26815 White Plains Way · Leesburg, FL 34748

$319,000

2 bd · 2.0 ba · 1,824 sqft · SingleFamily public records · 67 Days on market

Built 2008 6,688 sqft lot Est $387k · 18% under $124/mo HOA · 4% 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 +15.0/15.0
• Cash flow +12.3/30.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• DSCR +3.7/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

This is the dream home you’ve been waiting for! Perfectly positioned on a premium lot with a private, serene backyard, this oversized property offers the very best in comfort, style, and functionality. The BOND has been pay off already !“This home can be purchased with NO INCOME VERIFICATION”. A large screened front porch welcomes you in — the perfect place to enjoy your morning coffee or unwind in the evening. Step through the foyer into a light, bright, and beautifully maintained interior featuring neutral tile flooring and a soothing color palette that complements any décor. The kitchen is both stylish and practical, complete with stainless steel appliances

Key facts

• Dual vanities
• 6,688 sq ft lot
• 2 garage spots

Tags

• PRIVATE SERENE BACKYARD
• LARGE SCREENED FRONT PORCH
• STAINLESS STEEL APPLIANCES
• CHARMING BREAKFAST NOOK
• LUXURY VINYL FLOORING
• DUAL VANITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $319k.

Deal economics

• At list price, monthly cash flow is $-58 ($-697/yr) — negative.
• To cash-flow at today's rent, offer at most $309k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $296k (7.2% below list).
• Recommended offer: $296k (7.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: schools D+, crime 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 soft (-0.9%/yr); 797 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• At $2,961/mo this rent would consume 61% of the median local household income ($58k/yr) (locally 1745% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 67 days — a 6% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $190k; list at $319k implies a 68% 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 $296,069 (7.2% 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 67 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.93% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $386,688
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26819 Bull Run	0.60mi	2/2.0	1,824 (0%)	3mo	$341,000	$187	70
26535 Manassas Dr	0.43mi	3/2.0 (+1)	1,862 (+2%)	4mo	$480,000	$258	68
3532 Arlington Ridge Blvd	0.46mi	2/2.0	1,828 (+0%)	12mo	$395,000	$216	68
4131 Arlington Ridge Blvd	0.21mi	3/2.0 (+1)	1,776 (-3%)	23mo	$429,900	$242	61
3782 Arlington Ridge Blvd	0.55mi	3/2.0 (+1)	1,725 (-5%)	4mo	$424,000	$246	57
26653 Otter Creek Ln	0.57mi	3/2.0 (+1)	1,711 (-6%)	10mo	$345,000	$202	50
3805 Arlington Ridge Blvd	0.56mi	3/2.0 (+1)	2,001 (+10%)	4mo	$449,000	$224	49
26637 Otter Creek Ln	0.60mi	2/2.0	1,589 (-13%)	15mo	$320,500	$202	38
26633 Otter Creek Ln	0.61mi	3/2.0 (+1)	2,001 (+10%)	15mo	$410,000	$205	38
27147 Roanoke Dr	0.72mi	3/2.0 (+1)	1,725 (-5%)	20mo	$366,000	$212	36
4419 Clear Brook Ct	0.71mi	3/2.0 (+1)	2,094 (+15%)	14mo	$440,000	$210	26

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.3%
• Equity multiple: 0.28×
• Total profit: $-63,906
• Equity at exit: $47,564

10-year hold

• IRR: -25.1%
• Equity multiple: -0.04×
• Total profit: $-93,282
• Equity at exit: $27,581

Cash invested: $89,320 (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 34748

• Home prices YoY: -25.3%
• Rents YoY: -0.9%
• Active inventory: 797
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,961 medium
• Mortgage (P&I): −$1,673
• Tax from tax record: −$467 /mo · $5,607/yr
• Insurance: −$133
• HOA: −$124
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $-58

Break-even live

Break-even rent $3,034

Max offer price $308,736

Occupancy floor 97%

Sensitivity live

Price	-10% $122	-5% $32	+0% $-58	+5% $-148	+10% $-239
Rent	-10% $-292	-5% $-175	+0% $-58	+5% $59	+10% $176
Rate	-1.0pp $103	-0.5pp $23	base $-58	+0.5pp $-141	+1.0pp $-225

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26645 County Road 33 Groveland, FL	3.0	2.0	2134	$6,000	$2.81	25d	1	0.51mi
3690 Arlington Ridge Blvd Leesburg, FL	3.0	2.0	1699	$2,200	$1.29	19d	1	0.63mi
4501 River Ridge Dr Leesburg, FL	2.0	2.0	1467	$1,725	$1.18	6d	1	1.06mi
6015 Nightjar Ct Okahumpka, FL	3.0	2.0	1725	$2,495	$1.45	12d	1	1.33mi

HOA detail

• Monthly dues: $124 · $1,488/yr

Listing history 4 events

1. 2026-04-26
   status Pending
2. 2026-03-26
   price $319,000
3. 2026-02-18
   listed $329,500 Active
4. 2018-04-12
   soldstatus $190,000

ⓘ 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: $5,607 · $467/mo
• Projected year-2 tax: $5,607 · $467/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 · 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,528
• − Mortgage interest: −$17,869
• − Property taxes: −$5,607
• − Insurance: −$1,595
• − Repairs & maintenance: −$2,842
• − Management: −$2,842
• − HOA: −$1,488
• − Depreciation: −$9,280
• Taxable loss: −$5,995
• Est. tax savings @ 24.0%: +$1,439
• After-tax cash flow: $742/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

• Census place: Leesburg, FL
• County: Lake County · 364,602 people
• City population: 70,232
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 48,095
• Household income: $58,192
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 1745.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 16% Hispanic / Latino 15% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 10% French/Haitian/Cajun 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: ▼ -88.97%
• Current HPI: 262.1766
• Rent YoY: ▼ -0.95%
• 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

+67.9% since first listed

4 events — show timeline

• 2026-04-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $319,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-18 Listed $329,500 Stellar MLS as Distributed by MLS Grid
• 2018-04-12 Sold (Public Records) $190,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $5,607 · +4.0% YoY. Source: county tax records.