1003 Matthew Ave · Lady Lake, FL 32159

$219,000

2 bd · 2.0 ba · 1,191 sqft · Manufactured public records · 122 Days on market

Manufactured home Built 1986 5,400 sqft lot Est $155k · 41% over $204/mo HOA · 13% of rent

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Why this score? — see what drove the F 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 +6.3/30.0
• Schools +4.2/10.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +0.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

VILLAGE OF SILVER LAKE- Very nice 2/2 Marco. Transferrable Termite Bond; Murphy Bed; Extra Large Utility Shed, Vaulted Ceilings, No gray pipes, Built-In Features, Walk-In Closets; WOODEN Sun Deck. Monthly Amenities Fee $150. No Bond!

Key facts

• Granite countertops
• Center island
• Enclosed lanai

Tags

• REMODELED MANUFACTURED HOME
• LUXURY VINYL PLANK FLOORING
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• CENTER ISLAND
• ENCLOSED LANAI

Property features AI

Finance

• Other: Unit is unfurnished; CDD applicable; Living area reported as approximately 1,191 (public records); building area estimated at 1,580
• Financial info: Other annual assessment: $556; Annual taxes reported: $1,594; Total annual fees: $2,448; Lease restrictions apply
• HOA & community: Monthly maintenance fee: $204; Association amenities include gated entry, golf course access, pool, pickleball, racquetball, tennis courts, shuffleboard, trails, recreation facilities, park, and dog park; Golf carts allowed; Senior community; Pets allowed (cats and dogs)

Exterior

• Parking: Covered parking; Golf cart parking; 1-car carport
• Utilities: Public water; Public sewer; Electricity connected; Cable available; High‑speed internet available; Water connected
• Home design: Manufactured home (double wide); Single-story; Faces west; Completed condition
• Construction: Vinyl siding; Other roof type; Crawlspace foundation; Built on a 0.12-acre (approx. 60 x 90) lot
• Exterior features: Storage; Asphalt road frontage; Irrigation equipment

Interior

• Kitchen: Convection oven; Dishwasher; Disposal; Microwave; Refrigerator; Freezer; Stone counters
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Stone counters; Vaulted ceilings; Window treatments; Blinds; Double-pane windows
• Laundry & utility: Washer; Dryer; Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $219k.

Deal economics

• At list price, monthly cash flow is $-388 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (31.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (28.7% below list).
• Recommended offer: $150k (31.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 69/100 on livability (#457 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment 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.
• Zoned schools: The Villages Elementary of Lady Lake School (math 63% / reading 61%, grade B, #608 of 2,144 statewide, top 29%, 761 students, 61% FRL); Carver Middle School (math 41% / reading 41%, grade F, #353 of 571 statewide, top 63%, 837 students, 65% FRL); Leesburg High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,641 students, 58% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 589 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 32% of the median local income ($59k/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 $2k of loan paydown is wiped out by about $7k 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 122 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $170k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $150,377 (31.3% 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 122 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
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 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: 0.71% ✗
• Cap rate: 4.16%
• Cash-on-cash: -7.60%
• DSCR: 0.66
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $154,830
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1005 Matthew Ave	0.01mi	2/2.0	1,144 (-4%)	12mo	$165,000	$144	83
1004 Ann Ave	0.11mi	2/2.0	1,248 (+5%)	6mo	$80,000	$64	82
615 Tracy Dr	0.13mi	2/2.0	1,270 (+7%)	3mo	$197,500	$156	81
524 Bonita Dr	0.26mi	2/2.0	1,144 (-4%)	3mo	$176,000	$154	79
717 Truman Ave	0.38mi	2/2.0	1,152 (-3%)	10mo	$150,000	$130	69
1012 Parker Pl	0.38mi	2/2.0	1,144 (-4%)	10mo	$130,000	$114	68
1335 E Schwartz Blvd	0.51mi	2/2.0	1,342 (+13%)	6mo	$160,000	$119	50

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

Projected returns pro-forma

-3.0% appreciation · 4.03% rent growth · sell at horizon

5-year hold

• IRR: -28.3%
• Equity multiple: 0.05×
• Total profit: $-58,502
• Equity at exit: $32,654

