2204 Suanee Ave · Eustis, FL 32726

$204,900

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 123 Days on market

Built 1963 6,448 sqft lot Est $250k · 18% under

---

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 +15.0/15.0
• Cash flow +12.1/30.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• Rent growth +3.3/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Are you ready to move into this affordable home in a growing neighborhood with two brand new homes next door and several more new ones just down the street. Home needs a little "TLC", but is in a spot well worth it! Eustis is a village with a sprawling water front and a downtown center lined with restaurants and boutique shops. A lovely waterfront boardwalk with views across the lake is one of the centerpices of the village. The newly completed State Route 453 Spur that connects the Eustis/Mt. Dora area to the completed Wekiva Parkway (SR 429) makes trips to the International Airports, Downtown Orlando, and the Theme Parks a quick trip of less than an hour. The Waterman Hospital (part of the Advent Health System) is located just up the road on SR 441 (The Orange Blossom Trail) in Tavares and offers a complete range of health services to the Community.

Key facts

• Fully renovated
• Brand-new roof
• No hoa

Tags

• SPACE TO PARK
• MINUTES FROM LAKE EUSTIS
• NO HOA
• FULLY RENOVATED
• BRAND-NEW ROOF
• NEW AC

Property features AI

Finance

• Other: Property zoned RES; Lot approximately 0.19 acres (about 599 m²); Listed as unfurnished; Living area reported as 864 square feet (public records); Building area total reported as 992 square feet
• Financial info: No lease restrictions indicated
• HOA & community: No HOA association indicated; Pets allowed

Exterior

• Parking: Common parking; Off-street parking; Oversized parking
• Utilities: Public water; Septic tank; Electricity connected; Water connected/available; Sewer connected; Cable available; High‑speed internet available; Phone available
• Home design: Single family residence; Residential property; Fixer condition; One story; Faces north; Entry level: 1
• Construction: Frame construction; Shingle roof; Crawlspace foundation; Built area approximately 992 square feet
• Exterior features: Front porch; Deck; Private mailbox; Irrigation equipment; Located within city limits; Oversized lot; Asphalt road frontage; Publicly maintained road

Interior

• Kitchen: Dishwasher; Range hood; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; 6 total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup; Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-44 ($-533/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (22.3% below list).
• Recommended offer: $159k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.5% in Eustis — 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 73/100 on livability (#309 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, schools 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 rising (+3.2%/yr); 305 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 30% of the median local income ($63k/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 $6k 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 123 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 22y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $108k; list at $205k implies a 90% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,292 (22.3% 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. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $249,696
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 Cricket Hollow Ln	0.44mi	2/1.0	812 (-6%)	23mo	$235,000	$289	50

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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.38×
• Total profit: $-35,757
• Equity at exit: $30,551

10-year hold

• IRR: -9.5%
• Equity multiple: 0.41×
• Total profit: $-33,641
• Equity at exit: $17,716

Cash invested: $57,372 (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 32726

• Home prices YoY: -21.3%
• Rents YoY: 3.2%
• Active inventory: 305
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,593 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$143 /mo · $1,715/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-44

Break-even live

Break-even rent $1,649

Max offer price $197,052

Occupancy floor 98%

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2225 Grant Ave Eustis, FL	3.0	2.0	1050	$1,900	$1.81	24d	1	0.26mi
1147 E McDonald Ave Unit 201 Eustis, FL	1.0	1.0	720	$1,150	$1.60	24d	1	0.83mi
925 E McDonald Ave Eustis, FL	2.0	2.0	867	$1,550	$1.79	24d	1	0.93mi
617 Ohio Blvd Eustis, FL	2.0	1.0	840	$1,400	$1.67	3d	1	1.07mi
218 Floral Ave Apt 2 Eustis, FL	1.0	1.0	674	$895	$1.33	22d	1	1.28mi
204 E Gottsche Ave Eustis, FL	2.0	2.0	1125	$1,525	$1.36	24d	3	1.33mi
100 N Dewey St Eustis, FL	1.0	1.5	997	$1,450	$1.45	24d	1	1.35mi
623 N Bay St Unit 4 Eustis, FL	1.0	1.0	900	$1,150	$1.28	11d	1	1.43mi

