501 Lee St · Leesburg, FL 34748

$160,000

3 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 3 Days on market

Built 1953 0.37 ac lot Est $211k · 24% under

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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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.5/10.0
• 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

Under contract-accepting backup offers. INVESTOR SPECIAL! Great opportunity to transform this 3-bedroom, 2-bath home into a standout property. Situated on a spacious corner lot with mature shade trees, this home offers a solid start for your next renovation project. A brand-new roof was installed in 2026, providing a valuable head start on improvements. The interior has already been taken down to the studs in key areas, with demolition complete and the kitchen and bathrooms gutted, making it ready for your vision and design selections. Whether you're looking for a fix-and-flip, rental investment, or a custom renovation project, this property offers endless potential. Conveniently located in

Key facts

• Brand new roof
• Mature shade trees
• Corner lot

Tags

• CORNER LOT
• MATURE SHADE TREES
• BRAND NEW ROOF
• KITCHEN AND BATHROOMS GUTTED

Property features AI

Finance

• Other: Zoned R-1; Lot size about 0.37 acres
• Financial info: No lease restrictions; Property taxed (tax details not included)
• HOA & community: No HOA

Exterior

• Parking: Covered driveway parking; One-car carport
• Security: No security features listed
• Utilities: Public water; Public sewer; Cable available; Broadband/high-speed internet available
• Home design: Single-family residence; One story; Faces south; Fixer condition
• Construction: Brick construction; Shingle roof; Crawlspace foundation; Built area approx. 1,440 total; living area approx. 1,200
• Exterior features: Corner lot; Asphalt road access; Lot dimensions about 135 x 121

Interior

• Kitchen: No appliances listed
• Bedrooms: Three bedrooms
• Flooring: Wood flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric heating; Wall/window air conditioning units
• Interior features: No interior features listed
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (5.2% below list).
• Recommended offer: $152k (5.2% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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); 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) — zoned schools average 65% FRL vs 49% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 50% district-wide (-16 pts) — the specific schools serving this property underperform the Lake average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.9%/yr); 798 active listings in the ZIP; 36 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 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 $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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $57k; list at $160k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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 $151,750 (5.2% below list)

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
5. 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.
6. 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.
7. 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: 0.95% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.54%
• DSCR: 1.29
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $211,200
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 Lee St	0.05mi	3/1.0	1,265 (+5%)	9mo	$265,000	$209	78
911 Oak Dr	0.40mi	3/2.0	1,120 (-7%)	14mo	$167,937	$150	59
1016 Perkins St	0.57mi	3/1.5	1,137 (-5%)	6mo	$175,000	$154	58
1101 Mizell Rd	0.60mi	3/2.0	1,248 (+4%)	12mo	$220,000	$176	55
1200 Sunshine Ave	0.22mi	3/2.0	1,360 (+13%)	16mo	$133,273	$98	54
1404 High St	0.54mi	3/1.0	1,246 (+4%)	14mo	$164,000	$132	53
601 S 12th St	0.74mi	3/2.0	1,327 (+11%)	10mo	$240,000	$181	40
1110 Cedar St	0.71mi	2/1.5 (-1)	1,046 (-13%)	13mo	$235,000	$225	28

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: -9.3%
• Equity multiple: 0.67×
• Total profit: $-14,894
• Equity at exit: $23,857

10-year hold

• IRR: -4.0%
• Equity multiple: 0.77×
• Total profit: $-10,417
• Equity at exit: $13,834

Cash invested: $44,800 (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: 798
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,518 high
• Mortgage (P&I): −$839
• Tax from tax record: −$49 /mo · $587/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $244

Break-even live

Break-even rent $1,208

Max offer price $160,000

Occupancy floor 79%

Sensitivity live

Price	-10% $335	-5% $289	+0% $244	+5% $199	+10% $154
Rent	-10% $124	-5% $184	+0% $244	+5% $304	+10% $364
Rate	-1.0pp $325	-0.5pp $285	base $244	+0.5pp $203	+1.0pp $161

