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2307 Mountain Apple Way Apopka, FL 32712

4 Beds 3 Baths 2,509 sqft Built 2008

$415,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $165.40
  • 2 Days on Market
  • MLS # : O5920316
  • Updated Date : 01/30/2021 at 15:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,509 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome home to this gorgeous 4 Bedroom 3 Bath home in Fisher Plantation! This home features a fantastic split plan that is perfect for entertaining. The kitchen has 42 in cabinets and granite counter tops, as well as stainless steel appliances. There is a breakfast nook as well as a bar for dining. The master bedroom has wood laminate flooring, large windows and a sliding glass door that leads out to the pool area. The master bath has dual sinks, a soaking tub and walk in shower. And speaking of walk in- you can do that for DAYS in the master closet! It's a must see! The guest rooms are spacious and all have ceiling fans. The formal dining room has beautiful wood floors and plenty of room for a 8 person table, with access from the front entry or the garage entry. The patio area has a gorgeous screened pool, stone pavers and plenty of room for outdoor cooking and entertaining. Make an appointment to come see this move in ready home today Conveniently located within minutes from the Northwest Recreation Complex, Rock Springs Run State Preserve, and Kelly Park.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Wolf Lake Elementary School Primary Regular 1,206 76 8
Wolf Lake Middle School Middle Regular 1,128 57 4
Apopka High School High Magnet 3,158 144 5

Wolf Lake Elementary School

  • Education Level: Primary
  • # of students: 1,206
  • # of teachers: 76
8
GreatSchools Rating

Wolf Lake Middle School

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

Apopka High School

  • Education Level: High
  • # of students: 3,158
  • # of teachers: 144
5
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,441
Property Tax -$447
Property Insurance -$186
HOA -$59
Property Management Fees -$129
CASH FLOW
-$263

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.

$415,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.48%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$5,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,988

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,0003$2,0004$2,0255$2,088
$2,088
RENT COMPS ANALYSIS
  • 2307 Mountain Apple Way Apopka, FL 3
    • 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 2464 Breezy Meadow Rd Apopka, FL 1
    • 4 beds 2 baths ∙ 2,365 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,365 Sqft ∙ Built 2007
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.76
    •  
  • 2439 Breezy Meadow Rd Apopka, FL 2
    • 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 2052 Tournament Dr #4a Apopka, FL 4
    • 3 beds 2 baths ∙ 2,463 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,463 Sqft ∙ Built 1994
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.82
    •  
  • 2210 Candlenut Cir Apopka, FL 5
    • 5 beds 3 baths ∙ 2,835 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,835 Sqft ∙ Built 2007
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,088
    • $0.74
    •  
PROPERTY LISTING DETAILS
Michelle Forbes
1.407.259.9968
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5920316
Last Updated: 01/30/2021
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