.921.4633
Re/max 200 Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5903888
Last Updated: 11/05/2020
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