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3512 Gleaves Ct Apopka, FL 32703

3 Beds 2 Baths 1,682 sqft Built 1964

$259,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $153.98
  • 4 Days on Market
  • MLS # : S5047026
  • Updated Date : 02/26/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,682 sqft
  • Baths : 2 full
Listing Agent

Grp

Listing Agent's Description

Come check out this 3-bedroom, 2-bath home conveniently located close to 436, 414 and I-4. Property needs some TLC. The seller and listing agent have little to no knowledge of the properties history. Buyer is responsible for doing their own due diligence. ***For Sellers Convenience, they will only accept CASH or CONVENTIONAL Offers***Seller will not make any repairs***Incomplete offers and offers that do not include ALL of the attachments in the MLS will not be reviewed by the seller. If it is still active in the MLS, the seller has not accepted an offer. No need to ask. Seller responds to most offers in 24 hours but please allow up to 72 hours for a response.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Gleaves

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $87k274k

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

Neighborhood: Gleaves

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8811707

* 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
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$900
Property Tax -$250
Property Insurance -$137
Property Management Fees -$129
CASH FLOW
$125

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.

$259,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 8.9%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$24,745

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,690

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5403$1,5504$1,6255$1,700
$1,700
RENT COMPS ANALYSIS
  • 3512 Gleaves Ct Apopka, FL 2
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.92
    •  
  • 1226 Gay St Apopka, FL 1
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1960
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 3606 E Lina Ln Apopka, FL 3
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1959
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 1220 Marie Ave Apopka, FL 4
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1960
    LEASED 12/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.94
    •  
  • 1039 Branchwood Dr Apopka, FL 5
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Hein Karman
1.407.924.4402
Grp
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: S5047026
Last Updated: 02/26/2021
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