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4946 Pierce Arrow Dr Apopka, FL 32712

3 Beds 2 Baths 1,280 sqft Built 1995

$245,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $191.41
  • 2 Days on Market
  • MLS # : O5904594
  • Updated Date : 11/08/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,280 sqft
  • Baths : 2 full
Listing Agent

Keller Williams At The Parks

Listing Agent's Description

Beautifully maintained 3 bedroom 2 bathroom home on a corner lot in Apopka! You will enjoy the open concept in the main living space as well as the high ceilings that makes the space feel light and airy. From the kitchen you have a view to the living room over the breakfast bar as well as the dining space in the kitchen. This home also has a split floor plan to create some privacy for the master bedroom away from the guest rooms. The spacious master bedroom includes a walk in closet and an ensuite that has a shower/ tub combo. On the other side of the home you will find the 2 guest rooms and a bathroom that mirrors the master bath. All 3 bedrooms have updated laminate flooring that was redone in 2016. The living room offers sliding glass doors that allows for natural light to fill the home as well as provides access to the screened in lanai and to the huge fenced back yard! The fence was installed in 2016 and provides extra privacy for the outdoor space. This home also has a NEW ROOF that as installed in 2017. Schedule your showing today!

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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$904
Property Tax -$264
Property Insurance -$112
Property Management Fees -$122
CASH FLOW
-$52

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.

$245,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.55%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,853

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,347

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4504$1,5445$1,545
$1,545
RENT COMPS ANALYSIS
  • 4946 Pierce Arrow Dr Apopka, FL 1
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.05
    •  
  • 5131 Kati Lynn Dr #1 Apopka, FL 2
    • 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1989
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.14
    •  
  • 6322 Fortune Ln Apopka, FL 3
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 2006
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.06
    •  
  • 5230 Kati Lynn Dr #2 Apopka, FL 4
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1989
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,544
    • $1.00
    •  
  • 5236 Kati Lynn Dr #3 Apopka, FL 5
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1992
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.01
    •  
PROPERTY LISTING DETAILS
Daniel Grieb
1.407.629.4420
Keller Williams At The Parks
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904594
Last Updated: 11/08/2020
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