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1209 Russell Dr Ocoee, FL 34761

3 Beds 2 Baths 1,200 sqft Built 1979

$219,999

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $183.33
  • 4 Days on Market
  • MLS # : G5039123
  • Updated Date : 02/27/2021 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 1 full , 1 half
Listing Agent

Monique Mcguire Realty Inc

Listing Agent's Description

Charming Home with only 1 owner! New Roof in 2020, AC was put in in 2016. Home was just freshly painted outside. Fenced oversized yard with a shed that stays for storage. Close to shopping and Downtown Winer Garden. Come check out this 3 bedroom 1 and a half bathroom home. Perfect for an investment or a new home buyer! Tile in all the bedrooms, very large family room and nice covered back porch that is screened.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Twin Lakes Manor

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280kPrice in $59k280k

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

Neighborhood: Twin Lakes Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7701877

* 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
Spring Lake Elementary School Primary Regular 617 42 4
Ocoee Middle School Middle Regular 1,375 73 3
Ocoee High School High Regular 2,243 106 4

Spring Lake Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 42
4
GreatSchools Rating

Ocoee Middle School

  • Education Level: Middle
  • # of students: 1,375
  • # of teachers: 73
3
GreatSchools Rating

Ocoee High School

  • Education Level: High
  • # of students: 2,243
  • # of teachers: 106
4
GreatSchools Rating
 

$197,999$241,999$219,999

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$764
Property Tax -$278
Property Insurance -$108
Property Management Fees -$129
CASH FLOW
-$189

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.

$219,999

PROJECTED PRICE

$1,090

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.7%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $164,999
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $975

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$825
1$8252$8503$1,0904$1,1005$1,100
$1,100
RENT COMPS ANALYSIS
  • 1209 Russell Dr Ocoee, FL 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.91
    •  
  • 1208 Willow Creek Rd Ocoee, FL 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1979
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $825
    • $0.69
    •  
  • 1101 Kimball Dr Ocoee, FL 2
    • 3 beds 2 baths ∙ 1,111 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,111 Sqft ∙ Built 1959
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.77
    •  
  • 1203 Oakwood Ln Ocoee, FL 4
    • 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1976
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.91
    •  
  • 1417 Prairie Lake Blvd Ocoee, FL 5
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Monique Mcguire
1.352.348.5191
Monique Mcguire Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: G5039123
Last Updated: 02/27/2021
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