1820 W Schwartz Blvd · Lady Lake, FL 32159

$148,000

2 bd · 2.0 ba · 1,092 sqft · Manufactured public records · 47 Days on market

Built 1986 5,400 sqft lot Est $244k · 39% under $209/mo HOA · 12% of rent

---

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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +7.2/10.0
• Schools +4.2/10.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS CLEAN, NEAT, WELL MAINTAINED HOME IS COMPLETELY FURNISHED & READY FOR OCCUPANCY. THIS 2/2 INVERNESS FEATURES VOLUME CEILINGS, CEILING FANS, VINYL ENCL. LANAI, GOLF CART GARAGE. THIS HOME ALSO FEATURES EAT IN KITCHEN PLUS DINING AREA, ENLARGED UTILITY ROOM, SPRINKLERS, GUTTERS, AND BEAUTIFUL TREES IN THE BACK YARD.

Key facts

• Large workshop
• Functional layout
• 5,400 sq ft lot

Tags

• LARGE WORKSHOP
• FUNCTIONAL LAYOUT
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO ENTERTAINMENT

Property features AI

Finance

• Other: Unfurnished; Deed-restricted community; Golf carts permitted
• Financial info: Community Development District (CDD) present; Other annual assessment reported; Total annual fees and monthly fees reported
• HOA & community: Community amenities include clubhouse, fitness center, gated access, golf course, pool, recreation facilities, shuffleboard court, and trails; Senior community; Pets allowed

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected
• Home design: Manufactured double-wide home; Single-story; Faces north
• Construction: Frame construction; Shingle roof; Pillar/post/pier foundation; Built as a manufactured home (double wide)
• Exterior features: Asphalt road access; Lot dimensions approximately 60 x 90; Lot about 0.12 acres (0 to less than 1/4 acre)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Thermostat; Crawl space
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $148k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $144k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.1% in Lady Lake — 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 69/100 on livability (#457 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment 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: The Villages Elementary of Lady Lake School (math 63% / reading 61%, grade B, #608 of 2,144 statewide, top 29%, 761 students, 61% FRL); Leesburg High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,641 students, 58% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 583 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 37% of the median local income ($59k/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 $4k 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 47 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 2 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 $123k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $143,560 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.79%
• DSCR: 1.35
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $243,516
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
814 Orchid St	0.25mi	2/2.0	1,040 (-5%)	3mo	$260,000	$250	78
726 Orchid St	0.33mi	2/2.0	1,040 (-5%)	5mo	$205,000	$197	72
813 Saint Andrews Blvd	0.48mi	2/2.0	1,191 (+9%)	6mo	$152,000	$128	57
1620 W Schwartz Blvd	0.65mi	2/2.0	1,008 (-8%)	0mo	$225,000	$223	56

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 · 4.03% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-4,845
• Equity at exit: $22,067

10-year hold

• IRR: 7.9%
• Equity multiple: 1.63×
• Total profit: $26,245
• Equity at exit: $12,796

Cash invested: $41,440 (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 32159

• Home prices YoY: -16.0%
• Rents YoY: 4.0%
• Active inventory: 583
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,812 high
• Mortgage (P&I): −$776
• Tax from tax record: −$116 /mo · $1,389/yr
• Insurance: −$62
• HOA: −$209
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $269

Break-even live

Break-even rent $1,472

Max offer price $148,000

Occupancy floor 80%

Sensitivity live

Price	-10% $353	-5% $311	+0% $269	+5% $227	+10% $185
Rent	-10% $126	-5% $197	+0% $269	+5% $340	+10% $412
Rate	-1.0pp $343	-0.5pp $307	base $269	+0.5pp $231	+1.0pp $192

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
909 Orchid St Lady Lake, FL	2.0	1.0	936	$1,600	$1.71	25d	1	0.17mi
1715 Pebble Beach Ln Lady Lake, FL	2.0	2.0	1040	$3,500	$3.37	25d	1	0.43mi
1540 Hillcrest Dr Lady Lake, FL	2.0	2.0	1200	$1,600	$1.33	25d	1	0.60mi
1532 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1092	$2,950	$2.70	25d	1	0.63mi
13765 NE 136th Loop Lady Lake, FL	1.0–3.0	1.0–2.0	1078	$1,639	$1.52	22d	36	0.65mi
17472 SE 121st Cir Summerfield, FL	3.0	2.0	1330	$1,950	$1.47	14d	1	0.67mi
13740 Lead LN The Villages, FL	1.0–3.0	1.0–2.0	1029	$1,720	$1.67	22d	38	0.71mi
739 Heathrow Ave Lady Lake, FL	2.0	2.0	1040	$2,250	$2.16	3d	1	0.73mi
1430 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1377	$2,500	$1.82	25d	1	0.74mi
1214 Dustin Dr Lady Lake, FL	2.0	2.0	1040	$1,400	$1.35	25d	1	1.14mi
1222 Palmetto Dr Lady Lake, FL	2.0	2.0	1248	$1,700	$1.36	25d	1	1.33mi
13957 County Road 109D Lady Lake, FL	2.0	2.0	1482	$1,650	$1.11	22d	1	1.35mi
1824 Marion County Rd Weirsdale, FL	2.0	2.0	1064	$1,500	$1.41	25d	1	1.44mi

