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1903 Tindaro Dr Apopka, FL 32703

3 Beds 2 Baths 1,558 sqft Built 1988

$275,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $176.51
  • 5 Days on Market
  • MLS # : O5918275
  • Updated Date : 01/21/2021 at 20:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,558 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

One or more photo(s) has been virtually staged. This Apopka one-story home offers granite countertops and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Zip Code: 32703

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $84k265k

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

Zip Code: 32703

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8611707

* 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$955
Property Tax -$296
Property Insurance -$129
HOA -$21
Property Management Fees -$129
CASH FLOW
$100

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.

$275,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.9%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% 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 $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$22,718

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,615
1$1,6152$1,6253$1,6304$1,6455$1,675
$1,675
RENT COMPS ANALYSIS
  • 1903 Tindaro Dr Apopka, FL 3
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.05
    •  
  • 1369 Tindaro Dr Apopka, FL 1
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1988
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.99
    •  
  • 1976 Borga Ct Apopka, FL 2
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1989
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.06
    •  
  • 1556 Margarete Crescent Dr Apopka, FL 4
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1990
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.07
    •  
  • 1380 Tindaro Dr Apopka, FL 5
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1990
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.05
    •  
PROPERTY LISTING DETAILS
Alli Johnston
1.407.634.1744
Opendoor Brokerage Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5918275
Last Updated: 01/21/2021
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