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2446 Cricket Wood Ct Apopka, FL 32703

3 Beds 2 Baths 1,520 sqft Built 1988

$260,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $171.05
  • 2 Days on Market
  • MLS # : O5917240
  • Updated Date : 01/16/2021 at 12:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,520 sqft
  • Baths : 2 full
Listing Agent

Heroes Real Estate Group Llc

Listing Agent's Description

LOCATION! LOCATION! LOCATION! First Time Home Buyers or Investors this 3 bedroom 2 bathroom home in Piedmont Lakes can be yours. With tile throughout most of the home, it makes for easy cleaning and low maintenance. As you approach the driveway, which is located at the end of a cul-de-sac, you see the exterior of the home which has been repainted less than 2 years ago. Upon entering the front door, you are welcome to an inviting great room that is great for entertaining guests or enjoying time with family. Adjacent to the great room is the Dining Room and Kitchen. In the kitchen you have plenty of cabinet space and a breakfast nook as well. As you walk past the great room and towards the right side of the home, you will find all the bedrooms and baths. Near the front entrance of the home, you have one bedroom, that can easily be used as an office/den. As you walk down the hallway, you will come up to the master bedroom first. The master bedroom includes a spacious walk in closet and master bath that was redone less than two years ago. As you exit the master bedroom and continue down the hallway, you will find the guest bath and third bedroom. This lot has a large backyard that make the possibilities endless to what you can do with it. Conveniently located near Bear Lake, Wekiva Springs State Park, Altamonte Mall, major restaurants and stores, and less than 10 minutes away from major highways. In this charming neighborhood, you also have a community pool, covered picnic area, two tennis courts, and a playground.

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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$903
Property Tax -$280
Property Insurance -$127
HOA -$36
Property Management Fees -$129
CASH FLOW
$45

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.

$260,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.58%

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-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$18,977

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,516

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,5003$1,5204$1,6755$1,695
$1,695
RENT COMPS ANALYSIS
  • 2446 Cricket Wood Ct Apopka, FL 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.00
    •  
  • 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
    •  
  • 1233 Lake Piedmont Cir Apopka, FL 2
    • 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
    •  
  • 1314 Ashby Cir Apopka, FL 4
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1989
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.12
    •  
  • 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
Michael Melendez
1.407.595.0605
Heroes Real Estate Group Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917240
Last Updated: 01/16/2021
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