1840 Caralee Blvd #4 · Orlando, FL 32822

$114,500

2 bd · 1.0 ba · 850 sqft · Condo public records · 134 Days on market

Built 1973 $375/mo HOA · 23% 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 +17.6/30.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. NEW PRICE. IMPECABLE 2/1 CONDO, STAINLESS STEEL APPLIANCES WITH A 3 DOORS FRIDGE, NEW CABINETS & GRANITE COUNTER TOPS, GREAT FLOORING WITH CERAMIC TILE & VINYL, NO CARPETS, CEILING FANS, FRESHLY PAINTED, NEWER A/C, COMMUNITY POOL & LAUNDRY ROOM FACILITY, FRONT & REAR BALCONIES, THERE ARE NO LAUNDRY WATER HOOK-UPS INSIDE, ETC. YOU MAY PARK ON ON ITS ASSIGNED FIRST PARKING SPACE 18404 NEXT TO THE ENTRANCE WALKWAY.

Key facts

• Front balconies
• Vinyl
• Community pool

Tags

• STAINLESS STEEL APPLIANCES
• CERAMIC TILE
• VINYL
• COMMUNITY POOL
• LAUNDRY FACILITY
• FRONT BALCONIES

Property features AI

Finance

• Other: Living area about 850 square feet; Lot approx. 0.02 acres
• Financial info: Total annual fees $4,500; No lease restrictions; Unfurnished
• HOA & community: Monthly condo/association fee of $375; Association requires approval for purchases; Association amenities include pool and laundry; Association fees include pool, grounds maintenance, and water; Community features: community mailbox, deed restrictions, pool; Dogs allowed

Exterior

• Parking: Common parking
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; Residential property; One story; Faces east; Unit on 2nd floor
• Construction: Frame construction; Shingle roof; Slab foundation; Built as part of building number 1840
• Exterior features: Rear porch; Balcony; Cul-de-sac; Street dead-end; Asphalt road

Interior

• Kitchen: Range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heat; Electric heating; Heat pump; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen
• Laundry & utility: Laundry in common area; Outside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $114k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.0% in Orlando — 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 86/100 on livability (#12 in FL, #360 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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: Rents soft (-0.7%/yr); 372 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• This rent runs 34% of the median local income ($57k/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 $792 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $114k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $100,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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.
9. 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.
10. 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: 1.40% ✓
• Cap rate: 7.24%
• Cash-on-cash: 3.39%
• DSCR: 1.15
• GRM: 6.0

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: -15.7%
• Equity multiple: 0.46×
• Total profit: $-17,222
• Equity at exit: $17,072

10-year hold

• IRR: -17.5%
• Equity multiple: 0.23×
• Total profit: $-24,662
• Equity at exit: $9,900

Cash invested: $32,060 (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 32822

• Home prices YoY: -21.1%
• Rents YoY: -0.7%
• Active inventory: 372
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,603 high
• Mortgage (P&I): −$600
• Tax from tax record: −$152 /mo · $1,829/yr
• Insurance: −$48
• HOA: −$375
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $91

