966 Helmsley Ct #100 · Lake Mary, FL 32746

$189,900

3 bd · 2.0 ba · 1,142 sqft · Condo public records · 18 Days on market

Built 1985 $445/mo HOA · 22% 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 +12.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +5.1/10.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELL MAINTAINED 3 BD 2 BA 1st Floor Unit (Money Magazines # 4 Most Desirable City in America) Lake Mary Schools Walking Distance to Shopping, Banks, Food, Restaurants etc. Convenient to all Major Highway, Amusement Attractions.

Key facts

• Spacious kitchen
• Modern finishes
• First floor condo

Tags

• FIRST FLOOR CONDO
• SPACIOUS KITCHEN
• BREAKFAST BAR
• BEAUTIFULLY UPDATED BATHROOMS
• MODERN FINISHES
• WELL MAINTAINED CONDO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-44 ($-523/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (4.1% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $182k (4.1% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 3.3% in Lake Mary — 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 80/100 on livability (#128 in FL, #1,923 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: commute F, cost of living D-.
• Seminole (suburban): math 57% / reading 61% proficiency, ranked #13 of 73 in FL (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lake Mary Elementary School (math 66% / reading 66%, grade B+, #492 of 2,144 statewide, top 23%, 927 students, 49% FRL); Greenwood Lakes Middle School (math 49% / reading 55%, grade C+, #217 of 571 statewide, top 40%, 1,000 students, 63% FRL); Lake Mary High School (math 39% / reading 58%, grade D, #198 of 667 statewide, top 30%, 2,684 students, 42% FRL).
• Market conditions: Rents rising (+1.0%/yr); 322 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,979 units permitted in Seminole County in 2024 (1,191 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Seminole County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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 $150k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• 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 $182,203 (4.1% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.06% ✓
• Cap rate: 6.02%
• Cash-on-cash: -0.98%
• DSCR: 0.96
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.0% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.30×
• Total profit: $-37,301
• Equity at exit: $28,315

10-year hold

• IRR: -20.4%
• Equity multiple: 0.04×
• Total profit: $-50,825
• Equity at exit: $16,419

Cash invested: $53,172 (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 32746

• Home prices YoY: -21.9%
• Rents YoY: 1.0%
• Active inventory: 322
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,020 high
• Mortgage (P&I): −$996
• Tax from tax record: −$119 /mo · $1,432/yr
• Insurance: −$79
• HOA: −$445
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $-44

Break-even live

Break-even rent $2,075

Max offer price $182,203

Occupancy floor 97%

Sensitivity live

Price	-10% $64	-5% $10	+0% $-44	+5% $-97	+10% $-151
Rent	-10% $-203	-5% $-123	+0% $-44	+5% $36	+10% $116
Rate	-1.0pp $52	-0.5pp $5	base $-44	+0.5pp $-93	+1.0pp $-143

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
949 Bird Bay Ct #201 Lake Mary, FL	2.0	2.0	722	$1,599	$2.21	0d	1	0.07mi
938 Framlingham Ct #206 Lake Mary, FL	2.0	2.0	998	$1,750	$1.75	25d	1	0.13mi
937 Birmingham Ct Lake Mary, FL	3.0	2.0	1178	$2,050	$1.74	25d	1	0.19mi
1000 Regal Pointe Ter Lake Mary, FL	1.0–4.0	1.0–2.0	1002	$2,274	$2.27	0d	18	0.41mi
420 Sun Lake Cir Lake Mary, FL	1.0–3.0	1.0–2.0	949	$2,365	$2.49	0d	17	0.51mi
163 Villa Di Este Ter #209 Lake Mary, FL	2.0	2.0	1182	$1,870	$1.58	23d	1	0.60mi
1321 Arbor Vista Loop Lake Mary, FL	1.0–2.0	1.0–2.5	1096	$1,700	$1.55	25d	2	0.74mi
1321 Arbor Vista Loop Lake Mary, FL	1.0–2.0	1.0–2.5	1039	$1,700	$1.64	4d	2	0.74mi
114 Vista Verdi Cir #328 Lake Mary, FL	2.0	2.0	1398	$1,600	$1.14	25d	1	0.76mi
727 Sugar Bay Way #205 Lake Mary, FL	2.0	2.0	912	$1,650	$1.81	25d	1	0.79mi
780 Creekwater Ter Lake Mary, FL	1.0–3.0	1.0–2.0	957	$1,930	$2.02	25d	1	0.82mi
729 Secret Harbor Ln #201 Lake Mary, FL	2.0	2.0	947	$1,700	$1.80	25d	1	0.86mi
717 Secret Harbor Ln Lake Mary, FL	2.0	2.0	954	$1,599	$1.68	6d	1	0.91mi
901 Beresford Way Lake Mary, FL	3.0	2.0	1389	$2,495	$1.80	14d	1	0.97mi
2520 Grassy Point Dr Lake Mary, FL	3.0	2.0	1103	$1,800	$1.63	25d	1	0.98mi
2516 Grassy Point Dr #200 Lake Mary, FL	2.0	2.0	899	$2,095	$2.33	25d	1	1.01mi
542 Queensbridge Dr Lake Mary, FL	3.0	2.0	1408	$2,395	$1.70	25d	1	1.02mi
2504 Grassy Point Dr #214 Lake Mary, FL	2.0	2.0	899	$1,495	$1.66	16d	1	1.04mi
2504 Grassy Point Dr #204 Lake Mary, FL	2.0	2.0	899	$1,895	$2.11	25d	1	1.04mi
962 Bentstation Ln Lake Mary, FL	2.0	2.0	1184	$2,372	$2.00	0d	4	1.05mi
252 Wheelhouse Ln Lake Mary, FL	3.0	1.0–2.0	1043	$3,212	$3.08	0d	13	1.36mi
1567 Farrindon Cir Lake Mary, FL	2.0	2.0	1234	$1,995	$1.62	25d	1	1.39mi
451 Hamptoncrest Cir #307 Lake Mary, FL	3.0	2.0	1408	$2,295	$1.63	6d	1	1.50mi

