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62 Abbey Hollow Dr Apopka, FL 32712

4 Beds 3 Baths 2,297 sqft Built 1994

$299,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $130.56
  • 2 Days on Market
  • MLS # : O5912410
  • Updated Date : 12/19/2020 at 11:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,297 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lemontree Realty Llc

Listing Agent's Description

Check out this beautiful home in the highly desired Pines of Wekiva neighborhood. Enter through the foyer in to the formal living/dining room with a straight view all the way through to the gorgeous sparkling pool and screened in patio area. The family room has a cozy wood burning fireplace for those rare cold Florida winter nights. The first floor features beautiful wood laminate floors throughout, spacious interior laundry room, a half bath, and sliders out to the pool. The kitchen is fit for a chef with bright white cabinets, plenty of counter space, and a breakfast bar with plenty of seating space. The backyard is your own private oasis with the screened in pool, spa, and tranquil views of Buchan Pond. The large screened area has plenty of room to soak up the Florida sunshine but also has a covered area if you prefer the shade. Upstairs features 4 bedrooms, 2 with walk in closets, and 2 bathrooms. This lovely home has everything you need and is located minutes from popular restaurants, stores, major roadways, and is walking distance to Apopka High School!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,107
Property Tax -$323
Property Insurance -$173
HOA -$29
Property Management Fees -$129
CASH FLOW
$29

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.

$299,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

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-$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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,179

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,855

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7904$1,8505$2,085
$2,085
RENT COMPS ANALYSIS
  • 62 Abbey Hollow Dr Apopka, FL 3
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.78
    •  
  • 526 Birch Ct Apopka, FL 1
    • 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2002
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 329 Hideout Ln Apopka, FL 2
    • 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 2000
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 121 W Grossenbacher Dr Apopka, FL 4
    • 3 beds 3 baths ∙ 2,373 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,373 Sqft ∙ Built 2006
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 870 Stonechapel Ct Apopka, FL 5
    • 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1993
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,085
    • $0.89
    •  
PROPERTY LISTING DETAILS
Regan Jackson
1.407.421.1420
Lemontree Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5912410
Last Updated: 12/19/2020
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