1054 Joette Pl · Leesburg, FL 34762

$375,000

3 bd · 2.0 ba · 1,710 sqft · SingleFamily public records · 38 Days on market

Built 2023 6,317 sqft lot

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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).

• ARV discount +7.5/15.0
• Cash flow +7.2/30.0
• Appreciation +7.0/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0

Listing remarks

Under contract-accepting backup offers. I’m not just a house, I’m the one you’ve been waiting for. 3/2 * * WHISPER PINE FLOORPLAN * * with * * OPEN FLOOR PLAN * * and * * HIGH CEILINGS * * creating a bright, spacious feel. Features * * LVP FLOORING THROUGHOUT * * with * * CARPET IN THE BEDROOMS * * for comfort, plus convenient * * INTERIOR LAUNDRY * * . Step out to a * * LARGE LANAI FOR OUTDOOR LIVING * * , perfect for relaxing or entertaining. Welcome to * * THE VILLAGE OF LAKE DENHAM * * , where I sit on an * * OVERSIZED HOMESITE * * and show off light-filled living spaces designed for everyday ease. My kitchen is the heart of the home wi

Key facts

• Open floor plan
• Interior laundry
• High ceilings

Tags

• WHISPER PINE FLOORPLAN
• OPEN FLOOR PLAN
• HIGH CEILINGS
• LVP FLOORING THROUGHOUT
• CARPET IN THE BEDROOMS
• INTERIOR LAUNDRY

Property features AI

Finance

• Other: Public maintained paved road access; Directions: Meggison Road to Chandler Drive, left onto Joette
• HOA & community: Community features: Deed restrictions, dog park, golf, playground, pool, street lights; Senior community; Pets allowed with number limit; CDD present; Homestead present

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected; Underground utilities; Sprinkler recycled
• Home design: Single family residence; One level; Faces east; Residential property
• Construction: Vinyl siding and frame construction; Shingle roof; Slab foundation; Builder model: Whispering Pine; Built on a 0.14-acre lot
• Exterior features: Porch; Rear screened porch; Rain gutters; Irrigation equipment

Interior

• Kitchen: Dishwasher; Disposal; Ice maker; Microwave; Refrigerator; Tankless water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: High ceilings; Open floorplan; Split bedroom design; Walk-in closet(s); Window treatments
• Laundry & utility: Laundry room inside; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-516 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (24.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (21.2% below list).
• Recommended offer: $284k (24.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 62/100 on livability (#751 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D, amenities 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: 101 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($3k loan paydown + $15k appreciation (3.9% local appreciation)).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($364k) 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $283,776 (24.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 0.79% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.90%
• DSCR: 0.74
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.29×
• Total profit: $30,971
• Equity at exit: $188,278

10-year hold

• IRR: 7.7%
• Equity multiple: 2.28×
• Total profit: $134,710
• Equity at exit: $306,476

Cash invested: $105,000 (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 34762

• Home prices YoY: 1.1%
• Active inventory: 101
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,954 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$727 /mo · $8,728/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$620
• Net cashflow: $-516

Break-even live

Break-even rent $3,608

Max offer price $283,776

Occupancy floor —

Sensitivity live

Price	-10% $-304	-5% $-410	+0% $-516	+5% $-623	+10% $-729
Rent	-10% $-750	-5% $-633	+0% $-516	+5% $-400	+10% $-283
Rate	-1.0pp $-328	-0.5pp $-421	base $-516	+0.5pp $-614	+1.0pp $-712

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1393 Daniel Way The Villages, FL	3.0	2.0	1966	$4,000	$2.03	25d	1	0.57mi
7548 Kuenher Ct The Villages, FL	3.0	2.0	1440	$2,400	$1.67	25d	1	0.78mi
7181 Fay Ct The Villages, FL	2.0	2.0	1175	$4,800	$4.09	25d	1	0.81mi
7185 Denver Ave The Villages, FL	3.0	2.0	1440	$1,950	$1.35	25d	1	0.86mi

Listing history 9 events

1. 2026-06-09
   status $375,000 Pending 38 DOM
2. 2026-06-08
   days on market $375,000 Active 38 DOM
3. 2026-06-07
   days on market $375,000 Active 37 DOM
4. 2026-06-04
   days on market $375,000 Active 34 DOM
5. 2026-06-03
   days on market $375,000 Active 33 DOM
6. 2026-06-02
   days on market $375,000 Active 32 DOM
7. 2026-06-01
   days on market $375,000 Active 31 DOM
8. 2026-05-31
   days on market $375,000 Active 30 DOM
9. 2026-05-01
   listed $375,000 Active

ⓘ 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: $8,728 · $727/mo
• Projected year-2 tax: $8,728 · $727/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,448
• − Mortgage interest: −$21,006
• − Property taxes: −$8,728
• − Insurance: −$1,875
• − Repairs & maintenance: −$2,836
• − Management: −$2,836
• − Depreciation: −$10,909
• Taxable loss: −$12,741
• Est. tax savings @ 24.0%: +$3,058
• After-tax cash flow: $-3,139/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: 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 — Leesburg

• Score: 62/100
• State rank: #751
• US rank: #16429

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leesburg, FL
• City population: 70,232
• Population (ZIP): 580

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Two or more races 16% Black 12%
• Hispanic origin (detail): Cuban 13%
• Foreign-born: 13% · Canada
• Languages at home: 82% English-only · Spanish 18%

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: ▲ 3.92%
• Current HPI: 365.7475
• Rent YoY: —
• Metro: —
• 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

• 2026-05-01 Listed $375,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+32.6%/yr

Latest (2025): $8,728 · +2.5% YoY. Source: county tax records.