HOA detail

• Monthly dues: $209 · $2,508/yr

Listing history 21 events

1. 2026-06-21
   days on market $148,000 Active 47 DOM
2. 2026-06-18
   days on market $148,000 Active 44 DOM
3. 2026-06-17
   days on market $148,000 Active 43 DOM
4. 2026-06-16
   days on market $148,000 Active 42 DOM
5. 2026-06-15
   days on market $148,000 Active 41 DOM
6. 2026-06-13
   days on market $148,000 Active 39 DOM
7. 2026-06-09
   days on market $148,000 Active 35 DOM
8. 2026-06-08
   days on market $148,000 Active 34 DOM
9. 2026-06-07
   days on market $148,000 Active 33 DOM
10. 2026-06-04
    days on market $148,000 Active 30 DOM
11. 2026-06-03
    days on market $148,000 Active 29 DOM
12. 2026-06-02
    days on market $148,000 Active 28 DOM
13. 2026-06-01
    days on market $148,000 Active 27 DOM
14. 2026-05-31
    days on market $148,000 Active 26 DOM
15. 2026-05-05
    listed $148,000 Active
16. 2006-05-12
    soldstatus $123,000
17. 2004-07-02
    soldstatus $105,000
18. 2004-06-25
    soldstatus $105,000 326-char remark

    Show marketing remark (326 chars)

    THIS CLEAN, NEAT, WELL MAINTAINED HOME IS COMPLETELY FURNISHED & READY FOR OCCUPANCY. THIS 2/2 INVERNESS FEATURES VOLUME CEILINGS, CEILING FANS, VINYL ENCL. LANAI, GOLF CART GARAGE. THIS HOME ALSO FEATURES EAT IN KITCHEN PLUS DINING AREA, ENLARGED UTILITY ROOM, SPRINKLERS, GUTTERS, AND BEAUTIFUL TREES IN THE BACK YARD.

19. 2004-05-12
    listed $114,900 326-char remark

    Show marketing remark (326 chars)

    THIS CLEAN, NEAT, WELL MAINTAINED HOME IS COMPLETELY FURNISHED & READY FOR OCCUPANCY. THIS 2/2 INVERNESS FEATURES VOLUME CEILINGS, CEILING FANS, VINYL ENCL. LANAI, GOLF CART GARAGE. THIS HOME ALSO FEATURES EAT IN KITCHEN PLUS DINING AREA, ENLARGED UTILITY ROOM, SPRINKLERS, GUTTERS, AND BEAUTIFUL TREES IN THE BACK YARD.

20. 2004-01-13
    soldstatus $93,500
21. 1994-12-14
    soldstatus $50,500

ⓘ 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: $1,389 · $116/mo
• Projected year-2 tax: $1,389 · $116/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 9/10 Extreme 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,744
• − Mortgage interest: −$8,290
• − Property taxes: −$1,389
• − Insurance: −$740
• − Repairs & maintenance: −$1,739
• − Management: −$1,739
• − HOA: −$2,508
• − Depreciation: −$4,305
• Taxable income: $1,032
• Est. tax owed @ 24.0%: −$248
• After-tax cash flow: $2,979/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 — Lady Lake

• Score: 69/100
• State rank: #457
• US rank: #8302

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lady Lake, FL
• County: Lake County · 364,602 people
• City population: 32,107
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 32,107
• Household income: $58,518
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 1047.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 6% Two or more races 5% Black 4% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1% 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: ▼ -45.24%
• Current HPI: 237.6208
• Rent YoY: ▲ 4.03%
• 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

+193.1% since first listed

7 events — show timeline

• 2026-05-05 Listed $148,000 Stellar MLS as Distributed by MLS Grid
• 2006-05-12 Sold (Public Records) $123,000 Public Records
• 2004-07-02 Sold (Public Records) $105,000 Public Records
• 2004-06-25 Sold (MLS) $105,000 Stellar MLS as Distributed by MLS Grid
• 2004-05-12 Listed $114,900 Stellar MLS as Distributed by MLS Grid
• 2004-01-13 Sold (Public Records) $93,500 Public Records
• 1994-12-14 Sold (Public Records) $50,500 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,389 · +24.8% YoY. Source: county tax records.