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264 Ponce De Leon Dr #264
B- Composite 68.84
Why this score? — see what drove the B- 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 +25.3/30.0
  • ARV discount +15.0/15.0
  • DSCR +8.3/10.0
  • 1% rule +6.6/10.0
  • Schools +5.2/10.0
  • Condition / age +4.8/5.0
  • Livability +3.8/5.0
  • Rent growth +3.4/5.0
  • Appreciation +2.5/10.0
  • Manufactured-home adj. -6.0

$137,500

264 Ponce De Leon Dr #264 · Winter Springs, FL 32708
2 bd · 2.0 ba · 1,568 sqft · Manufactured · 133 Days on market
Manufactured home Built 2026 Excellent condition $88/sqft · 33% below area Est $206k · 33% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Brand-new 2026 Home - The Riviera - offering modern design and quality craftsmanship throughout. This beautifully appointed residence features recessed lighting, elegant crown molding, and luxury plank flooring that flows seamlessly through the home. The stylish kitchen is equipped with stainless steel appliances, creating a sleek and functional space for everyday living and entertaining. A decorative glass entry door adds a welcoming touch, while the screened porch provides the perfect spot to relax and enjoy the outdoors year-round.

Key facts

  • Modern design
  • Recessed lighting
  • Plank flooring

Tags

MODERN DESIGNQUALITY CRAFTSMANSHIPRECESSED LIGHTINGCROWN MOLDINGPLANK FLOORINGSTAINLESS STEEL APPLIANCES

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
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What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath manufactured listed at $138k. Condition is rated excellent.

Deal economics

  • At list price, monthly cash flow is $312 ($4k/yr) — positive.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($2k rent vs $138k).
  • Recommended offer: $121k (12.0% below list) — sets the bar for market timing.
  • Cap rate 9.0% vs local median 3.7% in Winter Springs — 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 75/100 on livability (#261 in FL, #4,187 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
  • Seminole (suburban): math 57% / reading 61% proficiency, ranked #13 of 73 in FL (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
  • Zoned schools: Layer Elementary School (math 54% / reading 61%, grade C+, #764 of 2,144 statewide, top 36%, 608 students, 55% FRL); Indian Trails Middle School (math 60% / reading 60%, grade B, #135 of 571 statewide, top 24%, 1,197 students, 44% FRL); Winter Springs High School (math 43% / reading 55%, grade D, #193 of 667 statewide, top 29%, 2,038 students, 47% FRL).
  • Market conditions: Rents rising (+3.6%/yr); 368 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 75d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,979 units permitted in Seminole County in 2024 (1,191 in 5+ unit buildings).

Forward outlook

  • Local home prices are declining (-3.0%/yr); year-one equity from $951 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
  • Seminole County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
  • At projected returns (-3.0% appreciation + 3.6% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

  • It's been on market 133 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
Recommended offer $121,000 (12.0% below list)

Questions for the listing agent

  1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
  2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  4. Schools are A-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?
  5. 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.
  6. 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.
  7. 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
1.16%
Cap rate
9.02%
Cash-on-cash
9.73%
DSCR
1.43
GRM
7.2

CMA / ARV

ARV (median comp)
$206,479
List price
$137,500
Delta
-33.41%
Verdict
UNDERPRICED
Comps
9 within 2.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
307 Cello Cir 0.54mi 3/2.0 (+1) 1,551 (-1%) 0mo $365,000 $235 68
405 N Hawthorn Cir 0.55mi 3/2.0 (+1) 1,656 (+6%) 1mo $318,000 $192 59
143 Hayes Rd 0.65mi 3/2.0 (+1) 1,649 (+5%) 1mo $445,000 $270 55
239 Panorama Dr 0.36mi 3/2.0 (+1) 1,349 (-14%) 0mo $330,000 $245 55
510 Green Spring Cir 0.39mi 2/2.5 1,180 (-25%) 0mo $202,000 $171 55
477 Green Spring Cir 0.30mi 3/1.5 (+1) 1,280 (-18%) 1mo $225,000 $176 53
339 Inglenook Cir 0.64mi 3/2.0 (+1) 1,437 (-8%) 0mo $359,000 $250 51
1562 Grand Rue Dr 1.21mi 3/2.5 (+1) 1,498 (-4%) 0mo $335,000 $224 50
740 Galloway Ct 1.35mi 3/2.0 (+1) 1,692 (+8%) 1mo $410,000 $242 46
140 N Fairfax 0.43mi 3/1.0 (+1) 1,188 (-24%) 1mo $305,000 $257 45
203 Sweetgum 0.55mi 3/2.0 (+1) 1,218 (-22%) 0mo $380,000 $312 44
240 N Devon Ave 0.53mi 3/2.0 (+1) 1,238 (-21%) 1mo $332,000 $268 44

