2353 W Coach N Four Dr · Leesburg, FL 34748

$149,000

2 bd · 2.0 ba · 1,196 sqft · Manufactured public records · 163 Days on market

Built 1990 6,693 sqft lot $51/mo HOA · 3% of rent

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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).

• Cash flow +18.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.2/10.0
• 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 MLS

CONTRACT PENDING. CURRENT BUYER HAS RIGHT OF FIRST REFUSAL. CONTINUE TO SHOW AND SUBMIT YOUR OFFERS. house is undercontract but still accepting offers. current buyer has right of first refusal.

Key facts

• 6,693 sq ft lot
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Senior community
• Financial info: Total monthly fees: $51.40; Total annual fees: $616.80; Lease restrictions apply
• HOA & community: HOA: Coachwood East/Donna Parish; Monthly HOA fee of $51.40; HOA requires approval and fees are required; Association amenities: Clubhouse, Pool, Shuffleboard court; common area taxes included; Association recreation owned; Deed restrictions; Golf carts allowed; Street lights; Pets allowed with size limit; Buyer approval required

Exterior

• Parking: Covered parking; 2-space carport
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Water connected; Sewer connected; Cable available; Underground utilities
• Home design: Manufactured home (double wide); Attached property; One story; North-facing entry
• Construction: Vinyl siding and frame construction; Shingle roof; Crawlspace foundation; Completed condition
• Exterior features: Corner lot; City limits; Key lot; Level lot; Near public transit; Paved; Mature landscaping; Irrigation equipment

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Gas water heater
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Florida room
• Laundry & utility: Washer; Dryer; Laundry area outside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $149k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.5% 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); 783 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 31% 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 $1k of loan paydown is wiped out by about $4k 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 163 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 $93k; list at $149k implies a 60% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.02% ✓
• Cap rate: 7.50%
• Cash-on-cash: 4.32%
• DSCR: 1.19
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $87,308
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
715 Surrey Pl	0.14mi	2/2.0	1,100 (-8%)	12mo	$80,000	$73	70

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.54×
• Total profit: $-19,009
• Equity at exit: $22,216

10-year hold

• IRR: -9.7%
• Equity multiple: 0.49×
• Total profit: $-21,342
• Equity at exit: $12,883

Cash invested: $41,720 (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: 783
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,524 high
• Mortgage (P&I): −$781
• Tax from tax record: −$159 /mo · $1,908/yr
• Insurance: −$62
• HOA: −$51
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $150

Break-even live

Break-even rent $1,334

Max offer price $149,000

Occupancy floor 85%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2602 Houston Pl Leesburg, FL	2.0	2.0	960	$1,895	$1.97	5d	1	0.22mi
822 S Lone Oak Dr Unit B Leesburg, FL	2.0	1.0	900	$1,195	$1.33	24d	1	0.27mi
513 Old Colony Rd Leesburg, FL	3.0	2.0	1198	$1,699	$1.42	5d	1	0.43mi
502 Old Colony Rd Leesburg, FL	3.0	2.0	1456	$1,299	$0.89	24d	1	0.44mi
1004 Royal Oak Blvd Unit 1004 Leesburg, FL	2.0	2.5	1244	$1,550	$1.25	4d	1	0.62mi
2920 Pecan Ave Leesburg, FL	2.0	2.5	1288	$1,700	$1.32	24d	1	0.64mi
2940 Peach St Leesburg, FL	2.0	2.5	1288	$1,750	$1.36	18d	1	0.68mi
210 N Lone Oak Dr Unit 1 Leesburg, FL	2.0	1.0	912	$1,250	$1.37	15d	1	0.78mi
1604 Woodlyn Dr Leesburg, FL	3.0	1.5	1088	$1,500	$1.38	24d	1	0.79mi
114 N Chester St Leesburg, FL	1.0	1.0	702	$850	$1.21	5d	1	0.80mi
200 S Moss St Leesburg, FL	3.0	2.0	968	$1,500	$1.55	24d	1	0.83mi
1317 Cambridge Dr Leesburg, FL	3.0	1.5	1240	$1,600	$1.29	24d	1	0.84mi
1801 Center St Unit 2 Leesburg, FL	2.0	1.0	754	$1,300	$1.72	24d	1	0.95mi
1220 W Dixie Ave Leesburg, FL	3.0	2.0	1304	$1,600	$1.23	5d	1	1.10mi
1401 Floradel Ave Leesburg, FL	2.0	1.0	1190	$1,495	$1.26	4d	1	1.24mi
1403 Old Harbor Blvd Leesburg, FL	1.0–4.0	1.0–3.0	1079	$1,366	$1.27	3d	9	1.31mi
1001 Crawford St Unit 1 Leesburg, FL	3.0	1.0	800	$1,100	$1.38	15d	1	1.31mi
1001 Crawford St Leesburg, FL	3.0	1.0	800	$1,100	$1.38	11d	1	1.31mi
301 S 11th St Leesburg, FL	2.0	1.0	816	$1,450	$1.78	24d	1	1.32mi
1009 Nebraska St Leesburg, FL	3.0	1.0	864	$1,850	$2.14	13d	1	1.32mi
716 Marietta St Leesburg, FL	3.0	2.0	1250	$1,600	$1.28	24d	1	1.32mi
200 S 11th St Unit 102 Leesburg, FL	2.0	2.5	1379	$1,675	$1.21	24d	1	1.36mi
200 S 11th St Leesburg, FL	2.0	2.0	1379	$1,675	$1.21	24d	1	1.36mi
1112 W Main St Unit B-5 Leesburg, FL	2.0	2.0	1000	$1,400	$1.40	24d	1	1.39mi
1013 Beecher St Unit 1 Leesburg, FL	3.0	1.0	900	$1,250	$1.39	22d	1	1.39mi
1015 Beecher St Unit 1 Leesburg, FL	2.0	1.0	853	$1,100	$1.29	24d	1	1.39mi
913 Sumter St Unit 102 Leesburg, FL	2.0	2.0	1080	$1,395	$1.29	18d	1	1.40mi
1009 McCormack St Leesburg, FL	2.0	1.0	1400	$1,025	$0.73	24d	1	1.40mi
813 S 9th St Leesburg, FL	2.0	2.0	1400	$2,000	$1.43	24d	1	1.49mi

