862 Spring Ave · Leesburg, FL 34762

$269,900

2 bd · 2.0 ba · 1,227 sqft · SingleFamily public records · 33 Days on market

Built 2023 Good condition 3,600 sqft lot $199/mo HOA · 7% of rent ↓ 7% since listing

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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 +13.2/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• 1% rule +5.3/10.0
• Schools +4.2/10.0
• DSCR +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Welcome home to this charming turnkey furnished 2-bedroom, 2-bathroom home located in the desirable Kiersten Villas in the Village of Dabney within The Villages. Inside, you'll find an open floor plan designed for easy everyday living and entertaining, complemented by luxury vinyl plank flooring throughout the main living areas. The spacious center-island kitchen features stainless steel appliances, ample cabinetry, and generous counter space, making it perfect for cooking and gathering with guests. The primary suite offers a large walk-in closet, while the en-suite bathroom features double sinks and a walk-in shower. Ideally situated just minutes from the nearby recreation area featuring a community pool, shuffle boads, and pickleball courts. This home offers the perfect blend of comfort and active Florida living. Enjoy easy access to all the lifestyle amenities, entertainment, dining, and golf cart accessibility that make The Villages such a sought-after destination. Call today to schedule your private showing.

Key facts

• Open floor plan
• Turnkey furnished
• Large walk-in closet

Tags

• TURNKEY FURNISHED
• OPEN FLOOR PLAN
• LUXURY VINYL PLANK FLOORING
• CENTER-ISLAND KITCHEN
• STAINLESS STEEL APPLIANCES
• LARGE WALK-IN CLOSET

Property features AI

Finance

• Other: Furnished; Directions: Right on Chandler Dr, Left on River Oaks Cir, Right to stay on River Oaks Cir, Left on Spring Ave.
• Financial info: Other annual assessment: $1,572; Total annual fees: $2,388; Total monthly fees: $199; Lease restrictions apply
• HOA & community: HOA required with monthly fee of $199; Association approval required; Community amenities include gated entry, golf course, pool, fitness center, dog park, pickleball courts, shuffleboard courts, community mailbox; Senior community; Pets allowed; Buyer approval required; Deed restrictions; Golf carts allowed

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available
• Home design: Single-family residence; One story; Faces north
• Construction: Vinyl siding and frame construction; Shingle roof; Slab foundation; Built on a 0.08-acre lot
• Exterior features: Rain gutters; Sliding doors; Asphalt road access

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Open floorplan; Thermostat; Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $270k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-3 ($-41/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (0.2% below list).
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $262k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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: 96 active listings in the ZIP; 3 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).

Forward outlook

• In year one you build about $12k of equity ($2k loan paydown + $11k appreciation (3.9% local appreciation)).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $76k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $261,803 (3.0% 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. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.03% ✓
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.0%
• Equity multiple: 1.61×
• Total profit: $45,849
• Equity at exit: $135,510

10-year hold

• IRR: 12.0%
• Equity multiple: 2.96×
• Total profit: $148,102
• Equity at exit: $220,581

Cash invested: $75,572 (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 34762

• Home prices YoY: 1.1%
• Active inventory: 96
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,792 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$482 /mo · $5,788/yr
• Insurance: −$112
• HOA: −$199
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $-3

Break-even live

Break-even rent $2,796

Max offer price $269,289

Occupancy floor 95%

Sensitivity live

Price	-10% $149	-5% $73	+0% $-3	+5% $-80	+10% $-156
Rent	-10% $-224	-5% $-114	+0% $-3	+5% $107	+10% $217
Rate	-1.0pp $132	-0.5pp $65	base $-3	+0.5pp $-73	+1.0pp $-145

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7548 Kuenher Ct The Villages, FL	3.0	2.0	1440	$2,400	$1.67	24d	1	0.32mi
7181 Fay Ct The Villages, FL	2.0	2.0	1175	$4,800	$4.09	24d	1	1.19mi
7185 Denver Ave The Villages, FL	3.0	2.0	1440	$1,950	$1.35	24d	1	1.24mi

