77 Majorca Dr #77 · Winter Springs, FL 32708

$135,500

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 162 Days on market

Manufactured home Built 2026 Excellent condition $101/sqft · 14% below area Est $158k · 14% under

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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 +22.3/30.0
• ARV discount +14.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• 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. -5.5

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
• Crown molding

Tags

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

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $136k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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); 370 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 76d 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 $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.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Recommended offer $119,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 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: 1.08% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $158,196
• List price: $135,500
• Delta: -14.35%
• Verdict: UNDERPRICED
• Comps: 8 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
239 Panorama Dr	0.45mi	3/2.0 (+1)	1,349 (+0%)	0mo	$330,000	$245	73
510 Green Spring Cir	0.29mi	2/2.5	1,180 (-12%)	0mo	$202,000	$171	64
339 Inglenook Cir	0.48mi	3/2.0 (+1)	1,437 (+7%)	0mo	$359,000	$250	61
314 San Gabriel St	0.34mi	3/2.0 (+1)	1,091 (-19%)	1mo	$274,000	$251	53
118 Deer Song Dr	0.45mi	3/2.0 (+1)	1,105 (-18%)	0mo	$175,000	$158	49
203 Sweetgum	0.86mi	3/2.0 (+1)	1,218 (-9%)	0mo	$380,000	$312	44
65 S Devon Ave	0.58mi	3/2.0 (+1)	1,075 (-20%)	1mo	$280,000	$260	42
307 Cello Cir	0.62mi	3/2.0 (+1)	1,551 (+15%)	0mo	$365,000	$235	41
71 Bombay Ave	0.75mi	2/2.0	1,134 (-16%)	0mo	$205,900	$182	40
1562 Grand Rue Dr	1.49mi	3/2.5 (+1)	1,498 (+12%)	0mo	$335,000	$224	39
328 Panama Cir	1.19mi	3/2.0 (+1)	1,107 (-18%)	0mo	$375,000	$339	35
821 Osceola Trl	1.48mi	3/2.0 (+1)	1,049 (-22%)	1mo	$310,000	$296	34

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-6,854
• Equity at exit: $20,203

10-year hold

• IRR: 5.5%
• Equity multiple: 1.42×
• Total profit: $16,009
• 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 →

Active competition Active MLS

• For sale now: 22 active
• Median asking: $135,500 ($101/sqft)
• Median days on market: 43 d
• This list price: 45% of active listings are priced below it
• ARV vs active asking: +16.5% 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: 370
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,468 high
• Mortgage (P&I): −$711
• Tax est. 1.5%: −$169 /mo · $2,032/yr
• Insurance: −$56
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $223

Break-even live

Break-even rent $1,185

Max offer price $135,500

Occupancy floor 80%

Sensitivity live

Price	-10% $317	-5% $270	+0% $223	+5% $176	+10% $130
Rent	-10% $107	-5% $165	+0% $223	+5% $281	+10% $339
Rate	-1.0pp $291	-0.5pp $258	base $223	+0.5pp $188	+1.0pp $152

