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587 Portland Cir Apopka, FL 32703

3 Beds 3 Baths 1,375 sqft Built 1985

$269,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $196.29
  • 6 Days on Market
  • MLS # : O5910421
  • Updated Date : 12/12/2020 at 14:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,375 sqft
  • Baths : 2 full , 1 half
Listing Agent

Elite Real Estate And Property Management

Listing Agent's Description

This home is located in a quiet subdivision in the sought after neighborhood of Stockbridge in beautiful Apopka. The home sits on a large corner lot and is in excellent condition with a new roof and AC system with a 10 year transferrable warranty. The home has also been upgraded with all new kitchen cabinets, granite countertops, stainless steel appliances, light fixtures, bathroom vanities, all new flooring and a fresh paint job. The home also includes a fantastic screened in Florida room, a two car garage and Seminole County A rated school district.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Orlando metro employment growth is at 3.5% and predicted to grow at 2.5% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Stockbridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k265k

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

Neighborhood: Stockbridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7781707

* 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
Wekiva Elementary School Primary Regular 789 59 9
Teague Middle School Middle Regular 1,332 78 6
Lake Brantley High School High Regular 2,727 142 6

Wekiva Elementary School

  • Education Level: Primary
  • # of students: 789
  • # of teachers: 59
9
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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$996
Property Tax -$261
Property Insurance -$118
HOA -$65
Property Management Fees -$129
CASH FLOW
-$149

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.

$269,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.53%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,093

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$9953$1,2404$1,3905$1,420
$1,420
RENT COMPS ANALYSIS
  • 587 Portland Cir Apopka, FL 5
    • 3 beds 3 baths ∙ 1,375 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,375 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.03
    •  
  • 2906 Quincy Ct Apopka, FL 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1984
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.71
    •  
  • 2927 Hanover Ct Apopka, FL 2
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1984
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.73
    •  
  • 3239 Hunter Pl Apopka, FL 3
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1979
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.82
    •  
  • 3046 Windchime Cir N Apopka, FL 4
    • 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
    •  
PROPERTY LISTING DETAILS
William Dedelow, Ii
1.407.280.7710
Elite Real Estate And Property Management
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5910421
Last Updated: 12/12/2020
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