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2056 Lynah Ave Apopka, FL 32703

6 Beds 3 Baths 2,654 sqft Built 2012

$359,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $135.27
  • 5 Days on Market
  • MLS # : O5925697
  • Updated Date : 02/28/2021 at 00:43
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,654 sqft
  • Baths : 3 full
Listing Agent

Amerihome Real Estate

Listing Agent's Description

One or more photo(s) has been virtually staged. Welcome to this move-in ready corner lot home with 2,654 sf of living space. This freshly painted home features 6 bedrooms, 3 full baths, stainless steel appliances, granite countertops, plenty of cabinets and counter space, a spacious pantry, recessed lighting, rear-entry two-car garage with overhead storage, so you can easily fit 2 cars. The covered back patio offers additional space for entertaining, overlooking the oversized private fenced backyard. The community features a Junior Olympic-sized resort-style swimming pool, fitness center, clubhouse, tot lot, Dog parks, and much more. The home is conveniently located near 429/414, and the new Florida Hospital Apopka is less than 1 mile away. This lovely home has so much to offer you need to come by and see for yourself! Call to schedule your private showing today, and don't miss out on this beautiful home.

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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,247
Property Tax -$387
Property Insurance -$195
HOA -$103
Property Management Fees -$129
CASH FLOW
$70

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.

$359,000

PROJECTED PRICE

$2,130

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,678

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,185

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,130
1$2,1302$2,1503$2,3004$2,500
$2,500
RENT COMPS ANALYSIS
  • 2056 Lynah Ave Apopka, FL 1
    • 6 beds 3 baths ∙ 2,654 Sqft ∙ Built 2012 6 beds 3 baths ∙ 2,654 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.80
    •  
  • 3552 Macauley Ct Ocoee, FL 2
    • 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
    •  
  • 3570 Strachey Ct Ocoee, FL 3
    • 5 beds 3 baths ∙ 2,868 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,868 Sqft ∙ Built 2005
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
  • 1729 Palmerston Cir Ocoee, FL 4
    • 5 beds 3 baths ∙ 2,874 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,874 Sqft ∙ Built 2006
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Marcelo Martinez
1.407.801.0000
Amerihome Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5925697
Last Updated: 02/28/2021
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