1503 Alby Dr Lot 70 · Apopka, FL 32712

$98,600

3 bd · 2.0 ba · 1,456 sqft · Manufactured · 35 Days on market

Built 2007 Good condition $850/mo HOA · 37% of rent

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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 +27.2/30.0
• 1% rule +10.0/10.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to comfortable and affordable Florida living in the desirable 55+ community of Palm Isle in Apopka! This well-maintained double-wide manufactured home is being offered fully furnished and is truly move-in ready. Featuring 3 bedrooms and 2 bathrooms, the spacious layout offers generous living and dining areas, a large kitchen with center island, abundant cabinetry, and plenty of storage throughout the home. The primary suite includes a private bathroom and ample closet space, while the additional bedrooms provide flexibility for guests, hobbies, or a home office. This home also includes a washer and dryer space, covered carport, storage shed/workshop, and a welcoming covered porch pe

Key facts

• Move-in ready
• Covered carport
• Abundant cabinetry

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• FULLY FURNISHED
• MOVE-IN READY
• ABUNDANT CABINETRY
• WASHER AND DRYER SPACE
• COVERED CARPORT

Property features AI

Finance

• Other: Lease restrictions apply
• Financial info: Total monthly fees $850 (total annual $10,200); Unit is furnished
• HOA & community: Has HOA (Kimola Hayden) with required approval for purchase; Monthly HOA fee of $850, covers pool and grounds maintenance; Community amenities include clubhouse and pool; On-site property manager; Senior community; Pets allowed

Exterior

• Parking: Carport with 2 spaces
• Security: Gated community
• Utilities: Public water; Public sewer; Electricity available; Water connected
• Home design: Manufactured double wide home; One story; Faces west; Entry level: 1
• Construction: Vinyl siding; Shingle roof; Crawlspace foundation; Other foundation
• Exterior features: Screened side porch; Shed(s); Cul-de-sac lot; Asphalt road surface

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Kitchen and family room combination; Living room and dining room combination; Storage
• Laundry & utility: Laundry room; Washer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $99k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.7% in Apopka — 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 66/100 on livability (#594 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+, employment B; Watch: schools D+, crime D-, amenities F.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-2.1%/yr); 662 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $682 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,642 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 2.33% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.32%
• DSCR: 1.55
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.85×
• Total profit: $-4,094
• Equity at exit: $14,702

10-year hold

• IRR: -3.0%
• Equity multiple: 0.85×
• Total profit: $-4,067
• Equity at exit: $8,525

Cash invested: $27,608 (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 32712

• Home prices YoY: -34.5%
• Rents YoY: -2.1%
• Active inventory: 662
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,297 high
• Mortgage (P&I): −$517
• Tax est. 1.5%: −$123 /mo · $1,479/yr
• Insurance: −$41
• HOA: −$850
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $284

Break-even live

Break-even rent $1,938

Max offer price $98,600

Occupancy floor 83%

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: $24,650
• Closing costs: $2,958
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
63 Jett Loop Apopka, FL	3.0	2.0	1463	$2,050	$1.40	2d	1	0.23mi
150 Knights Hollow Dr Apopka, FL	3.0	2.0	1817	$2,250	$1.24	17d	1	0.68mi
3 E Sandpiper St Apopka, FL	3.0	2.0	1414	$1,895	$1.34	23d	1	0.77mi
690 N Wells St Apopka, FL	4.0	2.0	1711	$2,285	$1.34	23d	1	1.02mi
1890 Needham Rd Apopka, FL	3.0	2.0	1537	$2,290	$1.49	17d	1	1.13mi
846 Grand Hughey Ct Apopka, FL	3.0	2.0	1651	$2,350	$1.42	4d	1	1.16mi
121 Summerset Dr Apopka, FL	3.0	2.0	1155	$1,971	$1.71	2d	1	1.17mi
574 Autumn Dr Apopka, FL	4.0	2.0	1525	$1,990	$1.30	23d	1	1.26mi
930 Loch Carron #1212 Apopka, FL	3.0	2.0	1457	$2,100	$1.44	4d	1	1.29mi
1270 Deer Lake Cir Apopka, FL	3.0	2.0	1781	$2,800	$1.57	16d	1	1.35mi
220 Bonnie Glen Ln Apopka, FL	3.0	2.0	1141	$2,175	$1.91	4d	1	1.37mi
1045 Palma Verde Pl Apopka, FL	3.0	2.5	1863	$2,200	$1.18	7d	1	1.38mi
1178 N Fairway Dr #1178 Apopka, FL	2.0	2.5	1184	$1,800	$1.52	4d	1	1.38mi
1236 N Fairway Dr Apopka, FL	3.0	2.5	1450	$2,600	$1.79	14d	1	1.41mi
1206 N Fairway Dr #1206 Apopka, FL	3.0	2.5	1470	$1,900	$1.29	14d	1	1.41mi
1123 Palma Verde Pl Apopka, FL	3.0	2.5	1644	$2,149	$1.31	4d	1	1.46mi
440 Breezeway Dr Apopka, FL	3.0	2.0	1148	$1,956	$1.70	21d	1	1.47mi
1148 Palma Verde Pl Apopka, FL	3.0	2.5	1658	$2,200	$1.33	7d	1	1.48mi
1152 Palma Verde Pl Apopka, FL	3.0	2.5	1667	$2,300	$1.38	23d	1	1.49mi