HOA detail

• Monthly dues: $51 · $612/yr

Listing history 27 events

1. 2026-06-18
   days on market $149,000 Active 163 DOM
2. 2026-06-17
   days on market $149,000 Active 162 DOM
3. 2026-06-16
   days on market $149,000 Active 161 DOM
4. 2026-06-15
   days on market $149,000 Active 160 DOM
5. 2026-06-13
   days on market $149,000 Active 158 DOM
6. 2026-06-09
   days on market $149,000 Active 154 DOM
7. 2026-06-08
   days on market $149,000 Active 153 DOM
8. 2026-06-07
   pricedays on market $149,000 Active 152 DOM
9. 2026-06-04
   days on market $154,500 Active 149 DOM
10. 2026-06-03
    days on market $154,500 Active 148 DOM
11. 2026-06-02
    days on market $154,500 Active 147 DOM
12. 2026-06-02
    days on market $154,500 Active 146 DOM
13. 2026-05-31
    days on market $154,500 Active 145 DOM
14. 2026-01-06
    listed $154,500 Active
15. 2021-03-08
    historical
16. 2021-02-17
    price $94,900
17. 2021-01-11
    status Active
18. 2020-12-09
    status Pending
19. 2020-09-04
    listed $99,900 Active
20. 2007-03-07
    soldstatus $93,000
21. 2007-03-05
    soldstatus $93,000 193-char remark

    Show marketing remark (193 chars)

    CONTRACT PENDING. CURRENT BUYER HAS RIGHT OF FIRST REFUSAL. CONTINUE TO SHOW AND SUBMIT YOUR OFFERS. house is undercontract but still accepting offers. current buyer has right of first refusal.

22. 2006-12-13
    listed $95,000 193-char remark

    Show marketing remark (193 chars)

    CONTRACT PENDING. CURRENT BUYER HAS RIGHT OF FIRST REFUSAL. CONTINUE TO SHOW AND SUBMIT YOUR OFFERS. house is undercontract but still accepting offers. current buyer has right of first refusal.

23. 2004-11-22
    soldstatus $75,000
24. 2004-10-31
    soldstatus $75,000
25. 2004-08-05
    listed $79,900
26. 2001-06-22
    soldstatus $60,000
27. 1997-07-15
    soldstatus $57,000

ⓘ 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: $1,908 · $159/mo
• Projected year-2 tax: $1,908 · $159/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 2/10 Low
• 🌡 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: $18,283
• − Mortgage interest: −$8,346
• − Property taxes: −$1,908
• − Insurance: −$745
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − HOA: −$612
• − Depreciation: −$4,335
• Taxable loss: −$589
• Est. tax savings @ 24.0%: +$141
• After-tax cash flow: $1,943/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
• County: Lake County · 364,602 people
• City population: 70,232
• 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

+171.1% since first listed

14 events — show timeline

• 2026-01-06 Listed $154,500 Stellar MLS as Distributed by MLS Grid
• 2021-03-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-02-17 Price Changed $94,900 Stellar MLS as Distributed by MLS Grid
• 2021-01-11 Relisted — Stellar MLS as Distributed by MLS Grid
• 2020-12-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-09-04 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2007-03-07 Sold (Public Records) $93,000 Public Records
• 2007-03-05 Sold (MLS) $93,000 Stellar MLS as Distributed by MLS Grid
• 2006-12-13 Listed $95,000 Stellar MLS as Distributed by MLS Grid
• 2004-11-22 Sold (Public Records) $75,000 Public Records
• 2004-10-31 Sold (MLS) $75,000 Stellar MLS as Distributed by MLS Grid
• 2004-08-05 Listed $79,900 Stellar MLS as Distributed by MLS Grid
• 2001-06-22 Sold (Public Records) $60,000 Public Records
• 1997-07-15 Sold (Public Records) $57,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,908 · +3.7% YoY. Source: county tax records.