HOA detail condo

• Monthly dues: $445 · $5,340/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-04-26
   status Pending
2. 2026-04-22
   status Active
3. 2026-02-27
   status Pending
4. 2026-02-13
   listed $189,900 Active
5. 2019-07-24
   soldstatus $150,000
6. 2019-07-22
   soldstatus $150,000 Sold 234-char remark

   Show marketing remark (234 chars)

   WELL MAINTAINED 3 BD 2 BA 1st Floor Unit (Money Magazines # 4 Most Desirable City in America) Lake Mary Schools Walking Distance to Shopping, Banks, Food, Restaurants etc. Convenient to all Major Highway, Amusement Attractions.

7. 2019-06-08
   status Pending 234-char remark

   Show marketing remark (234 chars)

   WELL MAINTAINED 3 BD 2 BA 1st Floor Unit (Money Magazines # 4 Most Desirable City in America) Lake Mary Schools Walking Distance to Shopping, Banks, Food, Restaurants etc. Convenient to all Major Highway, Amusement Attractions.

8. 2019-06-01
   listed $159,500 Active 234-char remark

   Show marketing remark (234 chars)

   WELL MAINTAINED 3 BD 2 BA 1st Floor Unit (Money Magazines # 4 Most Desirable City in America) Lake Mary Schools Walking Distance to Shopping, Banks, Food, Restaurants etc. Convenient to all Major Highway, Amusement Attractions.

9. 2008-07-31
   historical
10. 2007-10-22
    listed $130,000
11. 2004-10-08
    soldstatus $106,000
12. 1994-12-30
    soldstatus $55,900
13. 1991-05-01
    soldstatus $50,000
14. 1985-07-01
    soldstatus $59,400

ⓘ 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: $1,432 · $119/mo
• Projected year-2 tax: $1,576 · $131/mo
• Expected delta: +$144/yr (+$12/mo · 10.1%)

ⓘ 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 1/10 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: $24,239
• − Mortgage interest: −$10,637
• − Property taxes: −$1,432
• − Insurance: −$950
• − Repairs & maintenance: −$1,939
• − Management: −$1,939
• − HOA: −$5,340
• − Depreciation: −$5,524
• Taxable loss: −$3,522
• Est. tax savings @ 24.0%: +$845
• After-tax cash flow: $322/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: Seminole
• NCES district ID: 1201710
• Math proficiency: 57% ▼ -7.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $58,478
• Composite: 51.05/100
• National rank: #1769
• State rank: #13 of 73 in FL

Livability — Lake Mary

• Score: 80/100
• State rank: #128
• US rank: #1923

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Seminole County · 436,154 people
• City population: 46,684
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 46,684
• Household income: $104,775
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1929.0

Population outlook (Seminole County) Hauer SSP2

• Today (2025): 515,494 people
• By 2030: 545,713 · +5.9%
• By 2040: 598,068 · +16.0%
• By 2050: 640,663 · +24.3%
• By 2075: 724,461 · +40.5%
• By 2100: 755,530 · +46.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 64% Hispanic / Latino 17% Two or more races 11% Asian 9% Black 7%
• Hispanic origin (detail): Puerto Rican 7% Cuban 2% Dominican 2%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 18% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 5% Other Asian/Pacific 1%

Political lean MEDSL · Seminole

• 2024 margin: Toss-up / Even · D 47.6% · R 51.1% · Other 1.3%
• 2008→2024 swing: -0.8pp no change · 2008: -2.8pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.8 2016: R+1.6 2012: R+6.5 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.09%
• Current HPI: 274.7765
• Rent YoY: ▲ 1.00%
• 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

+219.7% since first listed

14 events — show timeline

• 2026-04-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-22 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-13 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2019-07-24 Sold (Public Records) $150,000 Public Records
• 2019-07-22 Sold (MLS) $150,000 Stellar MLS as Distributed by MLS Grid
• 2019-06-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-06-01 Listed $159,500 Stellar MLS as Distributed by MLS Grid
• 2008-07-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2007-10-22 Listed $130,000 Stellar MLS as Distributed by MLS Grid
• 2004-10-08 Sold (Public Records) $106,000 Public Records
• 1994-12-30 Sold (Public Records) $55,900 Public Records
• 1991-05-01 Sold (Public Records) $50,000 Public Records
• 1985-07-01 Sold (Public Records) $59,400 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,432 · +6.3% YoY. Source: county tax records.