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241 Malean Dr Apopka, FL 32712

3 Beds 2 Baths 1,164 sqft Built 1987

$229,500

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $197.16
  • 4 Days on Market
  • MLS # : T3282716
  • Updated Date : 01/01/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,164 sqft
  • Baths : 2 full
Listing Agent

By Owner.com

Listing Agent's Description

Conveniently located near the heart of Apopka. This 3 bedroom/2 bath home offers a split floor plan, a galley kitchen (all major appliances included) oak cabinets and a built-in snack bar. Tile/laminate floors and 6 panel interior doors throughout. The garage includes an electric garage door opener, utility sink and a pet door. The carpeted screened porch looks out to the privacy fenced in backyard with an irrigation system and mature fruit trees. One side of the house has double gates; perfect for your boat or trailer storage. A short mile walk to the elementary, middle and high school. Kit Land Nelson Park and the CPS Sportsplex is just 1.5 miles from your house. Wekiwa Springs State Park and Sweetwater Golf and Country Club are both within 5 miles. Shopping, restaurants and major highways are all nearby. Please contact Ashley @ 407-718-1114 to schedule a tour.

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

Neighborhood: Dream Lake North

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $59k265k

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

Neighborhood: Dream Lake North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7241707

* 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
 

$206,550$252,450$229,500

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$847
Property Tax -$247
Property Insurance -$106
Property Management Fees -$129
CASH FLOW
$52

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.

$229,500

PROJECTED PRICE

$1,380

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
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$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,568

INVESTMENT

$66,568

Down Payment
$57,375
Rehab Estimate
$5,750
Closing Costs
$3,443

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$847

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,375
Loan Amount $172,125
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$19,192

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,123

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$800
1$8002$8953$1,3804$1,3955$1,450
$1,450
RENT COMPS ANALYSIS
  • 241 Malean Dr Apopka, FL 3
    • 3 beds 2 baths ∙ 1,164 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,164 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.19
    •  
  • 255 Lalla Ln Apopka, FL 1
    • 3 beds 2 baths ∙ 930 Sqft ∙ Built 1986 3 beds 2 baths ∙ 930 Sqft ∙ Built 1986
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $800
    • $0.86
    •  
  • 181 Summerset Dr Apopka, FL 2
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1982
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.77
    •  
  • 281 Meagan Beth Rd Apopka, FL 4
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1995
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.09
    •  
  • 251 Rhapsody Ln Apopka, FL 5
    • 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 2001
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.14
    •  
PROPERTY LISTING DETAILS
Greg Sullivan
1.800.296.9637
By Owner.com
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3282716
Last Updated: 01/01/2021
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