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734 May Day Drive Apopka, FL 32712

3 Beds 3 Baths 2,220 sqft Built 1990

$379,900

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $171.13
  • 2 Days on Market
  • MLS # : G5038678
  • Updated Date : 02/14/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,220 sqft
  • Baths : 2 full , 1 half
Listing Agent

Catherine Hanson Real Estate,

Listing Agent's Description

Enjoy Florida living year round in a rocking chair on the front porch with a glass of lemonade or lounging by the pool in the warm sunshine during the summer or reading a book by the brick fireplace during the winter. The gorgeous kitchen has stunning granite counter tops, stainless appliances and a beautiful view of the backyard. Enjoy your meals or play board games in the dining room, at the breakfast bar or out back by the pool. This home is absolutely perfect for entertaining your friends and family. The downstairs master bedroom has two walk in closets and the ensuite includes a tub with a separate shower stall and two vanities. Meander up the stairs to the second story to find two more bedrooms and an updated bathroom with granite countertops and a walk in shower. The bonus room could be used as a 4th bedroom, office or playroom. There is ample storage in the oversized garage with pegboard walls and two walk in closets on the second floor. The entire lanai is complete with pavers and a massive screen enclosure with a large grilling area for you to BBQ and to relax in the afternoon reading a book, sipping a drink or taking a dip in the sparkling pool. Bring your toys because there is a large parking slab to store your boat, atvs or RV behind the fully fenced yard. Some local outdoor amenities in Apopka include Northwest Recreational Complex, fishing on Lake Apopka, canoe, camp or hike on the nature trails at scenic Wekiwa Springs State Park, or cycle along 22 paved miles of the West Orange Trail. Apopka is an ideal place explore the best of nature and only minutes from Orlando. There are a various options for dining, shopping and entertaining conveniently located nearby. Schedule your showing today to make this house your home!

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 Forest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $110k478k

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

Neighborhood: Lake McCoy Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9302089

* 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
Clay Springs Elementary School Primary Regular 745 50 5
Apopka Middle School Middle Regular 1,104 60 3
Apopka High School High Magnet 3,158 144 5

Clay Springs Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 50
5
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
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,320
Property Tax -$409
Property Insurance -$169
HOA -$21
Property Management Fees -$129
CASH FLOW
-$267

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.

$379,900

PROJECTED PRICE

$1,780

PROJECTED RENT

0.47%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,804

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7803$1,8504$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 734 May Day Drive Apopka, FL 2
    • 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.80
    •  
  • 1548 Silver Fox Cir Apopka, FL 1
    • 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 1985
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.90
    •  
  • 121 W Grossenbacher Dr Apopka, FL 3
    • 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
    •  
  • 903 Laurel Leaf Ct Apopka, FL 4
    • 3 beds 2 baths ∙ 2,395 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,395 Sqft ∙ Built 1991
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 1209 Reagans Reserve Blvd Apopka, FL 5
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2001
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
PROPERTY LISTING DETAILS
Leslie Rotarius Pa
1.352.267.7254
Catherine Hanson Real Estate,
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: G5038678
Last Updated: 02/14/2021
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