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644 Bay Bridge Cir Apopka, FL 32703

3 Beds 3 Baths 2,225 sqft Built 2018

$335,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $150.56
  • 4 Days on Market
  • MLS # : O5913894
  • Updated Date : 12/31/2020 at 15:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,225 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Results Realty

Listing Agent's Description

Welcome home to the Gated community of Clear Lake Landings where you will find this 2 year old beautiful show home that shows better than most model homes. This 3 bedroom, 2 & a half bath home boasts over 2,220ft’ of living & a bonus flex room this is great for your home office, student learning area or home gym!! Connect with the outdoors and wind down on your cozy front porch or spacious screened-in rear lanai enjoying your large corner lot with Pristine Landscaping. Inside you will find Brand New carpet with upgraded padding, quartz countertops including a large kitchen island/bar, all whirlpool appliances including a double in-wall oven, water conditioning system, low HOA, Master Suite with shower and roman tub & Massive master walk-in closet. Located moments from schools, entertainment, shopping, dining, Camp Wewa & the great Florida outdoors, this home should definitely be on your Must See list! Seller is also offering a one-year Home Warranty to give your buyers worry free living.

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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

Zip Code: 32703

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $84k265k

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

Zip Code: 32703

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8611707

* 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,236
Property Tax -$379
Property Insurance -$169
HOA -$82
Property Management Fees -$129
CASH FLOW
-$55

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.

$335,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.58%

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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$15,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,825

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6253$1,7504$1,9405$1,974
$1,974
RENT COMPS ANALYSIS
  • 644 Bay Bridge Cir Apopka, FL 4
    • 3 beds 3 baths ∙ 2,225 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,225 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.87
    •  
  • 1673 Scrub Jay Rd Apopka, FL 1
    • 4 beds 2 baths ∙ 2,161 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,161 Sqft ∙ Built 2007
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 1667 Scrub Jay Rd Apopka, FL 2
    • 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 2007
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.82
    •  
  • 2160 Chickadee Dr Apopka, FL 3
    • 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 2006
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 1549 Madison Ivy Cir Apopka, FL 5
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2005
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,974
    • $0.86
    •  
PROPERTY LISTING DETAILS
Joseph Doher
1.407.325.8163
Bhhs Results Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5913894
Last Updated: 12/31/2020
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