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1740 Stefan Cole Ln Apopka, FL 32703

4 Beds 2 Baths 1,632 sqft Built 1997

$274,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $168.44
  • 5 Days on Market
  • MLS # : G5037547
  • Updated Date : 01/14/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,632 sqft
  • Baths : 2 full
Listing Agent

Wheatley Realty Group

Listing Agent's Description

WOW! A move in ready, corner lot, 4 bedroom home with SOLAR! located in Wekiva Chase, a small neighborhood with low HOA and convenient to major highways and shopping! This home is a true split floor plan, with 2 living areas, eat in kitchen area, kitchen island and open concept to the main living room! the home has tile through out living areas and laminate in bedrooms. The inside laundry room located off the 2 car garage entrance. the kitchen features white cabinets, solid stone counter tops and stainless appliances. the roof is only 3 years old and A/C is only 4 years old. The backyard is fully fenced and the shed is included in the sale, Come checkout this property and everything it has to offer today!

SEE MORE

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: 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
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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$955
Property Tax -$296
Property Insurance -$134
HOA -$21
Property Management Fees -$129
CASH FLOW
-$4

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.

$274,900

PROJECTED PRICE

$1,530

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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$13,159

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,510

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,5303$1,7254$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 1740 Stefan Cole Ln Apopka, FL 2
    • 4 beds 2 baths ∙ 1,632 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,632 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.94
    •  
  • 1614 Stefan Cole Ln Apopka, FL 1
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1997
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.75
    •  
  • 528 Bison Cir #4 Apopka, FL 3
    • 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1988
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.99
    •  
  • 924 Oasis Ct Apopka, FL 4
    • 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1996
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 2114 Heatheroak Dr Apopka, FL 5
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1989
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
PROPERTY LISTING DETAILS
Matthew Wheatley
1.407.702.8351
Wheatley Realty Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: G5037547
Last Updated: 01/14/2021
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