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2034 Rafton Rd Apopka, FL 32703

4 Beds 3 Baths 2,565 sqft Built 2010

$332,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $129.43
  • 4 Days on Market
  • MLS # : O5930821
  • Updated Date : 03/20/2021 at 14:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,565 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Advantage Iii

Listing Agent's Description

**New Exterior Paint** This beautiful Move-In Ready 4 Bedroom/3 Bath home is located in the beautiful community of Emerson Park. As you enter you will be pleased with the well thought out living space. The foyer opens into 2 living spaces that can be used as a formal dining room, formal living room and/or den/library/office. Continue through an open hallway where you will be greeted by a chef’s dream kitchen. The open kitchen host expansive granite counter tops, gorgeous cabinetry, and stainless-steel appliances which opens to a large family room that is perfect for a gathering spot. The French doors open to the back patio and back yard is fenced in which adds a touch of privacy ready for your pleasure. Large bedrooms and fabulous closet space abound. The luxurious oversized Owners Suite is completed with a huge bathroom featuring a garden tub, shower and his and hers vanities and sinks. The community features a 3,500 sqft Clubhouse, a Junior Olympic-sized pool, fitness center, kid’s play area, dog park, 200 acres to ride bikes. New Florida Hospital Apopka less than 1 mile away. City center plans are in the works, proposed restaurants, retail, hotel, park, pond & boardwalk. New developments in Apopka are a strong indication that this area is having a drastic transformation which is sure to increase the values! Convenient to SR 429, SR 414, Across the street from the new AdventHealth Apopka Hospital, 3 miles to University of Florida, 4 miles to YMCA & Carter Airport, 8 miles to Zellwood Station, 10 miles to the RDV Sportsplex Athletic Club, Maitland Business Center, WJRR & to EA Sports.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Wheatley Elementary School Primary Regular 386 30 2
Wolf Lake Middle School Middle Regular 1,128 57 4
Wekiva High School High Regular 2,349 113 4

Wheatley Elementary School

  • Education Level: Primary
  • # of students: 386
  • # of teachers: 30
2
GreatSchools Rating

Wolf Lake Middle School

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

Wekiva High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 113
4
GreatSchools Rating
 

$298,800$365,200$332,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,153
Property Tax -$358
Property Insurance -$189
HOA -$103
Property Management Fees -$129
CASH FLOW
-$42

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.

$332,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.57%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$93,730

INVESTMENT

$93,730

Down Payment
$83,000
Rehab Estimate
$5,750
Closing Costs
$4,980

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,000
Loan Amount $249,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$12,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,039

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,890
1$1,8902$1,9953$2,0954$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 2034 Rafton Rd Apopka, FL 1
    • 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.74
    •  
  • 966 Seburn Rd Apopka, FL 2
    • 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2009
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 2178 Chickadee Dr Apopka, FL 3
    • 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 2010
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.79
    •  
  • 932 Grand Hilltop Dr Apopka, FL 4
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2018
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 3552 Macauley Ct Ocoee, FL 5
    • 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2006
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.80
    •  
PROPERTY LISTING DETAILS
Sabrina Davilus
1.561.542.7330
Keller Williams Advantage Iii
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5930821
Last Updated: 03/20/2021
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