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2315 Section Dr Apopka, FL 32703

4 Beds 2 Baths 1,310 sqft Built 1979

$229,990

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $175.56
  • 2 Days on Market
  • MLS # : S5042353
  • Updated Date : 11/08/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,310 sqft
  • Baths : 2 full
Listing Agent

Resource One Realty

Listing Agent's Description

Beautifully remodeled home with fully remodeled kitchen. Kitchen features granite counter tops and updated stainless steel appliances. This home also features laminate flooring throughout the house and a big back yard. Perfect for a first time home buyer.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Lake Apopka

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $52k331k

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

Neighborhood: Lake Apopka

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7322089

* 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
 

$206,991$252,989$229,990

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$849
Property Tax -$246
Property Insurance -$114
Property Management Fees -$121
CASH FLOW
$10

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.

$229,990

PROJECTED PRICE

$1,340

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$66,697

INVESTMENT

$66,697

Down Payment
$57,498
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,498
Loan Amount $172,493
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$13,449

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,028

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$550
1$5502$1,3403$1,395
$1,395
RENT COMPS ANALYSIS
  • 2315 Section Dr Apopka, FL 2
    • 4 beds 2 baths ∙ 1,310 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,310 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.02
    •  
  • 3640 Grice St Apopka, FL 1
    • 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1960
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $550
    • $0.55
    •  
  • 3625 Cochran St Apopka, FL 3
    • 4 beds 2 baths ∙ 1,368 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,368 Sqft ∙ Built 1960
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.02
    •  
PROPERTY LISTING DETAILS
Victor Caputis
1.321.578.0888
Resource One Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5042353
Last Updated: 11/08/2020
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