Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

220 Bay St Apopka, FL 32712

4 Beds 2 Baths 1,758 sqft Built 1996

$275,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $156.43
  • 2 Days on Market
  • MLS # : S5045329
  • Updated Date : 01/23/2021 at 12:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,758 sqft
  • Baths : 2 full
Listing Agent

All Star Properties Of Central

Listing Agent's Description

Great 4 bedroom, 2 bath home with open and spacious floorplan! Roof replaced in 2020, back porch has been enclosed into a fully functional FL room/office with French doors and under main A/C, perfect for a home office! Kitchen features granite countertops, stainless steel appliances including refrigerator, range, dishwasher, microwave, and a generous walk-in pantry. Kitchen is open to the family and dining rooms (great room) for that open floor plan feel, great for entertaining! Master bedroom includes walk-in closet and full en-suite master bath. Adjoining master bath also connects to bedroom 2 making it perfect for a nursery. All bedrooms feature recent carpeting while main living areas feature recent laminate flooring. Other features of home include rain gutters, extra large hot water heater, and irrigation system.

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: Magnolia Oaks Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $94k331k

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

Neighborhood: Magnolia Oaks Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8222089

* 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$955
Property Tax -$296
Property Insurance -$141
HOA -$19
Property Management Fees -$129
CASH FLOW
$159

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.

$275,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$30,969

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,710

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,5503$1,6504$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 220 Bay St Apopka, FL 4
    • 4 beds 2 baths ∙ 1,758 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,758 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 191 Summerset Dr Apopka, FL 1
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1982
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.87
    •  
  • 633 Key Deer Ct Apopka, FL 2
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1988
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 349 Bay St Apopka, FL 3
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1996
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 35 E Oak St Apopka, FL 5
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1996
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
PROPERTY LISTING DETAILS
Christopher Harper
1.407.408.5736
All Star Properties Of Central
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5045329
Last Updated: 01/23/2021
BESbswy