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801 Overlook Dr Apopka, FL 32703

3 Beds 2 Baths 2,396 sqft Built 1972

$434,900

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1972
  • Price/Sqft : $181.51
  • 21 Days on Market
  • MLS # : O5898706
  • Updated Date : 11/02/2020 at 08:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,396 sqft
  • Baths : 2 full
Listing Agent

Watson Realty Corp

Listing Agent's Description

OWNER MOTIVATED. Price reduced. Your new lakefront home awaits you. Don't miss seeing this jewel. Be sure to take a look at the virtual tour and video then give ma a call for your private tour. You won't be disappointed. Beautifully remodeled throughout .... this could be the dream kitchen you have always wanted. Open .. bright .. and just wait until you see the master shower. All of this located private yet very convenient to I-4 and Maitland Center.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Mirror Lake Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $93k283k

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

Neighborhood: Mirror Lake Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8221707

* 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
Bear Lake Elementary School Primary Regular 1,040 72 6
Teague Middle School Middle Regular 1,332 78 6
Lake Brantley High School High Regular 2,727 142 6

Bear Lake Elementary School

  • Education Level: Primary
  • # of students: 1,040
  • # of teachers: 72
6
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
 

$391,410$478,390$434,900

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,605
Property Tax -$420
Property Insurance -$179
Property Management Fees -$183
CASH FLOW
-$357

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.

$434,900

PROJECTED PRICE

$2,030

PROJECTED RENT

0.47%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,999

INVESTMENT

$120,999

Down Payment
$108,725
Rehab Estimate
$5,750
Closing Costs
$6,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,725
Loan Amount $326,175
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,258

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,085

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7693$1,9494$2,0305$2,295
$2,295
RENT COMPS ANALYSIS
  • 801 Overlook Dr Apopka, FL 4
    • 3 beds 2 baths ∙ 2,396 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,396 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.85
    •  
  • 1104 E Lakeview Cir Altamonte Springs, FL 1
    • 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 1955 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 1955
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 1008 Terry Dr Altamonte Springs, FL 2
    • 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 1978
    property image
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,769
    • $0.82
    •  
  • 2630 Sand Lake Rd Longwood, FL 3
    • 4 beds 2 baths ∙ 2,079 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,079 Sqft ∙ Built 1984
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $0.94
    •  
  • 294 Bentley Dr Longwood, FL 5
    • 4 beds 2 baths ∙ 2,489 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,489 Sqft ∙ Built 1978
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jo Ann Larsen
1.407.463.4734
Watson Realty Corp
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5898706
Last Updated: 11/02/2020
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