10 Moree Loop #3 · Winter Springs, FL 32708

$135,000

2 bd · 1.5 ba · 1,080 sqft · Condo public records · 81 Days on market

Built 1973 $446/mo HOA · 25% 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 +14.4/30.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• DSCR +4.4/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Virtually Staged. You will LOVE living in Baytree, a towhome styled condominium community in the desirable Highlands of Winter Springs! This home has been well loved and owned by the same owner for many years and is ready for YOU to make it YOURS. Offering a great floor plan and lots of space with a screen enclosed back porch and covered entry. Two large bedrooms on the 2nd floor and a convenient half bath on the first floor. Ample storage space! Appliances include NEW water heater (2026), washer/dryer, refrigerator, range and dishwasher! The Highlands community offers great amenities including a community pool, tennis/pickleball courts and walking tr

Key facts

• Ample storage space
• Pickleball courts
• Community pool

Tags

• SCREEN ENCLOSED BACK PORCH
• COVERED ENTRY
• AMPLE STORAGE SPACE
• COMMUNITY POOL
• TENNIS COURTS
• PICKLEBALL COURTS

Property features AI

Finance

• Other: Unfurnished; Association names: Courtney Lawson; Highlands (Extreme Mgmt)
• Financial info: Total monthly fees reported as $446.63; Total annual fees reported as $5,359.60; Lease restrictions apply
• HOA & community: Monthly HOA fee of $413.30; Additional annual association fee of $400; Association approval required; Association amenities include clubhouse, pool, tennis and pickleball courts, trails, recreation facilities, maintenance, management, trash service, community mailbox, sidewalks, and street lights; Buyer approval required; Pets allowed (max 25 lbs)

Exterior

• Parking: Guest parking
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Broadband/high-speed internet available; Sewer connected; Water connected
• Home design: Residential condominium; Two stories; Faces east; Completed condition; PUD zoning
• Construction: Wood siding; Membrane and shingle roof; Slab foundation; Built as part of Building 10
• Exterior features: Covered, screened rear porch; Porch; Sliding doors; Near public transit; Sidewalk; Paved road

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating; Central air
• Interior features: Living room/dining room combo; Solid surface counters; Thermostat; Blinds; Sliding doors; Inside utility
• Laundry & utility: Washer hookup; Dryer hookup (electric); Laundry closet; Laundry located on upper level; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $27 ($330/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 3.6% 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: Highlands Elementary School (math 55% / reading 59%, grade C+, #781 of 2,144 statewide, top 38%, 528 students, 60% 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); 285 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $933 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.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $135k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 6.54%
• Cash-on-cash: 0.87%
• DSCR: 1.04
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.58% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.50×
• Total profit: $-18,754
• Equity at exit: $20,129

10-year hold

• IRR: -3.2%
• Equity multiple: 0.78×
• Total profit: $-8,410
• Equity at exit: $11,672

Cash invested: $37,800 (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 32708

• Rents YoY: 3.6%
• Active inventory: 285
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,804 high
• Mortgage (P&I): −$708
• Tax from tax record: −$187 /mo · $2,249/yr
• Insurance: −$56
• HOA: −$446
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $27

Break-even live

Break-even rent $1,769

Max offer price $135,000

Occupancy floor 93%

Sensitivity live

Price	-10% $104	-5% $66	+0% $27	+5% $-11	+10% $-49
Rent	-10% $-115	-5% $-44	+0% $27	+5% $99	+10% $170
Rate	-1.0pp $95	-0.5pp $62	base $27	+0.5pp $-8	+1.0pp $-43

