36833 Shadow Hill Dr · Fruitland Park, FL 34731

$184,500

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 64 Days on market

Built 1990 0.29 ac lot Est $235k · 21% under

---

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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.5/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Seller to put on NEW Architectural ROOF prior to closing! Explore this inviting home with 1,296 sq ft of functional living space, featuring 3 bedrooms and 2 bathrooms. Equipped with an HVAC system from 2010 as well as a water heater installed in 2019, this home is ready for comfortable living. Enjoy the benefits of no HOA fees, giving you the freedom of homeownership without added restrictions. Nestled in a quiet neighborhood, the property boasts a private backyard enhanced by a natural tree line providing a serene outdoor space for relaxation and gatherings. A convenient carport accommodates 2 vehicles, and the roof was updated in 2014 with an archit

Key facts

• Natural tree line
• Private backyard
• Water heater

Tags

• HVAC SYSTEM
• WATER HEATER
• NO HOA FEES
• PRIVATE BACKYARD
• NATURAL TREE LINE
• CARPORT

Property features AI

Finance

• Other: Unfurnished; Homestead exempt; No lease restrictions; RM zoning; Lot size approximately 0.29 acres (quarter to less than half acre); Number of rooms: 9; Building area total reported as 1,800 square feet; living area reported as 1,296 square feet; Listing contact phone: [phone]; Directions: From Fruitland Park drive north on Hwy 441/27, right on Eagles Nest, right onto Shadow Hill Drive; first house on the right.
• HOA & community: Community mailbox; Pets allowed

Exterior

• Parking: Covered parking; 2-space carport
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Water connected; Sewer connected
• Home design: Manufactured double-wide home; Single-story (one level); South-facing
• Construction: Frame construction; Shingle roof; Pillar/post/pier foundation; Built/Completed condition
• Exterior features: Enclosed patio; Patio; Side porch; Rain gutters; Sliding doors; Exterior storage shed(s); Chain link fence; Mature landscaping; Paved lot with asphalt road access; Publicly maintained road

Interior

• Kitchen: Built-in oven; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room/dining room combo; Split bedroom layout; Thermostat; Vaulted ceilings; Aluminum-framed windows with blinds and curtain rods
• Laundry & utility: Washer hookup; Dryer hookup (electric); Laundry located inside with laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $184k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $184k).
• Recommended offer: $173k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.0% in Fruitland Park — 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 70/100 on livability (#447 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A-; Watch: schools 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.
• Market conditions: 165 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 35% of the median local income ($66k/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 $6k 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 64 days — a 6% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $184k implies a 235% 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; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,430 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.05% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.98%
• DSCR: 1.40
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $234,576
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36812 Skycrest Blvd	0.10mi	3/2.0	1,188 (-8%)	10mo	$215,000	$181	73

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-5,321
• Equity at exit: $27,510

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $26,859
• Equity at exit: $15,952

Cash invested: $51,660 (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 34731

• Home prices YoY: -10.1%
• Active inventory: 165
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,930 high
• Mortgage (P&I): −$968
• Tax from tax record: −$94 /mo · $1,123/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $387

Break-even live

Break-even rent $1,441

Max offer price $184,500

Occupancy floor 75%

Sensitivity live

Price	-10% $491	-5% $439	+0% $387	+5% $335	+10% $282
Rent	-10% $234	-5% $310	+0% $387	+5% $463	+10% $539
Rate	-1.0pp $480	-0.5pp $434	base $387	+0.5pp $339	+1.0pp $290

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: $46,125
• Closing costs: $5,535
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 Shannon Ln Lady Lake, FL	3.0	2.0	1744	$1,991	$1.14	5d	1	0.78mi
316 E Primrose Ln Lady Lake, FL	3.0	1.5	1000	$1,295	$1.29	24d	1	0.78mi
1508 Spring Lake Cove Ln Fruitland Park, FL	2.0–3.0	1.0–2.0	971	$1,509	$1.55	2d	9	0.85mi
735 S Highway 27/441 Lady Lake, FL	1.0–4.0	1.0–3.0	1022	$1,493	$1.46	4d	36	1.10mi
1252 Vanderway Ln Lady Lake, FL	3.0–4.0	2.0	1698	$2,050	$1.21	5d	1	1.14mi
36338 W Spring Lake Blvd Fruitland Park, FL	3.0	2.5	1539	$2,100	$1.36	24d	1	1.38mi
606 Second Ave Lady Lake, FL	2.0	2.0	1230	$1,800	$1.46	5d	1	1.38mi
1639 Spring Lake Rd Fruitland Park, FL	3.0	2.0	1455	$1,995	$1.37	5d	1	1.39mi
36832 Wilmington Rd Fruitland Park, FL	3.0	3.0	1452	$1,800	$1.24	4d	1	1.48mi

Listing history 14 events

1. 2026-06-15
   status $184,500 Pending 64 DOM
2. 2026-06-13
   days on market $184,500 Active 64 DOM
3. 2026-06-09
   days on market $184,500 Active 60 DOM
4. 2026-06-08
   days on market $184,500 Active 59 DOM
5. 2026-06-07
   days on market $184,500 Active 58 DOM
6. 2026-06-04
   days on market $184,500 Active 55 DOM
7. 2026-06-03
   days on market $184,500 Active 54 DOM
8. 2026-06-02
   days on market $184,500 Active 53 DOM
9. 2026-06-01
   days on market $184,500 Active 52 DOM
10. 2026-05-31
    days on market $184,500 Active 51 DOM
11. 2026-04-30
    price $184,500
12. 2026-04-10
    listed $189,900 Active
13. 2004-07-08
    soldstatus $55,000
14. 1994-05-27
    soldstatus $42,000

ⓘ 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: $1,123 · $94/mo
• Projected year-2 tax: $1,531 · $128/mo
• Expected delta: +$408/yr (+$34/mo · 36.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,161
• − Mortgage interest: −$10,335
• − Property taxes: −$1,123
• − Insurance: −$922
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − Depreciation: −$5,367
• Taxable income: $1,707
• Est. tax owed @ 24.0%: −$410
• After-tax cash flow: $4,231/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 — Fruitland Park

• Score: 70/100
• State rank: #447
• US rank: #8098

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 364,602 people
• City population: 12,196
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 12,196
• Household income: $66,300
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 269.0

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 (76%)
• Race & ethnicity: White 76% Black 11% Two or more races 11% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Serbian 2% Iranian 2%
• Foreign-born: 5% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 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: ▼ -35.91%
• Current HPI: 318.8206
• 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

+339.3% since first listed

4 events — show timeline

• 2026-04-30 Price Changed $184,500 Stellar MLS as Distributed by MLS Grid
• 2026-04-10 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2004-07-08 Sold (Public Records) $55,000 Public Records
• 1994-05-27 Sold (Public Records) $42,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $1,123 · +3.1% YoY. Source: county tax records.