1231 Elkhart Cir · Tavares, FL 32778

$168,000

2 bd · 2.0 ba · 1,200 sqft · Manufactured public records · 77 Days on market

Built 1973 6,280 sqft lot Est $163k · at est. $52/mo HOA · 3% of rent

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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 +19.2/30.0
• ARV discount +6.2/15.0
• DSCR +6.1/10.0
• 1% rule +5.4/10.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice, clean home in a great community close to everything. New laminate floor installed in the kitchen, along with a new stove and refrigerator, washer/dryer and hot water heater. The A/C was replaced in 2013. Both bathrooms have had high rise toilets installed recently. Duke Energy performed an energy inspection and replaced both front doors and a window in the Master bedroom, to make the home more energy efficient, saving money and providing comfort. New vertical blinds have been installed in the living room and dining room and all carpets were professionally cleaned in August 2015. . Call today for a day and time to see this lovely home. This is a rare find and won't last long at this price!

Key facts

• Metal roof
• 6,280 sq ft lot
• Garage

Tags

• METAL ROOF
• SHUFFLEBOARDS AND POOL TABLES
• MINUTES AWAY FROM WOOTEN PARK
• MINUTES AWAY FROM MT DORA
• MINUTES AWAY FROM EUSTIS
• 30 MILES FROM ORLANDO

Property features AI

Finance

• Other: Partially furnished; Lake access to Lake Frances with fishing pier and no-wake zone
• Financial info: Total annual fees $624
• HOA & community: Has HOA (monthly fee $52); Association amenities include clubhouse, pool, shuffleboard court; fence restrictions apply; Buyer approval required; Deed restrictions; Golf and golf cart friendly; Senior community; Pets allowed (cats and dogs, number limit)

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Phone available; Underground utilities; Water connected; Sewer connected
• Home design: Residential double-wide mobile home; One-story; Northeast facing; Entry level: One
• Construction: Metal siding; Metal/other roof; Pillar/post/pier foundation; Built as completed (mobile home)
• Exterior features: Rain gutters; Storage; Cleared, landscaped and level lot; Paved surfaces

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric, heat pump); Central air conditioning
• Interior features: Ceiling fans; Open floor plan; Thermostat; Walk-in closet(s); Window treatments
• Laundry & utility: Washer; Dryer; Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $168k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $158k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.5% in Tavares — 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 76/100 on livability (#220 in FL, #3,464 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment 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.
• Zoned schools: Tavares Elementary School (math 49% / reading 45%, grade D-, #1,191 of 2,144 statewide, top 57%, 875 students, 61% FRL); Tavares High School (math 32% / reading 40%, grade F, #359 of 667 statewide, top 55%, 1,507 students, 45% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents rising fast (+4.0%/yr); 501 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 33% of the median local income ($63k/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 $5k 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 77 days — a 6% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $57k; list at $168k implies a 195% 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; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,920 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.04% ✓
• Cap rate: 7.59%
• Cash-on-cash: 4.64%
• DSCR: 1.21
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $163,200
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1424 Mohawk Cir	0.19mi	2/2.0	1,160 (-3%)	2mo	$195,000	$168	84
1209 Apache Cir	0.13mi	2/2.0	1,152 (-4%)	9mo	$128,000	$111	80
1437 Mohawk Cir	0.26mi	2/2.0	1,248 (+4%)	1mo	$172,500	$138	80
1024 Capella Dr	0.08mi	2/2.0	1,104 (-8%)	4mo	$55,000	$50	79
1156 Capella Dr	0.11mi	2/2.0	1,248 (+4%)	11mo	$184,900	$148	79
1528 Schult Ct	0.20mi	2/2.0	1,248 (+4%)	6mo	$170,000	$136	78
1408 Skyline Ct	0.20mi	2/2.0	1,144 (-5%)	8mo	$92,000	$80	77
1001 Belmont Cir	0.19mi	2/2.0	1,352 (+13%)	3mo	$155,000	$115	68
1681 Elkhart Cir	0.38mi	2/2.0	1,125 (-6%)	7mo	$172,000	$153	66
1547 Apache Cir	0.24mi	2/2.0	1,360 (+13%)	9mo	$152,008	$112	59