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 Bennett St Winter Springs, FL	3.0	1.0	1120	$1,695	$1.51	82d	1	0.25mi
315 San Miguel St Winter Springs, FL	2.0	2.0	945	$1,650	$1.75	40d	1	0.29mi
404 San Gabriel St Winter Springs, FL	3.0	2.0	1089	$1,900	$1.74	76d	1	0.29mi
495 Green Spring Cir Winter Springs, FL	3.0	2.5	1375	$1,900	$1.38	84d	1	0.30mi
616 David St Winter Springs, FL	3.0	1.0	1108	$1,795	$1.62	10d	1	0.30mi
477 Green Spring Cir Winter Springs, FL	3.0	1.5	1280	$1,900	$1.48	7d	1	0.31mi
222 Albert St Winter Springs, FL	3.0	1.0	1087	$1,995	$1.84	75d	1	0.31mi
222 Albert St Winter Springs, FL	3.0	1.0	1087	$1,995	$1.84	40d	1	0.31mi
317 San Gabriel St Winter Springs, FL	3.0	2.0	1100	$1,900	$1.73	119d	1	0.33mi
130 Rhoden Ln Winter Springs, FL	2.0	1.5	896	$1,625	$1.81	43d	1	0.35mi
500 George St Winter Springs, FL	3.0	1.0	1123	$1,800	$1.60	43d	1	0.37mi
114 Cory Ln Winter Springs, FL	2.0	2.0	1090	$1,395	$1.28	110d	1	0.41mi
112 Cory Ln Winter Springs, FL	2.0	2.0	938	$1,350	$1.44	10d	1	0.41mi
101 Cory Ln Winter Springs, FL	2.0	2.0	938	$1,425	$1.52	70d	1	0.42mi
105 Cory Ln Winter Springs, FL	2.0	2.0	938	$1,325	$1.41	10d	1	0.42mi
526 Seasons Ct Winter Springs, FL	3.0	2.0	1161	$2,295	$1.98	30d	1	0.45mi
502 San Gabriel Ct Winter Springs, FL	3.0	2.0	1187	$2,050	$1.73	40d	1	0.47mi
502 San Gabriel Ct Winter Springs, FL	3.0	2.0	1187	$2,050	$1.73	24d	1	0.47mi
133 Garden Dr Unit 1 Winter Springs, FL	2.0	1.5	900	$1,495	$1.66	82d	1	0.50mi
133 Garden Dr Winter Springs, FL	2.0	1.5	900	$1,495	$1.66	83d	1	0.50mi
137 Garden Dr Winter Springs, FL	2.0	2.0	900	$1,515	$1.68	10d	1	0.50mi
137 Garden Dr Winter Springs, FL	2.0	1.5	900	$1,515	$1.68	94d	1	0.50mi
226 Panorama Dr Winter Springs, FL	3.0	2.0	1100	$1,750	$1.59	100d	1	0.52mi
119 Sundance Ct Winter Springs, FL	3.0	2.0	1161	$1,995	$1.72	4d	1	0.55mi
10 N Fairfax Ave Unit 10 Winter Springs, FL	2.0	1.5	907	$1,595	$1.76	106d	1	0.56mi
213 S Moss Rd Unit 213 Winter Springs, FL	2.0	1.5	930	$1,495	$1.61	117d	1	0.56mi
213 S Moss Rd Winter Springs, FL	2.0	1.5	930	$1,400	$1.51	60d	1	0.56mi
200 Panorama Dr Winter Springs, FL	3.0	2.0	1600	$1,600	$1.00	110d	1	0.57mi
614 Sailfish Rd Winter Springs, FL	3.0	2.0	1466	$2,195	$1.50	6d	1	0.58mi
118 Sundance Ct Winter Springs, FL	3.0	2.0	1161	$2,149	$1.85	94d	1	0.58mi
404 Lancers Dr Winter Springs, FL	3.0	2.0	1406	$2,400	$1.71	110d	1	0.59mi
404 Lancers Dr Winter Springs, FL	3.0	2.0	1406	$2,400	$1.71	106d	1	0.59mi
424 Lancers Dr Winter Springs, FL	3.0	2.0	1500	$2,460	$1.64	3d	1	0.59mi
109 N Alderwood St Winter Springs, FL	3.0	2.0	1458	$2,150	$1.47	88d	1	0.60mi
312 Riunite Cir Winter Springs, FL	3.0	2.0	1269	$2,140	$1.69	29d	1	0.64mi
305 Cello Cir Winter Springs, FL	3.0	2.0	1308	$2,225	$1.70	108d	1	0.65mi
224 Bitterwood St Winter Springs, FL	3.0	2.0	1580	$2,299	$1.46	94d	1	0.71mi
224 Bitterwood St Winter Springs, FL	3.0	2.0	1580	$2,299	$1.46	88d	1	0.71mi
337 Riunite Cir Winter Springs, FL	3.0	2.0	1500	$2,200	$1.47	74d	1	0.71mi
44 S Cortez Ave Winter Springs, FL	3.0	2.0	1320	$2,395	$1.81	98d	1	0.71mi

