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1591 Stefan Cole Ln Apopka, FL 32703

4 Beds 2 Baths 1,855 sqft Built 1997

$285,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $153.64
  • 2 Days on Market
  • MLS # : O5931403
  • Updated Date : 03/20/2021 at 04:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,855 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome Home!!  Stop the car you have been searching for this home and it won't last long in this quick market. You will find it in great condition, taken care of by the original owner with a large covered porch and oversized lot perfect for adding a pool or hosting fun festivities. You will have great peace of mind knowing the roof is brand new! You will enjoy the easygoing community and convenience of your location. CLOSE TO EVERYTHING! A  4/2, split floor plan, with an open living space and fully fenced for your furry friends.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Wekiva Chase

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $69k292k

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

Neighborhood: Wekiva Chase

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
Clay Springs Elementary School Primary Regular 745 50 5
Piedmont Lakes Middle School Middle Regular 1,142 68 4
Wekiva High School High Regular 2,349 113 4

Clay Springs Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 50
5
GreatSchools Rating

Piedmont Lakes Middle School

  • Education Level: Middle
  • # of students: 1,142
  • # of teachers: 68
4
GreatSchools Rating

Wekiva High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 113
4
GreatSchools Rating
 

$256,500$313,500$285,000

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 -$990
Property Tax -$307
Property Insurance -$147
HOA -$24
Property Management Fees -$129
CASH FLOW
$3

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.

$285,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.56%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$14,062

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
  • $0.86

    LIST RENT PER SQFT
  • $1,753

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7253$1,7504$1,7955$1,799
$1,799
RENT COMPS ANALYSIS
  • 1591 Stefan Cole Ln Apopka, FL 1
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 1548 Silver Fox Cir Apopka, FL 2
    • 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 1985
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.90
    •  
  • 2114 Heatheroak Dr Apopka, FL 3
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1989
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 2324 Dresden Trl Apopka, FL 4
    • 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 1988
    LEASED 03/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 2303 Wekiva Ridge Rd Apopka, FL 5
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1983
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jonathan Wilson, Ii
1.407.832.4382
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5931403
Last Updated: 03/20/2021
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