826 Dundee Cir · Silver Lake, FL 34788

$275,000

2 bd · 2.0 ba · 1,762 sqft · Condo public records · 20 Days on market

Built 2021

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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 +12.2/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• DSCR +3.6/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Scottish Highlands, a friendly 55+ Community! This spacious 2/2 with a Florida Room, and a 2 car garage is on a beautiful corner lot. Easy walking distance to the Clubhouse. The remodeled kitchen has custom wood cabinets, granite counters, and a breakfast bar. Plenty of storage! Entertaining is a pleasure, with the roomy Dining Room adjacent to the kitchen. There is a large Living Room and Family Room combination. All with new laminate flooring! Glass doors open to the florida room/Lanai. A perfect place to relax and enjoy! Master suite offers a large walk-in closet and a lovely bathroom with a tub and a separate shower. An inside laundry is nearby. Take advantage of all the amenities offered! An indoor heated Olympic pool and spa, an outdoor pool, and the clubhouse. Tennis, shuffleboard, pickleball, billiards and more! Free storage for RV's and boats. HOA fee also includes basic cable and sewer. Convenient location, close to shopping, restaurants, and medical facilities! Also included a transferable termite bond and New Roof 4-2021.

Key facts

• Custom wood cabinets
• Florida room
• Granite countertops

Tags

• FLORIDA ROOM
• CUSTOM WOOD CABINETS
• GRANITE COUNTERTOPS
• BREAKFAST BAR
• ROOMIE DINING AREA
• ENCLOSED PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $-56 ($-677/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (19.6% below list).
• Recommended offer: $221k (19.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#644 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: schools F, 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.
• Market conditions: 285 active listings in the ZIP; 5 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).
• At $2,212/mo this rent would consume 49% of the median local household income ($54k/yr) (locally 406% 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 $8k 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 20 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $199k; 38% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,196 (19.6% 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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.88%
• DSCR: 0.96
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.8%
• Equity multiple: 0.37×
• Total profit: $-48,182
• Equity at exit: $41,003

10-year hold

• IRR: -9.9%
• Equity multiple: 0.39×
• Total profit: $-46,690
• Equity at exit: $23,777

Cash invested: $77,000 (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 34788

• Home prices YoY: -18.2%
• Active inventory: 285
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,212 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$247 /mo · $2,966/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $-56

Break-even live

Break-even rent $2,283

Max offer price $265,031

Occupancy floor 98%

Sensitivity live

Price	-10% $99	-5% $21	+0% $-56	+5% $-134	+10% $-212
Rent	-10% $-231	-5% $-144	+0% $-56	+5% $31	+10% $118
Rate	-1.0pp $82	-0.5pp $14	base $-56	+0.5pp $-128	+1.0pp $-200

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10402 Pleasant View Dr Leesburg, FL	3.0	2.0	1931	$2,599	$1.35	5d	1	0.88mi
10240 Barrington Ct Leesburg, FL	3.0	2.0	2090	$2,700	$1.29	13d	1	1.08mi
34000 Sky Blossom Cir Leesburg, FL	3.0	2.0	1540	$2,100	$1.36	24d	1	1.23mi
33670 Sky Blossom Cir Leesburg, FL	3.0	2.0	1540	$1,950	$1.27	24d	1	1.31mi
147 Woodland Dr Leesburg, FL	3.0	2.0	1372	$1,449	$1.06	24d	1	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: sewercablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-15
   days on market $275,000 Active 20 DOM
2. 2026-06-13
   days on market $275,000 Active 18 DOM
3. 2026-06-09
   days on market $275,000 Active 14 DOM
4. 2026-06-08
   days on market $275,000 Active 13 DOM
5. 2026-06-07
   days on market $275,000 Active 12 DOM
6. 2026-06-04
   days on market $275,000 Active 9 DOM
7. 2026-06-03
   days on market $275,000 Active 8 DOM
8. 2026-06-02
   days on market $275,000 Active 7 DOM
9. 2026-06-02
   days on market $275,000 Active 6 DOM
10. 2026-05-31
    days on market $275,000 Active 5 DOM
11. 2026-05-26
    listed $275,000 Active
12. 2021-06-03
    soldstatus $199,000
13. 2021-05-21
    soldstatus $199,000 Closed 1060-char remark

    Show marketing remark (1060 chars)

    Welcome to Scottish Highlands, a friendly 55+ Community! This spacious 2/2 with a Florida Room, and a 2 car garage is on a beautiful corner lot. Easy walking distance to the Clubhouse. The remodeled kitchen has custom wood cabinets, granite counters, and a breakfast bar. Plenty of storage! Entertaining is a pleasure, with the roomy Dining Room adjacent to the kitchen. There is a large Living Room and Family Room combination. All with new laminate flooring! Glass doors open to the florida room/Lanai. A perfect place to relax and enjoy! Master suite offers a large walk-in closet and a lovely bathroom with a tub and a separate shower. An inside laundry is nearby. Take advantage of all the amenities offered! An indoor heated Olympic pool and spa, an outdoor pool, and the clubhouse. Tennis, shuffleboard, pickleball, billiards and more! Free storage for RV's and boats. HOA fee also includes basic cable and sewer. Convenient location, close to shopping, restaurants, and medical facilities! Also included a transferable termite bond and New Roof 4-2021.

