87 Windtree Ln Unit K · Winter Garden, FL 34787

$200,000

2 bd · 2.0 ba · 918 sqft · Condo public records · 111 Days on market

Built 1984 $300/mo HOA · 17% 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).

• Cash flow +11.9/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• 1% rule +4.1/10.0
• Schools +4.1/10.0
• DSCR +3.5/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Large Price Improvement. Downstair location, peace and ease with this updated 2/2 FIRST FLOOR condo in Winter Garden. You will love this condo placement in the rear of the community near the pond with fountain, community pool, rentable clubhouse, basketball courts and NO STAIRS. Enjoy the private setting while sitting on your screened porch with your favorite book or beverage and the frequent visits from the neighborhood ducks. The condo has been updated to include the cabinets, counters, updated bathrooms and tile floors throughout. Move in ready so just grab your things and come on. What's Nearby? ANYTHING you could need or want. Only 1.5 miles from downtown Winter Garden, 2.5 miles to

Key facts

• Tile floors
• Community pool
• Screened porch

Tags

• FIRST FLOOR CONDO
• COMMUNITY POOL
• SCREENED PORCH
• UPDATED BATHROOMS
• TILE FLOORS
• 1.5 MILES FROM DOWNTOWN

Property features AI

Finance

• Other: Homestead exempt; Zoning: R-3
• Financial info: Total monthly fees $300; total annual fees $3,600; Lease restrictions apply
• HOA & community: HOA: Zeal Community; Monthly HOA fee $300; HOA includes common area taxes, pool, escrow reserves fund, and management; Association approval required; Pets allowed with limits on number and size

Exterior

• Parking: Assigned parking (slot 87 mentioned in directions)
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; Residential property; One story; Unit on first floor; Facing east
• Construction: Block construction; Other type roof; Slab foundation; Built as part of building K 87
• Exterior features: Asphalt road access; Clubhouse; Community mailbox; Deed-restricted community; Pool; Sidewalks

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Walk-in closet(s); 4 total rooms
• Laundry & utility: Laundry located in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-52 ($-620/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (9.3% below list).
• Recommended offer: $181k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.9% in Winter Garden — 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 84/100 on livability (#41 in FL, #804 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: William S Maxey Elementary (math 57% / reading 52%, grade C, #892 of 2,144 statewide, top 44%, 468 students, 62% FRL); West Orange High (math 30% / reading 60%, grade D-, #228 of 667 statewide, top 35%, 2,816 students, 34% FRL).
• Market conditions: Rents rising (+1.1%/yr); 1581 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 8,053 units permitted in Orange County in 2024 (3,133 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 $6k of value loss. Plan a longer hold.
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $95k; list at $200k implies a 111% gain — meaningful room to come down on a strong offer.

Recommended offer $181,358 (9.3% 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 111 days. Have you received any prior offers? Is the seller open to a 9% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 5.98%
• Cash-on-cash: -1.11%
• DSCR: 0.95
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.13% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.30×
• Total profit: $-38,960
• Equity at exit: $29,821

10-year hold

• IRR: -18.5%
• Equity multiple: 0.09×
• Total profit: $-51,038
• Equity at exit: $17,292

Cash invested: $56,000 (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 34787

• Rents YoY: 1.1%
• Active inventory: 1581
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,814 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$52 /mo · $627/yr
• Insurance: −$83
• HOA: −$300
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $-52

