110 Butler Cir · Lisbon, FL 34788

$55,000

2 bd · 2.0 ba · 1,250 sqft · Other · 37 Days on market

Built 1978 Good condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

110 Butler Circle Leesburg Florida 34788 House is located in Tara Village Asking $55,000 Very Spacious 2/2 bathroom. House is Freshly Painted! A/C Serviced with clean bill of Health Car Port Roof Sealed. No leaks Anywhere. 2 Temperature Controlled Lanai& apos; s. 2 Driveways Bring your Boat and Park at your house or at the dry/wet Docks All New Flooring and Carpet. Big Master bedroom and Bathroom Seller is Motivated. Big Master Bedroom and Bathroom 55+ Community Lots of Activities for Older Adults Lots Rent is $630 Includes Trash Garbage and Water Call or text: 3214058929

Key facts

• All new flooring
• 2 driveways
• Built 1978

Tags

• TEMPERATURE CONTROLLED LANAI'S
• 2 DRIVEWAYS
• ALL NEW FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $55k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 29.8% vs local median 5.5% in Lisbon — 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 65/100 on livability (#642 in FL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: schools 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.
• Market conditions: 285 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 41% of the median local income ($54k/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 $380 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 3.35% ✓
• Cap rate: 29.80%
• Cash-on-cash: 83.95%
• DSCR: 4.74
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 84.3%
• Equity multiple: 4.88×
• Total profit: $59,736
• Equity at exit: $8,201

10-year hold

• IRR: 87.6%
• Equity multiple: 10.12×
• Total profit: $140,491
• Equity at exit: $4,755

Cash invested: $15,400 (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 34788

• Home prices YoY: -18.2%
• Active inventory: 285
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,845 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $1,077

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 37%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 Woodland Dr Leesburg, FL	3.0	2.0	1372	$1,449	$1.06	23d	1	0.92mi
112 Crossways Dr Leesburg, FL	3.0	2.0	1200	$1,800	$1.50	4d	1	0.93mi
35 Aberdeen Cir Leesburg, FL	2.0	2.0	1072	$1,400	$1.31	23d	1	1.20mi
33670 Sky Blossom Cir Leesburg, FL	3.0	2.0	1540	$1,950	$1.27	23d	1	1.25mi
34000 Sky Blossom Cir Leesburg, FL	3.0	2.0	1540	$2,100	$1.36	23d	1	1.41mi
35689 Rose Moss Ave Leesburg, FL	3.0	2.0	1270	$1,800	$1.42	4d	1	1.43mi

Listing history 14 events

1. 2026-06-18
   days on market $55,000 Active 37 DOM
2. 2026-06-17
   days on market $55,000 Active 36 DOM
3. 2026-06-16
   days on market $55,000 Active 35 DOM
4. 2026-06-15
   days on market $55,000 Active 34 DOM
5. 2026-06-13
   days on market $55,000 Active 32 DOM
6. 2026-06-09
   days on market $55,000 Active 28 DOM
7. 2026-06-08
   days on market $55,000 Active 27 DOM
8. 2026-06-07
   days on market $55,000 Active 26 DOM
9. 2026-06-04
   days on market $55,000 Active 23 DOM
10. 2026-06-03
    days on market $55,000 Active 22 DOM
11. 2026-06-02
    days on market $55,000 Active 21 DOM
12. 2026-06-02
    days on market $55,000 Active 20 DOM
13. 2026-05-31
    days on market $55,000 Active 19 DOM
14. 2026-05-12
    listed $55,000 Active

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,139
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,771
• − Management: −$1,771
• − Depreciation: −$1,600
• Taxable income: $12,816
• Est. tax owed @ 24.0%: −$3,076
• After-tax cash flow: $9,853/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 · 1 photo

Good 80/100 Cosmetic rehab

This home is in good condition with a fresh paint job and new flooring. It has a good curb appeal and is located in a 55+ community with various amenities. Potential buyers and renters will appreciate the updates suggested to further enhance its value.

Value-add opportunities

• Both Paint the exterior walls — Painting the exterior walls can enhance the home's curb appeal and increase its value.
• Resale Upgrade the kitchen appliances — Upgrading the kitchen appliances can make the home more appealing to potential buyers.
• Rental Install smart home features — Adding smart home features can attract renters who value convenience and technology.
• Both Add a smart thermostat — A smart thermostat can improve energy efficiency and comfort, making the home more attractive to both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior walls — Painting the exterior walls can enhance the home's curb appeal and increase its value. ↑
• Resale Upgrade the kitchen appliances — Upgrading the kitchen appliances can make the home more appealing to potential buyers. ↑
• Rental Install smart home features — Adding smart home features can attract renters who value convenience and technology. ↑
• Both Add a smart thermostat — A smart thermostat can improve energy efficiency and comfort, making the home more attractive to both buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Lisbon

• Score: 65/100
• State rank: #642
• US rank: #12649

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 364,602 people
• City population: 21,867
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 22,137
• Household income: $54,147
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 406.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 1% Tagalog/Filipino 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: ▼ -61.07%
• Current HPI: 273.6616
• Rent YoY: —
• 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

1 event — show timeline

• 2026-05-12 Listed $55,000 FSBO.com