Listing history 50 events

1. 2026-06-18
   days on market $204,900 Active 123 DOM
2. 2026-06-17
   days on market $204,900 Active 122 DOM
3. 2026-06-16
   days on market $204,900 Active 121 DOM
4. 2026-06-15
   days on market $204,900 Active 120 DOM
5. 2026-06-13
   days on market $204,900 Active 118 DOM
6. 2026-06-09
   days on market $204,900 Active 114 DOM
7. 2026-06-08
   days on market $204,900 Active 113 DOM
8. 2026-06-07
   days on market $204,900 Active 112 DOM
9. 2026-06-04
   days on market $204,900 Active 109 DOM
10. 2026-06-03
    days on market $204,900 Active 108 DOM
11. 2026-06-02
    days on market $204,900 Active 107 DOM
12. 2026-06-02
    days on market $204,900 Active 106 DOM
13. 2026-05-31
    days on market $204,900 Active 105 DOM
14. 2026-05-08
    status Active
15. 2026-05-05
    status Pending
16. 2026-03-27
    price $209,000
17. 2026-02-12
    listed $225,000 Active
18. 2026-01-08
    soldstatus $108,000
19. 2025-12-10
    soldstatus $92,500
20. 2025-12-04
    soldstatus $92,500 Closed 875-char remark

    Show marketing remark (875 chars)

    Are you ready to move into this affordable home in a growing neighborhood with two brand new homes next door and several more new ones just down the street. Home needs a little "TLC", but is in a spot well worth it! Eustis is a village with a sprawling water front and a downtown center lined with restaurants and boutique shops. A lovely waterfront boardwalk with views across the lake is one of the centerpices of the village. The newly completed State Route 453 Spur that connects the Eustis/Mt. Dora area to the completed Wekiva Parkway (SR 429) makes trips to the International Airports, Downtown Orlando, and the Theme Parks a quick trip of less than an hour. The Waterman Hospital (part of the Advent Health System) is located just up the road on SR 441 (The Orange Blossom Trail) in Tavares and offers a complete range of health services to the Community.

21. 2025-11-22
    status Pending 875-char remark

    Show marketing remark (875 chars)

    Are you ready to move into this affordable home in a growing neighborhood with two brand new homes next door and several more new ones just down the street. Home needs a little "TLC", but is in a spot well worth it! Eustis is a village with a sprawling water front and a downtown center lined with restaurants and boutique shops. A lovely waterfront boardwalk with views across the lake is one of the centerpices of the village. The newly completed State Route 453 Spur that connects the Eustis/Mt. Dora area to the completed Wekiva Parkway (SR 429) makes trips to the International Airports, Downtown Orlando, and the Theme Parks a quick trip of less than an hour. The Waterman Hospital (part of the Advent Health System) is located just up the road on SR 441 (The Orange Blossom Trail) in Tavares and offers a complete range of health services to the Community.

22. 2025-11-07
    listed $129,000 Active 875-char remark

    Show marketing remark (875 chars)

    Are you ready to move into this affordable home in a growing neighborhood with two brand new homes next door and several more new ones just down the street. Home needs a little "TLC", but is in a spot well worth it! Eustis is a village with a sprawling water front and a downtown center lined with restaurants and boutique shops. A lovely waterfront boardwalk with views across the lake is one of the centerpices of the village. The newly completed State Route 453 Spur that connects the Eustis/Mt. Dora area to the completed Wekiva Parkway (SR 429) makes trips to the International Airports, Downtown Orlando, and the Theme Parks a quick trip of less than an hour. The Waterman Hospital (part of the Advent Health System) is located just up the road on SR 441 (The Orange Blossom Trail) in Tavares and offers a complete range of health services to the Community.

