1923 Pine Meadows Golfcourse Unit R · Eustis, FL 32726

$324,900

4 bd · 3.0 ba · 2,174 sqft · SingleFamily · 9 Days on market

Built 2026 Good condition $149/sqft · 44% below area Est $584k · 44% under · waterfront

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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).

• ARV discount +15.0/15.0
• Cash flow +8.0/30.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

This single-story home shares an open layout between the kitchen, dining area and family room for easy entertaining. A luxe owner's suite is in the rear of the home and comes complete with an en-suite bathroom and walk-in closet. There are three secondary bedrooms at the front of the home, ideal for overnight guests or residents needing additional privacy, as well as a flex space that can transform to meet the household's needs.

Key facts

• Luxe owner's suite
• Walk-in closet
• Flex space

Tags

• OPEN LAYOUT
• LUXE OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• FLEX SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $325k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-336 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $276k (14.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (25.6% below list).
• Recommended offer: $242k (25.6% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 4.0% in Eustis — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 73/100 on livability (#309 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, 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: Eustis Heights Elementary School (math 49% / reading 42%, grade D-, #1,247 of 2,144 statewide, top 59%, 676 students, 69% FRL); Eustis Middle School (math 45% / reading 41%, grade D-, #331 of 571 statewide, top 59%, 824 students, 57% FRL); Eustis High School (math 33% / reading 40%, grade F, #351 of 667 statewide, top 54%, 1,368 students, 45% FRL).
• Market conditions: Rents rising (+3.2%/yr); 527 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• At $2,417/mo this rent would consume 46% of the median local household income ($63k/yr) — 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 $10k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $241,744 (25.6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 0.74% ✗
• Cap rate: 5.05%
• Cash-on-cash: -4.43%
• DSCR: 0.80
• GRM: 11.2

CMA / ARV

• ARV (median comp): $584,500
• List price: $324,900
• Delta: -44.41%
• Verdict: UNDERPRICED
• Comps: 4 within 6.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1954 Pine Meadows Golfcourse Rd	0.06mi	4/3.0	2,174 (0%)	1mo	$336,952	$155	96
1945 Pine Meadows Golfcourse Rd	0.20mi	4/3.0	2,174 (0%)	0mo	$350,228	$161	91
1927 Pine Meadows Golfcourse Rd	0.20mi	4/3.0	2,174 (0%)	1mo	$349,555	$161	90
2142 Town Pasture Dr	0.32mi	4/3.0	2,151 (-1%)	2mo	$415,224	$193	82
2521 Hallow Garden Rd	0.17mi	5/2.5 (+1)	2,112 (-3%)	2mo	$344,280	$163	78
2489 Hallow Garden Rd	0.26mi	5/2.5 (+1)	2,112 (-3%)	2mo	$339,386	$161	75
1564 Willow Garden Loop	0.15mi	4/2.5	1,874 (-14%)	0mo	$329,042	$176	68
2493 Hallow Garden Rd	0.20mi	4/2.5	1,874 (-14%)	0mo	$340,590	$182	65
2501 Hallow Garden Rd	0.19mi	4/2.5	1,874 (-14%)	1mo	$320,240	$171	65
1531 Willow Garden Loop	0.21mi	4/2.5	1,874 (-14%)	1mo	$319,000	$170	64
2473 Hallow Garden Rd	0.24mi	4/2.5	1,874 (-14%)	0mo	$310,890	$166	63
2485 Hallow Garden Rd	0.22mi	4/2.5	1,874 (-14%)	2mo	$340,792	$182	63

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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -23.5%
• Equity multiple: 0.19×
• Total profit: $-73,494
• Equity at exit: $48,444

10-year hold

• IRR: -17.8%
• Equity multiple: 0.02×
• Total profit: $-89,357
• Equity at exit: $28,091

Cash invested: $90,972 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 81 active · 48 under contract
• Months of supply: 17.4 mo (6%/mo absorbed)
• Median asking: $331,400 ($170/sqft)
• Median days on market: 33 d
• This list price: 37% of active listings are priced below it
• ARV vs active asking: +58.0% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32726

• Home prices YoY: -21.3%
• Rents YoY: 3.2%
• Active inventory: 527
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,417 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,874/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-336

Break-even live

Break-even rent $2,842

Max offer price $276,349

Occupancy floor —

Sensitivity live

Price	-10% $-111	-5% $-223	+0% $-336	+5% $-448	+10% $-560
Rent	-10% $-527	-5% $-431	+0% $-336	+5% $-240	+10% $-145
Rate	-1.0pp $-172	-0.5pp $-253	base $-336	+0.5pp $-420	+1.0pp $-505