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 · 4.05% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-13,744
• Equity at exit: $25,049

10-year hold

• IRR: 3.1%
• Equity multiple: 1.23×
• Total profit: $10,922
• Equity at exit: $14,526

Cash invested: $47,040 (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 32778

• Home prices YoY: -23.4%
• Rents YoY: 4.0%
• Active inventory: 501
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,742 high
• Mortgage (P&I): −$881
• Tax from tax record: −$192 /mo · $2,302/yr
• Insurance: −$70
• HOA: −$52
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $182

Break-even live

Break-even rent $1,513

Max offer price $168,000

Occupancy floor 85%

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1105 N Rockingham Ave Tavares, FL	2.0	2.0	806	$1,650	$2.05	5d	1	0.32mi
807 McLain Ct Tavares, FL	2.0	2.0	1104	$1,700	$1.54	16d	1	0.39mi
542 E Caroline St Tavares, FL	2.0	1.0	812	$1,400	$1.72	24d	1	0.55mi
743 E Alfred St Tavares, FL	2.0	1.0	1000	$1,450	$1.45	24d	1	0.58mi
380 Dora Ave Tavares, FL	2.0	1.0	750	$1,399	$1.87	15d	1	0.60mi
2225 Cypress Ct Unit 2C Tavares, FL	2.0	2.0	1334	$2,000	$1.50	24d	1	0.76mi
1632 Tudor Ln Unit 1632 Tavares, FL	2.0	2.0	1047	$1,595	$1.52	18d	1	0.77mi
1403 E Alfred St Unit 200 Tavares, FL	2.0	1.5	1000	$2,000	$2.00	18d	1	0.81mi
123 N Lake Ave Tavares, FL	2.0	1.0	1120	$1,595	$1.42	24d	1	1.13mi
2420 Ann Rou Rd Unit 201 Tavares, FL	1.0	1.0	1000	$1,555	$1.55	18d	1	1.28mi
2460 Ann Rou Rd Unit 606 Tavares, FL	2.0	2.0	1167	$1,750	$1.50	18d	1	1.40mi

HOA detail

• Monthly dues: $52 · $624/yr
• Likely covers: water

Listing history 24 events

1. 2026-06-18
   days on market $168,000 Active 77 DOM
2. 2026-06-17
   days on market $168,000 Active 76 DOM
3. 2026-06-16
   days on market $168,000 Active 75 DOM
4. 2026-06-15
   days on market $168,000 Active 74 DOM
5. 2026-06-13
   days on market $168,000 Active 72 DOM
6. 2026-06-09
   days on market $168,000 Active 68 DOM
7. 2026-06-08
   days on market $168,000 Active 67 DOM
8. 2026-06-07
   days on market $168,000 Active 66 DOM
9. 2026-06-04
   days on market $168,000 Active 63 DOM
10. 2026-06-03
    days on market $168,000 Active 62 DOM
11. 2026-06-02
    days on market $168,000 Active 61 DOM
12. 2026-06-01
    days on market $168,000 Active 60 DOM
13. 2026-05-31
    days on market $168,000 Active 59 DOM
14. 2026-05-06
    price $168,000
15. 2026-04-27
    price $170,000
16. 2026-04-21
    price $174,000
17. 2026-04-02
    listed $175,000 Active
18. 2015-11-02
    soldstatus $57,000 Sold 703-char remark

    Show marketing remark (703 chars)

    Nice, clean home in a great community close to everything. New laminate floor installed in the kitchen, along with a new stove and refrigerator, washer/dryer and hot water heater. The A/C was replaced in 2013. Both bathrooms have had high rise toilets installed recently. Duke Energy performed an energy inspection and replaced both front doors and a window in the Master bedroom, to make the home more energy efficient, saving money and providing comfort. New vertical blinds have been installed in the living room and dining room and all carpets were professionally cleaned in August 2015. . Call today for a day and time to see this lovely home. This is a rare find and won't last long at this price!

