16141 3rd St · Eustis, FL 32784

$179,900

3 bd · 1.0 ba · 1,054 sqft · SingleFamily public records · 8 Days on market

Built 1925 10,096 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

" Short Sale". This could be a winter home for snowbirds. 2/1 home, fenced yard, carport, inside utility room, screened porch, newer A/C unit. Sold "As Is".

Key facts

• New kitchen
• New toilets
• New septic system

Tags

• NEW KITCHEN
• SHAKER CABINETS
• GRANITE COUNTERTOPS
• NEW VANITIES
• NEW TOILETS
• NEW SEPTIC SYSTEM

Property features AI

Finance

• Other: Zoned R-7; Residential single family property; Living area about 1,054 (public records); Total building area about 1,454 (public records)
• HOA & community: No HOA association indicated; Pets allowed

Exterior

• Parking: Carport (1 space)
• Utilities: Well water; Septic tank; Electricity connected
• Home design: Single family residence; One story; South-facing
• Construction: Vinyl siding with frame construction; Shingle roof; Other roof materials; Crawlspace foundation; Built on a 0.23-acre lot (approx. 75 x 140)
• Exterior features: Rain gutters; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room and dining room combined; Stone countertops; Thermostat
• Laundry & utility: Indoor laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $706 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 11.0% 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: 223 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).

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 22y ago 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 $24k; list at $180k implies a 650% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,900

Questions for the listing agent

1. Built in 1925 — 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. 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.
5. 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.
6. 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: 1.33% ✓
• Cap rate: 11.01%
• Cash-on-cash: 16.83%
• DSCR: 1.75
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $470,084
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16146 Wallace St	0.09mi	3/1.0	1,104 (+5%)	17mo	$165,000	$149	74
15816 Mullins Blvd	0.36mi	2/1.0 (-1)	897 (-15%)	1mo	$400,000	$446	52

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: 8.0%
• Equity multiple: 1.31×
• Total profit: $15,845
• Equity at exit: $26,824

10-year hold

• IRR: 17.3%
• Equity multiple: 2.42×
• Total profit: $71,746
• Equity at exit: $15,554

Cash invested: $50,372 (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 32784

• Home prices YoY: -8.5%
• Active inventory: 223
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$171 /mo · $2,054/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $706

Break-even live

Break-even rent $1,506

Max offer price $179,900

Occupancy floor 66%

Sensitivity live

Price	-10% $808	-5% $757	+0% $706	+5% $656	+10% $605
Rent	-10% $517	-5% $612	+0% $706	+5% $801	+10% $896
Rate	-1.0pp $797	-0.5pp $752	base $706	+0.5pp $660	+1.0pp $612

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2486 Hallow Garden Rd Eustis, FL	3.0	2.0	1429	$2,400	$1.68	4d	1	1.28mi

Listing history 5 events

1. 2026-06-13
   statusdays on market $179,900 Pending 8 DOM
2. 2026-06-09
   days on market $179,900 Active 4 DOM
3. 2026-06-08
   days on market $179,900 Active 3 DOM
4. 2026-06-07
   remarks 521-char remark
5. 2026-06-07
   listed $179,900 Active 2 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: $2,054 · $171/mo
• Projected year-2 tax: $2,054 · $171/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 5/10 Major
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,800
• − Mortgage interest: −$10,077
• − Property taxes: −$2,054
• − Insurance: −$900
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$5,233
• Taxable income: $5,927
• Est. tax owed @ 24.0%: −$1,423
• After-tax cash flow: $7,055/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

• City population: 24,715
• Population (ZIP): 9,859

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 12% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Portuguese 2% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8% German/W. Germanic 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: ▼ -32.66%
• Current HPI: 352.4197
• 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

+799.5% since first listed

11 events — show timeline

• 2026-06-05 Listed $179,900 Stellar MLS as Distributed by MLS Grid
• 2012-10-03 Sold (MLS) $24,000 Stellar MLS as Distributed by MLS Grid
• 2012-07-09 Listed $29,000 Stellar MLS as Distributed by MLS Grid
• 2006-03-23 Sold (Public Records) $62,000 Public Records
• 2006-03-17 Sold (MLS) $62,000 Stellar MLS as Distributed by MLS Grid
• 2006-02-06 Listed $62,000 Stellar MLS as Distributed by MLS Grid
• 2006-02-02 Listed $83,900 Stellar MLS as Distributed by MLS Grid
• 2006-02-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2005-04-16 Sold (MLS) $51,500 Stellar MLS as Distributed by MLS Grid
• 2004-11-29 Listed $56,900 Stellar MLS as Distributed by MLS Grid
• 1996-03-28 Sold (Public Records) $20,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $2,054 · +22.2% YoY. Source: county tax records.