Break-even live

Break-even rent $1,879

Max offer price $190,869

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
88 Windtree Ln Unit K Winter Garden, FL	2.0	2.0	918	$1,450	$1.58	2d	1	0.03mi
165 Windtree Ln Winter Garden, FL	2.0	2.0	918	$1,700	$1.85	23d	1	0.04mi
126 Windtree Ln Winter Garden, FL	2.0	2.0	918	$1,700	$1.85	21d	1	0.05mi
126 Windtree Ln Winter Garden, FL	2.0	2.0	918	$1,550	$1.69	17d	1	0.05mi
119 Windtree Ln Winter Garden, FL	2.0	2.0	958	$1,695	$1.77	23d	1	0.05mi
165 Windtree Ln Unit U Winter Garden, FL	2.0	2.0	918	$1,750	$1.91	23d	1	0.07mi
80 Windtree Ln Unit 203 Winter Garden, FL	2.0	2.0	918	$1,650	$1.80	23d	1	0.11mi
36 Windtree Ln Unit 202 Winter Garden, FL	2.0	2.0	918	$1,595	$1.74	14d	1	0.14mi
1240 Winter Garden Vineland Rd Winter Garden, FL	1.0–3.0	1.0–2.0	875	$1,853	$2.12	2d	23	0.60mi
417 Southern Pecan Cir #207 Winter Garden, FL	1.0	1.0	942	$1,700	$1.80	7d	1	0.65mi
1205 S Park Ave Winter Garden, FL	2.0	1.5	1120	$1,850	$1.65	2d	1	0.73mi
314 Douglas Way Unit 900 Winter Garden, FL	2.0	2.0	930	$1,570	$1.69	23d	1	0.82mi
224 W Cypress St Winter Garden, FL	3.0	2.0	1000	$1,800	$1.80	17d	1	0.88mi
314 S Boyd St Winter Garden, FL	2.0	2.0	1054	$2,050	$1.94	2d	1	1.02mi
11 E Smith St Winter Garden, FL	1.0–2.0	1.0–2.0	948	$2,900	$3.06	7d	3	1.12mi
109 S Boyd St Unit 205 Winter Garden, FL	1.0	1.0	830	$1,895	$2.28	3d	1	1.21mi
731 Klondike St Winter Garden, FL	3.0	1.0	958	$1,800	$1.88	21d	1	1.23mi
508 Varsity St Winter Garden, FL	2.0	1.0	780	$1,695	$2.17	23d	1	1.25mi
1309 Cardinal Ln Winter Garden, FL	3.0	2.0	984	$1,800	$1.83	7d	1	1.28mi
1000 Dolphin Dr Winter Garden, FL	3.0	2.0	984	$2,100	$2.13	23d	1	1.34mi
584 W Bay St Winter Garden, FL	1.0–2.0	1.0	740	$2,225	$3.00	2d	8	1.43mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $200,000 Active 111 DOM
2. 2026-06-17
   days on market $200,000 Active 110 DOM
3. 2026-06-16
   days on market $200,000 Active 109 DOM
4. 2026-06-15
   days on market $200,000 Active 108 DOM
5. 2026-06-13
   days on market $200,000 Active 106 DOM
6. 2026-06-13
   days on market $200,000 Active 105 DOM
7. 2026-06-09
   days on market $200,000 Active 102 DOM
8. 2026-06-08
   days on market $200,000 Active 101 DOM
9. 2026-06-07
   days on market $200,000 Active 100 DOM
10. 2026-06-04
    days on market $200,000 Active 97 DOM
11. 2026-06-03
    days on market $200,000 Active 96 DOM
12. 2026-06-02
    days on market $200,000 Active 95 DOM
13. 2026-06-02
    days on market $200,000 Active 94 DOM
14. 2026-05-31
    days on market $200,000 Active 93 DOM
15. 2026-05-20
    price $200,000
16. 2026-04-21
    price $205,000
17. 2026-03-17
    price $220,000
18. 2026-02-27
    listed $225,000 Active
19. 2017-05-01
    soldstatus $95,000
20. 2016-07-05
    soldstatus $80,000
21. 2002-06-07
    soldstatus $43,900

ⓘ 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: $627 · $52/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: +$1,033/yr (+$86/mo · 164.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,763
• − Mortgage interest: −$11,203
• − Property taxes: −$627
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − HOA: −$3,600
• − Depreciation: −$5,818
• Taxable loss: −$3,968
• Est. tax savings @ 24.0%: +$952
• After-tax cash flow: $332/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: Orange
• NCES district ID: 1201440
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $49,350
• Composite: 41.47/100
• National rank: #3461
• State rank: #43 of 73 in FL

Livability — Winter Garden

• Score: 84/100
• State rank: #41
• US rank: #804

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winter Garden, FL
• County: Orange County · 1,471,359 people
• City population: 101,441
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 101,441
• Household income: $120,365
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 2682.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 1,618,226 people
• By 2030: 1,787,404 · +10.5%
• By 2040: 2,125,621 · +31.4%
• By 2050: 2,454,016 · +51.6%
• By 2075: 3,173,711 · +96.1%
• By 2100: 3,607,781 · +122.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 53% Hispanic / Latino 23% Two or more races 21% Black 9% Asian 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 7% Cuban 1%
• Common ancestry: Estonian 4% Romanian 2% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 74% English-only · Spanish 13% Other Indo-European 8% Vietnamese 1%

Political lean MEDSL · Orange

• 2024 margin: D (+13.6) · D 56.1% · R 42.5% · Other 1.3%
• 2008→2024 swing: -5.0pp toward R · 2008: 18.6pp · 2024: 13.6pp
• All cycles: 2024: D+13.6 2020: D+23.1 2016: D+24.6 2012: D+18.2 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -189.49%
• Current HPI: 296.8866
• Rent YoY: ▲ 1.13%
• 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

+355.6% since first listed

7 events — show timeline

• 2026-05-20 Price Changed $200,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $205,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-17 Price Changed $220,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2017-05-01 Sold (Public Records) $95,000 Public Records
• 2016-07-05 Sold (Public Records) $80,000 Public Records
• 2002-06-07 Sold (Public Records) $43,900 Public Records

Property tax history

+1.4%/yr

Latest (2025): $627 · +6.9% YoY. Source: county tax records.