14. 2021-04-15
    status Pending 1060-char remark

    Show marketing remark (1060 chars)

    Welcome to Scottish Highlands, a friendly 55+ Community! This spacious 2/2 with a Florida Room, and a 2 car garage is on a beautiful corner lot. Easy walking distance to the Clubhouse. The remodeled kitchen has custom wood cabinets, granite counters, and a breakfast bar. Plenty of storage! Entertaining is a pleasure, with the roomy Dining Room adjacent to the kitchen. There is a large Living Room and Family Room combination. All with new laminate flooring! Glass doors open to the florida room/Lanai. A perfect place to relax and enjoy! Master suite offers a large walk-in closet and a lovely bathroom with a tub and a separate shower. An inside laundry is nearby. Take advantage of all the amenities offered! An indoor heated Olympic pool and spa, an outdoor pool, and the clubhouse. Tennis, shuffleboard, pickleball, billiards and more! Free storage for RV's and boats. HOA fee also includes basic cable and sewer. Convenient location, close to shopping, restaurants, and medical facilities! Also included a transferable termite bond and New Roof 4-2021.

15. 2021-04-07
    listed $205,900 Active 1060-char remark

    Show marketing remark (1060 chars)

    Welcome to Scottish Highlands, a friendly 55+ Community! This spacious 2/2 with a Florida Room, and a 2 car garage is on a beautiful corner lot. Easy walking distance to the Clubhouse. The remodeled kitchen has custom wood cabinets, granite counters, and a breakfast bar. Plenty of storage! Entertaining is a pleasure, with the roomy Dining Room adjacent to the kitchen. There is a large Living Room and Family Room combination. All with new laminate flooring! Glass doors open to the florida room/Lanai. A perfect place to relax and enjoy! Master suite offers a large walk-in closet and a lovely bathroom with a tub and a separate shower. An inside laundry is nearby. Take advantage of all the amenities offered! An indoor heated Olympic pool and spa, an outdoor pool, and the clubhouse. Tennis, shuffleboard, pickleball, billiards and more! Free storage for RV's and boats. HOA fee also includes basic cable and sewer. Convenient location, close to shopping, restaurants, and medical facilities! Also included a transferable termite bond and New Roof 4-2021.

16. 2017-10-02
    soldstatus $128,000
17. 2017-09-28
    soldstatus $128,000 Sold 441-char remark

    Show marketing remark (441 chars)

    Don't pass up this beautiful Scottish Highlands home. Situated on a beautiful lot within walking distance to the clubhouse, this home has some incredible features such as a large vinyl enclosed Florida room, a completely remodeled kitchen with custom cabinets and granite counter tops, a large walk in closet in the Master, and plenty of storage throughout. All of this and you even have a large two car garage! Don't miss this amazing home.

18. 2017-07-26
    status Pending 441-char remark

    Show marketing remark (441 chars)

    Don't pass up this beautiful Scottish Highlands home. Situated on a beautiful lot within walking distance to the clubhouse, this home has some incredible features such as a large vinyl enclosed Florida room, a completely remodeled kitchen with custom cabinets and granite counter tops, a large walk in closet in the Master, and plenty of storage throughout. All of this and you even have a large two car garage! Don't miss this amazing home.

19. 2017-07-11
    listed $128,250 Active 441-char remark

    Show marketing remark (441 chars)

    Don't pass up this beautiful Scottish Highlands home. Situated on a beautiful lot within walking distance to the clubhouse, this home has some incredible features such as a large vinyl enclosed Florida room, a completely remodeled kitchen with custom cabinets and granite counter tops, a large walk in closet in the Master, and plenty of storage throughout. All of this and you even have a large two car garage! Don't miss this amazing home.

20. 1997-05-08
    soldstatus $92,000
21. 1989-08-01
    soldstatus $17,500

ⓘ 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: $2,966 · $247/mo
• Projected year-2 tax: $2,966 · $247/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,544
• − Mortgage interest: −$15,404
• − Property taxes: −$2,966
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,123
• − Management: −$2,123
• − Depreciation: −$8,000
• Taxable loss: −$5,449
• Est. tax savings @ 24.0%: +$1,308
• After-tax cash flow: $630/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 — Silver Lake

• Score: 65/100
• State rank: #644
• US rank: #12722

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 364,602 people
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 22,137
• Household income: $54,147
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 406.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 1% Tagalog/Filipino 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: ▼ -61.07%
• Current HPI: 273.6616
• Rent YoY: —
• 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

+1471.4% since first listed

11 events — show timeline

• 2026-05-26 Listed $275,000 FSBO.com
• 2021-06-03 Sold (Public Records) $199,000 Public Records
• 2021-05-21 Sold (MLS) $199,000 Stellar MLS as Distributed by MLS Grid
• 2021-04-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-04-07 Listed $205,900 Stellar MLS as Distributed by MLS Grid
• 2017-10-02 Sold (Public Records) $128,000 Public Records
• 2017-09-28 Sold (MLS) $128,000 Stellar MLS as Distributed by MLS Grid
• 2017-07-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-07-11 Listed $128,250 Stellar MLS as Distributed by MLS Grid
• 1997-05-08 Sold (Public Records) $92,000 Public Records
• 1989-08-01 Sold (Public Records) $17,500 Public Records

Property tax history

+12.6%/yr

Latest (2025): $2,966 · +2.9% YoY. Source: county tax records.