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1701 Melanie Dr Orlando, FL 32825

4 Beds 3 Baths 2,243 sqft Built 2005

$334,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $149.31
  • 6 Days on Market
  • MLS # : O5904785
  • Updated Date : 11/12/2020 at 09:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,243 sqft
  • Baths : 3 full
Listing Agent

Creegan Property Group

Listing Agent's Description

Prepare to be impressed with this spacious single-story 4-bedroom, 3-bath, fully updated, pool home which offers 2,243 square feet of space to laugh, love, and work from home in luxury! Highlights of this beautiful home include a NEW roof, NEW AC, NEW commercial grade water-resistant luxury vinyl floors throughout all entertaining spaces, open kitchen overlooking the large family room, resort-style saltwater pool/spa combo, travertine deck with full-screen enclosure, hurricane rated vinyl fence, and low maintenance backyard. The kitchen features NEW wood cabinets and NEW granite, a stone backsplash, crown molding, a large pantry, stainless steel appliances, and a perfectly placed breakfast bar. The owner’s suite offers walk-in closets, a tiled stand-up shower with bench combo, granite countertops, and custom cabinets. Two additional large bedrooms share a full bath with stone countertops, dual sinks, and a shower/tub combo. The bonus room is located at the front of the home and features its own fully renovated bathroom and laundry room. This versatile space can make for the perfect second owner’s suite, playroom, movie room, or anything else you can dream of! Neutral paint and floors throughout, plenty of natural light, and inside utility make this house a home. This well-loved home is located minutes from UCF, Valencia College, Waterford Lakes shopping center, 408/417, the attractions, and all Orlando has to offer. Call today for your private showing.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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.

PRICE & RENT TRENDS

Neighborhood: Cheney Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $55k253k

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

Neighborhood: Cheney Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6811712

* 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
 

$301,410$368,390$334,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,236
Property Tax -$381
Property Insurance -$170
Property Management Fees -$152
CASH FLOW
-$249

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.

$334,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.01%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.82%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,759

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,750

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,335
1$1,3352$1,6903$1,8974$1,9505$2,050
$2,050
RENT COMPS ANALYSIS
  • 1701 Melanie Dr Orlando, FL 2
    • 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.75
    •  
  • 2933 Lakewood Pointe Dr Orlando, FL 1
    • 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2006
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $0.70
    •  
  • 8606 Villa Nova St #1 Orlando, FL 3
    • 3 beds 2 baths ∙ 2,368 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,368 Sqft ∙ Built 1988
    property image
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,897
    • $0.80
    •  
  • 3007 Lakewood Pointe Dr Orlando, FL 4
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2006
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
  • 7613 Bear Claw Run Orlando, FL 5
    • 4 beds 4 baths ∙ 2,518 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,518 Sqft ∙ Built 2006
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.81
    •  
PROPERTY LISTING DETAILS
Chris Creegan
1.407.509.2159
Creegan Property Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904785
Last Updated: 11/12/2020
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