4321 Spartan Dr · Orlando, FL 32822

$295,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 16 Days on market

Built 2002 6,555 sqft lot Est $298k · at est.

---

Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.7/30.0
• ARV discount +8.0/15.0
• Livability +4.3/5.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Completely Remodeled & Move-In Ready! Welcome to this beautifully renovated mobile home offering modern finishes and exceptional value. This spacious home features 3 bedrooms plus a versatile bonus room that can easily be converted into a 4th bedroom, making it perfect for growing families, guests, or a home office. Enjoy peace of mind in a fully remodeled home with a brand new roof, new low-e windows, new a/c system, new tankless water heater, modern kitchen with new stainless steel appliances and updated bathrooms with new cabinets and countertops. Fresh paint on the interior and exterior, new luxury plank flooring and baseboards throughout the home. The designer kitchen showcases

Key facts

• New a c system
• Brand new roof
• Remodeled kitchen

Tags

• REMODELED MOBILE HOME
• BRAND NEW ROOF
• NEW A C SYSTEM
• NEW WATER HEATER
• REMODELED KITCHEN
• UPDATED BATHROOMS

Property features AI

Finance

• Other: Third-party listing; Unfurnished
• Financial info: No lease restrictions
• HOA & community: No HOA association; Street lights in community

Exterior

• Parking: Driveway; 1-space carport
• Utilities: Electricity connected; Water connected; Public water listed as None; Sewer connected to private sewer; Underground utilities
• Home design: Manufactured double-wide home; Residential property; One level; Home faces north; Homestead-exempt
• Construction: Vinyl siding; Shingle roof; Slab foundation; Built on a 0.15-acre lot
• Exterior features: Sidewalk; Private lot; Asphalt road access; Wood fencing

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Split bedroom layout; Thermostat; Blinds
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $295k.

Deal economics

• At list price, monthly cash flow is $21 ($256/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (24.4% below list).
• Recommended offer: $223k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.0% in Orlando — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 86/100 on livability (#12 in FL, #360 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Three Points Elementary (math 33% / reading 27%, grade F, #1,882 of 2,144 statewide, top 88%, 455 students, 80% FRL); Liberty Middle (math 34% / reading 40%, grade F, #399 of 571 statewide, top 71%, 915 students, 66% FRL); Colonial High (math 16% / reading 33%, grade F, #505 of 667 statewide, top 79%, 3,442 students, 62% FRL).
• Zoned-school proficiency averages 30% at this address vs 48% district-wide (-18 pts) — the specific schools serving this property underperform the Orange average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.7%/yr); 379 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• At $2,230/mo this rent would consume 47% of the median local household income ($57k/yr) (locally 4246% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $107k; list at $295k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,998 (24.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.31%
• DSCR: 1.01
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $298,080
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4500 Spartan Dr	0.09mi	3/2.0	1,280 (-1%)	14mo	$294,900	$230	82

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.36×
• Total profit: $-53,130
• Equity at exit: $43,985

10-year hold

• IRR: -17.6%
• Equity multiple: 0.15×
• Total profit: $-70,380
• Equity at exit: $25,506

Cash invested: $82,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32822

• Home prices YoY: -21.1%
• Rents YoY: -0.7%
• Active inventory: 379
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,230 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$70 /mo · $845/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $21

Break-even live

Break-even rent $2,203

Max offer price $295,000

Occupancy floor 94%

Sensitivity live

Price	-10% $188	-5% $105	+0% $21	+5% $-62	+10% $-146
Rent	-10% $-155	-5% $-67	+0% $21	+5% $109	+10% $197
Rate	-1.0pp $170	-0.5pp $96	base $21	+0.5pp $-55	+1.0pp $-133

