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2913 Bermuda Ave S Apopka, FL 32703

4 Beds 2 Baths 1,538 sqft Built 1983

INVESTimate

$289,900

List Price

$1,430

$1,287 - $1,573

Rent Est.

$315,817  ( +8.94%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $188.49
  • 7 Days on Market
  • MLS # : O5886660
  • Updated Date : 08/23/2020 at 21:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,538 sqft
  • Baths : 2 full
Listing Agent

Infinite Real Estate Powered By Ilist

Listing Agent's Description

NEW ROOF! NO HOA! Come see this rare 4 bedroom 2 bath POOL home in the great community of Belle Air Hills. Great size lot with no rear neighbors. Tile in main living area and two of the bedrooms. Master bedroom offers updated shower with walk in closet. Kitchen is upgraded with granite counter tops and Hardwood floors leading to the dining room. Floor plan offers separation from Master and three bedrooms. Enjoy playing catch out back on this over sized lot or cool off in the pool with the beautiful view of palms trees. Walking distance to essential groceries, fantastic restaurants and just minutes from I-4 and the altamonte mall. (print is not drawn to scale) (More pictures of exterior to come as Roof was just completed today) DON'T LET THIS HOME SLIP AWAY, SCHEDULE YOUR APPOINTMENT TODAY!!

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bel Ai Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $93k293k

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

Neighborhood: Bel Ai Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8321707

* 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
Bear Lake Elementary School Primary Regular 1,040 72 6
Teague Middle School Middle Regular 1,332 78 6
Lake Brantley High School High Regular 2,727 142 6

Bear Lake Elementary School

  • Education Level: Primary
  • # of students: 1,040
  • # of teachers: 72
6
GreatSchools Rating

Teague Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 78
6
GreatSchools Rating

Lake Brantley High School

  • Education Level: High
  • # of students: 2,727
  • # of teachers: 142
6
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,070
Property Tax -$280
Property Insurance -$128
Property Management Fees -$129
CASH FLOW
-$176

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.

$289,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.94%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,353

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,384

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3803$1,3904$1,4305$1,475
$1,475
RENT COMPS ANALYSIS
  • 2913 Bermuda Ave S Apopka, 4
    • 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.93
    •  
  • 1039 Branchwood Dr Apopka, 1
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.79
    •  
  • 2620 Big Lake Ln Apopka, 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
    •  
  • 3046 Windchime Cir N Apopka, 3
    • 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
    •  
  • 1035 Branchwood Dr Apopka, 5
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1979
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.04
    •  
PROPERTY LISTING DETAILS
Justin Hess
1.321.689.8731
Infinite Real Estate Powered By Ilist
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5886660
Last Updated: 08/23/2020
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