24021 Armadillo Rd · Astor, FL 32102

$140,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 49 Days on market

Built 1986 0.34 ac lot Est $253k · 45% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.0/10.0
• Schools +4.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

LOCATED CLOSE TO THE RIVER, THIS BANK OWNED PROPERTY HAS A LOT OF POTENTIAL WITH THE DETACHED GARAGE / WORKSHOP, OVERSIZED LOT, FENCED IN YARD AND BONUS ROOM JUST TO NAME A FEW OF THE AMENITIES. GREAT VALUE. . CALL TODAY!!

Key facts

• Rear enclosed porch
• Oversized lot
• Fully fenced yard

Tags

• OVERSIZED LOT
• FULLY FENCED YARD
• FRONT SCREENED-IN PORCH
• REAR ENCLOSED PORCH
• DETACHED GARAGE
• EASY ACCESS TO BOATING

Property features AI

Finance

• Other: Zoned R-7; Lot size approximately 0.34 acres (about 1/4 to less than 1/2 acre)
• HOA & community: No association

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available; Phone available
• Home design: Manufactured double-wide home; Single-story (one level); Faces south
• Construction: Metal siding; Metal roof; Crawlspace foundation; Building area reported (total): 1926; Living area reported: 1456
• Exterior features: Private mailbox; Asphalt/paved road access; Lot dimensions approximately 150 x 100

Interior

• Kitchen: Range; Range hood; Refrigerator; Eat-in kitchen
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ductless heating; Wall/window air conditioning units
• Interior features: Ceiling fans; Eat-in kitchen; Formal dining area; Wood-burning fireplace in the living room
• Laundry & utility: Washer hookup; Electric dryer hookup; Dryer; Washer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $908 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#613 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• 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.
• Zoned schools: Umatilla Elementary School (math 59% / reading 56%, grade C+, #764 of 2,144 statewide, top 36%, 660 students, 55% FRL); Umatilla High School (math 24% / reading 29%, grade F, #489 of 667 statewide, top 74%, 861 students, 51% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: 77 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($968 loan paydown + $3k appreciation (1.9% local appreciation)).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $41k; list at $140k implies a 241% gain — meaningful room to come down on a strong offer.

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 $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.68% ✓
• Cap rate: 14.07%
• Cash-on-cash: 27.79%
• DSCR: 2.24
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $253,344
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24045 Fox Rd	0.24mi	3/2.0	1,394 (-4%)	6mo	$270,000	$194	77
23909 Deer Rd	0.19mi	3/2.0	1,248 (-14%)	11mo	$201,500	$161	59
55705 Keith St	0.61mi	2/2.5 (-1)	1,636 (+12%)	10mo	$285,000	$174	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.8%
• Equity multiple: 2.71×
• Total profit: $67,096
• Equity at exit: $54,849

10-year hold

• IRR: 33.2%
• Equity multiple: 5.28×
• Total profit: $167,780
• Equity at exit: $78,700

Cash invested: $39,200 (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 32102

• Home prices YoY: 0.8%
• Active inventory: 77
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,358 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$162 /mo · $1,949/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $908

Break-even live

Break-even rent $1,209

Max offer price $140,000

Occupancy floor 56%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55624 Sam St Astor, FL	2.0	2.0	1792	$2,225	$1.24	10d	1	0.56mi
56314 Blue Creek Rd Astor, FL	3.0	2.0	1248	$2,500	$2.00	17d	1	0.63mi

Listing history 19 events

1. 2026-06-18
   price $140,000 Active 49 DOM
2. 2026-06-18
   days on market $150,000 Active 49 DOM
3. 2026-06-17
   days on market $150,000 Active 48 DOM
4. 2026-06-16
   days on market $150,000 Active 47 DOM
5. 2026-06-15
   days on market $150,000 Active 46 DOM
6. 2026-06-13
   days on market $150,000 Active 44 DOM
7. 2026-06-09
   days on market $150,000 Active 40 DOM
8. 2026-06-08
   days on market $150,000 Active 39 DOM
9. 2026-06-07
   days on market $150,000 Active 38 DOM
10. 2026-06-04
    days on market $150,000 Active 35 DOM
11. 2026-06-03
    days on market $150,000 Active 34 DOM
12. 2026-06-02
    days on market $150,000 Active 33 DOM
13. 2026-06-01
    days on market $150,000 Active 32 DOM
14. 2026-05-31
    days on market $150,000 Active 31 DOM
15. 2026-04-30
    listed $150,000 Active
16. 2008-07-14
    soldstatus $41,000
17. 2008-07-03
    soldstatus $41,000 222-char remark

    Show marketing remark (222 chars)

    LOCATED CLOSE TO THE RIVER, THIS BANK OWNED PROPERTY HAS A LOT OF POTENTIAL WITH THE DETACHED GARAGE / WORKSHOP, OVERSIZED LOT, FENCED IN YARD AND BONUS ROOM JUST TO NAME A FEW OF THE AMENITIES. GREAT VALUE. . CALL TODAY!!

18. 2008-04-22
    listed $43,900 222-char remark

    Show marketing remark (222 chars)

    LOCATED CLOSE TO THE RIVER, THIS BANK OWNED PROPERTY HAS A LOT OF POTENTIAL WITH THE DETACHED GARAGE / WORKSHOP, OVERSIZED LOT, FENCED IN YARD AND BONUS ROOM JUST TO NAME A FEW OF THE AMENITIES. GREAT VALUE. . CALL TODAY!!

19. 2000-08-16
    soldstatus $66,300

ⓘ 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: $1,949 · $162/mo
• Projected year-2 tax: $1,949 · $162/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 9/10 Extreme 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,295
• − Mortgage interest: −$7,842
• − Property taxes: −$1,949
• − Insurance: −$700
• − Repairs & maintenance: −$2,264
• − Management: −$2,264
• − Depreciation: −$4,073
• Taxable income: $9,204
• Est. tax owed @ 24.0%: −$2,209
• After-tax cash flow: $8,685/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 — Astor

• Score: 66/100
• State rank: #613
• US rank: #11822

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Astor, FL
• Population (ZIP): 2,401

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 (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 9% Portuguese 8% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1% Russian/Polish/Slavic 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: ▲ 1.95%
• Current HPI: 232.7974
• 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

+126.2% since first listed

5 events — show timeline

• 2026-04-30 Listed $150,000 Stellar MLS as Distributed by MLS Grid
• 2008-07-14 Sold (Public Records) $41,000 Public Records
• 2008-07-03 Sold (MLS) $41,000 Stellar MLS as Distributed by MLS Grid
• 2008-04-22 Listed $43,900 Stellar MLS as Distributed by MLS Grid
• 2000-08-16 Sold (Public Records) $66,300 Public Records

Property tax history

+8.0%/yr

Latest (2025): $1,949 · +3.2% YoY. Source: county tax records.