4798 Tangerine Ave #4798 · Goldenrod, FL 32792

$180,000

2 bd · 2.0 ba · 1,058 sqft · Condo public records · 14 Days on market

Built 1973 $365/mo HOA · 21% of rent

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Why this score? — see what drove the D 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 +11.9/30.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming and well-maintained condominium located in the desirable Winter Park area, offering the perfect blend of comfort, convenience, and low-maintenance living. This inviting residence features a spacious and functional layout filled with natural light, creating a warm and welcoming atmosphere ideal for everyday living or entertaining. Enjoy an open living and dining area that flows seamlessly to a private screened porch with additional storage space, perfect for relaxing and enjoying the peaceful surroundings. The home offers generous room sizes, ample storage throughout, and a comfortable living environment within a quiet and established community. Residents enjoy acces

Key facts

• Fitness center
• $365 HOA
• Community pool

Tags

• PRIVATE SCREENED PORCH
• SPARKLING SWIMMING POOL
• FITNESS CENTER
• CLUBHOUSE CONFERENCE ROOM
• BEAUTIFULLY MAINTAINED GROUNDS
• EASY ACCESS TO MAJOR HIGHWAYS

Property features AI

Finance

• Other: Condo land included; No lease restrictions reported
• Financial info: Total monthly fees $365; total annual fees $4,380
• HOA & community: Monthly condo/HOA fee $365 (includes water and trash); Association amenities include pool; Community features include pool and street lights; Pets allowed (cats and dogs)

Exterior

• Parking: Open parking
• Utilities: Public water; Public sewer; Electricity connected and available; Cable available; Phone available; High-speed/BB internet available; Underground utilities; Water and sewer available/connected
• Home design: Condominium (residential); Single-story; Entry on one level; Faces north
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as part of Wrenwood Condominium (building #4798)
• Exterior features: Rear screened porch

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heat (electric, heat pump); Central air with humidity control
• Interior features: Thermostat; Aluminum frame windows
• Laundry & utility: Washer; Dryer (inside laundry)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-46 ($-555/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (3.8% below list).
• Recommended offer: $172k (4.5% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 3.6% in Goldenrod — 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 79/100 on livability (#138 in FL, #2,056 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, schools A-; Watch: employment D, amenities F.
• 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 rising (+1.9%/yr); 275 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• This rent runs 30% of the median local income ($69k/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.
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $171,827 (4.5% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.96% ✗
• Cap rate: 5.98%
• Cash-on-cash: -1.10%
• DSCR: 0.95
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.9% rent growth · sell at horizon

5-year hold

• IRR: -19.4%
• Equity multiple: 0.33×
• Total profit: $-33,880
• Equity at exit: $26,839

10-year hold

• IRR: -14.8%
• Equity multiple: 0.20×
• Total profit: $-40,375
• Equity at exit: $15,563

Cash invested: $50,400 (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 32792

• Rents YoY: 1.9%
• Active inventory: 275
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,732 high
• Mortgage (P&I): −$944
• Tax from tax record: −$31 /mo · $368/yr
• Insurance: −$75
• HOA: −$365
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $-46

