33702 Verda Ave · Leesburg, FL 34788

$198,000

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 267 Days on market

Built 1983 0.33 ac lot

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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 +15.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Schools +4.2/10.0
• 1% rule +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

33702 Verda Ave, a charming 912 sq. ft. home nestled on a spacious 0.33-acre lot. "Zoning: R-6" This 2-bedroom, 1-bathroom property offers cozy living with plenty of room to grow. The generous lot provides endless opportunities—whether you envision creating a lush garden retreat, adding outdoor entertainment spaces, or expanding the home to suit your lifestyle. Perfect for downsizers, or investors, this home combines comfort, potential, and a peaceful setting—all at an incredible value. Note: buyers I emphasize the importance of conducting thorough due diligence to ensure that the property meets your expectations and requirements.

Key facts

• Spacious lot
• Lush garden retreat
• 0.33 acre lot

Tags

• SPACIOUS LOT
• OUTDOOR ENTERTAINMENT SPACES
• LUSH GARDEN RETREAT

Property features AI

Finance

• Other: Lot approximately 0.33 acre (120 x 120), paved road access; Zoned R-6

Exterior

• Parking: Attached garage (2 spaces)
• Utilities: Public water; Public sewer; Electricity available and connected
• Home design: Single-family residence; Residential property; One story; East-facing
• Construction: Frame construction; Shingle roof; Pillar/post/pier foundation; Built as one-level home
• Exterior features: Shade shutters

Interior

• Kitchen: No appliances listed
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floorplan; Kitchen and family room combined; Living room and dining room combined
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $198k.

Deal economics

• At list price, monthly cash flow is $93 ($1k/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 $166k (16.0% below list).
• Recommended offer: $166k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Treadway Elementary School (math 53% / reading 48%, grade D+, #1,055 of 2,144 statewide, top 50%, 879 students, 66% FRL); Tavares Middle School (math 43% / reading 40%, grade F, #348 of 571 statewide, top 62%, 1,070 students, 58% FRL); Tavares High School (math 32% / reading 40%, grade F, #359 of 667 statewide, top 55%, 1,507 students, 45% FRL).
• Market conditions: 288 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 37% of the median local income ($54k/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 267 days — a 12% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $95k; list at $198k implies a 108% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,322 (16.0% below list)

Questions for the listing agent

1. It's been on market 267 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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 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: 0.84% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.02%
• DSCR: 1.09
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $112,176
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 Hawaiian Way	0.60mi	2/2.0	896 (-2%)	19mo	$110,000	$123	50
11626 Fairmont Ave	0.52mi	3/2.0 (+1)	864 (-5%)	11mo	$55,000	$64	49
10830 Anna Belle Ave	0.56mi	3/2.0 (+1)	1,032 (+13%)	16mo	$220,000	$213	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-26,219
• Equity at exit: $29,522

10-year hold

• IRR: -4.2%
• Equity multiple: 0.72×
• Total profit: $-15,459
• Equity at exit: $17,119

Cash invested: $55,440 (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 34788

• Home prices YoY: -18.2%
• Active inventory: 288
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,663 medium
• Mortgage (P&I): −$1,038
• Tax from tax record: −$100 /mo · $1,200/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $93

Break-even live

Break-even rent $1,545

Max offer price $198,000

Occupancy floor 89%

Sensitivity live

Price	-10% $205	-5% $149	+0% $93	+5% $37	+10% $-19
Rent	-10% $-38	-5% $27	+0% $93	+5% $159	+10% $225
Rate	-1.0pp $193	-0.5pp $143	base $93	+0.5pp $42	+1.0pp $-10

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35 Aberdeen Cir Leesburg, FL	2.0	2.0	1072	$1,400	$1.31	25d	1	1.26mi

Listing history 18 events

1. 2026-06-21
   days on market $198,000 Active 267 DOM
2. 2026-06-18
   days on market $198,000 Active 264 DOM
3. 2026-06-17
   days on market $198,000 Active 263 DOM
4. 2026-06-16
   days on market $198,000 Active 262 DOM
5. 2026-06-15
   days on market $198,000 Active 261 DOM
6. 2026-06-13
   days on market $198,000 Active 259 DOM
7. 2026-06-09
   days on market $198,000 Active 255 DOM
8. 2026-06-08
   days on market $198,000 Active 254 DOM
9. 2026-06-07
   days on market $198,000 Active 253 DOM
10. 2026-06-04
    days on market $198,000 Active 250 DOM
11. 2026-06-03
    days on market $198,000 Active 249 DOM
12. 2026-06-02
    days on market $198,000 Active 248 DOM
13. 2026-06-02
    days on market $198,000 Active 247 DOM
14. 2026-05-31
    days on market $198,000 Active 246 DOM
15. 2026-04-30
    status Active
16. 2026-04-23
    historical
17. 2025-09-20
    listed $198,000 Active
18. 2011-03-09
    soldstatus $95,000

ⓘ 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: $1,200 · $100/mo
• Projected year-2 tax: $1,643 · $137/mo
• Expected delta: +$444/yr (+$37/mo · 37.0%)

ⓘ 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 3/10 Moderate
• 🌡 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: $19,959
• − Mortgage interest: −$11,091
• − Property taxes: −$1,200
• − Insurance: −$990
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$5,760
• Taxable loss: −$2,276
• Est. tax savings @ 24.0%: +$546
• After-tax cash flow: $1,664/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: 21,867
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 22,137
• Household income: $54,147
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 406.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 1% Tagalog/Filipino 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: ▼ -61.07%
• Current HPI: 273.6616
• Rent YoY: —
• 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

+108.4% since first listed

4 events — show timeline

• 2026-04-30 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-23 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-09-20 Listed $198,000 Stellar MLS as Distributed by MLS Grid
• 2011-03-09 Sold (Public Records) $95,000 Public Records

Property tax history

+9.5%/yr

Latest (2025): $1,200 · +2.6% YoY. Source: county tax records.