103 Poinsettia · Leesburg, FL 34748

$105,000

2 bd · 2.0 ba · 1,370 sqft · Condo public records · 187 Days on market

Built 1980 $397/mo HOA · 20% of rent ↓ 23% since listing

---

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 +29.5/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

* NEW PRICE!!! * AFFORDABLE FLORIDA LIFESTYLE * BEAUTIFUL SETTING * BIG CLUBHOUSE WITH LOTS OF ACTIVITIES * You'll appreciate this will-maintained, move-in ready home on a nice corner lot. Step into the nice big Florida room with windows all around. You'll spend many hours here reading, doing hobbies and watching the world go by. The living room is very large with lots of light and continues to the dining room. Dining room features a built-in buffet wall for great storage. New hard surface flooring installed in 2024 goes throughout the house, for easy care. 2 big pantries in the kitchen let you store lots of goodies. The kitchen has a 2024 dishwasher and an access door to the carport for c

Key facts

• 2 big pantries
• Florida room
• Built-in buffet wall

Tags

• FLORIDA ROOM
• BUILT-IN BUFFET WALL
• 2 BIG PANTRIES
• ATTACHED BATH
• IRRIGATION SYSTEM
• ELECTRIC PANEL BOX

Property features AI

Finance

• Other: Unfurnished; Living area approximately 1,370 sq ft (source: public records); Building area approximately 2,051 sq ft (source: public records)
• Financial info: Total annual fees: $4,764; Total monthly fees: $397
• HOA & community: Has HOA (monthly fee required); Monthly HOA: $397; HOA includes 24-hour guard, cable TV, common area taxes, pool, grounds maintenance, management, private road, recreational facilities, sewer, water; Community amenities: Clubhouse, fitness center, pool, tennis courts, pickleball courts, gated community; Senior community; Pets not allowed

Exterior

• Parking: Carport (1 space)
• Security: Gated community with 24-hour guard (via HOA)
• Utilities: Private water; Private sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Manufactured home (double wide); One story; Northeast facing; Entry level: One
• Construction: Vinyl siding; Metal roof; Crawlspace foundation; Built in (manufactured home — year not provided)
• Exterior features: Rain gutters; Paved road access; Irrigation equipment; Lake access (Chain of Lakes)

Interior

• Kitchen: Built-in oven; Cooktop; Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Built-in features; Ceiling fans; Walk-in closets
• Laundry & utility: Washer; Dryer; Electric dryer hookup; Outside laundry area; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 4.4% in Leesburg — 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 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: Rents soft (-0.9%/yr); 797 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).
• This rent runs 40% of the median local income ($58k/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 $726 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $38k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• 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 $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.86% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.37%
• DSCR: 1.68
• GRM: 4.5

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: 1.4%
• Equity multiple: 1.05×
• Total profit: $1,537
• Equity at exit: $15,656

10-year hold

• IRR: 6.3%
• Equity multiple: 1.38×
• Total profit: $11,283
• Equity at exit: $9,078

Cash invested: $29,400 (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 34748

• Home prices YoY: -25.3%
• Rents YoY: -0.9%
• Active inventory: 797
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,958 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$178 /mo · $2,141/yr
• Insurance: −$44
• HOA: −$397
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $377

Break-even live

Break-even rent $1,481

Max offer price $105,000

Occupancy floor 76%

Sensitivity live

Price	-10% $436	-5% $406	+0% $377	+5% $347	+10% $317
Rent	-10% $222	-5% $299	+0% $377	+5% $454	+10% $531
Rate	-1.0pp $429	-0.5pp $403	base $377	+0.5pp $349	+1.0pp $322

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6015 Nightjar Ct Okahumpka, FL	3.0	2.0	1725	$2,495	$1.45	12d	1	0.54mi
5440 Rosewall Cir Leesburg, FL	2.0	2.0	1200	$1,950	$1.62	6d	1	1.35mi

HOA detail condo

• Monthly dues: $397 · $4,764/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $105,000 Active 187 DOM
2. 2026-06-18
   days on market $105,000 Active 184 DOM
3. 2026-06-17
   days on market $105,000 Active 183 DOM
4. 2026-06-16
   days on market $105,000 Active 182 DOM
5. 2026-06-15
   days on market $105,000 Active 181 DOM
6. 2026-06-13
   days on market $105,000 Active 179 DOM
7. 2026-06-09
   days on market $105,000 Active 175 DOM
8. 2026-06-08
   days on market $105,000 Active 174 DOM
9. 2026-06-07
   pricedays on market $105,000 Active 173 DOM
10. 2026-06-04
    days on market $115,000 Active 170 DOM
11. 2026-06-03
    days on market $115,000 Active 169 DOM
12. 2026-06-02
    days on market $115,000 Active 168 DOM
13. 2026-06-02
    days on market $115,000 Active 167 DOM
14. 2026-05-31
    days on market $115,000 Active 166 DOM
15. 2026-04-29
    price $115,000
16. 2026-03-11
    price $125,000
17. 2026-02-16
    price $129,900
18. 2025-12-29
    price $139,900
19. 2025-12-16
    listed $142,500 Active
20. 2025-10-31
    historical
21. 2025-10-10
    price $142,500
22. 2025-08-15
    price $145,900
23. 2025-06-25
    listed $149,900 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: $2,141 · $178/mo
• Projected year-2 tax: $2,141 · $178/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 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: $23,490
• − Mortgage interest: −$5,882
• − Property taxes: −$2,141
• − Insurance: −$525
• − Repairs & maintenance: −$1,879
• − Management: −$1,879
• − HOA: −$4,764
• − Depreciation: −$3,055
• Taxable income: $3,365
• Est. tax owed @ 24.0%: −$808
• After-tax cash flow: $3,712/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

• County: Lake County · 364,602 people
• City population: 1,142
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 48,095
• Household income: $58,192
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 1745.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 16% Hispanic / Latino 15% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 10% French/Haitian/Cajun 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: ▼ -88.97%
• Current HPI: 262.1766
• Rent YoY: ▼ -0.95%
• 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

-23.3% since first listed

9 events — show timeline

• 2026-04-29 Price Changed $115,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-11 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-16 Price Changed $129,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-29 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-16 Listed $142,500 Stellar MLS as Distributed by MLS Grid
• 2025-10-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-10 Price Changed $142,500 Stellar MLS as Distributed by MLS Grid
• 2025-08-15 Price Changed $145,900 Stellar MLS as Distributed by MLS Grid
• 2025-06-25 Listed $149,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+23.7%/yr

Latest (2025): $2,141 · +1.0% YoY. Source: county tax records.