77 Majorca Dr #77 · Winter Springs, FL 32708

$135,500

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 107 Days on market

Built 2026

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

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. Outside, the property is complete with full professional landscaping, a shed with electricity for added storage or workspace, and a double tandem carport offe

Key facts

• Modern design
• Recessed lighting
• Crown molding

Tags

• MODERN DESIGN
• QUALITY CRAFTSMANSHIP
• RECESSED LIGHTING
• CROWN MOLDING
• LUXURY PLANK FLOORING
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Financial info: List price: 135,500

Exterior

• Utilities: Has heating
• Home design: Spec inventory — Plan name: The Riviera; Active listing
• Exterior features: Living area of 1,344 (listed)

Interior

• Bedrooms: 2 bedrooms
• Heating & cooling: Forced air heating
• Interior features: 2 total bathrooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $136k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $136k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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.
• Market conditions: Rents rising (+3.6%/yr); 274 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $937 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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Recommended offer $123,305 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.44% ✓
• Cap rate: 11.63%
• Cash-on-cash: 19.07%
• DSCR: 1.85
• GRM: 5.8

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: 11.6%
• Equity multiple: 1.46×
• Total profit: $17,621
• Equity at exit: $20,203

10-year hold

• IRR: 21.1%
• Equity multiple: 2.84×
• Total profit: $69,664
• Equity at exit: $11,716

Cash invested: $37,940 (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: 274
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,949 high
• Mortgage (P&I): −$711
• Tax est. 1.5%: −$169 /mo · $2,032/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $603

Break-even live

Break-even rent $1,185

Max offer price $135,500

Occupancy floor 64%

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: $33,875
• Closing costs: $4,065
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 Bennett St Winter Springs, FL	3.0	1.0	1120	$1,800	$1.61	24d	1	0.25mi
317 San Gabriel St Winter Springs, FL	3.0	2.0	1100	$1,900	$1.73	24d	1	0.33mi
114 Cory Ln Winter Springs, FL	2.0	2.0	1090	$1,395	$1.28	15d	1	0.41mi
133 Garden Dr Winter Springs, FL	2.0	1.5	900	$1,595	$1.77	2d	1	0.50mi
133 Garden Dr Unit 1 Winter Springs, FL	2.0	1.5	900	$1,595	$1.77	24d	1	0.50mi
137 Garden Dr Winter Springs, FL	2.0	1.5	900	$1,595	$1.77	24d	1	0.50mi
226 Panorama Dr Winter Springs, FL	3.0	2.0	1100	$1,750	$1.59	5d	1	0.52mi
10 N Fairfax Ave Unit 10 Winter Springs, FL	2.0	1.5	907	$1,595	$1.76	11d	1	0.56mi
213 S Moss Rd Unit 213 Winter Springs, FL	2.0	1.5	930	$1,495	$1.61	22d	1	0.56mi
213 S Moss Rd Winter Springs, FL	2.0	1.5	930	$1,495	$1.61	24d	1	0.56mi
200 Panorama Dr Winter Springs, FL	3.0	2.0	1600	$1,600	$1.00	15d	1	0.57mi
118 Sundance Ct Winter Springs, FL	3.0	2.0	1161	$2,200	$1.89	12d	1	0.58mi
404 Lancers Dr Winter Springs, FL	3.0	2.0	1406	$2,400	$1.71	11d	1	0.59mi
404 Lancers Dr Winter Springs, FL	3.0	2.0	1406	$2,400	$1.71	15d	1	0.59mi
109 N Alderwood St Winter Springs, FL	3.0	2.0	1458	$2,155	$1.48	15d	1	0.60mi
305 Cello Cir Winter Springs, FL	3.0	2.0	1308	$2,225	$1.70	12d	1	0.65mi
224 Bitterwood St Winter Springs, FL	3.0	2.0	1580	$2,399	$1.52	12d	1	0.71mi
337 Riunite Cir Winter Springs, FL	3.0	2.0	1500	$2,480	$1.65	11d	1	0.71mi
44 S Cortez Ave Winter Springs, FL	3.0	2.0	1320	$2,395	$1.81	3d	1	0.71mi
241 Holiday Ln Winter Springs, FL	3.0	2.0	1616	$2,590	$1.60	2d	1	0.83mi
105 Keith Ct Winter Springs, FL	3.0	2.5	1457	$2,150	$1.48	3d	1	0.88mi
10 Sheoah Blvd #8 Winter Springs, FL	2.0	1.0	972	$1,650	$1.70	12d	1	0.90mi
407 Sheoah Blvd #9 Winter Springs, FL	3.0	2.5	1400	$1,800	$1.29	24d	1	0.95mi
70 Moree Loop #63 Winter Springs, FL	2.0	1.5	1080	$1,400	$1.30	24d	1	1.03mi
80 Moree Loop #9 Winter Springs, FL	3.0	2.0	1187	$1,750	$1.47	16d	1	1.04mi
421 S Hawthorn Cir Winter Springs, FL	3.0	2.0	1052	$2,070	$1.97	5d	1	1.06mi
300 Sheoah Blvd Winter Springs, FL	1.0–3.0	1.5–2.0	1183	$1,752	$1.48	2d	9	1.09mi
429 Sheoah Blvd #9 Winter Springs, FL	3.0	2.0	1187	$1,900	$1.60	24d	1	1.10mi
533 Moree Loop Winter Springs, FL	2.0	2.5	1452	$2,300	$1.58	24d	1	1.17mi
618 Nighthawk Cir Winter Springs, FL	3.0	2.5	1771	$2,450	$1.38	24d	1	1.30mi
1 Laurel Oaks Dr Winter Springs, FL	1.0–3.0	1.0–2.0	1030	$1,548	$1.50	2d	31	1.38mi
661 Murphy Rd Winter Springs, FL	3.0	2.0	1320	$2,200	$1.67	24d	1	1.39mi

Listing history 13 events

1. 2026-06-18
   days on market $135,500 Active 107 DOM
2. 2026-06-17
   days on market $135,500 Active 106 DOM
3. 2026-06-16
   days on market $135,500 Active 105 DOM
4. 2026-06-15
   days on market $135,500 Active 104 DOM
5. 2026-06-13
   days on market $135,500 Active 102 DOM
6. 2026-06-09
   days on market $135,500 Active 98 DOM
7. 2026-06-08
   days on market $135,500 Active 97 DOM
8. 2026-06-07
   days on market $135,500 Active 96 DOM
9. 2026-06-04
   days on market $135,500 Active 93 DOM
10. 2026-06-03
    days on market $135,500 Active 92 DOM
11. 2026-06-02
    days on market $135,500 Active 91 DOM
12. 2026-06-02
    days on market $135,500 Active 90 DOM
13. 2026-05-31
    days on market $135,500 Active 89 DOM

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

Taxation est. · year 1

• Rental income: $23,383
• − Mortgage interest: −$7,590
• − Property taxes: −$2,032
• − Insurance: −$678
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$3,942
• Taxable income: $5,400
• Est. tax owed @ 24.0%: −$1,296
• After-tax cash flow: $5,940/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