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4233 Anthony Ln Orlando, FL	3.0	1.0	1210	$1,925	$1.59	15d	1	0.22mi
8225 Fort Thomas Way Orlando, FL	2.0	2.0	1346	$3,200	$2.38	25d	1	0.30mi
4117 Berkshire Bay Ct Orlando, FL	3.0	2.0	1075	$2,001	$1.86	0d	1	0.45mi
8467 Fort Thomas Way Orlando, FL	3.0	2.0	1646	$2,300	$1.40	6d	1	0.51mi
8562 Fort Thomas Way Orlando, FL	3.0	2.0	1408	$2,540	$1.80	5d	1	0.59mi
6898 Tussilago Way Orlando, FL	3.0	2.5	1648	$2,250	$1.37	25d	1	0.60mi
8581 Fort Thomas Way Orlando, FL	4.0	2.5	1659	$2,450	$1.48	25d	1	0.61mi
9176 Fort Jefferson Blvd Orlando, FL	3.0	2.0	1288	$2,349	$1.82	23d	1	0.63mi
6791 Tussilago Way Orlando, FL	3.0	2.5	1648	$2,295	$1.39	25d	1	0.65mi
6791 Tussilago Way Orlando, FL	3.0	2.5	1648	$2,295	$1.39	0d	1	0.65mi
6960 Gibraltar Rd Orlando, FL	3.0	2.0	1383	$1,500	$1.08	25d	1	0.89mi
3007 Horse Shoe Ct Orlando, FL	2.0	2.0	1021	$1,499	$1.47	15d	1	0.95mi
5812 Stafford Springs Trl Orlando, FL	3.0	2.0	1457	$2,540	$1.74	9d	1	0.97mi
5812 Stafford Springs Trl Orlando, FL	3.0	2.0	1457	$2,540	$1.74	18d	1	0.97mi
7528 Marbella Pointe Dr Orlando, FL	1.0–4.0	1.0–3.0	1141	$1,884	$1.65	0d	23	0.97mi
3049 Jon Jon Ct Orlando, FL	3.0	2.0	1050	$1,995	$1.90	25d	1	0.99mi
7855 Harbor Bend Cir Orlando, FL	3.0	2.0	1273	$2,580	$2.03	12d	1	1.01mi
3228 Curry Woods Cir #2 Orlando, FL	3.0	2.0	1447	$2,206	$1.52	0d	1	1.04mi
7632 Harbor Lake Dr Orlando, FL	3.0	2.0	1292	$2,100	$1.63	12d	1	1.06mi
2813 Whippet Ct Orlando, FL	3.0	2.0	1368	$2,349	$1.72	4d	1	1.06mi
6400 Narcoossee Rd Orlando, FL	1.0–3.0	1.0–2.0	977	$2,185	$2.24	0d	14	1.15mi
7931 Thrippence Ln Orlando, FL	3.0	2.0	1225	$2,000	$1.63	25d	1	1.17mi
7416 Lago De Oro Unit 2-A-3 Orlando, FL	3.0	2.0	1000	$1,950	$1.95	25d	1	1.26mi
7870 Pine Fork Dr Orlando, FL	3.0	2.0	1119	$2,193	$1.96	0d	1	1.26mi
7416 Lago De Oro Unit A-6 Orlando, FL	3.0	2.0	1000	$1,695	$1.70	16d	1	1.26mi
7305 Marseille Cir Orlando, FL	3.0	2.0	1138	$2,199	$1.93	16d	1	1.31mi
3003 Pigeon Hawk Ct Orlando, FL	3.0	2.5	1555	$2,650	$1.70	23d	1	1.39mi
3950 Southpointe Dr #418 Orlando, FL	3.0	2.0	1226	$1,985	$1.62	18d	1	1.39mi
2760 Ranch House Rd Orlando, FL	2.0	2.5	1356	$1,899	$1.40	16d	1	1.41mi
3960 Southpointe Dr #533 Orlando, FL	2.0	2.0	1045	$1,800	$1.72	9d	1	1.45mi

Listing history 11 events

1. 2026-06-21
   days on market $295,000 Active 16 DOM
2. 2026-06-18
   days on market $295,000 Active 13 DOM
3. 2026-06-17
   days on market $295,000 Active 12 DOM
4. 2026-06-16
   days on market $295,000 Active 11 DOM
5. 2026-06-15
   days on market $295,000 Active 10 DOM
6. 2026-06-13
   days on market $295,000 Active 8 DOM
7. 2026-06-13
   days on market $295,000 Active 7 DOM
8. 2026-06-09
   days on market $295,000 Active 4 DOM
9. 2026-06-08
   days on market $295,000 Active 3 DOM
10. 2026-06-07
    remarks 695-char remark
11. 2026-06-07
    listed $295,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $845 · $70/mo
• Projected year-2 tax: $2,448 · $204/mo
• Expected delta: +$1,603/yr (+$134/mo · 189.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,760
• − Mortgage interest: −$16,525
• − Property taxes: −$845
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,141
• − Management: −$2,141
• − Depreciation: −$8,582
• Taxable loss: −$4,948
• Est. tax savings @ 24.0%: +$1,188
• After-tax cash flow: $1,443/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Orange
• NCES district ID: 1201440
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $49,350
• Composite: 41.47/100
• National rank: #3461
• State rank: #43 of 73 in FL

Livability — Orlando

• Score: 86/100
• State rank: #12
• US rank: #360

Category grades

Amenities A+ Commute A+ Cost of living B- Crime B+ Employment C+ Housing A+ Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Orange County · 1,471,359 people
• City population: 964,969
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 67,081
• Household income: $56,540
• Rent vs Own: 58.0% rent · 42.0% own
• Severe rent burden: 4246.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 1,618,226 people
• By 2030: 1,787,404 · +10.5%
• By 2040: 2,125,621 · +31.4%
• By 2050: 2,454,016 · +51.6%
• By 2075: 3,173,711 · +96.1%
• By 2100: 3,607,781 · +122.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 36% White 17% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 38% Cuban 5% Dominican 5%
• Common ancestry: Lithuanian 1% Romanian 1% Slovak 1%
• Foreign-born: 27% · Canada, Jamaica, China
• Languages at home: 36% English-only · Spanish 60% French/Haitian/Cajun 1% Arabic 1%

Political lean MEDSL · Orange

• 2024 margin: D (+13.6) · D 56.1% · R 42.5% · Other 1.3%
• 2008→2024 swing: -5.0pp toward R · 2008: 18.6pp · 2024: 13.6pp
• All cycles: 2024: D+13.6 2020: D+23.1 2016: D+24.6 2012: D+18.2 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.17%
• Current HPI: 355.5775
• Rent YoY: ▼ -0.68%
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+3177.8% since first listed

3 events — show timeline

• 2026-06-05 Listed $295,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-02 Sold (Public Records) $107,000 Public Records
• 1979-05-01 Sold (Public Records) $9,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $845 · +16.9% YoY. Source: county tax records.