81 Fountain Dr · Leesburg, FL 34748

$45,900

3 bd · None ba · 1,350 sqft · Other · 9 Days on market

Fair condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

& quot; & quot; Welcome to easy Florida living inside the sought-after Leesburg Landing Mobile Home Park & acirc; & euro; & rdquo; where neighbors become friends and retirement actually feels like retirement. This spacious 3-bedroom 2-bath 1991 OAKS double-wide offers comfort functionality and one rare feature most homes here don & acirc; & euro; & trade; t have: a covered double parking overhang. Whether you need space for two vehicles a golf cart extra storage or shaded outdoor seating this setup is hard to find in the community. Inside you & acirc; & euro; & trade; ll enjoy a practical split-bedroom layout generous living space and r

Key facts

• Split-bedroom layout
• Listed 9 days

Tags

• SPLIT-BEDROOM LAYOUT
• GENEROUS LIVING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath other listed at $46k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $46k).
• Cap rate 33.1% vs local median 4.5% 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); 783 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 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 ($58k/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 $317 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $45,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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 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: 3.71% ✓
• Cap rate: 33.13%
• Cash-on-cash: 95.84%
• DSCR: 5.26
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 49.5%
• Equity multiple: 3.03×
• Total profit: $26,074
• Equity at exit: $6,844

10-year hold

• IRR: 53.3%
• Equity multiple: 5.19×
• Total profit: $53,811
• Equity at exit: $3,969

Cash invested: $12,852 (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: 783
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,701 high
• Mortgage (P&I): −$241
• Tax est. 1.5%: −$57 /mo · $688/yr
• Insurance: −$19
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $600

Break-even live

Break-even rent $941

Max offer price $45,900

Occupancy floor 60%

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 Silver Pointe Cir Leesburg, FL	1.0–2.0	1.0	837	$1,050	$1.25	23d	1	0.41mi
2429 Centennial Blvd Leesburg, FL	4.0	2.0	1057	$2,300	$2.18	20d	1	0.43mi
2511 Sennett Dr Leesburg, FL	2.0–4.0	2.0	1215	$1,940	$1.60	23d	1	0.54mi
1241 Atlantic Ave Fruitland Park, FL	3.0	2.0	1344	$2,100	$1.56	23d	1	0.87mi
1223 Pamela St Leesburg, FL	2.0	1.0	894	$1,399	$1.56	23d	1	1.07mi
1013 Beecher St Unit 1 Leesburg, FL	3.0	1.0	900	$1,250	$1.39	21d	1	1.08mi
1 Herald Dr Leesburg, FL	2.0	1.0–1.5	970	$1,524	$1.57	4d	4	1.11mi
1009 McCormack St Leesburg, FL	2.0	1.0	1400	$1,025	$0.73	23d	1	1.13mi
2127 Aitkin Loop Leesburg, FL	3.0	2.0	1667	$1,865	$1.12	23d	1	1.15mi
1020 Birchwood Ct Unit 2 Leesburg, FL	2.0	1.0	1230	$1,250	$1.02	17d	1	1.20mi
1415 Hill St Leesburg, FL	2.0	1.0	1000	$1,150	$1.15	23d	1	1.28mi
1411 Hill St Leesburg, FL	2.0	1.0	1000	$1,150	$1.15	23d	1	1.28mi
307 Willard Ave Fruitland Park, FL	3.0	2.0	1796	$1,881	$1.05	12d	1	1.31mi
1414 N Lake View Ave Leesburg, FL	4.0	1.0–3.0	1700	$1,715	$1.01	2d	3	1.32mi
1204 Wood Duck Ln Fruitland Park, FL	2.0	2.0	1235	$1,475	$1.19	17d	1	1.35mi

Listing history 7 events

1. 2026-06-18
   days on market $45,900 Active 9 DOM
2. 2026-06-17
   days on market $45,900 Active 8 DOM
3. 2026-06-16
   days on market $45,900 Active 7 DOM
4. 2026-06-15
   days on market $45,900 Active 6 DOM
5. 2026-06-13
   days on market $45,900 Active 4 DOM
6. 2026-06-10
   remarks 655-char remark
7. 2026-06-10
   listed $45,900 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 9/10 Extreme FEMA zone AE · 99% 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,410
• − Mortgage interest: −$2,571
• − Property taxes: −$688
• − Insurance: −$5,348
• − Repairs & maintenance: −$1,633
• − Management: −$1,633
• − Depreciation: −$1,335
• Taxable income: $7,201
• Est. tax owed @ 24.0%: −$1,728
• After-tax cash flow: $5,471/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

Fair 45/100 Moderate rehab

This 1991 double-wide mobile home in Leesburg Landing Mobile Home Park has average exterior and interior conditions, with some minor repairs and maintenance needed. Painting the exterior and trimming the landscaping would significantly increase its resale and rental value.

Repairs flagged

• Minor Landscaping — Overgrown bushes need trimming
• Minor Driveway — Concrete driveway has minor cracks

Value-add opportunities

• Both Paint exterior — Fresh paint enhances curb appeal and value
• Both Landscaping — Well-maintained landscaping improves curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Overgrown bushes need trimming	Minor	$500–3,000
Driveway · Concrete driveway has minor cracks	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Fresh paint enhances curb appeal and value ↑
• Both Landscaping — Well-maintained landscaping improves curb appeal and rental value ↑

ⓘ 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: 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

1 event — show timeline

• 2026-06-10 Listed $45,900 FSBO.com