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6116 Merriewood Dr 
Orlando, FL
32808
3 Beds 2 Baths 1,222 sqft
Built 1966
INVESTimate
$184,900
List Price
$54,749
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PROPERTY INFO
FACTS
- Built In 1966
- Price/Sqft : $151.31
- 3 Days on Market
- MLS # : O5886322
- Updated Date : 08/25/2020 at 04:36
CONSTRUCTION
- Beds : 3
- Floor Size : 1,222 sqft
- Baths : 2 full
Listing Agent
Razzani International Realty
Listing Agent's Description
Welcome Home! Here we have this nice three bedroom two bath home that sits on a corner lot. Fully fenced as well. This house also has a nice size yard and front patio. All shopping centers are about 5 mins away, also about 20-25 mins away from downtown Orlando and theme parks. This house won't last long on the market schedule your showing today.
SEE MORE
- 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: Robinswood Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Robinswood Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,220 |
| EXPENSES | Loan Payment | -$682 |
| Property Tax | -$210 | |
| Property Insurance | -$109 | |
| Property Management Fees | -$110 | |
|
CASH FLOW
$109
|
||
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.
$184,900
PROJECTED PRICE
$1,220
PROJECTED RENT
0.66%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.01% |
| Appreciation Year (1-5) | 10.94% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.82% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$54,749
LOAN DETAILS
$682
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $46,225 |
| Loan Amount | $138,675 |
6.67
YEARS SAVED
$17,942
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,220
LIST RENT -
$1
LIST RENT PER SQFT
-
$912
COMP ESTIMATED VALUE -
$0.75
COMP AVG. RENT PER SQFT
Comps Range
-
6116 Merriewood Dr Orlando, 4
- 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1966
- Rent
- Rent Per SQFT
- $1,220
- $1.00
-
2217 Owasso Ct Orlando, 1
- 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1960
LEASED 02/12/20- Rent
- Rent Per SQFT
- $875
- $0.70
-
6219 N Hudson St Orlando, 2
- 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1958
LEASED 02/12/20- Rent
- Rent Per SQFT
- $950
- $0.73
-
1234 Saint James Rd Orlando, 3
- 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1953
LEASED 04/09/20- Rent
- Rent Per SQFT
- $1,000
- $0.81
PROPERTY LISTING DETAILS
1.407.490.9715
Razzani International Realty
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5886322
Last Updated: 08/25/2020
