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324 W Ella J Gilmore St Apopka, FL 32703

4 Beds 2 Baths 1,755 sqft Built 1967

$210,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $119.66
  • 2 Days on Market
  • MLS # : O5916397
  • Updated Date : 01/16/2021 at 12:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,755 sqft
  • Baths : 2 full
Listing Agent

Joystar Realty Group

Listing Agent's Description

Recent renovated single family home with no HOA. Spacious 4 bedroom 2 bath, and 5th bonus/office room with side door to exterior. Fresh paint interior and exterior. New Roof 2020, New water heater 2017, New Energy Efficient HVAC 2017, and New appliances 2017. This home features Solid Wood Kitchen Cabinet, granite countertop, Deep SS sink, Pull-out faucet, and built-in Refrigerator with ice maker & water dispenser. Huge master suite has walk-in and reach-in closets. Master Bath has a dual-sink vanity and a shower. Ceiling fans in many rooms. Tiles thru out the entire house for easy maintenance. Extra storage area near the back of the building. Huge fenced yard good for family funs or playground or entertainment or a swimming pool. BONUS: Washer & Dryer. Closed to Theme parks, shopping centers, and restaurants.

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: Braswell Court

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $43k265k

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

Neighborhood: Braswell Court

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6351707

* 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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$729
Property Tax -$226
Property Insurance -$141
Property Management Fees -$129
CASH FLOW
$194

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.

$210,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 8.9%
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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$27,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,363

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,3993$1,4204$1,549
$1,549
RENT COMPS ANALYSIS
  • 324 W Ella J Gilmore St Apopka, FL 3
    • 4 beds 2 baths ∙ 1,755 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,755 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.81
    •  
  • 459 Lake Opal Ct Apopka, FL 1
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.52
    •  
  • 191 Summerset Dr Apopka, FL 2
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1982
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.87
    •  
  • 578 Lake Doe Blvd Apopka, FL 4
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1984
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.94
    •  
PROPERTY LISTING DETAILS
Yenyun Li
1.407.797.7079
Joystar Realty Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5916397
Last Updated: 01/16/2021
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