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1611 Owl Ridge Ct Apopka, FL 32712

3 Beds 2 Baths 1,888 sqft Built 1992

$312,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $165.25
  • 5 Days on Market
  • MLS # : O5909257
  • Updated Date : 12/03/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,888 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great opportunity to own this spacious home on a private corner lot minutes to Wekiva Springs State Park. As you pull up, you will be impressed with the side entry garage and lush landscaping. Inside has been tastefully redone to include wood laminte flooring in the main area, updated kitchen with granite and newer appliances. Space is not an issue, there are three bedrooms, two bathrooms. The master suite is large enough to accommodate a king size bed and a nice sitting area. The great room features a wood burning fireplace and leads to a spacious 12X25 screened lanai. Backyard is fully fenced and offers great shade trees. Community is in close proximity to schools, shopping and major roadways. Call today for a private showing. This home is priced to sell!

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

Zip Code: 32712

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k335k

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

Zip Code: 32712

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9301845

* 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
 

$280,800$343,200$312,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,151
Property Tax -$357
Property Insurance -$149
HOA -$58
Property Management Fees -$129
CASH FLOW
-$134

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.

$312,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$88,430

INVESTMENT

$88,430

Down Payment
$78,000
Rehab Estimate
$5,750
Closing Costs
$4,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,151

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,000
Loan Amount $234,000
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$8,873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7104$1,7255$1,750
$1,750
RENT COMPS ANALYSIS
  • 1611 Owl Ridge Ct Apopka, FL 3
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.91
    •  
  • 725 Hemlock Dr Apopka, FL 1
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
  • 1612 Sweetwater West Cir Apopka, FL 2
    • 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1996
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 1548 Silver Fox Cir Apopka, FL 4
    • 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
    •  
  • 924 Oasis Ct Apopka, FL 5
    • 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1996
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
PROPERTY LISTING DETAILS
Michael Morris
1.407.383.5434
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5909257
Last Updated: 12/03/2020
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