835 Conroe St · Leesburg, FL 34762

$249,000

2 bd · 2.0 ba · 1,198 sqft · SingleFamily public records · 116 Days on market

Built 2023 3,600 sqft lot Est $268k · 7% under $204/mo HOA · 7% of rent ↓ 4% since listing

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Why this score? — see what drove the C 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 +16.1/30.0
• ARV discount +10.7/15.0
• Appreciation +7.0/10.0
• 1% rule +6.3/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Quick Close Available! Welcome to this two bedroom two bathroom Topaz patio villa with TWO car garage and rear privacy. As you approach this home take note of the landscape with a decorative white fence. This nearly new home features a front screened lanai where you can enjoy morning coffee or visiting with friends or a side patio for enjoying the outdoor or grilling. As you enter this home take note of the open floor plan with vinyl flooring and volume ceilings. The kitchen area boasts of white cabinetry with stainless appliances, island with sink, pantry, and desk area. This home also features interior laundry. The primary suite features ensuite bath with double sinks and walk-in closet.

Key facts

• Open floor plan
• Vinyl flooring
• Front screened lanai

Tags

• TOPAZ PATIO VILLA
• DECORATIVE WHITE FENCE
• FRONT SCREENED LANAI
• SIDE PATIO
• OPEN FLOOR PLAN
• VINYL FLOORING

Property features AI

Finance

• Other: Property is CDD subject
• Financial info: Lease restrictions apply
• HOA & community: HOA/Community fees approximately $204/month ($2,448 annually); Senior community

Exterior

• Parking: Attached 2-car garage (approximately 19x20)
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Residential villa; Single-story (one level); Faces south
• Construction: Vinyl siding with frame construction; Shingle roof; Slab foundation; Built on 0.08-acre lot
• Exterior features: Paved road access; Irrigation equipment; Community amenities include pool, tennis courts, dog park, community mailbox, golf cart friendly paths, and deed restrictions

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Open floorplan; Vaulted ceilings; Walk-in closets
• Laundry & utility: Washer; Dryer; Laundry area inside, located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $125 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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: crime 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: Leesburg Elementary School (math 31% / reading 32%, grade F, #1,841 of 2,144 statewide, top 86%, 822 students, 71% FRL); Oak Park Middle School (math 32% / reading 36%, grade F, #426 of 571 statewide, top 75%, 575 students, 70% FRL); Leesburg High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,641 students, 58% FRL) — zoned schools average 66% FRL vs 49% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 50% district-wide (-18 pts) — the specific schools serving this property underperform the Lake average; the district grade overstates school quality for this exact location.
• Market conditions: 101 active listings in the ZIP; 3 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).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $10k appreciation (3.9% local appreciation)).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.

Recommended offer $226,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.13% ✓
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $268,352
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1228 Lachapelle Ln	0.75mi	2/2.0	1,227 (+2%)	3mo	$275,000	$224	59

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

Projected returns pro-forma

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

5-year hold

• IRR: 12.0%
• Equity multiple: 1.72×
• Total profit: $50,527
• Equity at exit: $125,017

10-year hold

• IRR: 13.6%
• Equity multiple: 3.22×
• Total profit: $154,498
• Equity at exit: $203,500

Cash invested: $69,720 (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 34762

• Home prices YoY: 1.1%
• Active inventory: 101
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,808 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$480 /mo · $5,756/yr
• Insurance: −$104
• HOA: −$204
• Vacancy / Maint / Mgmt: −$590
• Net cashflow: $125

Break-even live

Break-even rent $2,650

Max offer price $249,000

Occupancy floor 91%

Sensitivity live

Price	-10% $266	-5% $196	+0% $125	+5% $55	+10% $-16
Rent	-10% $-96	-5% $14	+0% $125	+5% $236	+10% $347
Rate	-1.0pp $251	-0.5pp $189	base $125	+0.5pp $61	+1.0pp $-5

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7548 Kuenher Ct The Villages, FL	3.0	2.0	1440	$2,400	$1.67	25d	1	0.33mi
7181 Fay Ct The Villages, FL	2.0	2.0	1175	$4,800	$4.09	25d	1	1.22mi
7185 Denver Ave The Villages, FL	3.0	2.0	1440	$1,950	$1.35	25d	1	1.27mi

HOA detail

• Monthly dues: $204 · $2,448/yr

Listing history 16 events

1. 2026-06-21
   days on market $249,000 Active 116 DOM
2. 2026-06-18
   days on market $249,000 Active 113 DOM
3. 2026-06-17
   days on market $249,000 Active 112 DOM
4. 2026-06-16
   days on market $249,000 Active 111 DOM
5. 2026-06-15
   days on market $249,000 Active 110 DOM
6. 2026-06-13
   days on market $249,000 Active 108 DOM
7. 2026-06-09
   days on market $249,000 Active 104 DOM
8. 2026-06-08
   days on market $249,000 Active 103 DOM
9. 2026-06-07
   days on market $249,000 Active 102 DOM
10. 2026-06-04
    days on market $249,000 Active 99 DOM
11. 2026-06-03
    days on market $249,000 Active 98 DOM
12. 2026-06-02
    days on market $249,000 Active 97 DOM
13. 2026-06-02
    days on market $249,000 Active 96 DOM
14. 2026-05-31
    days on market $249,000 Active 95 DOM
15. 2026-04-28
    price $249,000
16. 2026-02-25
    listed $259,900 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: $5,756 · $480/mo
• Projected year-2 tax: $5,756 · $480/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $33,701
• − Mortgage interest: −$13,948
• − Property taxes: −$5,756
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,696
• − Management: −$2,696
• − HOA: −$2,448
• − Depreciation: −$7,244
• Taxable loss: −$2,332
• Est. tax savings @ 24.0%: +$560
• After-tax cash flow: $2,065/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

-4.2% since first listed

2 events — show timeline

• 2026-04-28 Price Changed $249,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-25 Listed $259,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2025): $5,756 · +3.2% YoY. Source: county tax records.