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34 Shorthorn Dr Apopka, FL 32712

3 Beds 2 Baths 1,874 sqft Built 1961

$259,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $138.69
  • 4 Days on Market
  • MLS # : O5915286
  • Updated Date : 01/08/2021 at 18:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,874 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great opportunity to own this recently renovated 3 bedroom, 2 bath home on .38 acres with no HOA! As you pull up to this well shaded corner lot you will feel the privacy, although still close to major roadways, shopping and dining. The interior boosts an open floor plan with large room sizes. The wood burning fireplace in the living room and plenty of natural light makes for an ideal entertaining space. Kitchen is equipped with all appliances and features granite countertops and an adjacent dining area. The 19X16 owners suite has an attached bathroom with an oversized tiled shower, dual vanities and access to the back yard for any future pool plans. The two additional bedrooms are on the opposite side of the home and share a remodeled bathroom. The property is fully fenced and gates allow for ample space to store and RV. State parks are minutes away to allow for optimal relaxation. Call today for a private showing before it is too late.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Zip Code: 32712

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k335k

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

Zip Code: 32712

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9301845

* 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$903
Property Tax -$280
Property Insurance -$148
Property Management Fees -$129
CASH FLOW
$270

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.

$259,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% 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 $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$39,336

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,005

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$2,300
$2,300
RENT COMPS ANALYSIS
  • 34 Shorthorn Dr Apopka, FL 1
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.92
    •  
  • 2060 W Kelly Park Rd Apopka, FL 2
    • 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 1975 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 1975
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.07
    •  
PROPERTY LISTING DETAILS
Michael Morris
1.407.383.5434
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5915286
Last Updated: 01/08/2021
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