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
706 Lee St Apt B Leesburg, FL	2.0	1.0	860	$1,200	$1.40	25d	1	0.15mi
643 W Oak Terrace Dr Unit B1 Leesburg, FL	2.0	2.0	1089	$1,300	$1.19	25d	1	0.18mi
1112 W Main St Unit B-5 Leesburg, FL	2.0	2.0	1000	$1,450	$1.45	0d	1	0.41mi
200 S 11th St Leesburg, FL	2.0	2.0	1379	$1,675	$1.21	25d	1	0.51mi
200 S 11th St Unit 102 Leesburg, FL	2.0	2.5	1379	$1,675	$1.21	25d	1	0.51mi
301 S 11th St Leesburg, FL	2.0	1.0	816	$1,450	$1.78	25d	1	0.55mi
400 S 6th St Leesburg, FL	2.0	1.0	700	$1,250	$1.79	25d	1	0.64mi
425 S 9th St Leesburg, FL	2.0	1.0–2.0	911	$1,449	$1.59	0d	6	0.66mi
325 S 2nd St Unit 206 Leesburg, FL	2.0	2.0	1000	$1,700	$1.70	6d	1	0.69mi
1801 Center St Unit 2 Leesburg, FL	2.0	1.0	754	$1,300	$1.72	25d	1	0.81mi
913 Sumter St Unit 102 Leesburg, FL	2.0	2.0	1080	$1,395	$1.29	19d	1	0.82mi
1411 Hill St Leesburg, FL	2.0	1.0	1000	$1,150	$1.15	25d	1	0.83mi
1415 Hill St Leesburg, FL	2.0	1.0	1000	$1,150	$1.15	25d	1	0.83mi
1419 Hill St Leesburg, FL	2.0	1.0	840	$1,120	$1.33	25d	1	0.83mi
716 Marietta St Leesburg, FL	3.0	2.0	1250	$1,600	$1.28	25d	1	0.84mi
200 S Moss St Leesburg, FL	3.0	2.0	968	$1,500	$1.55	25d	1	0.85mi
1020 Birchwood Ct Unit 2 Leesburg, FL	2.0	1.0	1230	$1,250	$1.02	19d	1	0.90mi
1711 Birchwood Cir Unit 2 Leesburg, FL	2.0	1.0	770	$900	$1.17	25d	1	0.90mi
1220 W Dixie Ave Leesburg, FL	3.0	2.0	1304	$1,600	$1.23	6d	1	0.95mi
813 S 9th St Leesburg, FL	2.0	2.0	1400	$2,000	$1.43	25d	1	1.02mi
1009 McCormack St Leesburg, FL	2.0	1.0	1400	$1,025	$0.73	25d	1	1.02mi
1 Herald Dr Leesburg, FL	2.0	1.0–1.5	970	$1,524	$1.57	0d	3	1.04mi
1223 Pamela St Leesburg, FL	2.0	1.0	894	$1,399	$1.56	25d	1	1.05mi
1013 Beecher St Unit 1 Leesburg, FL	3.0	1.0	900	$1,250	$1.39	23d	1	1.08mi
1015 Beecher St Unit 1 Leesburg, FL	2.0	1.0	853	$1,100	$1.29	25d	1	1.10mi
210 N Lone Oak Dr Unit 1 Leesburg, FL	2.0	1.0	912	$1,250	$1.37	16d	1	1.16mi
1111 Tuskegee St Unit a Leesburg, FL	2.0	1.0	754	$1,095	$1.45	0d	1	1.26mi
1009 Nebraska St Leesburg, FL	3.0	1.0	864	$1,850	$2.14	14d	1	1.29mi
1175 Bentley Rd Leesburg, FL	2.0–3.0	1.0–1.5	938	$1,459	$1.56	4d	3	1.30mi
1197 Bentley Rd Leesburg, FL	2.0	1.5	938	$1,379	$1.47	25d	1	1.31mi
1187 Bentley Rd Unit 1 Leesburg, FL	3.0	1.0	909	$1,459	$1.61	5d	1	1.32mi
1604 Woodlyn Dr Leesburg, FL	3.0	1.5	1088	$1,500	$1.38	25d	1	1.39mi
904 S Lake St Leesburg, FL	1.0–3.0	1.0–2.0	1140	$2,239	$1.96	0d	41	1.39mi
1401 Floradel Ave Leesburg, FL	2.0	1.0	1190	$1,495	$1.26	5d	1	1.44mi
1001 Crawford St Leesburg, FL	3.0	1.0	800	$1,100	$1.38	13d	1	1.44mi
1001 Crawford St Unit 1 Leesburg, FL	3.0	1.0	800	$1,100	$1.38	16d	1	1.44mi

Listing history 5 events

1. 2026-06-17
   status $160,000 Pending 3 DOM
2. 2026-06-17
   days on market $160,000 Active 3 DOM
3. 2026-06-16
   days on market $160,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $160,000 Active 1 DOM

ⓘ 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: $587 · $49/mo
• Projected year-2 tax: $1,328 · $111/mo
• Expected delta: +$741/yr (+$62/mo · 126.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°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: $18,210
• − Mortgage interest: −$8,962
• − Property taxes: −$587
• − Insurance: −$800
• − Repairs & maintenance: −$1,457
• − Management: −$1,457
• − Depreciation: −$4,655
• Taxable income: $292
• Est. tax owed @ 24.0%: −$70
• After-tax cash flow: $2,860/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

+180.7% since first listed

3 events — show timeline

• 2026-06-14 Listed $160,000 Stellar MLS as Distributed by MLS Grid
• 1998-04-07 Sold (Public Records) $56,900 Public Records
• 1989-08-01 Sold (Public Records) $57,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $587 · +1.9% YoY. Source: county tax records.