Break-even live

Break-even rent $1,488

Max offer price $114,500

Occupancy floor 89%

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: $28,625
• Closing costs: $3,435
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1854 Caralee Blvd #3 Orlando, FL	2.0	1.0	850	$1,700	$2.00	24d	1	0.03mi
1847 Caralee Blvd #4 Orlando, FL	2.0	1.0	850	$1,650	$1.94	3d	1	0.05mi
1724 Townhall Ln Orlando, FL	2.0	1.5	1018	$1,595	$1.57	22d	1	0.08mi
6254 S Bend Sq #173 Orlando, FL	2.0	2.5	1104	$1,699	$1.54	24d	1	0.08mi
1718 Silver Creek Ct #102 Orlando, FL	2.0	1.5	1032	$1,850	$1.79	22d	1	0.16mi
1732 Hidden Creek Blvd #108 Orlando, FL	2.0	2.5	1104	$1,550	$1.40	18d	1	0.16mi
6203 Curry Ford Rd Orlando, FL	1.0–3.0	1.0–2.0	1011	$1,720	$1.70	14d	1	0.16mi
6299 Arlington Ct #212 Orlando, FL	2.0	1.5	1032	$1,680	$1.63	24d	1	0.17mi
6104 Curry Ford Rd #207 Orlando, FL	2.0	2.0	1051	$1,600	$1.52	24d	1	0.18mi
6104 Curry Ford Rd #108 Orlando, FL	2.0	2.0	1051	$1,500	$1.43	7d	1	0.18mi
1701 Shady Ridge Ct #247 Orlando, FL	2.0	2.5	1104	$1,600	$1.45	24d	1	0.21mi
6110 Curry Ford Rd #117 Orlando, FL	1.0	1.0	742	$1,175	$1.58	24d	1	0.22mi
5914 Mausser Dr Orlando, FL	1.0–4.0	1.0–2.5	1052	$1,771	$1.68	2d	13	0.23mi
2536 Woodgate Blvd #107 Orlando, FL	2.0	2.0	930	$1,650	$1.77	22d	1	0.23mi
2143 Raper Dairy Rd Orlando, FL	1.0	1.0	432	$1,319	$3.05	2d	8	0.24mi
6118 Curry Ford Rd Orlando, FL	1.0	1.0	742	$1,175	$1.58	24d	1	0.26mi
6122 Curry Ford Rd #241 Orlando, FL	1.0	1.0	742	$1,325	$1.79	24d	1	0.30mi
2508 Woodgate Blvd #207 Orlando, FL	2.0	2.0	930	$1,600	$1.72	22d	1	0.31mi
2516 Woodgate Blvd #203 Orlando, FL	1.0	1.0	680	$1,245	$1.83	7d	1	0.31mi
2556 Woodgate Blvd #203 Orlando, FL	1.0	1.0	680	$1,350	$1.99	14d	1	0.34mi
2500 Woodgate Blvd #203 Orlando, FL	1.0	1.0	680	$1,299	$1.91	4d	1	0.36mi
2568 Woodgate Blvd Orlando, FL	1.0–2.0	1.0–2.0	790	$1,500	$1.90	4d	1	0.37mi
6020 Village Cir N Orlando, FL	2.0	1.5	825	$1,390	$1.68	24d	1	0.39mi
1303 Candlewyck Dr Orlando, FL	2.0	1.0	904	$1,500	$1.66	24d	1	0.39mi
6077 Village Cir #6077 Orlando, FL	2.0	2.0	1022	$1,800	$1.76	24d	1	0.39mi
6032 Village Cir N #6032 Orlando, FL	2.0	2.0	1022	$1,800	$1.76	24d	1	0.39mi
6065 Village Cir #6065 Orlando, FL	2.0	1.5	860	$1,425	$1.66	7d	1	0.41mi
6043 Village Cir #6043 Orlando, FL	2.0	1.5	860	$1,550	$1.80	18d	1	0.42mi
2365 Oak Park Way #109 Orlando, FL	2.0	2.0	953	$1,350	$1.42	11d	1	0.44mi
2439 Oak Park Way #217 Orlando, FL	2.0	2.0	953	$1,650	$1.73	2d	1	0.47mi
2451 Oak Park Way #120 Orlando, FL	2.0	2.0	953	$1,700	$1.78	4d	1	0.48mi
5762 Folkstone Ln Orlando, FL	1.0–3.0	1.0–2.0	1081	$1,967	$1.82	2d	17	0.49mi
2683 Oak Park Way #214 Orlando, FL	2.0	2.0	950	$1,700	$1.79	24d	1	0.50mi
6031 Scotchwood Gln Orlando, FL	2.0	2.0	846	$1,625	$1.92	24d	2	0.51mi
1228 Virginian Dr Orlando, FL	1.0	1.0	865	$850	$0.98	16d	1	0.57mi
5870 Sundown Cir Orlando, FL	1.0–2.0	1.0–2.0	840	$1,744	$2.08	2d	25	0.61mi
917 S Alder Ave Orlando, FL	3.0	2.0	1014	$2,050	$2.02	24d	1	0.67mi
5835 La Costa Dr #104 Orlando, FL	2.0	2.0	1115	$1,600	$1.43	24d	1	0.67mi
5317 Curry Ford Rd Orlando, FL	1.0–2.0	1.0	661	$1,300	$1.97	2d	3	0.71mi
7100 Gateshead Cir Orlando, FL	1.0–3.0	1.0–2.0	900	$1,765	$1.96	2d	33	0.74mi

HOA detail condo

• Monthly dues: $375 · $4,500/yr
• Likely covers: watercablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-10
   remarks 463-char remark
2. 2026-06-10
   status $114,500 Pending 134 DOM
3. 2026-06-09
   days on market $114,500 Active 134 DOM
4. 2026-06-08
   days on market $114,500 Active 133 DOM
5. 2026-06-07
   days on market $114,500 Active 132 DOM
6. 2026-06-04
   days on market $114,500 Active 129 DOM
7. 2026-06-03
   days on market $114,500 Active 128 DOM
8. 2026-06-02
   days on market $114,500 Active 127 DOM
9. 2026-06-02
   days on market $114,500 Active 126 DOM
10. 2026-05-31
    days on market $114,500 Active 125 DOM
11. 2026-05-17
    price $114,500
12. 2026-05-17
    status Active
13. 2026-04-29
    status Pending
14. 2026-03-31
    price $119,900
15. 2026-03-12
    price $130,000
16. 2026-02-04
    price $134,900
17. 2026-01-08
    listed $144,900 Active
18. 2016-07-18
    soldstatus $53,500
19. 2005-04-28
    soldstatus $70,000

ⓘ 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: $1,829 · $152/mo
• Projected year-2 tax: $1,829 · $152/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,232
• − Mortgage interest: −$6,414
• − Property taxes: −$1,829
• − Insurance: −$572
• − Repairs & maintenance: −$1,539
• − Management: −$1,539
• − HOA: −$4,500
• − Depreciation: −$3,331
• Taxable loss: −$491
• Est. tax savings @ 24.0%: +$118
• After-tax cash flow: $1,205/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: 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 — Orlando

• Score: 86/100
• State rank: #12
• US rank: #360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orlando, FL
• County: Orange County · 1,471,359 people
• City population: 964,969
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 67,081
• Household income: $56,540
• Rent vs Own: 58.0% rent · 42.0% own
• Severe rent burden: 4246.0

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 Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 36% White 17% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 38% Cuban 5% Dominican 5%
• Common ancestry: Lithuanian 1% Romanian 1% Slovak 1%
• Foreign-born: 27% · Canada, Jamaica, China
• Languages at home: 36% English-only · Spanish 60% French/Haitian/Cajun 1% Arabic 1%

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: ▼ -95.17%
• Current HPI: 355.5775
• Rent YoY: ▼ -0.68%
• 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

+63.6% since first listed

9 events — show timeline

• 2026-05-17 Price Changed $114,500 Stellar MLS as Distributed by MLS Grid
• 2026-05-17 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-31 Price Changed $119,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $130,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-04 Price Changed $134,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-08 Listed $144,900 Stellar MLS as Distributed by MLS Grid
• 2016-07-18 Sold (Public Records) $53,500 Public Records
• 2005-04-28 Sold (Public Records) $70,000 Public Records

Property tax history

+11.1%/yr

Latest (2025): $1,829 · +13.6% YoY. Source: county tax records.