3832 Parway Rd #1344 · Zellwood, FL 32798

$205,000

2 bd · 2.0 ba · 1,761 sqft · Manufactured public records · 30 Days on market

Built 1988 6,022 sqft lot Est $162k · 27% over $415/mo HOA · 16% of rent

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Why this score? — see what drove the C- 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 +19.3/30.0
• 1% rule +7.4/10.0
• Appreciation +6.3/10.0
• DSCR +6.1/10.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

GOLF FRONTAGE. .. Spacious 2/2 1761 Sq Ft, Oversized Carport with Additional Storage, Large Screen Porch overlooking the Golf Course. Updated Kitchen with soft close drawers and doors, Newer Double Pain Windows, and replumbed.

Key facts

• Large screen porch
• Double paned windows
• Ikea kitchen

Tags

• MANUFACTURED WOOD FLOORS
• NEWLY REMODELED BATH
• IKEA KITCHEN
• BUTCHER BLOCK ISLAND
• LARGE SCREEN PORCH
• DOUBLE PANED WINDOWS

Property features AI

Finance

• Other: Lease restrictions apply
• Financial info: Total monthly fees reported ($415); total annual fees reported ($4,980)
• HOA & community: Has HOA with monthly fee ($415); Association requires approval and has fee requirements; Association amenities include clubhouse, fitness center, pool, spa/hot tub, tennis, pickleball, shuffleboard, golf, gated security, 24-hour guard, cable TV, internet, management, recreational facilities and trash service; Community features include deed restrictions, buyer approval required, no truck/RV/motorcycle parking, golf carts allowed, and on-site property manager; Senior community; Pets not allowed

Exterior

• Parking: Covered tandem parking; 2-car carport; Driveway
• Security: Gated community; Security gate; Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; BB/HS internet available; Water connected; Sewer connected
• Home design: Manufactured double-wide home; Single-story
• Construction: Brick, metal siding and frame construction; Shingle roof; Crawlspace foundation; Built as a completed property
• Exterior features: Covered screened side porch; Sliding doors; Storage; Shed(s); Mature landscaping; Cleared, landscaped and private lot; Located on golf course; Paved driveway/road (asphalt); Private maintained road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Eat-in kitchen; High ceilings; Kitchen/family room combo; Living room/dining room combo; Open floorplan; Walk-in closets; Wet bar; Double pane windows
• Laundry & utility: Inside laundry room; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $205k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $202k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#248 in FL, #3,918 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute D-.
• 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.
• Market conditions: 103 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $5k appreciation (2.5% local appreciation)).
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $57k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago 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.
• Current owner paid $85k; list at $205k implies a 141% 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; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,925 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.24% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.73%
• DSCR: 1.21
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $162,012
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3955 Cohen Dr #737	0.43mi	2/2.0	1,771 (+1%)	4mo	$215,000	$121	75
3644 Parway Rd #1149	0.18mi	2/2.0	1,538 (-13%)	1mo	$235,000	$153	70
3500 Blossom Cir #1497	0.63mi	2/2.0	1,656 (-6%)	2mo	$112,500	$68	59
3749 Cohen Dr #720	0.38mi	2/2.0	1,602 (-9%)	13mo	$147,000	$92	56
2057 Live Oak Ln #3	0.66mi	2/2.0	1,956 (+11%)	13mo	$75,000	$38	40

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

Projected returns pro-forma

2.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.59×
• Total profit: $34,034
• Equity at exit: $86,490

10-year hold

• IRR: 13.3%
• Equity multiple: 2.88×
• Total profit: $108,121
• Equity at exit: $129,029

Cash invested: $57,400 (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 32798

• Home prices YoY: 1.0%
• Active inventory: 103
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,541 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$205 /mo · $2,465/yr
• Insurance: −$85
• HOA: −$415
• Vacancy / Maint / Mgmt: −$534
• Net cashflow: $226

Break-even live

Break-even rent $2,254

Max offer price $205,000

Occupancy floor 86%

Sensitivity live

Price	-10% $342	-5% $284	+0% $226	+5% $168	+10% $110
Rent	-10% $26	-5% $126	+0% $226	+5% $327	+10% $427
Rate	-1.0pp $330	-0.5pp $279	base $226	+0.5pp $173	+1.0pp $119

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3875 Denali Dr Apopka, FL	3.0	2.5	1734	$2,450	$1.41	22d	1	1.30mi
3941 Cuyahoga Valley Ct Apopka, FL	3.0	2.5	2138	$2,650	$1.24	22d	1	1.36mi
3979 Capital Reef Way Apopka, FL	3.0	2.5	2128	$2,545	$1.20	15d	1	1.43mi

