494 Sheehan Way Plan · Lady Lake, FL 32159

$159,995

3 bd · 2.0 ba · 1,152 sqft · Manufactured · 188 Days on market

Manufactured home 55+ age-restricted Good condition $139/sqft · 8% below area Est $174k · 8% under

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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 +14.7/30.0
• ARV discount +11.1/15.0
• DSCR +4.7/10.0
• 1% rule +4.5/10.0
• Schools +4.4/10.0
• Condition / age +4.0/5.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -4.2

Listing remarks

Brand-new Jacobsen 3BR/2BA home in a desirable 55+ community! This beautifully crafted home features a lanai, convenient storage shed, dedicated laundry room, and a covered carport. The kitchen boasts abundant cabinet space, stainless steel appliances and is perfect for organization and everyday living. Enjoy comfort, style, and low-maintenance living in this move-in-ready home. (Home has been virtually staged for illustrative purposes.

Key facts

• Covered carport
• Storage shed
• Listed 187 days

Tags

• STORAGE SHED
• DEDICATED LAUNDRY ROOM
• COVERED CARPORT
• ABUNDANT CABINET SPACE
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $160k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $30 ($365/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (10.1% below list).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 4.0% in Lady Lake — 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 69/100 on livability (#457 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety 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: The Villages Elementary of Lady Lake School (math 63% / reading 61%, grade B, #608 of 2,144 statewide, top 29%, 761 students, 61% FRL); Carver Middle School (math 41% / reading 41%, grade F, #353 of 571 statewide, top 63%, 837 students, 65% FRL); Leesburg High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,641 students, 58% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 901 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 41d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).

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 188 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $140,795 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.90% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.81%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

• ARV (median comp): $174,000
• List price: $159,995
• Delta: -8.05%
• Verdict: FAIR
• Comps: 20 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
449 Hitchcock St	1.41mi	3/2.0	1,152 (0%)	1mo	$80,100	$70	64
304 Ivanhoe Cir	1.00mi	3/2.0	1,168 (+1%)	2mo	$135,000	$116	61
1001 Matthew Ave	1.34mi	2/2.0 (-1)	1,149 (-0%)	0mo	$212,000	$185	59
474 Winners Cir	1.47mi	2/2.0 (-1)	1,116 (-3%)	0mo	$140,000	$125	54
1003 Matthew Ave	1.35mi	2/2.0 (-1)	1,191 (+3%)	3mo	$203,000	$170	52
736 Cortez Ave	1.37mi	2/2.0 (-1)	1,242 (+8%)	0mo	$274,900	$221	47
1014 Dustin Dr	1.44mi	2/2.0 (-1)	1,248 (+8%)	1mo	$172,000	$138	46
1004 Ann Ave	1.29mi	2/2.0 (-1)	1,248 (+8%)	1mo	$189,000	$151	45
1019 Ann Ave	1.30mi	2/2.0 (-1)	1,048 (-9%)	0mo	$135,000	$129	45
510 Bonita Dr	1.46mi	2/2.0 (-1)	1,040 (-10%)	3mo	$100,000	$96	42
516 Jason Dr	1.34mi	2/2.0 (-1)	1,004 (-13%)	1mo	$135,000	$134	37
731 Cortez Ave	1.31mi	2/2.0 (-1)	1,336 (+16%)	1mo	$240,000	$180	34

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 · 4.03% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.50×
• Total profit: $-22,462
• Equity at exit: $23,856

10-year hold

• IRR: -3.4%
• Equity multiple: 0.76×
• Total profit: $-10,668
• Equity at exit: $13,833

Cash invested: $44,799 (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 →

Active competition Active MLS

• For sale now: 26 active · 1 under contract
• Median asking: $162,495 ($133/sqft)
• Median days on market: 61 d
• This list price: 27% of active listings are priced below it
• ARV vs active asking: +13.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32159

• Home prices YoY: -16.0%
• Rents YoY: 4.0%
• Active inventory: 901
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,438 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $30

Break-even live

Break-even rent $1,400

Max offer price $159,995

Occupancy floor 93%

Sensitivity live

Price	-10% $141	-5% $86	+0% $30	+5% $-25	+10% $-80
Rent	-10% $-83	-5% $-26	+0% $30	+5% $87	+10% $144
Rate	-1.0pp $111	-0.5pp $71	base $30	+0.5pp $-11	+1.0pp $-53