Property features AI

Finance

• Financial info: List price: 135,500

Exterior

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

Interior

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

Listing history 50 events

1. 2026-08-12
   days on market $135,500 Active 162 DOM
2. 2026-08-11
   days on market $135,500 Active 161 DOM
3. 2026-08-10
   days on market $135,500 Active 160 DOM
4. 2026-08-09
   days on market $135,500 Active 159 DOM
5. 2026-08-08
   days on market $135,500 Active 158 DOM
6. 2026-08-06
   days on market $135,500 Active 156 DOM
7. 2026-08-05
   days on market $135,500 Active 155 DOM
8. 2026-08-04
   days on market $135,500 Active 154 DOM
9. 2026-08-03
   days on market $135,500 Active 153 DOM
10. 2026-07-31
    days on market $135,500 Active 150 DOM
11. 2026-07-30
    days on market $135,500 Active 148 DOM
12. 2026-07-28
    days on market $135,500 Active 147 DOM
13. 2026-07-26
    days on market $135,500 Active 145 DOM
14. 2026-07-24
    days on market $135,500 Active 143 DOM
15. 2026-07-23
    days on market $135,500 Active 142 DOM
16. 2026-07-22
    days on market $135,500 Active 141 DOM
17. 2026-07-21
    days on market $135,500 Active 140 DOM
18. 2026-07-20
    days on market $135,500 Active 139 DOM
19. 2026-07-18
    days on market $135,500 Active 137 DOM
20. 2026-07-18
    days on market $135,500 Active 136 DOM
21. 2026-07-16
    days on market $135,500 Active 135 DOM
22. 2026-07-15
    days on market $135,500 Active 134 DOM
23. 2026-07-14
    days on market $135,500 Active 133 DOM
24. 2026-07-13
    days on market $135,500 Active 132 DOM
25. 2026-07-13
    days on market $135,500 Active 131 DOM
26. 2026-07-11
    days on market $135,500 Active 130 DOM
27. 2026-07-10
    days on market $135,500 Active 129 DOM
28. 2026-07-09
    days on market $135,500 Active 128 DOM
29. 2026-07-07
    days on market $135,500 Active 126 DOM
30. 2026-07-06
    days on market $135,500 Active 125 DOM
31. 2026-07-05
    days on market $135,500 Active 124 DOM
32. 2026-07-03
    days on market $135,500 Active 122 DOM
33. 2026-07-02
    days on market $135,500 Active 121 DOM
34. 2026-07-01
    days on market $135,500 Active 120 DOM
35. 2026-06-30
    days on market $135,500 Active 119 DOM
36. 2026-06-29
    days on market $135,500 Active 118 DOM
37. 2026-06-28
    days on market $135,500 Active 117 DOM
38. 2026-06-27
    days on market $135,500 Active 116 DOM
39. 2026-06-26
    days on market $135,500 Active 115 DOM
40. 2026-06-24
    days on market $135,500 Active 113 DOM
41. 2026-06-22
    days on market $135,500 Active 111 DOM
42. 2026-06-21
    days on market $135,500 Active 110 DOM
43. 2026-06-18
    days on market $135,500 Active 107 DOM
44. 2026-06-17
    days on market $135,500 Active 106 DOM
45. 2026-06-16
    days on market $135,500 Active 105 DOM
46. 2026-06-15
    days on market $135,500 Active 104 DOM
47. 2026-06-13
    days on market $135,500 Active 102 DOM
48. 2026-06-09
    days on market $135,500 Active 98 DOM
49. 2026-06-08
    days on market $135,500 Active 97 DOM
50. 2026-06-07
    days on market $135,500 Active 96 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: $17,615
• − Mortgage interest: −$7,590
• − Property taxes: −$2,032
• − Insurance: −$678
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − Depreciation: −$3,942
• Taxable income: $555
• Est. tax owed @ 24.0%: −$133
• After-tax cash flow: $2,546/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 · 3 photos

Excellent 95/100 None rehab

This brand-new 2026 manufactured home is in excellent condition with no visible repairs or maintenance needed. Professional landscaping and curb appeal improvements would further enhance its value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both Add a small outdoor seating area — Enhances outdoor living space and value ↑

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

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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%

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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%

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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

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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

Property features AI

Finance

• Financial info: List price: 135,500

Exterior

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

Interior

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