1923 Leesburg Blvd · Fruitland Park, FL 34731

$155,000

3 bd · 2.0 ba · 1,497 sqft · Manufactured public records · 40 Days on market

Built 1998 0.31 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

JUST MOVE IN-1997 Jacobeson M/H furnished, enclose 12x34 Fla. room, master bath w/ garden tub shower, double sinks. Shed, chain link fence, parking for 4 cars. Termite Sentricon pots in yard. Hot Tub can be purchased for 2,500.

Key facts

• Florida room
• Two-car carport
• Two storage sheds

Tags

• FLORIDA ROOM
• FULLY FENCED BACKYARD
• TWO STORAGE SHEDS
• TWO-CAR CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $602 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 4.0% in Fruitland Park — 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 70/100 on livability (#447 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A-; Watch: schools 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.
• Market conditions: 165 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 37% of the median local income ($66k/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 $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y 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 $75k; list at $155k implies a 107% 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 $150,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 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?
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: 1.33% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.65%
• DSCR: 1.74
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.8%
• Equity multiple: 1.31×
• Total profit: $13,247
• Equity at exit: $23,111

10-year hold

• IRR: 17.1%
• Equity multiple: 2.40×
• Total profit: $60,942
• Equity at exit: $13,402

Cash invested: $43,400 (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 34731

• Home prices YoY: -10.1%
• Active inventory: 165
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,059 high
• Mortgage (P&I): −$813
• Tax from tax record: −$147 /mo · $1,762/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $602

Break-even live

Break-even rent $1,297

Max offer price $155,000

Occupancy floor 66%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
307 Willard Ave Fruitland Park, FL	3.0	2.0	1796	$1,881	$1.05	12d	1	0.71mi
36338 W Spring Lake Blvd Fruitland Park, FL	3.0	2.5	1539	$2,100	$1.36	24d	1	0.90mi
1508 Spring Lake Cove Ln Fruitland Park, FL	2.0–3.0	1.0–2.0	971	$1,509	$1.55	2d	9	0.98mi
1639 Spring Lake Rd Fruitland Park, FL	3.0	2.0	1455	$1,995	$1.37	5d	1	1.06mi
1241 Atlantic Ave Fruitland Park, FL	3.0	2.0	1344	$2,100	$1.56	24d	1	1.21mi

Listing history 6 events

1. 2026-04-22
   status Pending
2. 2026-04-02
   price $155,000
3. 2026-03-13
   listed $160,000 Active
4. 2003-11-24
   soldstatus $75,000 227-char remark

   Show marketing remark (227 chars)

   JUST MOVE IN-1997 Jacobeson M/H furnished, enclose 12x34 Fla. room, master bath w/ garden tub shower, double sinks. Shed, chain link fence, parking for 4 cars. Termite Sentricon pots in yard. Hot Tub can be purchased for 2,500.

5. 2003-10-07
   listed $79,900 227-char remark

   Show marketing remark (227 chars)

   JUST MOVE IN-1997 Jacobeson M/H furnished, enclose 12x34 Fla. room, master bath w/ garden tub shower, double sinks. Shed, chain link fence, parking for 4 cars. Termite Sentricon pots in yard. Hot Tub can be purchased for 2,500.

6. 1993-04-19
   soldstatus $20,000

ⓘ 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: $1,762 · $147/mo
• Projected year-2 tax: $1,762 · $147/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 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,707
• − Mortgage interest: −$8,682
• − Property taxes: −$1,762
• − Insurance: −$775
• − Repairs & maintenance: −$1,977
• − Management: −$1,977
• − Depreciation: −$4,509
• Taxable income: $5,026
• Est. tax owed @ 24.0%: −$1,206
• After-tax cash flow: $6,022/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 — Fruitland Park

• Score: 70/100
• State rank: #447
• US rank: #8098

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 364,602 people
• City population: 12,196
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 12,196
• Household income: $66,300
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 269.0

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 (76%)
• Race & ethnicity: White 76% Black 11% Two or more races 11% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Serbian 2% Iranian 2%
• Foreign-born: 5% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 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: ▼ -35.91%
• Current HPI: 318.8206
• Rent YoY: —
• 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

+675.0% since first listed

6 events — show timeline

• 2026-04-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $155,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-13 Listed $160,000 Stellar MLS as Distributed by MLS Grid
• 2003-11-24 Sold (MLS) $75,000 Stellar MLS as Distributed by MLS Grid
• 2003-10-07 Listed $79,900 Stellar MLS as Distributed by MLS Grid
• 1993-04-19 Sold (Public Records) $20,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $1,762 · +3.5% YoY. Source: county tax records.