367 Cornerstone Dr · Mascotte, FL 34736

$405,000

5 bd · 3.5 ba · 2,516 sqft · Land · 66 Days on market

Built 2026 6,000 sqft lot $117/mo HOA · 4% of rent

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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 +10.1/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• DSCR +2.9/10.0
• Rent growth +2.9/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Sherwood at 367 Cornerstone Drive in Waterstone! This thoughtfully designed new home brings the dining area, great room, and kitchen together with a center island that makes everyday living and entertaining feel easy. Just off the kitchen, a secondary bedroom with an en-suite bath offers comfort and privacy for guests or everyday use. A powder room and laundry room are conveniently located near the two-car garage entry to keep life organized. Upstairs, you will find three secondary bedrooms that share a full bath, along with a spacious loft that gives you flexible living space. The primary suite completes the home with an en-suite bath and a large walk-in closet designed for comfort and relaxation. Spanning 400+ acres, Waterstone blends seamlessly into Groveland's natural landscape just minutes from Clermont. Surrounded by Lake County's rolling hills and nearby lakes, the community offers easy access to the Western Beltway, Florida's Turnpike, and SR-50. Enjoy planned amenities including a pool, cabana, dog park, Nature Play Space, and Monarch Butterfly Gardens. Additional Highlights Include: GE refrigerator, washer and dryer, and whole house blinds. Virtually staged photos are for representative purposes only. MLS#O6400022

Key facts

• New construction
• Deep backyard
• 6,000 sq ft lot

Tags

• 1ST FLOOR GUEST BEDROOM
• DEEP BACKYARD
• NEW CONSTRUCTION
• FLEXIBLE LIVING SPACE

Property features AI

Finance

• Other: Home warranty included; Living area reported by builder: 2,516 (builder source); Total building area reported: 3,106 (builder source)
• Financial info: Other annual assessment approximately $1,719; Lease restrictions apply
• HOA & community: HOA managed by Castle Management – Madison Clark; Monthly HOA $117 (includes Internet and other services); Association approval required; Association amenities: Playground, Pool; Pets allowed with breed restrictions

Exterior

• Parking: Attached 2-car garage with garage door opener
• Utilities: Public water; Public sewer; Cable connected; Natural gas connected; Underground utilities
• Home design: Single family residence; New construction (projected completion May 31, 2026); Two levels; Faces southwest; Under construction
• Construction: Block construction; Shingle roof; Slab foundation; Builder: Taylor Morrison; Model: Sherwood; Builder license number 1261486; Projected completion date May 31, 2026
• Exterior features: Paved road access; Irrigation equipment; Community mailbox; Dog park; Playground; Pool; Sidewalks; Irrigation - reclaimed water

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 5 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Open floorplan; Window treatments; Tankless water heater
• Laundry & utility: Washer hookup; Dryer hookup (electric); Inside laundry room on upper level; Inside utility; Loft (additional room)

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath land listed at $405k.

Deal economics

• At list price, monthly cash flow is $-239 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $363k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $302k (25.3% below list).
• Recommended offer: $302k (25.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#405 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Lake (suburban): math 49% / reading 50% proficiency, ranked #37 of 73 in FL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Groveland Elementary School (math 30% / reading 32%, grade F, #1,854 of 2,144 statewide, top 87%, 744 students, 63% FRL); Gray Middle School (math 45% / reading 45%, grade D, #310 of 571 statewide, top 56%, 1,148 students, 47% FRL); South Lake High School (math 36% / reading 39%, grade F, #336 of 667 statewide, top 51%, 2,169 students, 40% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising (+1.7%/yr); 593 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 40% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($381k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $302,397 (25.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 5.59%
• Cash-on-cash: -2.52%
• DSCR: 0.89
• GRM: 11.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.67% rent growth · sell at horizon

5-year hold

• IRR: -21.9%
• Equity multiple: 0.25×
• Total profit: $-84,873
• Equity at exit: $60,387

10-year hold

• IRR: -19.1%
• Equity multiple: 0.03×
• Total profit: $-109,665
• Equity at exit: $35,017

