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2007 Lynah Ave Apopka, FL 32703

3 Beds 2 Baths 1,840 sqft Built 2012

$315,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $171.20
  • 7 Days on Market
  • MLS # : O5917654
  • Updated Date : 01/21/2021 at 19:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,840 sqft
  • Baths : 2 full
Listing Agent

Urban City Realty Llc

Listing Agent's Description

Built in 2012 in the well maintain Emerson Park area. This beautiful home owned by 1 owner and is sure to leave a lasting impression. As you enter over the beautifully extended porch and driveway area, you will notice the high ceilings and hallway leading into a spacious open concept living room with a separate dining eating area and a kitchen that features a large island made of granite. The home comes equipped with modern stainless-steel appliances, energy efficient heating a cooling system and double pane windows and sliding doors leading to the completely fenced in back yard. Within the large master-suite you will find a large walk-in closet and a large master bathroom that will make this a place you will want to call home. This home has easy access to the 414 that connects to major highways where you can get to downtown Orlando and theme parks within 25 mins or so. Walking distance to New Apopka Hospital, driving distance to and from shopping centers and local businesses. This home is one to look at. Schedule your appointment today so you can see this beauty!

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: Emerson Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k339k

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

Neighborhood: Emerson Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9302025

* 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
 

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

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,094
Property Tax -$339
Property Insurance -$146
HOA -$103
Property Management Fees -$129
CASH FLOW
$39

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

$1,850

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 4.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$100k$200k$300k$400k$500k$600k$700k$800k

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 50% 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

5.42

YEARS SAVED

$18,255

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,950

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,838
1$1,8382$1,8503$1,8504$1,900
$1,900
RENT COMPS ANALYSIS
  • 2007 Lynah Ave Apopka, FL 3
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
  • 3024 Alessa Loop Apopka, FL 1
    • 3 beds 3 baths ∙ 1,667 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,667 Sqft ∙ Built 2019
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,838
    • $1.10
    •  
  • 913 Berry Leaf Ct Apopka, FL 2
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2017
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.12
    •  
  • 365 Willet Ave Apopka, FL 4
    • 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 2006
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
PROPERTY LISTING DETAILS
Michael Garcia
1.407.802.6290
Urban City Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917654
Last Updated: 01/21/2021
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