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424 Via Florence Dr 
Apopka, FL
32712
3 Beds 2 Baths 1,605 sqft
Built 1988
INVESTimate
$259,900
List Price
$74,624
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PROPERTY INFO
FACTS
- Built In 1988
- Price/Sqft : $161.93
- 2 Days on Market
- MLS # : O5887433
- Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
- Beds : 3
- Floor Size : 1,605 sqft
- Baths : 2 full
Listing Agent
Re/max Town & Country Realty
Listing Agent's Description
Welcome to this cute home in Oaks on the Lake subdivision! This is a one street neighborhood with approx. 19 homes. This 3 bedroom 2 bath house comes with Lake access to Lake McCoy, at the end of the street, and sits among large mature oak trees! As you enter the home, you step into the living room with a vaulted ceiling and large windows to provide much natural light. The floors are tile throughout so there is no carpet to clean. A wood burning fireplace is in place for cooler evenings. A split bedroom plan allows two good sized bedrooms and a shower/tub combo bath off of the Living room at one end of the home. The master bedroom suite is on the opposite side of the home with a walk-in closet and the master bath includes dual sinks, a soaking tub, and separate stand-up shower. The kitchen has been updated with solid surface counters, breakfast bar, a stainless steel refrigerator, a large stainless sink, and a pass through window that provides beautiful views of the back yard. The fenced back yard contains fruit trees of papaya, fig, dragon fruit, pineapple and bananas! The inside laundry room has a utility sink and built in cabinets. The home has been upgraded with some Smart features on the thermostat, irrigation controller, door lock, security system, smoke detector and garage door opener. Fantastic Apopka location- close to dining, shopping, and medical services. Call today!!
SEE MORE
- 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: Oaks on the Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Oaks on the Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,590 |
| EXPENSES | Loan Payment | -$959 |
| Property Tax | -$295 | |
| Property Insurance | -$132 | |
| HOA | -$23 | |
| Property Management Fees | -$143 | |
|
CASH FLOW
$38
|
||
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
$1,590
PROJECTED RENT
0.61%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.63% |
| Appreciation Year (1-5) | 7.01% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.99% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$74,624
LOAN DETAILS
$959
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $64,975 |
| Loan Amount | $194,925 |
5.25
YEARS SAVED
$17,233
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,590
LIST RENT -
$0.99
LIST RENT PER SQFT
-
$1,645
COMP ESTIMATED VALUE -
$1.03
COMP AVG. RENT PER SQFT
Comps Range
-
424 Via Florence Dr Apopka, 3
- 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1988
- Rent
- Rent Per SQFT
- $1,590
- $0.99
-
332 Mantis Loop Apopka, 1
- 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1987
LEASED 02/01/20- Rent
- Rent Per SQFT
- $1,500
- $1.02
-
633 Key Deer Ct Apopka, 2
- 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1988
LEASED 07/13/20- Rent
- Rent Per SQFT
- $1,550
- $0.97
-
319 Mantis Loop Apopka, 4
- 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1989
LEASED 04/01/20- Rent
- Rent Per SQFT
- $1,600
- $1.00
-
237 Mantis Loop Apopka, 5
- 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1988
LEASED 11/20/19- Rent
- Rent Per SQFT
- $1,624
- $1.11
PROPERTY LISTING DETAILS
1.407.416.5505
Re/max Town & Country Realty
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5887433
Last Updated: 08/26/2020
