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3511 Jamison Dr Apopka, FL 32703

3 Beds 2 Baths 1,831 sqft Built 1960

INVESTimate

$297,900

List Price

$1,610

$1,449 - $1,771

Rent Est.

$324,532  ( +8.94%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $162.70
  • 6 Days on Market
  • MLS # : O5886914
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,831 sqft
  • Baths : 2 full
Listing Agent

Re/max 200 Realty

Listing Agent's Description

Brand new home in Lake Brantley School District. The existing owner has completely replaced everything in the house with new materials except the roof which is only 2 years old. Spacious 3 bedrooms, 2 baths, 2-car garage, and over 1/4 of an acre. Solid block construction with fenced yard and one story. Brand new A/C system, brand new water heater, brand new ceiling fans, brand new doors, brand new double pane windows, and brand new gorgeous high end luxury laminate floor throughout. Designer's paint with beautiful baseboard. Quality granite counter top and matching backsplash in kitchen accent with trendy cabinetry is the chef's delight. Open floor plan with lots of windows to let natural light in plus plenty of storage. Septic tank was pumped and cleaned within a month. Low utility bill because it is on septic. Bear Lake Elementary, Teague Middle and Lake Brantley High are all top-rated Seminole schools. Quiet and peaceful family neighborhood and no HOA. Convenient to 414, 436, 441, shopping, entertainment, and restaurants. Fantastic opportunity to move into this lovely home with no maintenance issue for years to come, hurry up!

SEE MORE

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: Bear Lake Manor

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $69k265k

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

Neighborhood: Bear Lake Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8061707

* 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
 

$268,110$327,690$297,900

PURCHASE PRICE

$1,449$1,771$1,610

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$8.0k$10k

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 $1,610
EXPENSES Loan Payment -$1,099
Property Tax -$288
Property Insurance -$145
Property Management Fees -$145
CASH FLOW
-$67

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.

$297,900

PROJECTED PRICE

$1,610

PROJECTED RENT

0.54%

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$84,694

INVESTMENT

$84,694

Down Payment
$74,475
Rehab Estimate
$5,750
Closing Costs
$4,469

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,475
Loan Amount $223,425
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$9,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,707

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4953$1,5504$1,6105$1,695
$1,695
RENT COMPS ANALYSIS
  • 3511 Jamison Dr Apopka, 4
    • 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.88
    •  
  • 3046 Windchime Cir N Apopka, 1
    • 4 beds 2 baths ∙ 1,507 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,507 Sqft ∙ Built 1979
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.92
    •  
  • 1226 Gay St Apopka, 2
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1960
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 3606 E Lina Ln Apopka, 3
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1959
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 3620 Lake Shore Dr Apopka, 5
    • 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1960
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
PROPERTY LISTING DETAILS
Hazel Sun
1.407.629.6330
Re/max 200 Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5886914
Last Updated: 08/22/2020
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