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588 Ustler Rd Apopka, FL 32712

3 Beds 2 Baths 1,706 sqft Built 1993

$299,990

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $175.84
  • 4 Days on Market
  • MLS # : O5921634
  • Updated Date : 02/11/2021 at 19:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,706 sqft
  • Baths : 2 full
Listing Agent

Home Wise Realty Group Inc

Listing Agent's Description

Excellent home. Lovingly cared for. Split floorpan, open kitchen, vaulted ceilings. Quiet Neighborhood. No HOA. Call me for a private showing.

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: Lake McCoy Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $85k331k

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

Neighborhood: Lake McCoy Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8302089

* 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
Dream Lake Elementary School Primary Regular 824 54 6
Apopka Middle School Middle Regular 1,104 60 3
Apopka High School High Magnet 3,158 144 5

Dream Lake Elementary School

  • Education Level: Primary
  • # of students: 824
  • # of teachers: 54
6
GreatSchools Rating

Apopka Middle School

  • Education Level: Middle
  • # of students: 1,104
  • # of teachers: 60
3
GreatSchools Rating

Apopka High School

  • Education Level: High
  • # of students: 3,158
  • # of teachers: 144
5
GreatSchools Rating
 

$269,991$329,989$299,990

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,042
Property Tax -$323
Property Insurance -$138
Property Management Fees -$129
CASH FLOW
$18

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.

$299,990

PROJECTED PRICE

$1,650

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
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-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,247

INVESTMENT

$85,247

Down Payment
$74,998
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,998
Loan Amount $224,993
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$19,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,646

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,5503$1,6504$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 588 Ustler Rd Apopka, FL 5
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 191 Summerset Dr Apopka, FL 1
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1982
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.87
    •  
  • 633 Key Deer Ct Apopka, FL 2
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1988
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 79 Lancer Oak Dr Apopka, FL 3
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1994
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 349 Bay St Apopka, FL 4
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1996
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
PROPERTY LISTING DETAILS
Scott Sheldon
1.407.919.9759
Home Wise Realty Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5921634
Last Updated: 02/11/2021
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