A $380,000 Apopka rental at $2,300 a month, bought with 25% down at 7.5%, loses about $896 a month at these assumptions. Net operating income is about $13,156 a year, a 3.46% cap rate, against $23,913 of mortgage payments, so debt coverage is 0.55. At these numbers the property needs a lower price, a larger down payment or higher rent to break even.
How to read the results
Net operating income (NOI) is rent minus vacancy and operating costs, before the mortgage. In the example: $27,600 of rent, less $1,656 vacancy, $6,083 property tax, $2,565 insurance, $2,760 management and $1,380 maintenance.
Cap rate is NOI divided by price. It ignores financing, so it lets you compare properties.
Debt coverage (DSCR) is NOI divided by the year's principal and interest. The gauge reads it: lenders generally like 1.20 to 1.25 or better, and below 1.00 the rent does not cover the loan.
Cash-on-cash return is yearly cash flow divided by the cash you put in, which the tool takes as the down payment plus 3.5% of the price for closing costs.
Florida costs investors underestimate
Property tax with no homestead. A rental pays the full 16.0079 mills inside Apopka for 2026, about 1.6% of value. The purchase resets the assessment to market value, so do not use the seller's bill. After that, yearly increases in assessed value for non-school taxes are capped at 10% through 2026 and, under Amendment 3 as approved on November 3, 2026, 5% from 2027. Implementing law is still pending.
Insurance. The default of $2,565 is Orange County's average homeowners premium without wind coverage, as reported from the state regulator's July 1, 2026 report, and is used only as a placeholder. Landlord policies differ, and the average with wind is $3,610.
Management. Long-term managers typically charge 8% to 12% of rent, plus half to a full month's rent for a new lease.
Rent. November 2026 listing data put a three-bedroom in Apopka at about $2,150 to $2,380 a month, and Zillow's Apopka index was lower than a year earlier.
Short-term rentals: check zoning first
Inside Apopka city limits. According to a secondary guide (updated August 24, 2026) that cites the city's Land Development Code, Apopka has no vacation-rental registry and treats stays under 30 days as visitor accommodation, a use allowed in commercial and mixed-use districts and not in ordinary residential ones. We have not read the code itself. Confirm with the City of Apopka in writing before you buy with nightly rental in mind.
Unincorporated Orange County. According to the same guide, which cites the county Zoning Division, short-term rental is allowed only in certain commercial and industrial districts or a Planned Development that expressly permits it, and single-family rental under 30 days only in R-3. It requires a state vacation-rental license, a county business tax receipt and a tourist tax account, with fines up to $1,000 a day. Treat nightly rental as not permitted unless the parcel's zoning or Planned Development document says otherwise, and check the HOA's own lease rules.
Stays of six months or less also carry 12.5% in taxes collected from the guest: 6% state sales tax, a 0.5% county surtax and 6% tourist development tax. This calculator models long-term rentals only.
See what is for sale on the listings page, compare owning the same house yourself with rent or buy, check closing costs and property tax, or read the guides and neighborhood pages.
Where the numbers come from
| Input | Value | Source |
|---|---|---|
| City of Apopka millage, 2026 | 16.0079 mills, no homestead | Orange County Property Appraiser |
| Non-homestead assessment cap | 10% through 2026; 5% from 2027 (pending implementing law) | Ballotpedia, Amendment 3 |
| Average insurance, Orange County | $2,565 without wind; $3,610 with wind (report of July 1, 2026) | Florida Office of Insurance Regulation, as quoted by LiveCovered |
| Property management fees | 8% to 12% of rent; 50% to 100% of a month for leasing (2026) | All Property Management |
| Apopka three-bedroom rent | $2,150 to $2,380 a month (November 2026 listings) | Zillow, Zumper |
| Apopka short-term rental rule | Secondary source; code not read directly | BNBCalc guide; Apopka code |
| Orange County short-term rental rule | Limited districts; license, receipt and tax account | Orange County Zoning Division; BNBCalc guide |
| Tax on stays of six months or less | 12.5% (6% + 0.5% + 6%) | BNBCalc guide citing Florida DOR forms |
Questions people ask
What is a good cap rate for a rental in the Orlando area?
We found no Apopka-specific figure. One April 2026 article on Orlando-area neighborhoods, none of them in Apopka, put typical net cap rates at 2.5% to 5%; treat that as a low-confidence guide. The example on this page works out to 3.46%. Run each property on its own numbers.
Can I run an Airbnb in Apopka?
Probably not in an ordinary residential neighborhood. A secondary guide citing Apopka's Land Development Code says stays under 30 days are treated as visitor accommodation, allowed in commercial and mixed-use districts. We have not read the code directly, so get written zoning confirmation from the city, and check the HOA's lease rules, before you buy.
How much is property tax on a rental home in Apopka?
About 1.6% of value a year. At the 2026 rate of 16.0079 mills with no homestead exemption, a $380,000 rental owes about $6,083. After the purchase year, increases in assessed value for non-school taxes are capped, at 10% through 2026.
What debt coverage ratio do lenders want on a rental?
As a rule of thumb, 1.20 to 1.25 or better, meaning net operating income is 20% to 25% above the yearly mortgage payments. Requirements vary by lender and loan type. The example here is 0.55, so it would need more cash down or more rent to qualify on its own income.
Looking for a rental that works on paper? Tell Robert your numbers or call 352-504-6371.