HOA detail

• Monthly dues: $415 · $4,980/yr

Listing history 19 events

1. 2026-06-17
   status $205,000 Pending 30 DOM
2. 2026-06-16
   days on market $205,000 Active 30 DOM
3. 2026-06-15
   days on market $205,000 Active 29 DOM
4. 2026-06-13
   days on market $205,000 Active 27 DOM
5. 2026-06-13
   days on market $205,000 Active 26 DOM
6. 2026-06-09
   days on market $205,000 Active 23 DOM
7. 2026-06-08
   days on market $205,000 Active 22 DOM
8. 2026-06-07
   days on market $205,000 Active 21 DOM
9. 2026-06-04
   days on market $205,000 Active 18 DOM
10. 2026-06-03
    days on market $205,000 Active 17 DOM
11. 2026-06-02
    days on market $205,000 Active 16 DOM
12. 2026-06-01
    days on market $205,000 Active 15 DOM
13. 2026-05-31
    days on market $205,000 Active 14 DOM
14. 2026-05-17
    listed $205,000 Active
15. 2017-12-29
    soldstatus $85,000 Sold 226-char remark

    Show marketing remark (226 chars)

    GOLF FRONTAGE. .. Spacious 2/2 1761 Sq Ft, Oversized Carport with Additional Storage, Large Screen Porch overlooking the Golf Course. Updated Kitchen with soft close drawers and doors, Newer Double Pain Windows, and replumbed.

16. 2017-11-18
    status Pending 226-char remark

    Show marketing remark (226 chars)

    GOLF FRONTAGE. .. Spacious 2/2 1761 Sq Ft, Oversized Carport with Additional Storage, Large Screen Porch overlooking the Golf Course. Updated Kitchen with soft close drawers and doors, Newer Double Pain Windows, and replumbed.

17. 2017-10-24
    price $89,900 226-char remark

    Show marketing remark (226 chars)

    GOLF FRONTAGE. .. Spacious 2/2 1761 Sq Ft, Oversized Carport with Additional Storage, Large Screen Porch overlooking the Golf Course. Updated Kitchen with soft close drawers and doors, Newer Double Pain Windows, and replumbed.

18. 2017-06-07
    price $99,900 226-char remark

    Show marketing remark (226 chars)

    GOLF FRONTAGE. .. Spacious 2/2 1761 Sq Ft, Oversized Carport with Additional Storage, Large Screen Porch overlooking the Golf Course. Updated Kitchen with soft close drawers and doors, Newer Double Pain Windows, and replumbed.

19. 2017-04-23
    listed $115,000 Active 226-char remark

    Show marketing remark (226 chars)

    GOLF FRONTAGE. .. Spacious 2/2 1761 Sq Ft, Oversized Carport with Additional Storage, Large Screen Porch overlooking the Golf Course. Updated Kitchen with soft close drawers and doors, Newer Double Pain Windows, and replumbed.

ⓘ 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: $2,465 · $205/mo
• Projected year-2 tax: $2,465 · $205/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,490
• − Mortgage interest: −$11,483
• − Property taxes: −$2,465
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,439
• − Management: −$2,439
• − HOA: −$4,980
• − Depreciation: −$5,964
• Taxable loss: −$305
• Est. tax savings @ 24.0%: +$73
• After-tax cash flow: $2,790/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 — Zellwood

• Score: 75/100
• State rank: #248
• US rank: #3918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zellwood, FL
• City population: 2,159
• Population (ZIP): 2,159

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 White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Iranian 5% Lithuanian 5% Romanian 2%
• Foreign-born: 5%
• Languages at home: 89% English-only · Spanish 9% German/W. Germanic 3%

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: ▲ 2.50%
• Current HPI: 254.7681
• Rent YoY: —
• Metro: —
• 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

+78.3% since first listed

6 events — show timeline

• 2026-05-17 Listed $205,000 Stellar MLS as Distributed by MLS Grid
• 2017-12-29 Sold (MLS) $85,000 Stellar MLS as Distributed by MLS Grid
• 2017-11-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-10-24 Price Changed $89,900 Stellar MLS as Distributed by MLS Grid
• 2017-06-07 Price Changed $99,900 Stellar MLS as Distributed by MLS Grid
• 2017-04-23 Listed $115,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+14.1%/yr

Latest (2025): $2,465 · +8.0% YoY. Source: county tax records.