3438 Banberry Cir #1790 · Zellwood, FL 32798

$155,000

2 bd · 2.0 ba · 1,493 sqft · Manufactured public records · 10 Days on market

Manufactured home Built 1984 6,027 sqft lot Est $166k · 6% under $238/mo HOA · 24% 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).

• ARV discount +10.4/15.0
• Appreciation +6.3/10.0
• Cash flow +5.2/30.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +0.0/10.0

Listing remarks

Land Owned! Spacious 2-bedroom, 2-bath home on an elevated lot over looking golf course. with over 1500 sq. ft. of living space in a desirable 55+ community This well maintained home features generously sized rooms and plenty of natural light. Some furnishings can stay, making it easy to move right in. While comfortable as-is, it offers an excellent opportunity for updating to suit your style - and is priced to sell quickly! Enjoy resort-style living with access to golf, clubhouse, restaurant. Many activities and amenities, all in a beautifully landscaped neighborhood.

Key facts

• Natural light
• Elevated lot
• 6,027 sq ft lot

Tags

• ELEVATED LOT
• NATURAL LIGHT

Property features AI

Finance

• Other: Partially furnished; Lease restrictions apply
• Financial info: Total monthly fees $238 (total annual fees $2,856)
• HOA & community: Has HOA (monthly fee $238); Association requires approval; Association amenities include clubhouse, fitness center, pool, tennis and pickleball courts, golf course access, spa/hot tub, sauna, recreation facilities, trails, cable TV, internet, gated entry, vehicle restrictions, and maintenance/management/trash services; Senior community; Community features include deed restrictions, community mailbox, street lights, and buyer approval required; Pets not allowed

Exterior

• Parking: Carport with 2 spaces
• Security: Gated community with 24-hour guard
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available and connected; Fiber optics; High-speed internet / BB/HS Internet available; Phone available; Sprinkler meter; Underground utilities; Water connected; Sewer connected; Fire hydrant
• Home design: Manufactured home (Double wide); One story; North-facing
• Construction: Metal siding; Vinyl siding; Shingle roof; Crawlspace foundation; Completed condition
• Exterior features: Covered screened patio/porch; Awnings; Storage; Shed(s); Workshop

Interior

• Kitchen: Dishwasher; Microwave; Range; Range hood; Refrigerator; Exhaust fan; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room/dining room combo; Thermostat; Walk-in closets; Skylights; Aluminum window frames; ENERGY STAR qualified windows; Insulated windows; Den/Library/Office
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $-351 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $93k (40.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (34.7% below list).
• Recommended offer: $93k (40.0% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 75/100 on livability (#248 in FL, #3,918 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute D-, health & safety D-.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Zellwood Elementary (math 38% / reading 40%, grade F, #1,560 of 2,144 statewide, top 73%, 493 students, 55% FRL); Wolf Lake Middle (math 57% / reading 52%, grade B-, #183 of 571 statewide, top 34%, 1,194 students, 45% FRL); Apopka High (math 19% / reading 47%, grade F, #406 of 667 statewide, top 61%, 3,507 students, 42% FRL).
• Market conditions: 104 active listings in the ZIP; 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.5% local appreciation)).
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $58k; list at $155k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,012 (40.0% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.65% ✗
• Cap rate: 3.58%
• Cash-on-cash: -9.70%
• DSCR: 0.57
• GRM: 12.8

CMA / ARV

• ARV (on-the-fly): $165,723
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3500 Blossom Cir #1497	0.13mi	2/2.0	1,656 (+11%)	2mo	$112,500	$68	75
3644 Parway Rd #1149	0.49mi	2/2.0	1,538 (+3%)	1mo	$235,000	$153	71
3749 Cohen Dr #720	0.38mi	2/2.0	1,602 (+7%)	13mo	$147,000	$92	59
3768 Diamond Oak Way #626	0.41mi	2/2.0	1,312 (-12%)	9mo	$145,200	$111	53

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

Projected returns pro-forma

2.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.82×
• Total profit: $-7,654
• Equity at exit: $65,395

10-year hold

• IRR: 1.5%
• Equity multiple: 1.21×
• Total profit: $9,313
• Equity at exit: $97,558

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 32798

• Home prices YoY: 1.0%
• Active inventory: 104
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $1,012 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$35 /mo · $421/yr
• Insurance: −$65
• HOA: −$238
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $-351

Break-even live

Break-even rent $1,456

Max offer price $93,012

Occupancy floor —

Sensitivity live

Price	-10% $-263	-5% $-307	+0% $-351	+5% $-395	+10% $-439
Rent	-10% $-431	-5% $-391	+0% $-351	+5% $-311	+10% $-271
Rate	-1.0pp $-273	-0.5pp $-311	base $-351	+0.5pp $-391	+1.0pp $-432

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: —

HOA detail

• Monthly dues: $238 · $2,856/yr

Listing history 8 events

1. 2026-06-22
   days on market $155,000 Active 10 DOM
2. 2026-06-21
   days on market $155,000 Active 9 DOM
3. 2026-06-18
   days on market $155,000 Active 6 DOM
4. 2026-06-17
   days on market $155,000 Active 5 DOM
5. 2026-06-16
   days on market $155,000 Active 4 DOM
6. 2026-06-15
   days on market $155,000 Active 3 DOM
7. 2026-06-13
   remarks 575-char remark
8. 2026-06-13
   listed $155,000 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: $421 · $35/mo
• Projected year-2 tax: $1,286 · $107/mo
• Expected delta: +$866/yr (+$72/mo · 205.6%)

ⓘ 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 · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,146
• − Mortgage interest: −$8,682
• − Property taxes: −$421
• − Insurance: −$775
• − Repairs & maintenance: −$972
• − Management: −$972
• − HOA: −$2,856
• − Depreciation: −$4,509
• Taxable loss: −$7,041
• Est. tax savings @ 24.0%: +$1,690
• After-tax cash flow: $-2,521/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: Orange
• NCES district ID: 1201440
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $49,350
• Composite: 41.47/100
• National rank: #3461
• State rank: #43 of 73 in FL

Livability — Zellwood

• Score: 75/100
• State rank: #248
• US rank: #3918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zellwood, FL
• City population: 2,159
• Population (ZIP): 2,159

Population outlook (Orange County) Hauer SSP2

• Today (2025): 1,618,226 people
• By 2030: 1,787,404 · +10.5%
• By 2040: 2,125,621 · +31.4%
• By 2050: 2,454,016 · +51.6%
• By 2075: 3,173,711 · +96.1%
• By 2100: 3,607,781 · +122.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Iranian 5% Lithuanian 5% Romanian 2%
• Foreign-born: 5%
• Languages at home: 89% English-only · Spanish 9% German/W. Germanic 3%

Political lean MEDSL · Orange

• 2024 margin: D (+13.6) · D 56.1% · R 42.5% · Other 1.3%
• 2008→2024 swing: -5.0pp toward R · 2008: 18.6pp · 2024: 13.6pp
• All cycles: 2024: D+13.6 2020: D+23.1 2016: D+24.6 2012: D+18.2 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.50%
• Current HPI: 254.7681
• 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

+158.3% since first listed

3 events — show timeline

• 2026-06-12 Listed $155,000 Stellar MLS as Distributed by MLS Grid
• 2015-03-04 Sold (Public Records) $58,000 Public Records
• 1985-04-01 Sold (Public Records) $60,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $421 · +2.2% YoY. Source: county tax records.