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2405 Piedmont Lakes Blvd Apopka, FL 32703

3 Beds 2 Baths 1,666 sqft Built 1989

$345,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $207.08
  • 4 Days on Market
  • MLS # : O5917212
  • Updated Date : 01/22/2021 at 15:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,666 sqft
  • Baths : 2 full
Listing Agent

Watson Realty Corp

Listing Agent's Description

Your pool home search is over! This lovely home located on Lake Jackson awaits its new owners. The home boasts vaulted ceilings, tile throughout the home except in bedrooms. The kitchen has tons of natural lighting, extra deep double sinks, solid oak cabinets, huge pantry closet and plenty of room for an island & breakfast nook. Enjoy your solar heated pool all year round along with your pool bar and outside kitchen complete with electricity & sink. Worried about losing power during hurricanes? -don't. This home has whole house generator plug and slab. Spend quiet evenings & sunsets relaxing and enjoying your lakeview. Updates: Roof 5yrs old & rain gutters, A/C & hot water heater, 3yrs old, Complete home re-plumb in 2004, Pool cage 3yrs old, Kenmore stainless steel fingerprint-resistant appliances, new washer/dryer, Kohler kitchen fixtures, whole-house video surveillance, New vinyl fencing. Don't miss your opportunity to own this amazing home. Call today.

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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: Piedmont Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $110k334k

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

Neighborhood: Piedmont Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9122089

* 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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,198
Property Tax -$372
Property Insurance -$136
HOA -$36
Property Management Fees -$129
CASH FLOW
-$361

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.

$345,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 10.6%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,504

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,3803$1,5004$1,5105$1,695
$1,695
RENT COMPS ANALYSIS
  • 2405 Piedmont Lakes Blvd Apopka, FL 4
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.91
    •  
  • 1201 Lake Piedmont Cir Apopka, FL 1
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1989
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.74
    •  
  • 2620 Big Lake Ln Apopka, FL 2
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1991
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.85
    •  
  • 1233 Lake Piedmont Cir Apopka, FL 3
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1988
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
  • 1241 Lake Piedmont Cir Apopka, FL 5
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1993
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
PROPERTY LISTING DETAILS
Clair Strutt
1.407.430.3053
Watson Realty Corp
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917212
Last Updated: 01/22/2021
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