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2264 Argo Wood Way Apopka, FL 32712

3 Beds 2 Baths 2,210 sqft Built 2016

$370,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $167.42
  • 3 Days on Market
  • MLS # : O5917255
  • Updated Date : 01/16/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,210 sqft
  • Baths : 2 full
Listing Agent

Tolaris Realty Group Llc

Listing Agent's Description

You will fall in love with this One -Story Contemporary home built in 2016. This beautifully landscaped Estates of Wekiva home has 3 bedrooms, 2 baths, an office/den, 3 car garage and features a kitchen/family room combo as well as a dining/living room combo. Ceramic tile floors throughout main living areas and Low-E Energy Efficient Double Pane Tilt in Windows. Kitchen has quartz countertops, stainless steel appliances, 42” maple cabinets, large island with breakfast bar, walk-in pantry and breakfast area. The large family room with sliding glass doors guides your attention to a view of your back screened in patio and large fenced in yard. Home offers plenty of open space for family gatherings. French double doors lead you into the large master bedroom with tray ceiling, master bath with granite counter tops and walk-in closet. Two more bedrooms for guests or family with a large 2nd bathroom across the hallway. Plenty of windows allowing for natural light in. Home is in pristine condition and is ready for its new homeowner. This home is nestled among a small community of 31 homes and sits directly across from the tot lot. Make an appointment today to see this home in person and appreciate its beauty. This home will not last, so do not miss out. Conveniently located close to shopping, schools, major highways, and Wekiva State Park. Property may be under audio/video surveillance.

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

Zip Code: 32712

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k335k

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

Zip Code: 32712

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9301845

* 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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,285
Property Tax -$399
Property Insurance -$168
HOA -$128
Property Management Fees -$129
CASH FLOW
-$139

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.

$370,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.0%
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-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$8,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,834

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,9704$1,9955$2,029
$2,029
RENT COMPS ANALYSIS
  • 2264 Argo Wood Way Apopka, FL 3
    • 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.89
    •  
  • 1612 Sweetwater West Cir Apopka, FL 1
    • 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1996
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 2444 Cimmaron Ash Way Apopka, FL 2
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2002
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 1209 Reagans Reserve Blvd Apopka, FL 4
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2001
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 1688 Sweetwater West Cir Apopka, FL 5
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1996
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,029
    • $0.85
    •  
PROPERTY LISTING DETAILS
Ana Somers
1.954.618.9218
Tolaris Realty Group Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917255
Last Updated: 01/16/2021
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