23. 2025-07-28
    historical
24. 2025-01-17
    listed $119,000 Active
25. 2023-10-02
    status Active
26. 2023-10-02
    price $149,900
27. 2023-08-17
    price $139,900
28. 2023-07-31
    price $145,900
29. 2023-07-23
    price $147,900
30. 2023-06-23
    listed $149,900 Active
31. 2019-06-14
    historical
32. 2019-03-19
    price $78,900
33. 2019-03-19
    status Active
34. 2019-03-04
    historical
35. 2018-10-15
    price $65,900
36. 2018-06-15
    listed $69,900 Active
37. 2017-02-15
    historical
38. 2017-01-25
    price $49,900
39. 2016-10-25
    price $59,900
40. 2016-09-29
    status Active
41. 2016-09-24
    historical Contingent - Inspections
42. 2016-09-13
    price $69,900
43. 2016-08-16
    listed $79,000 Active
44. 2009-03-25
    soldstatus $15,000
45. 2009-02-03
    listed $19,900
46. 2008-07-31
    listed $40,000
47. 2004-10-26
    soldstatus $63,400
48. 2004-10-21
    soldstatus $63,388
49. 2004-09-23
    historical
50. 2004-06-28
    listed $59,800

ⓘ 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: $1,715 · $143/mo
• Projected year-2 tax: $1,715 · $143/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 · 20 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: $19,115
• − Mortgage interest: −$11,478
• − Property taxes: −$1,715
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$5,961
• Taxable loss: −$4,121
• Est. tax savings @ 24.0%: +$989
• After-tax cash flow: $456/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 — Eustis

• Score: 73/100
• State rank: #309
• US rank: #5286

Category grades

Amenities F Commute F Cost of living A+ Crime C+ 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: 24,715
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 24,715
• Household income: $63,152
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 584.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Black 19% Hispanic / Latino 17% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 4%
• Common ancestry: Hispanic 2% Romanian 2% Lithuanian 2%
• Foreign-born: 14% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 10% French/Haitian/Cajun 3% Other Indo-European 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: ▼ -88.12%
• Current HPI: 325.4692
• Rent YoY: ▲ 3.20%
• 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

+249.5% since first listed

37 events — show timeline

• 2026-05-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-27 Price Changed $209,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-12 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-08 Sold (Public Records) $108,000 Public Records
• 2025-12-10 Sold (Public Records) $92,500 Public Records
• 2025-12-04 Sold (MLS) $92,500 Stellar MLS as Distributed by MLS Grid
• 2025-11-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-11-07 Listed $129,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-01-17 Listed $119,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-10-02 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2023-08-17 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2023-07-31 Price Changed $145,900 Stellar MLS as Distributed by MLS Grid
• 2023-07-23 Price Changed $147,900 Stellar MLS as Distributed by MLS Grid
• 2023-06-23 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2019-06-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-03-19 Price Changed $78,900 Stellar MLS as Distributed by MLS Grid
• 2019-03-19 Relisted — Stellar MLS as Distributed by MLS Grid
• 2019-03-04 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-10-15 Price Changed $65,900 Stellar MLS as Distributed by MLS Grid
• 2018-06-15 Listed $69,900 Stellar MLS as Distributed by MLS Grid
• 2017-02-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-01-25 Price Changed $49,900 Stellar MLS as Distributed by MLS Grid
• 2016-10-25 Price Changed $59,900 Stellar MLS as Distributed by MLS Grid
• 2016-09-29 Relisted — Stellar MLS as Distributed by MLS Grid
• 2016-09-24 Contingent — Stellar MLS as Distributed by MLS Grid
• 2016-09-13 Price Changed $69,900 Stellar MLS as Distributed by MLS Grid
• 2016-08-16 Listed $79,000 Stellar MLS as Distributed by MLS Grid
• 2009-03-25 Sold (MLS) $15,000 Stellar MLS as Distributed by MLS Grid
• 2009-02-03 Listed $19,900 Stellar MLS as Distributed by MLS Grid
• 2008-07-31 Listed $40,000 Stellar MLS as Distributed by MLS Grid
• 2004-10-26 Sold (Public Records) $63,400 Public Records
• 2004-10-21 Sold (MLS) $63,388 Stellar MLS as Distributed by MLS Grid
• 2004-09-23 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2004-06-28 Listed $59,800 Stellar MLS as Distributed by MLS Grid

Property tax history

+11.3%/yr

Latest (2025): $1,715 · +3.1% YoY. Source: county tax records.