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966 Seburn Rd Apopka, FL 32703

4 Beds 3 Baths 2,565 sqft Built 2009

INVESTimate

$319,900

List Price

$1,930

$1,737 - $2,123

Rent Est.

$334,327  ( +4.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $124.72
  • 6 Days on Market
  • MLS # : O5886873
  • Updated Date : 08/24/2020 at 14:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,565 sqft
  • Baths : 3 full
Listing Agent

Property Logic Re

Listing Agent's Description

Centrally located two story 4/3 2565 sqft home situated in the Emerson Park neighborhood. First floor highlights include separate dining/living room areas, large kitchen with center island, wood cabinets, granite countertops, and breakfast bar. Just off the kitchen is a dinette and family room followed by a big laundry room, full bathroom with corian vanity and glass shower enclosure along with one bedroom at the end of the hallway. Upstairs, is two nice sized bedrooms accompanied by a full bathroom with shower tub combo and large master suite. The master features his and her vanities, separate shower and garden tub and walk-in closet. Outside, you have screened in back patio and rear two car garage. Home is super accessible as it's within one mile of the 429 and the carefree traffic-less 414 entrance/exit

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Emerson Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k339k

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

Neighborhood: Emerson Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9302025

* 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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,180
Property Tax -$345
Property Insurance -$189
HOA -$103
Property Management Fees -$174
CASH FLOW
-$61

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.

$319,900

PROJECTED PRICE

$1,930

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 4.51%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,437

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,014

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9303$2,1004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 966 Seburn Rd Apopka, 2
    • 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.75
    •  
  • 1852 Rafton Rd Apopka, 1
    • 4 beds 4 baths ∙ 2,584 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,584 Sqft ∙ Built 2014
    LEASED 04/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 3598 Pelock Dr Apopka, 3
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2017
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 3552 Macauley Ct Ocoee, 4
    • 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2006
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 932 Grand Hilltop Dr Apopka, 5
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2018
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
PROPERTY LISTING DETAILS
Mark D'italia
1.321.303.8219
Property Logic Re
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5886873
Last Updated: 08/24/2020
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