19. 2015-11-02
    soldstatus $57,000

    Show marketing remark (703 chars)

    Nice, clean home in a great community close to everything. New laminate floor installed in the kitchen, along with a new stove and refrigerator, washer/dryer and hot water heater. The A/C was replaced in 2013. Both bathrooms have had high rise toilets installed recently. Duke Energy performed an energy inspection and replaced both front doors and a window in the Master bedroom, to make the home more energy efficient, saving money and providing comfort. New vertical blinds have been installed in the living room and dining room and all carpets were professionally cleaned in August 2015. . Call today for a day and time to see this lovely home. This is a rare find and won't last long at this price!

20. 2015-09-04
    status Pending 703-char remark

    Show marketing remark (703 chars)

    Nice, clean home in a great community close to everything. New laminate floor installed in the kitchen, along with a new stove and refrigerator, washer/dryer and hot water heater. The A/C was replaced in 2013. Both bathrooms have had high rise toilets installed recently. Duke Energy performed an energy inspection and replaced both front doors and a window in the Master bedroom, to make the home more energy efficient, saving money and providing comfort. New vertical blinds have been installed in the living room and dining room and all carpets were professionally cleaned in August 2015. . Call today for a day and time to see this lovely home. This is a rare find and won't last long at this price!

21. 2015-08-25
    listed $59,900 Active 703-char remark

    Show marketing remark (703 chars)

    Nice, clean home in a great community close to everything. New laminate floor installed in the kitchen, along with a new stove and refrigerator, washer/dryer and hot water heater. The A/C was replaced in 2013. Both bathrooms have had high rise toilets installed recently. Duke Energy performed an energy inspection and replaced both front doors and a window in the Master bedroom, to make the home more energy efficient, saving money and providing comfort. New vertical blinds have been installed in the living room and dining room and all carpets were professionally cleaned in August 2015. . Call today for a day and time to see this lovely home. This is a rare find and won't last long at this price!

22. 2000-03-28
    soldstatus $45,000
23. 1998-07-08
    soldstatus $50,000
24. 1992-06-01
    soldstatus $46,000

ⓘ 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: $2,302 · $192/mo
• Projected year-2 tax: $2,302 · $192/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 1/10 Low
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,910
• − Mortgage interest: −$9,411
• − Property taxes: −$2,302
• − Insurance: −$840
• − Repairs & maintenance: −$1,673
• − Management: −$1,673
• − HOA: −$624
• − Depreciation: −$4,887
• Taxable loss: −$500
• Est. tax savings @ 24.0%: +$120
• After-tax cash flow: $2,300/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 — Tavares

• Score: 76/100
• State rank: #220
• US rank: #3464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tavares, FL
• County: Lake County · 364,602 people
• City population: 25,042
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 25,042
• Household income: $63,472
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 586.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 8% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Cuban 2% Dominican 1%
• Common ancestry: Romanian 4% Italian 3% Slovak 2%
• Foreign-born: 9% · Canada, Dominican Republic, Jamaica
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Other Asian/Pacific 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: ▼ -88.07%
• Current HPI: 288.7123
• Rent YoY: ▲ 4.05%
• 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

+265.2% since first listed

11 events — show timeline

• 2026-05-06 Price Changed $168,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $170,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $174,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-02 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 2015-11-02 Sold (Public Records) $57,000 Public Records
• 2015-11-02 Sold (MLS) $57,000 Stellar MLS as Distributed by MLS Grid
• 2015-09-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-08-25 Listed $59,900 Stellar MLS as Distributed by MLS Grid
• 2000-03-28 Sold (Public Records) $45,000 Public Records
• 1998-07-08 Sold (Public Records) $50,000 Public Records
• 1992-06-01 Sold (Public Records) $46,000 Public Records

Property tax history

+25.7%/yr

Latest (2025): $2,302 · +13.6% YoY. Source: county tax records.