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2407 Wekiva Walk Way Apopka, FL 32703

4 Beds 2 Baths 2,087 sqft Built 1998

$310,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $148.54
  • 4 Days on Market
  • MLS # : O5919960
  • Updated Date : 01/29/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,087 sqft
  • Baths : 2 full
Listing Agent

Hj Best Properties Llc

Listing Agent's Description

GEORGEUS 4 BEDROOM, TWO BATHS HOME AT DESIDERABLE WEKIVA WALK NEAR MAIN RD, RESTAURANTS, AND OTHER NEEDED BUSSINESSES. HOME HAS AN EXECELENT OPEN FLOOR PLAN AND EXTENSIVE LAMINATE WOOD AND BEAUTIFULL CERAMIC TITLES. FROM BAYED WINDOW IN DINING AREA & ARCHED OPENINGS TO LIVING AREAS THIS HOME FEAUTURES DISTINTIVE ARQUITECTURAL DESIGN. MULTIPLE PALLADIUM WINDOWS GRACE THE FRONT AS WELL AS GENEROUS WINDOW IN THE FAMILY ROOM ALONG WITH THE FIREPLACE & VAULTED CEILINGS FOR AN EXPANSIVE AIRY FEEL. THE KITCHEN HAS BEEN REMODELED WITH WOOD CABINTS,TILE BACKPLASH $ COMPLETE STAINLESS STEEL APPLIANCES.THE REAR COVERED PORCH FEATURES A NICE SUMMER KITCHEN WITH A CERAMIC TITLE BAR & GRILL . HOME ICLUDES A WATER SOFTENER SYSTEM AND MUCH MORE.. A MUST SEE

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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

Neighborhood: Wekiva Walk

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k359k

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

Neighborhood: Wekiva Walk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9302089

* 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
Clay Springs Elementary School Primary Regular 745 50 5
Piedmont Lakes Middle School Middle Regular 1,142 68 4
Wekiva High School High Regular 2,349 113 4

Clay Springs Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 50
5
GreatSchools Rating

Piedmont Lakes Middle School

  • Education Level: Middle
  • # of students: 1,142
  • # of teachers: 68
4
GreatSchools Rating

Wekiva High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 113
4
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,077
Property Tax -$334
Property Insurance -$161
HOA -$50
Property Management Fees -$129
CASH FLOW
$20

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.

$310,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.57%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$19,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,837

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,7703$1,9804$2,0005$2,075
$2,075
RENT COMPS ANALYSIS
  • 2407 Wekiva Walk Way Apopka, FL 2
    • 4 beds 2 baths ∙ 2,087 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,087 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.85
    •  
  • 2540 Wekiva Walk Way Apopka, FL 1
    • 4 beds 2 baths ∙ 2,129 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,129 Sqft ∙ Built 1998
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.66
    •  
  • 2321 Sweetaire Ct Apopka, FL 3
    • 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 1986
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.93
    •  
  • 219 Chestnut Creek Dr Apopka, FL 4
    • 4 beds 2 baths ∙ 2,072 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,072 Sqft ∙ Built 2001
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
  • 2229 Bluff Oak St Apopka, FL 5
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 1985
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.96
    •  
PROPERTY LISTING DETAILS
Hilton Soto
1.407.895.3044
Hj Best Properties Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5919960
Last Updated: 01/29/2021
BESbswy