Break-even live

Break-even rent $1,791

Max offer price $171,827

Occupancy floor 98%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4800 Tangerine Ave Winter Park, FL	2.0	2.0	1058	$1,950	$1.84	17d	1	0.03mi
4818 Tangerine Ave #4818 Winter Park, FL	1.0	1.0	753	$1,350	$1.79	11d	1	0.05mi
7001 Aloma Ave Winter Park, FL	1.0	1.0	625	$1,278	$2.04	3d	5	0.06mi
4968 Tangerine Ave #4968 Winter Park, FL	2.0	2.0	1059	$1,700	$1.61	23d	1	0.15mi
4704 Lucier Ct Winter Park, FL	2.0	2.0–2.5	934	$1,724	$1.85	2d	7	0.40mi
5171 Orange Ave Winter Park, FL	3.0	2.0	1317	$2,050	$1.56	23d	1	0.45mi
704 Carnation Dr Winter Park, FL	3.0	2.0	1324	$2,095	$1.58	21d	1	0.49mi
4616 N Goldenrod Rd Winter Park, FL	2.0	1.0	754	$1,675	$2.22	4d	1	0.52mi
1407 Chilean Ln Winter Park, FL	3.0	2.0	1356	$2,071	$1.53	12d	1	0.53mi
7502 Sun Key Blvd Winter Park, FL	1.0–2.0	1.0–2.0	815	$1,703	$2.09	1d	12	0.54mi
5212 N Indiana Ave Winter Park, FL	3.0	1.5	950	$2,200	$2.32	10d	1	0.55mi
4755 N Goldenrod Rd Winter Park, FL	3.0	1.0–2.0	843	$1,882	$2.23	2d	22	0.69mi
5171 Lazy Oaks Dr Winter Park, FL	2.0	2.5	1236	$2,200	$1.78	10d	1	0.72mi
5 Autumn Breeze Way Winter Park, FL	1.0–3.0	1.0–2.0	995	$1,608	$1.62	1d	39	0.74mi
3250 Bishop Park Dr Winter Park, FL	1.0–2.0	1.0–2.0	880	$2,117	$2.41	1d	17	0.78mi
7000 University Blvd Winter Park, FL	1.0–2.0	1.0–2.0	768	$1,675	$2.18	1d	8	0.81mi
7950 Shoals Dr Orlando, FL	1.0–2.0	1.0–2.0	870	$1,825	$2.10	1d	12	0.82mi
3449 Allston Ln Winter Park, FL	3.0	2.5	1482	$2,350	$1.59	21d	1	0.83mi
3935 Sutton Place Blvd Winter Park, FL	1.0–2.0	1.0–2.0	858	$1,969	$2.29	1d	24	0.86mi
800 Semoran Park Dr Winter Park, FL	1.0–2.0	1.0–2.0	880	$1,667	$1.89	1d	6	0.93mi
3045 Aloma Ave Winter Park, FL	1.0–2.0	1.0–2.0	1010	$2,850	$2.82	2d	10	0.94mi
3924 Calibre Bend Ln Winter Park, FL	1.0–2.0	1.0–2.0	1082	$1,983	$1.83	2d	8	0.96mi
7004 Mills Rd Winter Park, FL	2.0	2.0	1000	$1,595	$1.59	17d	1	0.97mi
3040 Aloma Ave Winter Park, FL	1.0–3.0	1.0–2.0	965	$1,525	$1.58	1d	10	0.97mi
3059 Autumn Ct Winter Park, FL	3.0	2.0	1266	$1,900	$1.50	17d	1	1.10mi
3651 N Goldenrod Rd Unit 208 Winter Park, FL	2.0	2.0	840	$1,550	$1.85	23d	1	1.17mi
3651 N Goldenrod Rd Unit 110 Winter Park, FL	2.0	2.0	840	$1,450	$1.73	21d	1	1.17mi
3651 N Goldenrod Rd Winter Park, FL	2.0	2.0	840	$1,360	$1.62	21d	1	1.17mi
3656 N Goldenrod Rd Unit 3624303 Winter Park, FL	1.0	1.0	711	$1,599	$2.25	3d	1	1.18mi
2015 New Stonecastle Ter Winter Park, FL	1.0–3.0	1.0–2.0	1045	$1,630	$1.56	1d	19	1.19mi
3232 Royal St Winter Park, FL	3.0	1.5	970	$1,745	$1.80	1d	1	1.20mi
3651 N Goldenrod Rd Winter Park, FL	2.0	2.0	840	$1,430	$1.70	13d	1	1.21mi
3651 N Goldenrod Rd Winter Park, FL	2.0	2.0	840	$1,445	$1.72	3d	2	1.21mi
3651 N Goldenrod Rd Winter Park, FL	2.0	2.0	840	$1,548	$1.84	4d	1	1.21mi
5523 Cretan Way Winter Park, FL	3.0	2.0	1332	$1,795	$1.35	1d	1	1.23mi
7800 Fernbrook Way Winter Park, FL	3.0	2.0	1381	$2,295	$1.66	10d	1	1.24mi
2610 Eastbrook Blvd Unit 216 Winter Park, FL	2.0	1.0	850	$1,300	$1.53	23d	1	1.25mi
5560 Solidago Dr Winter Park, FL	2.0–3.0	1.0–2.0	947	$1,439	$1.52	23d	3	1.26mi
2617 Eastbrook Blvd Winter Park, FL	1.0–2.0	1.0	875	$1,300	$1.49	23d	2	1.28mi
7745 Brandywood Cir Winter Park, FL	1.0–2.0	1.0–2.0	800	$1,745	$2.18	2d	11	1.28mi

HOA detail condo

• Monthly dues: $365 · $4,380/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $180,000 Active 14 DOM
2. 2026-06-17
   days on market $180,000 Active 13 DOM
3. 2026-06-16
   days on market $180,000 Active 12 DOM
4. 2026-06-16
   price $180,000 Active 11 DOM
5. 2026-06-15
   days on market $185,000 Active 11 DOM
6. 2026-06-13
   days on market $185,000 Active 9 DOM
7. 2026-06-13
   days on market $185,000 Active 8 DOM
8. 2026-06-09
   days on market $185,000 Active 5 DOM
9. 2026-06-08
   days on market $185,000 Active 4 DOM
10. 2026-06-07
    days on market $185,000 Active 3 DOM
11. 2026-06-04
    remarks 699-char remark
12. 2026-06-04
    listed $185,000 Active 1 DOM

ⓘ 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: $368 · $31/mo
• Projected year-2 tax: $1,494 · $124/mo
• Expected delta: +$1,126/yr (+$94/mo · 306.0%)

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

Taxation est. · year 1

• Rental income: $20,785
• − Mortgage interest: −$10,083
• − Property taxes: −$368
• − Insurance: −$900
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − HOA: −$4,380
• − Depreciation: −$5,236
• Taxable loss: −$3,508
• Est. tax savings @ 24.0%: +$842
• After-tax cash flow: $287/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 — Goldenrod

• Score: 79/100
• State rank: #138
• US rank: #2056

Category grades

Amenities F Commute A+ Cost of living B+ 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: Goldenrod, FL
• County: Orange County · 1,471,359 people
• City population: 52,794
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 52,976
• Household income: $69,200
• Rent vs Own: 52.0% rent · 48.0% own
• Severe rent burden: 3610.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 51% Hispanic / Latino 27% Two or more races 15% Black 12% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 11% Cuban 2% Dominican 1%
• Common ancestry: Romanian 2% Italian 2% Scotch-Irish 1%
• Foreign-born: 16% · Canada, Jamaica, Vietnam
• Languages at home: 74% English-only · Spanish 19% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -281.94%
• Current HPI: 351.1184
• Rent YoY: ▲ 1.90%
• 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

• 2026-06-04 Listed $185,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2025): $368 · +6.2% YoY. Source: county tax records.