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3620 Rochelle Ln Apopka, FL 32712

4 Beds 3 Baths 2,759 sqft Built 2003

$364,900

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $132.26
  • 8 Days on Market
  • MLS # : O5900496
  • Updated Date : 10/28/2020 at 09:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,759 sqft
  • Baths : 3 full
Listing Agent

Re/max Prime Properties

Listing Agent's Description

Welcome to 3620 Rochelle Lane, Rock Springs Ridge most desirable one story model, the Weldon, offering a three way split floor plan with endless amounts of privacy from every corner of the home. Mature landscaping and lush flower beds guide you along the sidewalk to the front door, and as you enter the home you are immediately greeted by new porcelain tile flooring in the foyer, and soaring views of the tall 10 foot ceilings and extensive crown molding. A formal dining space with enough room to seat 8 is perfectly positioned next to the kitchen and in between the butlers pantry. The front of the home also offers a large office with an abundance of natural light, which could also double as a flex space. The kitchen with center island is open to the living room and next to the breakfast nook, and has an exorbitant amount of upper and lower cabinets to make any chef envious. The master bedroom is situated in the far left corner of the home with it's own en-suite bath, walk in shower, soaking tub, separate water closet and two large walk-in closets. An additional bedroom flanks the other side of the living room with it's own walk in closet, and the remaining two bedrooms are positioned on the right hand side with their own respective full bathroom, which also provides exterior access to the sun-porch. In addition, the sun-porch can be accessed from the master bedroom and living room with sliding doors, and will be a tranquil place for you to enjoy the backyard while sipping a morning coffee. Only a few minutes to Northwest Recreation Complex, Wekiva State Park & breathtaking natural springs! **ENERGY EFFICIENCY AT IT'S FINEST....ELECTRIC BILLS FOR JUNE, JULY, AUGUST & SEPTEMBER ARE EACH UNDER $200.00 PER MONTH **NO REAR NEIGHBORS | 1/3 OF AN ACRE | 3 CAR GARAGE | NEW ENERGY STAR CERTIFIED DUAL PANE WINDOWS 2018 | NEW TWO-STAGE AIR HANDLER & CONDENSER 2020 | NEW R-38 RATING ATTIC INSULATION 2019 | NEW TINTED WINDOW FILM ON SUNPORCH WINDOWS | NEW REFRIGERATOR 2018**

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
Wolf Lake Elementary School Primary Regular 1,206 76 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Wolf Lake Elementary School

  • Education Level: Primary
  • # of students: 1,206
  • # of teachers: 76
8
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
 

$328,410$401,390$364,900

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,346
Property Tax -$393
Property Insurance -$201
HOA -$35
Property Management Fees -$173
CASH FLOW
-$228

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.

$364,900

PROJECTED PRICE

$1,920

PROJECTED RENT

0.53%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,320

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,7953$1,9004$1,9205$1,925
$1,925
RENT COMPS ANALYSIS
  • 3620 Rochelle Ln Apopka, FL 4
    • 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.70
    •  
  • 3664 Rolling Hills Ln Apopka, FL 1
    • 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2005
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.64
    •  
  • 3896 Long Branch Ln Apopka, FL 2
    • 4 beds 2 baths ∙ 2,502 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,502 Sqft ∙ Built 2004
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.72
    •  
  • 613 Cheviot Ct Apopka, FL 3
    • 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 2001
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
  • 3848 Long Branch Ln Apopka, FL 5
    • 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2005
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.67
    •  
PROPERTY LISTING DETAILS
Steven Horner
1.321.226.8499
Re/max Prime Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5900496
Last Updated: 10/28/2020
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