Cash invested: $113,400 (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 34736

• Home prices YoY: -22.5%
• Rents YoY: 1.7%
• Active inventory: 593
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $3,024 medium
• Mortgage (P&I): −$2,124
• Tax from tax record: −$218 /mo · $2,614/yr
• Insurance: −$169
• HOA: −$117
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $-239

Break-even live

Break-even rent $3,326

Max offer price $362,865

Occupancy floor —

Sensitivity live

Price	-10% $-9	-5% $-124	+0% $-239	+5% $-353	+10% $-468
Rent	-10% $-477	-5% $-358	+0% $-239	+5% $-119	+10% $0
Rate	-1.0pp $-35	-0.5pp $-136	base $-239	+0.5pp $-343	+1.0pp $-450

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: $101,250
• Closing costs: $12,150
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7436 Capstone Dr Groveland, FL	4.0	2.5	2731	$2,800	$1.03	25d	1	0.13mi
338 Ridgemark Ave Groveland, FL	4.0	2.0	1824	$2,300	$1.26	6d	1	0.38mi
187 Hydra Way Groveland, FL	4.0	3.0	2542	$2,699	$1.06	25d	1	0.62mi

HOA detail

• Monthly dues: $117 · $1,404/yr
• Likely covers: waterpool

Listing history 19 events

1. 2026-06-21
   days on market $405,000 Active 66 DOM
2. 2026-06-18
   days on market $405,000 Active 63 DOM
3. 2026-06-17
   days on market $405,000 Active 62 DOM
4. 2026-06-16
   days on market $405,000 Active 61 DOM
5. 2026-06-15
   days on market $405,000 Active 60 DOM
6. 2026-06-13
   days on market $405,000 Active 58 DOM
7. 2026-06-09
   days on market $405,000 Active 54 DOM
8. 2026-06-08
   days on market $405,000 Active 53 DOM
9. 2026-06-07
   days on market $405,000 Active 52 DOM
10. 2026-06-04
    days on market $405,000 Active 49 DOM
11. 2026-06-03
    days on market $405,000 Active 48 DOM
12. 2026-06-02
    days on market $405,000 Active 47 DOM
13. 2026-06-01
    days on market $405,000 Active 46 DOM
14. 2026-05-31
    days on market $405,000 Active 45 DOM
15. 2026-05-13
    price $405,000 1258-char remark

    Show marketing remark (1258 chars)

    Welcome to the Sherwood at 367 Cornerstone Drive in Waterstone! This thoughtfully designed new home brings the dining area, great room, and kitchen together with a center island that makes everyday living and entertaining feel easy. Just off the kitchen, a secondary bedroom with an en-suite bath offers comfort and privacy for guests or everyday use. A powder room and laundry room are conveniently located near the two-car garage entry to keep life organized. Upstairs, you will find three secondary bedrooms that share a full bath, along with a spacious loft that gives you flexible living space. The primary suite completes the home with an en-suite bath and a large walk-in closet designed for comfort and relaxation. Spanning 400+ acres, Waterstone blends seamlessly into Groveland's natural landscape just minutes from Clermont. Surrounded by Lake County's rolling hills and nearby lakes, the community offers easy access to the Western Beltway, Florida's Turnpike, and SR-50. Enjoy planned amenities including a pool, cabana, dog park, Nature Play Space, and Monarch Butterfly Gardens. Additional Highlights Include: GE refrigerator, washer and dryer, and whole house blinds. Virtually staged photos are for representative purposes only. MLS#O6400022

16. 2026-05-12
    price $405,000
17. 2026-04-16
    listed $418,079 Active 1258-char remark

    Show marketing remark (1258 chars)

