Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

860 Crepe Myrtle Cir Apopka, FL 32712

3 Beds 2 Baths 2,011 sqft Built 1992

$299,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $149.13
  • 3 Days on Market
  • MLS # : O5908407
  • Updated Date : 11/28/2020 at 09:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,011 sqft
  • Baths : 2 full
Listing Agent

Old Southern Realty Inc

Listing Agent's Description

Largest floor plan on corner lot with mature trees in this quiet single family home subdivision called The Courtyards located in the beautiful country club community of Errol Estate. Home has been remodeled top to bottom by a professional Interior Decorator. Pull into the driveway with custom brick paver driveway and walkways and into your spacious customized 2-car garage. Enter by being greeted with 16 foot ceilings with windows above windows covered in custom wood shutters and custom wood blinds throughout. House has pecan hardwood floors in family room, dining room, hallways and in the 3 bedrooms. Tile floors in kitchen and the two baths, and on the large back screened-in patio (no carpet!). All rooms have 6-panel doors. 16 foot high ceilings in dining and family room with fireplace. Master bedroom has 6-panel double doors leading to 14 foot high ceilings. In the master is a sitting area with glass sliding doors leading to the outdoor large screened patio with privacy blinds. His and her closets lead to the 5 piece master bath retreat with 14' high ceilings, roman tub, over sized shower, linen closet, double vanities, designer lighting, custom mirrors, vessel sinks and faucets, and granite counter top with makeup seating area. Second full bath also has updated lighting, designer mirror, vessel sink and faucet, along with quartz counter top and inside linen closet. Kitchen has all stainless steel appliances, kitchen island and quartz counter tops with separate kitchen nook area and separate dining room. Third bedroom has double doors and is located in the front entrance of the home, which would be perfect as a home office. New refrigerator 2018. New HVAC 2020 with 10 year warranty. New garage door opener with code. Termite bonded. Alarm system. All lawn care, cable TV and high speed Internet is taken care of in low $150/month HOA Fee - maintenance-free living. Designer, high end touches and finishes throughout! A must see.

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: Errol Estates Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $110k331k

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

Neighborhood: Errol Estates Country Club

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
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

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,107
Property Tax -$323
Property Insurance -$156
HOA -$150
Property Management Fees -$154
CASH FLOW
-$180

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

$1,710

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 7.7%
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

PROJECTED ANNUAL CASH FLOW

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

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 65% 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

1.5

YEARS SAVED

$3,298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,750

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6253$1,7104$1,7415$1,795
$1,795
RENT COMPS ANALYSIS
  • 860 Crepe Myrtle Cir Apopka, FL 3
    • 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.85
    •  
  • 744 Maya Susan Loop Apopka, FL 1
    • 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 2005
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 1221 Welch Ridge Ter Apopka, FL 2
    • 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 2003
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.87
    •  
  • 1187 Welch Hill Cir Apopka, FL 4
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2001
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,741
    • $0.94
    •  
  • 1015 Astor Ct Apopka, FL 5
    • 4 beds 3 baths ∙ 2,149 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,149 Sqft ∙ Built 2000
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
PROPERTY LISTING DETAILS
Todd Hudson
1.407.721.3257
Old Southern Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5908407
Last Updated: 11/28/2020
BESbswy