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 · 3.58% rent growth · sell at horizon

5-year hold
IRR
-1.0%
Equity multiple
0.96×
Total profit
$-1,435
Equity at exit
$20,502
10-year hold
IRR
9.3%
Equity multiple
1.74×
Total profit
$28,345
Equity at exit
$11,888

Cash invested: $38,500 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
21 active
Months of supply
126.0 mo (1%/mo absorbed)
Median asking
$135,500 ($110/sqft)
Median days on market
42 d
This list price
95% of active listings are priced below it
ARV vs active asking
+19.7% above current asking $/sqft

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

ZIP-level market 32708

Rents YoY
3.6%
Active inventory
368
Price-to-rent
7.2×

Monthly cashflow live

Estimated rent
$1,598 high interval (Pro) →
Mortgage (P&I)
$721
Tax est. 1.5%
$172 /mo · $2,062/yr
Insurance
$57
HOA
$0
Lot rent leased land?
$0
Vacancy / Maint / Mgmt
$336
Net cashflow
$312

Break-even live

Break-even rent $1,203
Max offer price $137,500
Occupancy floor 75%

Sensitivity live

Price -10% $407 -5% $360 +0% $312 +5% $265 +10% $217
Rent -10% $186 -5% $249 +0% $312 +5% $375 +10% $438
Rate -1.0pp $381 -0.5pp $347 base $312 +0.5pp $277 +1.0pp $240

