3511 Parway Rd · Zellwood, FL 32798

$279,900

2 bd · 2.0 ba · 1,712 sqft · Other · 22 Days on market

Built 1989 Good condition

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Why this score? — see what drove the C- 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 +14.7/30.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0

Listing remarks

A must see beautiful home on golf course in a fantastic 55+ resident owned gated community with security. Very quite peaceful neighborhood. Home has been fully updated beyond the ordinary! Marble floors, Granite counter tops, all new wood Adornus easy close cabinets throughout, crown molding in all rooms, double and single hung windows for easy cleaning, new updated sun room into approximate 200 sq ft family/office room with added split unit AC with French entry doors.

Key facts

• French entry doors
• Split unit ac
• Updated sun room

Tags

• UPDATED SUN ROOM
• SPLIT UNIT AC
• FRENCH ENTRY DOORS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $280k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $72 ($866/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 $254k (9.3% below list).
• Recommended offer: $254k (9.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#248 in FL, #3,918 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute D-.
• 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.
• Market conditions: 104 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (2.5% local appreciation)).
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $253,985 (9.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.91% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.10%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.40×
• Total profit: $31,054
• Equity at exit: $118,091

10-year hold

• IRR: 10.1%
• Equity multiple: 2.45×
• Total profit: $113,466
• Equity at exit: $176,172

Cash invested: $78,372 (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 32798

• Home prices YoY: 1.0%
• Active inventory: 104
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,540 medium
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,198/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$533
• Net cashflow: $72

Break-even live

Break-even rent $2,449

Max offer price $279,900

Occupancy floor 92%

Sensitivity live

Price	-10% $266	-5% $169	+0% $72	+5% $-25	+10% $-121
Rent	-10% $-128	-5% $-28	+0% $72	+5% $172	+10% $273
Rate	-1.0pp $213	-0.5pp $143	base $72	+0.5pp $0	+1.0pp $-74

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3875 Denali Dr Apopka, FL	3.0	2.5	1734	$2,450	$1.41	23d	1	1.35mi
3941 Cuyahoga Valley Ct Apopka, FL	3.0	2.5	2138	$2,650	$1.24	23d	1	1.40mi
3979 Capital Reef Way Apopka, FL	3.0	2.5	2128	$2,545	$1.20	16d	1	1.48mi

Listing history 16 events

1. 2026-06-21
   days on market $279,900 Active 22 DOM
2. 2026-06-18
   days on market $279,900 Active 19 DOM
3. 2026-06-17
   days on market $279,900 Active 18 DOM
4. 2026-06-16
   days on market $279,900 Active 17 DOM
5. 2026-06-15
   days on market $279,900 Active 16 DOM
6. 2026-06-13
   days on market $279,900 Active 14 DOM
7. 2026-06-13
   days on market $279,900 Active 13 DOM
8. 2026-06-09
   days on market $279,900 Active 10 DOM
9. 2026-06-08
   days on market $279,900 Active 9 DOM
10. 2026-06-07
    days on market $279,900 Active 8 DOM
11. 2026-06-04
    days on market $279,900 Active 5 DOM
12. 2026-06-03
    days on market $279,900 Active 4 DOM
13. 2026-06-02
    days on market $279,900 Active 3 DOM
14. 2026-06-02
    days on market $279,900 Active 2 DOM
15. 2026-05-31
    remarks 473-char remark
16. 2026-05-31
    listed $279,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,478
• − Mortgage interest: −$15,679
• − Property taxes: −$4,198
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,438
• − Management: −$2,438
• − Depreciation: −$8,143
• Taxable loss: −$3,818
• Est. tax savings @ 24.0%: +$916
• After-tax cash flow: $1,782/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This home is in good condition with cosmetic updates needed. It's located in a gated community with golf course views, making it an attractive property for both resale and rental.

Value-add opportunities

• Both Painting the interior walls and ceiling — Fresh paint enhances curb appeal and interior aesthetics
• Both Updating the flooring — New flooring can improve the home's appearance and increase its value
• Both Updating the kitchen cabinets and countertops — Modernizing the kitchen can attract more buyers and renters
• Both Upgrading the HVAC system — A new HVAC system can improve comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls and ceiling — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Updating the flooring — New flooring can improve the home's appearance and increase its value ↑
• Both Updating the kitchen cabinets and countertops — Modernizing the kitchen can attract more buyers and renters ↑
• Both Upgrading the HVAC system — A new HVAC system can improve comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Zellwood

• Score: 75/100
• State rank: #248
• US rank: #3918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zellwood, FL
• City population: 2,159
• Population (ZIP): 2,159

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: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Iranian 5% Lithuanian 5% Romanian 2%
• Foreign-born: 5%
• Languages at home: 89% English-only · Spanish 9% German/W. Germanic 3%

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: ▲ 2.50%
• Current HPI: 254.7681
• 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

1 event — show timeline

• 2026-05-31 Listed $279,900 FSBO.com