10-year hold

• IRR: -23.4%
• Equity multiple: -0.23×
• Total profit: $-75,577
• Equity at exit: $18,935

Cash invested: $61,320 (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 32159

• Home prices YoY: -16.0%
• Rents YoY: 4.0%
• Active inventory: 589
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,563 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$179 /mo · $2,150/yr
• Insurance: −$91
• HOA: −$204
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $-388

Break-even live

Break-even rent $2,054

Max offer price $150,377

Occupancy floor —

Sensitivity live

Price	-10% $-264	-5% $-326	+0% $-388	+5% $-450	+10% $-512
Rent	-10% $-512	-5% $-450	+0% $-388	+5% $-327	+10% $-265
Rate	-1.0pp $-278	-0.5pp $-333	base $-388	+0.5pp $-445	+1.0pp $-503

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 Tarrson Blvd Unit 1525263P Lady Lake, FL	2.0	2.0	1011	$1,262	$1.25	14d	1	0.34mi
1222 Palmetto Dr Lady Lake, FL	2.0	2.0	1248	$1,700	$1.36	26d	1	0.40mi
1214 Dustin Dr Lady Lake, FL	2.0	2.0	1040	$1,400	$1.35	26d	1	0.41mi
715 Hudson Ln Lady Lake, FL	3.0	2.0	1392	$2,700	$1.94	26d	1	0.66mi
932 Chula Ct Lady Lake, FL	2.0	2.0	1346	$3,000	$2.23	5d	1	0.74mi
739 Heathrow Ave Lady Lake, FL	2.0	2.0	1040	$2,250	$2.16	4d	1	0.81mi
1540 Hillcrest Dr Lady Lake, FL	2.0	2.0	1200	$1,600	$1.33	26d	1	0.96mi
943 Mendoza Blvd Lady Lake, FL	2.0	2.0	1268	$5,800	$4.57	26d	1	0.98mi
1824 Marion County Rd Weirsdale, FL	2.0	2.0	1064	$1,500	$1.41	26d	1	1.14mi
1715 Pebble Beach Ln Lady Lake, FL	2.0	2.0	1040	$3,500	$3.37	26d	1	1.16mi
1304 Santa Rosa Ct Lady Lake, FL	2.0	2.0	1286	$4,500	$3.50	23d	1	1.18mi
1430 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1377	$2,500	$1.82	26d	1	1.20mi
716 Dominguez Dr Lady Lake, FL	2.0	2.0	1094	$2,450	$2.24	23d	1	1.20mi
628 Dominguez Dr Lady Lake, FL	2.0	2.0	1214	$2,245	$1.85	23d	1	1.25mi
323 Chula Vista Ave Lady Lake, FL	2.0	2.0	1486	$2,700	$1.82	26d	1	1.26mi
216 Magnolia Dr Lady Lake, FL	2.0–3.0	2.0	1248	$1,499	$1.20	5d	1	1.35mi
1532 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1092	$2,950	$2.70	26d	1	1.35mi
909 Orchid St Lady Lake, FL	2.0	1.0	936	$1,600	$1.71	26d	1	1.38mi
1330 La Jolla Cir The Villages, FL	2.0	2.0	1214	$3,000	$2.47	23d	1	1.40mi
1524 Martinez Dr Lady Lake, FL	2.0	2.0	1199	$2,095	$1.75	23d	1	1.47mi
423 Highway 466 Lady Lake, FL	1.0–3.0	1.0–2.0	1172	$1,569	$1.34	1d	21	1.49mi

