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1851 Queen Palm Dr Apopka, FL 32712

3 Beds 2 Baths 1,678 sqft Built 1994

INVESTimate

$299,900

List Price

$1,610

$1,449 - $1,771

Rent Est.

$320,923  ( +7.01%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1994
  • Price/Sqft : $178.72
  • 10 Days on Market
  • MLS # : V4915051
  • Updated Date : 08/18/2020 at 09:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,678 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Coast Realty

Listing Agent's Description

Come enjoy your new home in The Palms!! MOVE IN READY! This recently renovated spacious and open feeling 3 bedroom 2 bath split plan home has all of the finishes you are looking for (and see on TV) with a terrific floor plan! White Carrara Marble Counters in kitchen and bathrooms, Maytag Stainless appliances, farm style large sink, fresh neutral grey paint, beautiful weathered look grey high grade laminate flooring, new carpets in the bedrooms, new white wood blinds, all new brushed nickel matching lighting fixtures throughout. The master bathroom has a large walk-in shower and a separate garden soaking tub for you to relax. This entertainers home has a large all season room off of the family room, a huge deck with built in seating, a partially fenced yard with lush mature landscape, and a workshop/shed. Roof 7 years new, AC 2009, siemens electric panel, and the home comes with a transferrable termite bond. This home is where you can live like a Queen and get it all with none of the work as it has been done for you. Schedule your private showing today!

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,107
Property Tax -$323
Property Insurance -$136
HOA -$14
Property Management Fees -$145
CASH FLOW
-$115

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.

$299,900

PROJECTED PRICE

$1,610

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.01%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,476

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,632

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6103$1,6504$1,7255$1,750
$1,750
RENT COMPS ANALYSIS
  • 1851 Queen Palm Dr Apopka, 2
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.96
    •  
  • 725 Hemlock Dr Apopka, 1
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
  • 424 Knoll Tree Ln Apopka, 3
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 1981
    property image
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 528 Bison Cir #4 Apopka, 4
    • 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, 5
    • 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
    •  
PROPERTY LISTING DETAILS
Katie Parker
1.386.216.1770
Coldwell Banker Coast Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: V4915051
Last Updated: 08/18/2020
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