HOA detail

• Monthly dues: $850 · $10,200/yr

Listing history 15 events

1. 2026-06-18
   days on market $98,600 Active 35 DOM
2. 2026-06-17
   days on market $98,600 Active 34 DOM
3. 2026-06-16
   days on market $98,600 Active 33 DOM
4. 2026-06-15
   days on market $98,600 Active 32 DOM
5. 2026-06-13
   days on market $98,600 Active 30 DOM
6. 2026-06-13
   days on market $98,600 Active 29 DOM
7. 2026-06-09
   days on market $98,600 Active 26 DOM
8. 2026-06-08
   days on market $98,600 Active 25 DOM
9. 2026-06-07
   days on market $98,600 Active 24 DOM
10. 2026-06-04
    days on market $98,600 Active 21 DOM
11. 2026-06-03
    days on market $98,600 Active 20 DOM
12. 2026-06-02
    days on market $98,600 Active 19 DOM
13. 2026-06-01
    days on market $98,600 Active 18 DOM
14. 2026-05-31
    days on market $98,600 Active 17 DOM
15. 2026-05-14
    listed $98,600 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 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $27,569
• − Mortgage interest: −$5,523
• − Property taxes: −$1,479
• − Insurance: −$493
• − Repairs & maintenance: −$2,206
• − Management: −$2,206
• − HOA: −$10,200
• − Depreciation: −$2,868
• Taxable income: $2,594
• Est. tax owed @ 24.0%: −$623
• After-tax cash flow: $2,780/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 · 12 photos

Good 75/100 Cosmetic rehab

This move-in ready manufactured home in Palm Isle, Apopka, offers a good condition with minor repairs needed in the kitchen and bathrooms. Upgrades like fresh paint and new cabinets would significantly enhance its value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathroom fixtures — Dated appearance

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace kitchen cabinets — New cabinets improve functionality and aesthetics
• Both Replace bathroom fixtures — Modern fixtures enhance functionality and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathroom fixtures · Dated appearance	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen cabinets — New cabinets improve functionality and aesthetics ↑
• Both Replace bathroom fixtures — Modern fixtures enhance functionality and appeal ↑

ⓘ 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: Orange
• NCES district ID: 1201440
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $49,350
• Composite: 41.47/100
• National rank: #3461
• State rank: #43 of 73 in FL

Livability — Apopka

• Score: 66/100
• State rank: #594
• US rank: #11020

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Orange County · 1,471,359 people
• City population: 109,852
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 50,583
• Household income: $108,734
• Rent vs Own: 14.6% rent · 85.4% own
• Severe rent burden: 876.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 1,618,226 people
• By 2030: 1,787,404 · +10.5%
• By 2040: 2,125,621 · +31.4%
• By 2050: 2,454,016 · +51.6%
• By 2075: 3,173,711 · +96.1%
• By 2100: 3,607,781 · +122.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 48% Hispanic / Latino 26% Two or more races 19% Black 16% Asian 4%
• Hispanic origin (detail): Mexican 6% Puerto Rican 7% Cuban 2% Dominican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 19% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 21% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Orange

• 2024 margin: D (+13.6) · D 56.1% · R 42.5% · Other 1.3%
• 2008→2024 swing: -5.0pp toward R · 2008: 18.6pp · 2024: 13.6pp
• All cycles: 2024: D+13.6 2020: D+23.1 2016: D+24.6 2012: D+18.2 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -149.12%
• Current HPI: 283.4441
• Rent YoY: ▼ -2.09%
• 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

• 2026-05-14 Listed $98,600 Stellar MLS as Distributed by MLS Grid