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2310 Pelinion St Apopka, FL 32712

4 Beds 3 Baths 2,536 sqft Built 2003

INVESTimate

$359,900

List Price

$2,050

$1,845 - $2,255

Rent Est.

$385,129  ( +7.01%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $141.92
  • 4 Days on Market
  • MLS # : O5887033
  • Updated Date : 08/23/2020 at 19:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,536 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Experts Team Realty Inc

Listing Agent's Description

Must see beautiful property with all the amenity of a small paradise. Great for family and enjoy with family and friends.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Wolf Lake Elementary School

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

$323,910$395,890$359,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,328
Property Tax -$388
Property Insurance -$188
HOA -$48
Property Management Fees -$185
CASH FLOW
-$86

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.

$359,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.01%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$10,541

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,902

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,824
1$1,8242$1,8503$1,9674$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 2310 Pelinion St Apopka, 5
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.81
    •  
  • 1215 Mount Logan Dr #2 Apopka, 1
    • 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 2004
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,824
    • $0.75
    •  
  • 2216 Cerberus Dr Apopka, 2
    • 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2003
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.68
    •  
  • 805 Valleyway Dr Apopka, 3
    • 4 beds 4 baths ∙ 2,616 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,616 Sqft ∙ Built 2005
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,967
    • $0.75
    •  
  • 2331 Cerberus Dr Apopka, 4
    • 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 2002
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
PROPERTY LISTING DETAILS
Luis Montanez
1.407.219.0022
The Experts Team Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887033
Last Updated: 08/23/2020
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