1440 Nassau Cir · Tavares, FL 32778

$177,000

2 bd · 2.0 ba · 1,300 sqft · Manufactured public records · 26 Days on market

Built 1983 6,195 sqft lot Est $179k · at est. $52/mo HOA · 3% 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 +22.8/30.0
• ARV discount +8.1/15.0
• DSCR +7.3/10.0
• 1% rule +6.3/10.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located In the Popular Lake Frances community. This is a 2/2 Home with a dining room and great room. Owners take great care of the home and the home has a newer AC and water heater. There is a 10x20 enclosed bonus room with a window AC to help in the hotter weather in this room. The home is in nice condition and will make a great home or 2nd home for someone. There is a separate storage area in the carport which has the washer and dryer hook up and additional storage.

Key facts

• Functional kitchen
• Golf cart lifestyle
• Full water system

Tags

• LOW HOA FEE
• FLORIDA ROOM
• FUNCTIONAL KITCHEN
• NATURAL LIGHT
• FULL WATER SYSTEM
• GOLF CART LIFESTYLE

Property features AI

Finance

• Other: Unfurnished; Living area approximately 1,300; Total rooms: 8
• HOA & community: Monthly HOA fee of $52 (includes pool); Association required (Betty Helber); Community amenities: clubhouse, deed restrictions, pool, golf carts allowed; Senior community; Pets allowed: cats and dogs

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Manufactured double-wide home; Single-story; Faces west
• Construction: Vinyl siding; Metal roof; Crawlspace foundation; Built on a 61 x 100 lot (approximately 0.14 acre)
• Exterior features: Awning(s); Sprinkler (metered); Irrigation equipment; Asphalt road access (public maintained)

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Water purifier; Water softener
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heat; Central air; Attic fan
• Interior features: Thermostat; Florida room
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $177k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $177k).
• Recommended offer: $174k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.5% in Tavares — 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 76/100 on livability (#220 in FL, #3,464 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, 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: Tavares Elementary School (math 49% / reading 45%, grade D-, #1,191 of 2,144 statewide, top 57%, 875 students, 61% FRL); Tavares High School (math 32% / reading 40%, grade F, #359 of 667 statewide, top 55%, 1,507 students, 45% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents rising fast (+4.0%/yr); 501 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 38% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $5k 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 26 days — a 2% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $61k; list at $177k implies a 190% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,345 (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. 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.
4. 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.
5. 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: 1.13% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.49%
• DSCR: 1.33
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $179,400
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1437 Mohawk Cir	0.15mi	2/2.0	1,248 (-4%)	1mo	$172,500	$138	85
1528 Schult Ct	0.11mi	2/2.0	1,248 (-4%)	6mo	$170,000	$136	83
1547 Apache Cir	0.08mi	2/2.0	1,360 (+5%)	9mo	$152,008	$112	82
1001 Belmont Cir	0.32mi	2/2.0	1,352 (+4%)	3mo	$155,000	$115	76
1424 Mohawk Cir	0.09mi	2/2.0	1,160 (-11%)	2mo	$195,000	$168	76
1156 Capella Dr	0.25mi	2/2.0	1,248 (-4%)	11mo	$184,900	$148	72
1408 Skyline Ct	0.11mi	2/2.0	1,144 (-12%)	8mo	$92,000	$80	68
1209 Apache Cir	0.17mi	2/2.0	1,152 (-11%)	9mo	$128,000	$111	66
1681 Elkhart Cir	0.21mi	2/2.0	1,125 (-14%)	7mo	$172,000	$153	62
1560 Skyline Dr	0.22mi	3/2.0 (+1)	1,471 (+13%)	4mo	$265,000	$180	60

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 · 4.05% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-6,780
• Equity at exit: $26,391

10-year hold

• IRR: 7.3%
• Equity multiple: 1.58×
• Total profit: $28,690
• Equity at exit: $15,304

Cash invested: $49,560 (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 32778

