Is this home a good value?

[Kaleb Adam Barlow]

Hi Everyone!

I am a new investor trying to get my feet wet in real estate and I am trying to learn how to analyze rental properties. I found this home on Zillow listed at $93,000 in Orlando, Florida that I wanted to potentially rent out to tenants. It's a single-family home located right on a lake with 3 bedrooms, 2 bathrooms, and is 1,850 square feet. It is already in pretty good shape and I have calculated the financials and the cash flow it could potentially bring me. Zillow is giving its "Zestimate" at an average of around $209k for similar properties with the same specs. I am just wondering if I stumbled upon a great deal or if this isn't as accurate as I think it is? Any feedback would be much appreciated! I will link the property at the bottom of this post if any of the more experienced investors want to check it out for me.

Happy hunting!

Kaleb

https://www.zillow.com/homedetails/5458-Jean-Dr-Orlando-FL-32822/2081557803_zpid/

[Tyler Gibson]

@Kaleb Adam Barlow Some call outs... this is in a 55+ community which means your rental pool is immediately smaller. Also there may be a lot fee which means you don't own the ground. Good part of Orlando though. Manufactured homes do not keep their value like stick or block built. You should also never use zillow estimates it is not a true comparison tool.