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
$34,375
Closing costs
$4,125
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
109 N Alderwood St Winter Springs, FL 3.0 2.0 1458 $2,150 $1.47 87d 1 0.23mi
224 Bitterwood St Winter Springs, FL 3.0 2.0 1580 $2,299 $1.46 87d 1 0.31mi
224 Bitterwood St Winter Springs, FL 3.0 2.0 1580 $2,299 $1.46 94d 1 0.31mi
477 Green Spring Cir Winter Springs, FL 3.0 1.5 1280 $1,900 $1.48 7d 1 0.32mi
228 Bitterwood St Winter Springs, FL 3.0 2.0 1887 $2,100 $1.11 43d 1 0.33mi
44 S Cortez Ave Winter Springs, FL 3.0 2.0 1320 $2,295 $1.74 70d 1 0.33mi
44 S Cortez Ave Winter Springs, FL 3.0 2.0 1320 $2,275 $1.72 23d 1 0.33mi
44 S Cortez Ave Winter Springs, FL 3.0 2.0 1320 $2,395 $1.81 98d 1 0.33mi
495 Green Spring Cir Winter Springs, FL 3.0 2.5 1375 $1,900 $1.38 84d 1 0.36mi
526 Seasons Ct Winter Springs, FL 3.0 2.0 1161 $2,295 $1.98 30d 1 0.38mi
226 Panorama Dr Winter Springs, FL 3.0 2.0 1100 $1,750 $1.59 100d 1 0.38mi
119 Sundance Ct Winter Springs, FL 3.0 2.0 1161 $1,995 $1.72 4d 1 0.39mi
118 Sundance Ct Winter Springs, FL 3.0 2.0 1161 $2,149 $1.85 94d 1 0.41mi
213 Buttonwood Ave Winter Springs, FL 3.0 2.0 1232 $1,975 $1.60 30d 1 0.44mi
200 Panorama Dr Winter Springs, FL 3.0 2.0 1600 $1,600 $1.00 110d 1 0.45mi
114 Cory Ln Winter Springs, FL 2.0 2.0 1090 $1,395 $1.28 110d 1 0.49mi
404 Lancers Dr Winter Springs, FL 3.0 2.0 1406 $2,400 $1.71 106d 1 0.51mi
404 Lancers Dr Winter Springs, FL 3.0 2.0 1406 $2,400 $1.71 110d 1 0.51mi
404 San Gabriel St Winter Springs, FL 3.0 2.0 1089 $1,900 $1.74 76d 1 0.54mi
317 San Gabriel St Winter Springs, FL 3.0 2.0 1100 $1,900 $1.73 119d 1 0.55mi
305 Cello Cir Winter Springs, FL 3.0 2.0 1308 $2,225 $1.70 108d 1 0.57mi
202 Perth Ct Winter Springs, FL 3.0 2.0 1247 $1,900 $1.52 10d 1 0.58mi
216 Bennett St Winter Springs, FL 3.0 1.0 1120 $1,695 $1.51 82d 1 0.58mi
424 Lancers Dr Winter Springs, FL 3.0 2.0 1500 $2,460 $1.64 3d 1 0.59mi
222 Albert St Winter Springs, FL 3.0 1.0 1087 $1,995 $1.84 74d 1 0.60mi
222 Albert St Winter Springs, FL 3.0 1.0 1087 $1,995 $1.84 40d 1 0.60mi
312 Riunite Cir Winter Springs, FL 3.0 2.0 1269 $2,140 $1.69 29d 1 0.64mi
105 Keith Ct Winter Springs, FL 3.0 2.5 1457 $2,150 $1.48 98d 1 0.65mi
502 San Gabriel Ct Winter Springs, FL 3.0 2.0 1187 $2,050 $1.73 40d 1 0.65mi
502 San Gabriel Ct Winter Springs, FL 3.0 2.0 1187 $2,050 $1.73 23d 1 0.65mi
337 Riunite Cir Winter Springs, FL 3.0 2.0 1500 $2,200 $1.47 74d 1 0.67mi
616 David St Winter Springs, FL 3.0 1.0 1108 $1,795 $1.62 10d 1 0.67mi
421 S Hawthorn Cir Winter Springs, FL 3.0 2.0 1052 $2,070 $1.97 100d 1 0.69mi
500 George St Winter Springs, FL 3.0 1.0 1123 $1,800 $1.60 43d 1 0.70mi
614 Sailfish Rd Winter Springs, FL 3.0 2.0 1466 $2,195 $1.50 6d 1 0.79mi
407 Sheoah Blvd #9 Winter Springs, FL 3.0 2.5 1400 $1,600 $1.14 87d 1 0.79mi
411 Sheoah Blvd #43 Winter Springs, FL 3.0 2.5 1400 $1,999 $1.43 10d 1 0.84mi
475 Macgregor Rd Winter Springs, FL 3.0 2.0 2057 $2,500 $1.22 84d 1 0.88mi
475 Macgregor Rd Unit NA Winter Springs, FL 3.0 2.0 2057 $2,500 $1.22 72d 1 0.88mi
423 Sheoah Blvd #14 Winter Springs, FL 3.0 2.0 1187 $1,750 $1.47 43d 1 0.90mi

Property features AI

Finance

Financial info
List price $137,500

Exterior

Utilities
Has heating
Home design
Spec new construction, plan name The Riviera
Exterior features
Address: 264 Ponce De Leon Dr #264, Winter Springs, FL 32708

Interior

Bedrooms
2 bedrooms
Bathrooms
2 full bathrooms
Heating & cooling
Forced air heating
Interior features
Living area approximately 1,568