• Home prices YoY: -23.4%
• Rents YoY: 4.0%
• Active inventory: 501
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,006 high
• Mortgage (P&I): −$928
• Tax est. 1.5%: −$221 /mo · $2,655/yr
• Insurance: −$74
• HOA: −$52
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $309

Break-even live

Break-even rent $1,614

Max offer price $177,000

Occupancy floor 80%

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: $44,250
• Closing costs: $5,310
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1003 Dora Ave Tavares, FL	3.0	3.5	1680	$2,400	$1.43	14d	1	0.41mi
1003 Dora Ave Unit A Tavares, FL	3.0	3.5	1788	$2,400	$1.34	23d	1	0.41mi
814 N Saint Clair Abrams Ave Tavares, FL	3.0	2.0	1872	$1,275	$0.68	23d	1	0.43mi
807 McLain Ct Tavares, FL	2.0	2.0	1104	$1,700	$1.54	16d	1	0.52mi
336 Shorewood Dr Tavares, FL	3.0	2.0	1740	$2,215	$1.27	16d	1	0.54mi
2225 Cypress Ct Unit 2C Tavares, FL	2.0	2.0	1334	$2,000	$1.50	23d	1	0.62mi
743 E Alfred St Tavares, FL	2.0	1.0	1000	$1,450	$1.45	23d	1	0.71mi
1632 Tudor Ln Unit 1632 Tavares, FL	2.0	2.0	1047	$1,595	$1.52	17d	1	0.73mi
1403 E Alfred St Unit 200 Tavares, FL	2.0	1.5	1000	$2,000	$2.00	17d	1	0.92mi
1108 Longville Cir Tavares, FL	3.0	2.0	1585	$2,150	$1.36	5d	1	1.03mi
2213 Merry Rd Tavares, FL	3.0	2.0	1596	$1,990	$1.25	4d	1	1.09mi
2420 Ann Rou Rd Unit 201 Tavares, FL	1.0	1.0	1000	$1,555	$1.55	17d	1	1.19mi
123 N Lake Ave Tavares, FL	2.0	1.0	1120	$1,595	$1.42	23d	1	1.22mi
2460 Ann Rou Rd Unit 606 Tavares, FL	2.0	2.0	1167	$1,750	$1.50	17d	1	1.30mi

HOA detail

• Monthly dues: $52 · $624/yr
• Likely covers: water

Listing history 25 events

1. 2026-06-18
   days on market $177,000 Active 26 DOM
2. 2026-06-17
   days on market $177,000 Active 25 DOM
3. 2026-06-16
   days on market $177,000 Active 24 DOM
4. 2026-06-15
   days on market $177,000 Active 23 DOM
5. 2026-06-13
   days on market $177,000 Active 21 DOM
6. 2026-06-09
   days on market $177,000 Active 17 DOM
7. 2026-06-08
   days on market $177,000 Active 16 DOM
8. 2026-06-07
   days on market $177,000 Active 15 DOM
9. 2026-06-04
   days on market $177,000 Active 12 DOM
10. 2026-06-03
    days on market $177,000 Active 11 DOM
11. 2026-06-02
    days on market $177,000 Active 10 DOM
12. 2026-06-02
    status $177,000 Active 9 DOM
13. 2026-05-21
    status Pending
14. 2026-05-12
    listed $177,000 Active
15. 2025-12-05
    price $179,900
16. 2025-11-06
    price $189,900
17. 2025-09-05
    listed $193,700 Active
18. 2015-10-20
    soldstatus $61,000
19. 2015-10-15
    historical 472-char remark

    Show marketing remark (472 chars)

    Located In the Popular Lake Frances community. This is a 2/2 Home with a dining room and great room. Owners take great care of the home and the home has a newer AC and water heater. There is a 10x20 enclosed bonus room with a window AC to help in the hotter weather in this room. The home is in nice condition and will make a great home or 2nd home for someone. There is a separate storage area in the carport which has the washer and dryer hook up and additional storage.