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
429 Sheoah Blvd #9 Winter Springs, FL	3.0	2.0	1187	$1,900	$1.60	25d	1	0.04mi
220 Moree Loop #8 Winter Springs, FL	1.0	1.0	710	$1,295	$1.82	12d	1	0.06mi
80 Moree Loop #9 Winter Springs, FL	3.0	2.0	1187	$1,750	$1.47	17d	1	0.09mi
70 Moree Loop #63 Winter Springs, FL	2.0	1.5	1080	$1,400	$1.30	25d	1	0.10mi
533 Moree Loop Winter Springs, FL	2.0	2.5	1452	$2,300	$1.58	25d	1	0.14mi
300 Sheoah Blvd Winter Springs, FL	1.0–3.0	1.5–2.0	1183	$1,752	$1.48	3d	9	0.18mi
407 Sheoah Blvd #9 Winter Springs, FL	3.0	2.5	1400	$1,800	$1.29	25d	1	0.21mi
105 Keith Ct Winter Springs, FL	3.0	2.5	1457	$2,150	$1.48	3d	1	0.40mi
114 Cory Ln Winter Springs, FL	2.0	2.0	1090	$1,395	$1.28	16d	1	0.65mi
10 N Fairfax Ave Unit 10 Winter Springs, FL	2.0	1.5	907	$1,595	$1.76	12d	1	0.67mi
10 Sheoah Blvd #8 Winter Springs, FL	2.0	1.0	972	$1,650	$1.70	13d	1	0.67mi
317 San Gabriel St Winter Springs, FL	3.0	2.0	1100	$1,900	$1.73	25d	1	0.78mi
44 S Cortez Ave Winter Springs, FL	3.0	2.0	1320	$2,395	$1.81	3d	1	0.80mi
1 Laurel Oaks Dr Winter Springs, FL	1.0–3.0	1.0–2.0	1030	$1,548	$1.50	3d	31	0.80mi
420 San Gabriel St Winter Springs, FL	2.0	1.0	759	$1,700	$2.24	25d	1	0.83mi
542 Colonnades Cv Casselberry, FL	2.0	2.0	840	$1,775	$2.11	3d	1	0.87mi
216 Bennett St Winter Springs, FL	3.0	1.0	1120	$1,800	$1.61	25d	1	0.93mi
137 Garden Dr Winter Springs, FL	2.0	1.5	900	$1,595	$1.77	25d	1	0.93mi
133 Garden Dr Unit 1 Winter Springs, FL	2.0	1.5	900	$1,595	$1.77	25d	1	0.93mi
133 Garden Dr Winter Springs, FL	2.0	1.5	900	$1,595	$1.77	3d	1	0.93mi
945 Bryan Ct Longwood, FL	2.0	2.0	834	$1,650	$1.98	21d	1	0.97mi
912 Bryan Ct Longwood, FL	2.0	1.0	900	$1,675	$1.86	6d	1	1.03mi
109 N Alderwood St Winter Springs, FL	3.0	2.0	1458	$2,155	$1.48	16d	1	1.14mi
1450 Sunshadow Dr Casselberry, FL	1.0–2.0	1.0–2.0	865	$1,744	$2.02	3d	8	1.15mi
714 Eagle Ave Longwood, FL	3.0	2.0	1266	$2,285	$1.80	25d	1	1.16mi
213 S Moss Rd Unit 213 Winter Springs, FL	2.0	1.5	930	$1,495	$1.61	23d	1	1.22mi
213 S Moss Rd Winter Springs, FL	2.0	1.5	930	$1,495	$1.61	25d	1	1.22mi
509 East St Longwood, FL	3.0	2.0	1215	$1,940	$1.60	25d	1	1.25mi
963 N Wayman St Longwood, FL	3.0	2.0	1352	$2,050	$1.52	6d	1	1.27mi
564 N Wayman St Unit 564 Longwood, FL	2.0	1.0	800	$1,600	$2.00	6d	1	1.32mi
226 Panorama Dr Winter Springs, FL	3.0	2.0	1100	$1,750	$1.59	6d	1	1.33mi
118 Sundance Ct Winter Springs, FL	3.0	2.0	1161	$2,200	$1.89	13d	1	1.36mi
421 S Hawthorn Cir Winter Springs, FL	3.0	2.0	1052	$2,070	$1.97	6d	1	1.44mi
620 E Church Ave Longwood, FL	3.0	1.0	836	$1,795	$2.15	25d	1	1.45mi
404 Lancers Dr Winter Springs, FL	3.0	2.0	1406	$2,400	$1.71	16d	1	1.46mi
404 Lancers Dr Winter Springs, FL	3.0	2.0	1406	$2,400	$1.71	12d	1	1.46mi

HOA detail condo

• Monthly dues: $446 · $5,352/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-05-08
   status Pending
2. 2026-04-02
   status Active
3. 2026-04-02
   price $135,000
4. 2026-03-29
   status Pending
5. 2026-03-07
   price $145,000
6. 2026-02-11
   listed $155,000 Active
7. 1999-07-29
   soldstatus $48,900
8. 1991-05-01
   soldstatus $42,000
9. 1981-09-01
   soldstatus $50,000

ⓘ 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: $2,249 · $187/mo
• Projected year-2 tax: $2,249 · $187/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,647
• − Mortgage interest: −$7,562
• − Property taxes: −$2,249
• − Insurance: −$675
• − Repairs & maintenance: −$1,732
• − Management: −$1,732
• − HOA: −$5,352
• − Depreciation: −$3,927
• Taxable loss: −$1,582
• Est. tax savings @ 24.0%: +$380
• After-tax cash flow: $709/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: 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

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 · 436,154 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: 1023.0

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: —

Market trends

• HPI YoY: ▼ -188.76%
• Current HPI: 308.2797
• Rent YoY: ▲ 3.58%
• 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

+170.0% since first listed

9 events — show timeline

• 2026-05-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $135,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-07 Price Changed $145,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-11 Listed $155,000 Stellar MLS as Distributed by MLS Grid
• 1999-07-29 Sold (Public Records) $48,900 Public Records
• 1991-05-01 Sold (Public Records) $42,000 Public Records
• 1981-09-01 Sold (Public Records) $50,000 Public Records

Property tax history

+32.6%/yr

Latest (2025): $2,249 · +8.9% YoY. Source: county tax records.