HOA detail

• Monthly dues: $204 · $2,448/yr

Listing history 29 events

1. 2026-06-22
   days on market $219,000 Active 122 DOM
2. 2026-06-21
   days on market $219,000 Active 121 DOM
3. 2026-06-18
   days on market $219,000 Active 118 DOM
4. 2026-06-18
   price $219,000 Active 117 DOM
5. 2026-06-17
   days on market $224,000 Active 117 DOM
6. 2026-06-16
   days on market $224,000 Active 116 DOM
7. 2026-06-15
   days on market $224,000 Active 115 DOM
8. 2026-06-13
   days on market $224,000 Active 113 DOM
9. 2026-06-09
   days on market $224,000 Active 109 DOM
10. 2026-06-08
    days on market $224,000 Active 108 DOM
11. 2026-06-07
    days on market $224,000 Active 107 DOM
12. 2026-06-04
    days on market $224,000 Active 104 DOM
13. 2026-06-03
    days on market $224,000 Active 103 DOM
14. 2026-06-02
    days on market $224,000 Active 102 DOM
15. 2026-06-02
    days on market $224,000 Active 101 DOM
16. 2026-05-31
    days on market $224,000 Active 100 DOM
17. 2026-04-07
    price $224,000
18. 2026-02-21
    listed $228,000 Active
19. 2026-02-11
    historical
20. 2025-12-30
    status Active
21. 2025-12-30
    price $223,999
22. 2025-12-29
    historical
23. 2025-09-30
    listed $224,999 Active
24. 2021-08-24
    soldstatus $169,900
25. 2017-09-25
    soldstatus $118,000
26. 2017-09-21
    soldstatus $118,000 Sold 234-char remark

    Show marketing remark (234 chars)

    VILLAGE OF SILVER LAKE- Very nice 2/2 Marco. Transferrable Termite Bond; Murphy Bed; Extra Large Utility Shed, Vaulted Ceilings, No gray pipes, Built-In Features, Walk-In Closets; WOODEN Sun Deck. Monthly Amenities Fee $150. No Bond!

27. 2017-09-01
    listed $118,000 234-char remark

    Show marketing remark (234 chars)

    VILLAGE OF SILVER LAKE- Very nice 2/2 Marco. Transferrable Termite Bond; Murphy Bed; Extra Large Utility Shed, Vaulted Ceilings, No gray pipes, Built-In Features, Walk-In Closets; WOODEN Sun Deck. Monthly Amenities Fee $150. No Bond!

28. 2017-09-01
    historical 234-char remark

    Show marketing remark (234 chars)

    VILLAGE OF SILVER LAKE- Very nice 2/2 Marco. Transferrable Termite Bond; Murphy Bed; Extra Large Utility Shed, Vaulted Ceilings, No gray pipes, Built-In Features, Walk-In Closets; WOODEN Sun Deck. Monthly Amenities Fee $150. No Bond!

29. 2004-06-15
    soldstatus $92,000

ⓘ 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: $2,150 · $179/mo
• Projected year-2 tax: $2,150 · $179/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,750
• − Mortgage interest: −$12,267
• − Property taxes: −$2,150
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,500
• − Management: −$1,500
• − HOA: −$2,448
• − Depreciation: −$6,371
• Taxable loss: −$8,581
• Est. tax savings @ 24.0%: +$2,059
• After-tax cash flow: $-2,602/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 — Lady Lake

• Score: 69/100
• State rank: #457
• US rank: #8302

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lady Lake, FL
• County: Lake County · 364,602 people
• City population: 32,107
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 32,107
• Household income: $58,518
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 1047.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 6% Two or more races 5% Black 4% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1% Other Indo-European 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: ▼ -45.24%
• Current HPI: 237.6208
• Rent YoY: ▲ 4.03%
• 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

+143.5% since first listed

13 events — show timeline

• 2026-04-07 Price Changed $224,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-21 Listed $228,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-11 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-12-30 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-30 Price Changed $223,999 Stellar MLS as Distributed by MLS Grid
• 2025-12-29 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-09-30 Listed $224,999 Stellar MLS as Distributed by MLS Grid
• 2021-08-24 Sold (Public Records) $169,900 Public Records
• 2017-09-25 Sold (Public Records) $118,000 Public Records
• 2017-09-21 Sold (MLS) $118,000 Stellar MLS as Distributed by MLS Grid
• 2017-09-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-09-01 Listed $118,000 Stellar MLS as Distributed by MLS Grid
• 2004-06-15 Sold (Public Records) $92,000 Public Records

Property tax history

+14.5%/yr

Latest (2025): $2,150 · +15.7% YoY. Source: county tax records.