Listing history 33 events

  1. 2026-07-14
    days on market $137,500 Active 133 DOM
  2. 2026-07-13
    days on market $137,500 Active 132 DOM
  3. 2026-07-13
    days on market $137,500 Active 131 DOM
  4. 2026-07-11
    days on market $137,500 Active 130 DOM
  5. 2026-07-10
    days on market $137,500 Active 129 DOM
  6. 2026-07-09
    days on market $137,500 Active 128 DOM
  7. 2026-07-07
    days on market $137,500 Active 126 DOM
  8. 2026-07-06
    days on market $137,500 Active 125 DOM
  9. 2026-07-05
    days on market $137,500 Active 124 DOM
  10. 2026-07-03
    days on market $137,500 Active 122 DOM
  11. 2026-07-02
    days on market $137,500 Active 121 DOM
  12. 2026-07-01
    days on market $137,500 Active 120 DOM
  13. 2026-06-30
    days on market $137,500 Active 119 DOM
  14. 2026-06-29
    days on market $137,500 Active 118 DOM
  15. 2026-06-28
    days on market $137,500 Active 117 DOM
  16. 2026-06-27
    days on market $137,500 Active 116 DOM
  17. 2026-06-26
    days on market $137,500 Active 115 DOM
  18. 2026-06-24
    days on market $137,500 Active 113 DOM
  19. 2026-06-22
    days on market $137,500 Active 111 DOM
  20. 2026-06-21
    days on market $137,500 Active 110 DOM
  21. 2026-06-18
    days on market $137,500 Active 107 DOM
  22. 2026-06-17
    days on market $137,500 Active 106 DOM
  23. 2026-06-16
    days on market $137,500 Active 105 DOM
  24. 2026-06-15
    days on market $137,500 Active 104 DOM
  25. 2026-06-13
    days on market $137,500 Active 102 DOM
  26. 2026-06-09
    days on market $137,500 Active 98 DOM
  27. 2026-06-08
    days on market $137,500 Active 97 DOM
  28. 2026-06-07
    days on market $137,500 Active 96 DOM
  29. 2026-06-04
    days on market $137,500 Active 93 DOM
  30. 2026-06-03
    days on market $137,500 Active 92 DOM
  31. 2026-06-02
    days on market $137,500 Active 91 DOM
  32. 2026-06-02
    days on market $137,500 Active 90 DOM
  33. 2026-05-31
    days on market $137,500 Active 89 DOM

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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$19,176
− Mortgage interest
−$7,702
− Property taxes
−$2,062
− Insurance
−$688
− Repairs & maintenance
−$1,534
− Management
−$1,534
− Depreciation
−$4,000
Taxable income
$1,656
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$397
After-tax cash flow
$3,349/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 · 4 photos

Excellent 95/100 None rehab

This brand-new 2026 manufactured home is in excellent condition with modern design and quality craftsmanship. It is move-in ready with no visible repairs or maintenance needed, making it an attractive investment for both resale and rental.

Value-add opportunities

  • Both Painting the exterior and interior — Fresh paint enhances curb appeal and interior aesthetics.
  • Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental.
  • Resale Upgrading appliances — Modern appliances improve the home's functionality and appeal to potential buyers.
  • Both Adding smart home features — Enhances convenience and adds value for both resale and rental.
D Composite school gradezoned avg 52/100

Zoned Schools

Elementary Winter Springs Elementary School D- FL #1,223/2,144 Nat'l #15,452/41,679 Middle Indian Trails Middle School B FL #135/571 Nat'l #1,793/14,009 High Winter Springs High School D FL #193/667 Nat'l #6,078/17,239

Schools (NCES district)

District
Seminole
NCES district ID
1201710
Math proficiency
57% ▼ -7.00%
Reading proficiency
61% ▼ -1.00%
Median HH income
$58,478
Composite
51.05/100
National rank
#1769
State rank
#13 of 73 in FL
B Composite livability gradescore 75/100

Livability — Winter Springs

Score
75/100
State rank
#261
US rank
#4187

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place
Winter Springs, FL
County
Seminole County · 515,494 people
City population
48,965
Metro
Orlando-Kissimmee-Sanford, FL
Population (ZIP)
48,965
Household income
$93,628
Rent vs Own
24.8% rent · 75.2% own
Severe rent burden
11% of renters

Population outlook (Seminole County) Hauer SSP2

Today (2025)
515,494 people
By 2030
545,713 · +5.9%
By 2040
598,068 · +16.0%
By 2050
640,663 · +24.3%
By 2075
724,461 · +40.5%
By 2100
755,530 · +46.6%

Race, ethnicity, and origin ACS 2023

Neighborhood character
Majority White (63%)
Race & ethnicity
White 63% Hispanic / Latino 23% Two or more races 11% Black 6% Asian 4%
Hispanic origin (detail)
Mexican 1% Puerto Rican 12% Cuban 2% Dominican 1%
Common ancestry
Lithuanian 3% Slovak 3% Romanian 2%
Foreign-born
11% · Canada, Jamaica, Vietnam
Languages at home
77% English-only · Spanish 15% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Seminole

2024 margin
Toss-up / Even · D 47.6% · R 51.1% · Other 1.3%
2008→2024 swing
-0.8pp no change · 2008: -2.8pp · 2024: -3.5pp
All cycles
2024: R+3.5 2020: D+2.8 2016: R+1.6 2012: R+6.5 2008: R+2.8

Not yet ingested

Civics

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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