    Welcome to the Sherwood at 367 Cornerstone Drive in Waterstone! This thoughtfully designed new home brings the dining area, great room, and kitchen together with a center island that makes everyday living and entertaining feel easy. Just off the kitchen, a secondary bedroom with an en-suite bath offers comfort and privacy for guests or everyday use. A powder room and laundry room are conveniently located near the two-car garage entry to keep life organized. Upstairs, you will find three secondary bedrooms that share a full bath, along with a spacious loft that gives you flexible living space. The primary suite completes the home with an en-suite bath and a large walk-in closet designed for comfort and relaxation. Spanning 400+ acres, Waterstone blends seamlessly into Groveland's natural landscape just minutes from Clermont. Surrounded by Lake County's rolling hills and nearby lakes, the community offers easy access to the Western Beltway, Florida's Turnpike, and SR-50. Enjoy planned amenities including a pool, cabana, dog park, Nature Play Space, and Monarch Butterfly Gardens. Additional Highlights Include: GE refrigerator, washer and dryer, and whole house blinds. Virtually staged photos are for representative purposes only. MLS#O6400022

18. 2026-04-16
    listed $418,079 Active

    Show marketing remark (1258 chars)

    Welcome to the Sherwood at 367 Cornerstone Drive in Waterstone! This thoughtfully designed new home brings the dining area, great room, and kitchen together with a center island that makes everyday living and entertaining feel easy. Just off the kitchen, a secondary bedroom with an en-suite bath offers comfort and privacy for guests or everyday use. A powder room and laundry room are conveniently located near the two-car garage entry to keep life organized. Upstairs, you will find three secondary bedrooms that share a full bath, along with a spacious loft that gives you flexible living space. The primary suite completes the home with an en-suite bath and a large walk-in closet designed for comfort and relaxation. Spanning 400+ acres, Waterstone blends seamlessly into Groveland's natural landscape just minutes from Clermont. Surrounded by Lake County's rolling hills and nearby lakes, the community offers easy access to the Western Beltway, Florida's Turnpike, and SR-50. Enjoy planned amenities including a pool, cabana, dog park, Nature Play Space, and Monarch Butterfly Gardens. Additional Highlights Include: GE refrigerator, washer and dryer, and whole house blinds. Virtually staged photos are for representative purposes only. MLS#O6400022

19. 2025-04-07
    soldstatus $4,281,319

ⓘ 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: $2,614 · $218/mo
• Projected year-2 tax: $3,362 · $280/mo
• Expected delta: +$747/yr (+$62/mo · 28.6%)

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

Taxation est. · year 1

• Rental income: $36,288
• − Mortgage interest: −$22,686
• − Property taxes: −$2,614
• − Insurance: −$2,025
• − Repairs & maintenance: −$2,903
• − Management: −$2,903
• − HOA: −$1,404
• − Depreciation: −$11,782
• Taxable loss: −$10,030
• Est. tax savings @ 24.0%: +$2,407
• After-tax cash flow: $-455/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: Lake
• NCES district ID: 1201050
• Math proficiency: 49% ▼ -7.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $46,632
• Composite: 42.05/100
• National rank: #3327
• State rank: #37 of 73 in FL

Livability — Mascotte

• Score: 71/100
• State rank: #405
• US rank: #7156

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mascotte, FL
• County: Lake County · 364,602 people
• City population: 33,565
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 28,001
• Household income: $90,545
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 216.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 386,640 people
• By 2030: 417,107 · +7.9%
• By 2040: 476,676 · +23.3%
• By 2050: 531,296 · +37.4%
• By 2075: 648,303 · +67.7%
• By 2100: 698,530 · +80.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 52% Hispanic / Latino 25% Two or more races 17% Black 15% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 15% Cuban 2%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 1%
• Foreign-born: 13% · Canada, Guatemala
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Lake

• 2024 margin: Strong R (+24.7) · D 37.3% · R 62.0%
• 2008→2024 swing: -11.2pp toward R · 2008: -13.5pp · 2024: -24.7pp
• All cycles: 2024: R+24.7 2020: R+20.0 2016: R+23.1 2012: R+17.1 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.23%
• Current HPI: 265.3457
• Rent YoY: ▲ 1.67%
• 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

-90.5% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $405,000 Zillow
• 2026-05-12 Price Changed $405,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-16 Listed $418,079 Zillow
• 2026-04-16 Listed $418,079 Stellar MLS as Distributed by MLS Grid
• 2025-04-07 Sold (Public Records) $4,281,319 Public Records