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2199 Pinyon Rd Apopka, FL 32703

4 Beds 4 Baths 2,676 sqft Built 2010

$354,500

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $132.47
  • 5 Days on Market
  • MLS # : O5927486
  • Updated Date : 03/06/2021 at 21:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,676 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Innovation

Listing Agent's Description

Come see this! Light, bright, inviting home located in the highly sought-after Emerson Park subdivision. Minutes from AdventHealth Apopka! This Centex, London model offers an enjoyable, open floor plan with bamboo flooring throughout perfect for entertaining guests. With the kitchen opening up to the great room, you will never miss a moment. The kitchen comes with Heritage Maple 36" cabinets with crown molding, a large Island, Granite countertops with Bullnose Edging, and all stainless steel, appliances. The fabulous, Master Suite is located downstairs providing complete privacy when needed. The Master Bath offers a great amount of space: Dual sinks, garden tub, walk-in shower, private water closet, and a large walk-in closet. You will never feel cramped! Upstairs you will find three bedrooms, plenty of closet space, and two full baths with a loft that can easily be converted to a 5th bedroom. The upgrades don't stop there! Additional features: NEW A/C, upgraded gutters, great room pre-wired for surround sound, upgraded interior trim package, floor outlet within the slab, elite electrical package, Whirlpool washer and dryer, upgraded Diamond Package in bathrooms, high ceilings in the garage with plenty of space for storage and enhanced attic insulation (R-38). End the day by relaxing on your oversized, covered patio, overlooking the beautifully landscaped backyard, or take a quick bike ride to one of your community's many amenities: Clubhouse, Pool, Fitness Center, or Playground.

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
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
 

$319,050$389,950$354,500

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,231
Property Tax -$382
Property Insurance -$187
HOA -$103
Property Management Fees -$129
CASH FLOW
$68

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.

$354,500

PROJECTED PRICE

$2,100

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,693

INVESTMENT

$99,693

Down Payment
$88,625
Rehab Estimate
$5,750
Closing Costs
$5,318

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,231

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,625
Loan Amount $265,875
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,361

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,060

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,1004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 2199 Pinyon Rd Apopka, FL 4
    • 5 beds 4 baths ∙ 2,527 Sqft ∙ Built 2010 5 beds 4 baths ∙ 2,527 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 966 Seburn Rd Apopka, FL 1
    • 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
    •  
  • 3598 Pelock Dr Apopka, FL 2
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2017
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 932 Grand Hilltop Dr Apopka, FL 3
    • 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
Ronald Trotter
1.321.331.1585
Re/max Innovation
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5927486
Last Updated: 03/06/2021
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