HOA detail

• Monthly dues: $199 · $2,388/yr
• Likely covers: pool

Listing history 16 events

1. 2026-06-18
   days on market $269,900 Active 33 DOM
2. 2026-06-17
   pricedays on market $269,900 Active 32 DOM
3. 2026-06-16
   days on market $279,900 Active 31 DOM
4. 2026-06-15
   days on market $279,900 Active 30 DOM
5. 2026-06-13
   days on market $279,900 Active 28 DOM
6. 2026-06-09
   days on market $279,900 Active 24 DOM
7. 2026-06-08
   days on market $279,900 Active 23 DOM
8. 2026-06-07
   days on market $279,900 Active 22 DOM
9. 2026-06-04
   days on market $279,900 Active 19 DOM
10. 2026-06-03
    days on market $279,900 Active 18 DOM
11. 2026-06-02
    days on market $279,900 Active 17 DOM
12. 2026-06-01
    days on market $279,900 Active 16 DOM
13. 2026-05-31
    days on market $279,900 Active 15 DOM
14. 2026-05-16
    listed $279,900 Active
15. 2026-05-15
    listed $279,900 Active 1028-char remark

    Show marketing remark (1028 chars)

    Welcome home to this charming turnkey furnished 2-bedroom, 2-bathroom home located in the desirable Kiersten Villas in the Village of Dabney within The Villages. Inside, you'll find an open floor plan designed for easy everyday living and entertaining, complemented by luxury vinyl plank flooring throughout the main living areas. The spacious center-island kitchen features stainless steel appliances, ample cabinetry, and generous counter space, making it perfect for cooking and gathering with guests. The primary suite offers a large walk-in closet, while the en-suite bathroom features double sinks and a walk-in shower. Ideally situated just minutes from the nearby recreation area featuring a community pool, shuffle boads, and pickleball courts. This home offers the perfect blend of comfort and active Florida living. Enjoy easy access to all the lifestyle amenities, entertainment, dining, and golf cart accessibility that make The Villages such a sought-after destination. Call today to schedule your private showing.

16. 2025-08-11
    listed $300,000 Active

ⓘ 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: $5,788 · $482/mo
• Projected year-2 tax: $5,788 · $482/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: $33,505
• − Mortgage interest: −$15,119
• − Property taxes: −$5,788
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,680
• − Management: −$2,680
• − HOA: −$2,388
• − Depreciation: −$7,852
• Taxable loss: −$4,352
• Est. tax savings @ 24.0%: +$1,044
• After-tax cash flow: $1,003/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 · 12 photos

Good 80/100 Cosmetic rehab

This charming turnkey furnished home in The Villages is in good condition with a good condition score of 80. It has a good kitchen, bathroom, and exterior. The home is ready for a new owner and would benefit from fresh paint and cleaning gutters.

Value-add opportunities

• Both Paint exterior walls — Fresh paint can enhance curb appeal and property value.
• Both Clean gutters — Clean gutters improve drainage and prevent water damage to the exterior of the home.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Fresh paint can enhance curb appeal and property value. ↑
• Both Clean gutters — Clean gutters improve drainage and prevent water damage to the exterior of the home. ↑

ⓘ 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
• City population: 70,232
• Population (ZIP): 580

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Two or more races 16% Black 12%
• Hispanic origin (detail): Cuban 13%
• Foreign-born: 13% · Canada
• Languages at home: 82% English-only · Spanish 18%

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: ▲ 3.92%
• Current HPI: 365.7475
• Rent YoY: —
• Metro: —
• 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

-6.7% since first listed

3 events — show timeline

• 2026-05-16 Listed $279,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-15 Listed $279,900 HCAR
• 2025-08-11 Listed $300,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2025): $5,788 · +3.2% YoY. Source: county tax records.