101 Tamarisk Way · Leesburg, FL 34748

$159,900

2 bd · 2.0 ba · 1,152 sqft · Condo public records · 16 Days on market

Built 1973 $397/mo HOA · 27% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.2/30.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

At last, the home you’ve been waiting for in Hawthorne at Leesburg! Situated on a premium corner lot, this beautifully maintained, tastefully furnished home offers fantastic lake views and exceptional value. Relax in the Florida room while enjoying peaceful water views and stunning sunsets from the comfort of your home. The spacious floor plan features a coastal-inspired primary suite with a walk-in closet and en-suite bath with a walk-in shower. A guest bedroom can easily serve as a home office or hobby room, and the guest bath includes a tub for added convenience. The fully equipped kitchen offers a cooktop, microwave, double oven, ample cabinetry, and generous workspace. An in-home

Key facts

• Premium corner lot
• Lake views
• Florida room

Tags

• PREMIUM CORNER LOT
• LAKE VIEWS
• FLORIDA ROOM
• COASTAL INSPIRED PRIMARY SUITE
• WALK IN CLOSET
• EN SUITE BATH

Property features AI

Finance

• Other: Association has some fee requirements and optional additional fees
• Financial info: Total annual HOA/fees reported $4,764
• HOA & community: Part of Hawthorne Residents Cooperative Association (monthly fee $397); HOA fee includes cable TV, pool, maintenance of grounds, management, private road, recreational facilities, sewer and water; Community amenities: clubhouse, fitness center, pool, tennis and pickleball courts, shuffleboard, spa/hot tub, sauna, trails, storage, gated, wheelchair access, street lights, association recreation-owned; Senior community; Pets not allowed; Furnished

Exterior

• Parking: Has carport (1 space)
• Utilities: Private water; Private sewer; Electricity connected; Water connected; Sewer connected; Cable connected; BB/HS internet available; Underground utilities; Fire hydrant nearby
• Home design: Residential mobile home (double wide); One level; East-facing
• Construction: Metal frame and wood frame construction with vinyl siding; Roof over; Crawlspace foundation; Built in public records: 1,152 living area (square feet)
• Exterior features: Corner lot; Lighting; Private mailbox; Rain gutters; Sliding doors; Storage

Interior

• Kitchen: Built-in oven; Cooktop; Dishwasher; Microwave; Refrigerator; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate; Linoleum; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Ceiling fans; Eat-in kitchen; Living/Dining area; Thermostat; Walk-in closets; Window treatments; Double pane windows; Drapes; Shutters; Exhaust fan
• Laundry & utility: Washer and dryer included; Laundry closet; Laundry area inside (in kitchen)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-220 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (24.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (6.7% below list).
• Recommended offer: $121k (24.3% below list) — sets the bar for cash-flow.

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; 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

• It's been on market 16 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $58k; list at $160k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% 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 $121,066 (24.3% 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. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.93% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.89%
• DSCR: 0.74
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -30.8%
• Equity multiple: 0.02×
• Total profit: $-44,081
• Equity at exit: $23,842

10-year hold

• IRR: -62.0%
• Equity multiple: -0.62×
• Total profit: $-72,483
• Equity at exit: $13,825

Cash invested: $44,772 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,492 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$96 /mo · $1,153/yr
• Insurance: −$67
• HOA: −$397
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $-220

Break-even live

Break-even rent $1,770

Max offer price $121,066

Occupancy floor —

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $397 · $4,764/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $159,900 Active 16 DOM
2. 2026-06-17
   days on market $159,900 Active 15 DOM
3. 2026-06-16
   days on market $159,900 Active 14 DOM
4. 2026-06-15
   days on market $159,900 Active 13 DOM
5. 2026-06-13
   days on market $159,900 Active 11 DOM
6. 2026-06-09
   days on market $159,900 Active 7 DOM
7. 2026-06-08
   days on market $159,900 Active 6 DOM
8. 2026-06-07
   days on market $159,900 Active 5 DOM
9. 2026-06-04
   days on market $159,900 Active 2 DOM
10. 2026-06-02
    remarks 693-char remark
11. 2026-06-02
    listed $159,900 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: $1,153 · $96/mo
• Projected year-2 tax: $1,327 · $111/mo
• Expected delta: +$175/yr (+$15/mo · 15.1%)

ⓘ 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 3/10 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,899
• − Mortgage interest: −$8,957
• − Property taxes: −$1,153
• − Insurance: −$800
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − HOA: −$4,764
• − Depreciation: −$4,652
• Taxable loss: −$5,289
• Est. tax savings @ 24.0%: +$1,269
• After-tax cash flow: $-1,369/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

• 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

+178.1% since first listed

2 events — show timeline

• 2026-06-02 Listed $159,900 Stellar MLS as Distributed by MLS Grid
• 1996-12-01 Sold (Public Records) $57,500 Public Records

Property tax history

+5.3%/yr

Latest (2025): $1,153 · -7.5% YoY. Source: county tax records.