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3065 Floral Way E Apopka, FL 32703

3 Beds 2 Baths 1,787 sqft Built 1996

INVESTimate

$325,000

List Price

$1,660

$1,494 - $1,826

Rent Est.

$354,055  ( +8.94%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $181.87
  • 2 Days on Market
  • MLS # : O5887438
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,787 sqft
  • Baths : 2 full
Listing Agent

Florida Home Team Realty

Listing Agent's Description

BEAUTIFUL REMODELED and well maintained home with tall ceilings, 1/3 acre fenced lot, split floor plan and great Seminole County Schools! NEW in last 5 years: NEW ROOF, NEW Water Heater with timer, NEW High End Laminate Flooring and Tile, NEW plumbing fixtures: toilets, shower and faucets, NEW Cabinets and Granite in Kitchen and Bathrooms, NEW LED recessed Lighting, NEW Fence, NEW designer paint inside and out and more! Enter through the grand front door into the separate living and dining areas overlooking the front yard with LONG DRIVEWAY. The kitchen with GRANITE COUNTERS and PANTRY overlooks the family room and has a BREAKFAST BAR and DINING AREA. ALL APPLIANCES INCLUDED! The master suite is a relaxing retreat with LARGE WALK IN CLOSET. The luxurious master bath features DUAL SINKS, GRANITE COUNTERS, Soaking Tub, Separate Shower and private water closet. The secondary bedrooms on the opposite side of the house are a nice size with good closet space. Separate Laundry Room and the WASHER and DRYER are included. Large fenced yard and nice screened patio too! Great commuting patterns and walking distance to shopping. Welcome Home.

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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: Beechwoods

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $109k502k

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

Neighborhood: Beechwoods

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
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,494$1,826$1,660

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-$6.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,199
Property Tax -$314
Property Insurance -$143
HOA -$35
Property Management Fees -$149
CASH FLOW
-$181

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.

$325,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.51%

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,314

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,675

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,5923$1,6604$1,9595$1,995
$1,995
RENT COMPS ANALYSIS
  • 3065 Floral Way E Apopka, 3
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.93
    •  
  • 2620 Big Lake Ln Apopka, 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
    •  
  • 2843 Bermuda Ave N Apopka, 2
    • 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 1981
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,592
    • $0.87
    •  
  • 3851 Aiden Pl Apopka, 4
    • 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 1999
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,959
    • $1.01
    •  
  • 3882 Aiden Pl Apopka, 5
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 1999
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.02
    •  
PROPERTY LISTING DETAILS
Cheri Blackmon
1.407.617.6161
Florida Home Team Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5887438
Last Updated: 08/26/2020
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