20. 2015-10-13
    soldstatus $61,000 Sold 472-char remark

    Show marketing remark (472 chars)

    Located In the Popular Lake Frances community. This is a 2/2 Home with a dining room and great room. Owners take great care of the home and the home has a newer AC and water heater. There is a 10x20 enclosed bonus room with a window AC to help in the hotter weather in this room. The home is in nice condition and will make a great home or 2nd home for someone. There is a separate storage area in the carport which has the washer and dryer hook up and additional storage.

21. 2015-09-01
    status Pending 472-char remark

    Show marketing remark (472 chars)

    Located In the Popular Lake Frances community. This is a 2/2 Home with a dining room and great room. Owners take great care of the home and the home has a newer AC and water heater. There is a 10x20 enclosed bonus room with a window AC to help in the hotter weather in this room. The home is in nice condition and will make a great home or 2nd home for someone. There is a separate storage area in the carport which has the washer and dryer hook up and additional storage.

22. 2015-08-28
    status Active 472-char remark

    Show marketing remark (472 chars)

    Located In the Popular Lake Frances community. This is a 2/2 Home with a dining room and great room. Owners take great care of the home and the home has a newer AC and water heater. There is a 10x20 enclosed bonus room with a window AC to help in the hotter weather in this room. The home is in nice condition and will make a great home or 2nd home for someone. There is a separate storage area in the carport which has the washer and dryer hook up and additional storage.

23. 2015-08-26
    historical 472-char remark

    Show marketing remark (472 chars)

    Located In the Popular Lake Frances community. This is a 2/2 Home with a dining room and great room. Owners take great care of the home and the home has a newer AC and water heater. There is a 10x20 enclosed bonus room with a window AC to help in the hotter weather in this room. The home is in nice condition and will make a great home or 2nd home for someone. There is a separate storage area in the carport which has the washer and dryer hook up and additional storage.

24. 2015-08-12
    listed $64,900 Active 472-char remark

    Show marketing remark (472 chars)

    Located In the Popular Lake Frances community. This is a 2/2 Home with a dining room and great room. Owners take great care of the home and the home has a newer AC and water heater. There is a 10x20 enclosed bonus room with a window AC to help in the hotter weather in this room. The home is in nice condition and will make a great home or 2nd home for someone. There is a separate storage area in the carport which has the washer and dryer hook up and additional storage.

25. 2000-08-30
    soldstatus $52,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 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: $24,068
• − Mortgage interest: −$9,915
• − Property taxes: −$2,655
• − Insurance: −$885
• − Repairs & maintenance: −$1,925
• − Management: −$1,925
• − HOA: −$624
• − Depreciation: −$5,149
• Taxable income: $990
• Est. tax owed @ 24.0%: −$237
• After-tax cash flow: $3,474/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 — Tavares

• Score: 76/100
• State rank: #220
• US rank: #3464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tavares, FL
• County: Lake County · 364,602 people
• City population: 25,042
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 25,042
• Household income: $63,472
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 586.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 8% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Cuban 2% Dominican 1%
• Common ancestry: Romanian 4% Italian 3% Slovak 2%
• Foreign-born: 9% · Canada, Dominican Republic, Jamaica
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Other Asian/Pacific 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: ▼ -88.07%
• Current HPI: 288.7123
• Rent YoY: ▲ 4.05%
• 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

+240.4% since first listed

13 events — show timeline

• 2026-05-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-12 Listed $177,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-05 Price Changed $179,900 Stellar MLS as Distributed by MLS Grid
• 2025-11-06 Price Changed $189,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-05 Listed $193,700 Stellar MLS as Distributed by MLS Grid
• 2015-10-20 Sold (Public Records) $61,000 Public Records
• 2015-10-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2015-10-13 Sold (MLS) $61,000 Stellar MLS as Distributed by MLS Grid
• 2015-09-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-08-28 Relisted — Stellar MLS as Distributed by MLS Grid
• 2015-08-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2015-08-12 Listed $64,900 Stellar MLS as Distributed by MLS Grid
• 2000-08-30 Sold (Public Records) $52,000 Public Records

Property tax history

-0.8%/yr

Latest (2025): $287 · +6.9% YoY. Source: county tax records.