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1556 Ormond Ave Apopka, FL 32703

3 Beds 2 Baths 1,025 sqft Built 1971

$175,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $170.73
  • 4 Days on Market
  • MLS # : O5908300
  • Updated Date : 11/27/2020 at 19:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,025 sqft
  • Baths : 1 full , 1 half
Listing Agent

Sellstate Ultimate Realty

Listing Agent's Description

Because three bedroom homes at this price are rare, this opportunity will be taken quickly! This three bedrooms, one and a half baths block home with quality metal roof, huge 20' x 14' covered lanai is set on a fenced lot. Convenient location Apopka location with quick access to all points in Central Florida. Contact you agent to see it today!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Breezy Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $50k265k

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

Neighborhood: Breezy Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7081707

* 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
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$646
Property Tax -$189
Property Insurance -$97
Property Management Fees -$110
CASH FLOW
$179

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.

$175,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.70%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$26,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,015

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$895
1$8952$1,1003$1,2204$1,3005$1,350
$1,350
RENT COMPS ANALYSIS
  • 1556 Ormond Ave Apopka, FL 3
    • 3 beds 2 baths ∙ 1,025 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,025 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $1.19
    •  
  • 1922 Haperon St Apopka, FL 1
    • 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1982
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.82
    •  
  • 1302 Floral Way Apopka, FL 2
    • 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1969
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.91
    •  
  • 302 Avalone Dr Apopka, FL 4
    • 3 beds 1 baths ∙ 1,127 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,127 Sqft ∙ Built 1963
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.15
    •  
  • 2133 Deanna Dr Apopka, FL 5
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1970
    LEASED 11/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.08
    •  
PROPERTY LISTING DETAILS
George Crawford, Pa
1.407.394.6586
Sellstate Ultimate Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5908300
Last Updated: 11/27/2020
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