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2425 Piedmont Lakes Blvd Apopka, FL 32703

3 Beds 2 Baths 1,510 sqft Built 1990

$279,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $185.36
  • 8 Days on Market
  • MLS # : O5906099
  • Updated Date : 11/18/2020 at 08:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,510 sqft
  • Baths : 2 full
Listing Agent

Re/max Properties Sw

Listing Agent's Description

Calling all Lakefront lovers! Own a piece of paradise at an unbelievable price! Peace and privacy with spectacular views best describes this charming model condition with many updates. 3 BR 2 BA in demand Apopka community of Piedmont Lakes. Upon entering you'll be drawn in by the open, bright split floor plan. Well designed layout perfect for entertaining. Hard surface floors, tile and bamboo throughout offer easy care and maintenance. What a way to begin or end your day taking in the water views on the large screen lanai. Imagine creating family meals in the spacious kitchen with water view inspiration. Eat in kitchen space with full stainless appliance package. Upgrades and improvements include: Granite Counters in Kitchen, Master & Second Baths, Jetted Tub in Master with Travertine surround, HVAC 2016, Water Heater 2015, Washer & Dryer 2017, new interior doors, Vessel sink in second bath, upgraded lighting and fixtures, tile floor in lanai, Plantation Shutters. Community Pool, Tot Lot & Tennis Court are included amenities with affordable HOA fee. Major roads, highways and neighborhood shopping all close by. Close before year end to retain the Homestead Exemption. Make this your new place to call home TODAY!

SEE MORE

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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,033
Property Tax -$302
Property Insurance -$126
HOA -$36
Property Management Fees -$142
CASH FLOW
-$59

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.

$279,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.56%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,431

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,3903$1,5004$1,5805$1,695
$1,695
RENT COMPS ANALYSIS
  • 2425 Piedmont Lakes Blvd Apopka, FL 4
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.05
    •  
  • 2620 Big Lake Ln Apopka, FL 1
    • 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
    •  
  • 3046 Windchime Cir N Apopka, FL 2
    • 4 beds 2 baths ∙ 1,507 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,507 Sqft ∙ Built 1979
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.92
    •  
  • 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
Helen Thompson
1.407.766.7537
Re/max Properties Sw
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5906099
Last Updated: 11/18/2020
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