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: $81,225
• Closing costs: $9,747
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1917 Pine Meadows Golf Course Rd Eustis, FL	4.0	2.0	1825	$1,940	$1.06	10d	1	0.02mi
1580 Willow Garden Loop Eustis, FL	3.0	2.0	1429	$2,350	$1.64	3d	1	0.15mi
1580 Willow Garden Loop Eustis, FL	3.0	2.0	1429	$2,350	$1.64	109d	1	0.15mi
2501 Hallow Garden Rd Eustis, FL	4.0	2.5	1874	$2,150	$1.15	10d	1	0.17mi
2510 Hallow Garden Rd Eustis, FL	4.0	2.5	1880	$2,550	$1.36	164d	1	0.18mi
2510 Hallow Garden Rd Eustis, FL	4.0	2.5	1874	$2,450	$1.31	10d	1	0.18mi
1491 Willow Garden Loop Eustis, FL	4.0	3.0	2174	$2,600	$1.20	131d	1	0.20mi
2466 Hallow Garden Rd Eustis, FL	4.0	2.5	1874	$2,500	$1.33	3d	1	0.23mi
2466 Hallow Garden Rd Eustis, FL	4.0	2.5	1874	$2,550	$1.36	129d	1	0.23mi
2470 Hallow Garden Rd Eustis, FL	4.0	2.5	1874	$2,525	$1.35	10d	1	0.23mi
2470 Hallow Garden Rd Eustis, FL	4.0	2.5	1880	$2,600	$1.38	121d	1	0.23mi
2486 Hallow Garden Rd Eustis, FL	3.0	2.0	1429	$2,350	$1.64	134d	1	0.23mi
2461 Hallow Garden Rd Eustis, FL	4.0	2.5	1880	$2,300	$1.22	10d	1	0.25mi
1438 Acorn Meadow Loop Eustis, FL	4.0	3.0	1898	$2,100	$1.11	105d	1	0.34mi
37350 Turner Dr Umatilla, FL	3.0	2.0	1530	$2,200	$1.44	10d	1	0.58mi
1912 Pine Meadows Golf Course Rd Eustis, FL	4.0	3.0	2174	$2,600	$1.20	124d	1	0.78mi
1912 Pine Meadows Golf Course Rd Eustis, FL	4.0	3.0	2174	$2,500	$1.15	10d	1	0.78mi
1914 Pine Meadows Golf Course Rd Eustis, FL	4.0	3.0	2174	$2,600	$1.20	145d	1	0.78mi
1730 N County Road 19A Eustis, FL	3.0	3.0	1448	$1,900	$1.31	1d	1	1.28mi

Listing history 4 events

1. 2026-06-03
   days on market $324,900 Active 9 DOM
2. 2026-06-02
   pricedays on market $324,900 Active 8 DOM
3. 2026-06-02
   days on market $329,900 Active 7 DOM
4. 2026-05-31
   days on market $329,900 Active 6 DOM

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

Taxation est. · year 1

• Rental income: $29,009
• − Mortgage interest: −$18,199
• − Property taxes: −$4,874
• − Insurance: −$1,624
• − Repairs & maintenance: −$2,321
• − Management: −$2,321
• − Depreciation: −$9,452
• Taxable loss: −$9,781
• Est. tax savings @ 24.0%: +$2,347
• After-tax cash flow: $-1,679/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.

Condition & rehab AI · 20 photos

Good 80/100 Cosmetic rehab Est. rehab $10,870–$32,610 screening

This single-story home is in good condition with a modern and well-maintained interior and exterior. It has a good layout and is ready for a new owner to move in and enjoy.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Updating the flooring in the bathrooms — New flooring can improve the look and feel of the bathrooms ↑
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and functionality ↑
• Both Adding smart home features — Smart home features can increase convenience and add value ↑
• Both Landscaping the front yard — A well-maintained front yard can enhance curb appeal and add value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Eustis Heights Elementary School D- FL #1,247/2,144 Nat'l #15,746/41,679 Middle Eustis Middle School D- FL #331/571 Nat'l #5,160/14,009 High Eustis High School F FL #351/667 Nat'l #9,347/17,239

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

B Composite livability gradescore 73/100

Livability — Eustis

• Score: 73/100
• State rank: #309
• US rank: #5286

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 386,640 people
• City population: 24,715
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 24,715
• Household income: $63,152
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 6% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Black 19% Hispanic / Latino 17% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 4%
• Languages at home: 84% English-only · Spanish 10% French/Haitian/Cajun 3% Other Indo-European 1%

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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: ▼ -88.12%
• Current HPI: 325.4692
• Rent YoY: ▲ 3.20%
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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