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1979 Lake Francis Dr Apopka, FL 32712

4 Beds 2 Baths 2,306 sqft Built 1990

$315,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $136.60
  • 2 Days on Market
  • MLS # : O5927573
  • Updated Date : 03/06/2021 at 20:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,306 sqft
  • Baths : 2 full
Listing Agent

Property Source Group Llc

Listing Agent's Description

Walking through the solid wood door you are welcomed by brand new laminate floors throughout. The kitchen and living room have an open concept, with a bar, and breakfast nook. The living room and separate formal living room share a 3 sided wood burning fireplace. The master bedroom features two walk in closets, brand new carpet, an office, and a spacious private bathroom with a jacuzzi tub. On the opposite side of the home are two more bedrooms with their own bathroom. Go out through the laundry room into the three car garage with ample storage space. The back porch is screened in, or head outside to lounge in the additional sitting area. The yard contains mature landscaping, and a working sprinkler system. The roof was replaced in 2015. The chimney and plumbing were redone in 2020. Newer garage door openers, hot water heater, security system and air conditioning system. This home is centrally located in Apopka with easy access to the 429.

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

Neighborhood: Errol Estates Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $110k331k

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

Neighborhood: Errol Estates Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9302089

* 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
Apopka Elementary School Primary Regular 684 49 6
Wolf Lake Middle School Middle Regular 1,128 57 4
Apopka High School High Magnet 3,158 144 5

Apopka Elementary School

  • Education Level: Primary
  • # of students: 684
  • # of teachers: 49
6
GreatSchools Rating

Wolf Lake Middle School

  • Education Level: Middle
  • # of students: 1,128
  • # of teachers: 57
4
GreatSchools Rating

Apopka High School

  • Education Level: High
  • # of students: 3,158
  • # of teachers: 144
5
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,094
Property Tax -$339
Property Insurance -$174
HOA -$20
Property Management Fees -$129
CASH FLOW
$113

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.

$315,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$28,496

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,926

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$1,8703$1,8994$1,9405$2,000
$2,000
RENT COMPS ANALYSIS
  • 1979 Lake Francis Dr Apopka, FL 2
    • 4 beds 2 baths ∙ 2,306 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,306 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.81
    •  
  • 1448 Errol Pkwy Apopka, FL 1
    • 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 1981
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.77
    •  
  • 1254 Stoneywood Way Apopka, FL 3
    • 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2000
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.87
    •  
  • 1458 Stoneywood Way Apopka, FL 4
    • 4 beds 2 baths ∙ 2,288 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,288 Sqft ∙ Built 2002
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.85
    •  
  • 2439 Breezy Meadow Rd Apopka, FL 5
    • 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
PROPERTY LISTING DETAILS
Kirsten Rodriguez
1.407.744.4316
Property Source Group Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5927573
Last Updated: 03/06/2021
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