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: $39,999
• Closing costs: $4,800
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 Magnolia Dr Lady Lake, FL	2.0–3.0	2.0	1200	$1,899	$1.58	10d	1	0.01mi
450 N Clay Ave Lady Lake, FL	1.0–2.0	1.0–2.0	780	$1,365	$1.75	10d	1	0.42mi
102 Sue Ln Lady Lake, FL	2.0	1.5	873	$1,499	$1.72	40d	2	0.53mi
102 Sue Ln Lady Lake, FL	2.0	1.5	873	$1,499	$1.72	10d	2	0.53mi
224 W McClendon St Lady Lake, FL	2.0	1.0	877	$1,500	$1.71	164d	1	0.54mi
423 Highway 466 Lady Lake, FL	1.0–3.0	1.0–2.0	1110	$2,041	$1.84	2d	25	0.57mi
109 Clay Ave S Lady Lake, FL	3.0	2.0	1450	$2,000	$1.38	87d	1	0.59mi
367 Sunny Oaks Way Lady Lake, FL	2.0–3.0	1.5–2.0	1265	$1,673	$1.32	2d	20	0.88mi
409 Bay Oak Ln Lady Lake, FL	3.0	2.0	1380	$1,910	$1.38	134d	1	1.03mi
715 Hudson Ln Lady Lake, FL	3.0	2.0	1392	$2,700	$1.94	164d	1	1.13mi
710 Harper Pl Lady Lake, FL	2.0	2.0	1144	$1,300	$1.14	10d	1	1.13mi
508 Tarrson Blvd Unit 1525263P Lady Lake, FL	2.0	2.0	1011	$1,262	$1.25	153d	1	1.14mi
323 Griffin View Dr Lady Lake, FL	2.0	2.0	1250	$1,800	$1.44	55d	1	1.15mi
824 County Road 466 Lady Lake, FL	1.0–3.0	1.0–2.0	1089	$1,749	$1.61	2d	13	1.21mi
509 Loma Paseo Dr Lady Lake, FL	3.0	2.0	1462	$2,250	$1.54	55d	1	1.22mi
101 Caroline Ave Lady Lake, FL	2.0	2.0	924	$1,400	$1.52	107d	1	1.35mi
323 Chula Vista Ave Lady Lake, FL	2.0	2.0	1486	$2,700	$1.82	10d	1	1.35mi
617 Webb Way Lady Lake, FL	2.0	2.0	1332	$2,500	$1.88	3d	1	1.44mi
606 Second Ave Lady Lake, FL	2.0	2.0	1230	$1,800	$1.46	107d	1	1.49mi
606 Second Ave Lady Lake, FL	3.0	2.0	1230	$1,800	$1.46	10d	1	1.49mi

Property features AI

Finance

• Financial info: List price $159,995

Exterior

• Home design: Single-family plan (new construction)
• Construction: Living area approximately 1,152
• Exterior features: Located at 494 Sheehan Way, Lady Lake, FL

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home — new construction

Listing history 50 events

1. 2026-11-08
   days on market $159,995 Active 188 DOM
2. 2026-11-07
   days on market $159,995 Active 187 DOM
3. 2026-11-06
   days on market $159,995 Active 186 DOM
4. 2026-11-05
   days on market $159,995 Active 185 DOM
5. 2026-11-04
   days on market $159,995 Active 184 DOM
6. 2026-11-02
   days on market $159,995 Active 182 DOM
7. 2026-11-01
   days on market $159,995 Active 181 DOM
8. 2026-10-31
   days on market $159,995 Active 180 DOM
9. 2026-10-30
   days on market $159,995 Active 179 DOM
10. 2026-10-29
    days on market $159,995 Active 178 DOM
11. 2026-10-28
    days on market $159,995 Active 177 DOM
12. 2026-10-26
    days on market $159,995 Active 175 DOM
13. 2026-10-26
    days on market $159,995 Active 174 DOM
14. 2026-10-24
    days on market $159,995 Active 173 DOM
15. 2026-10-23
    days on market $159,995 Active 172 DOM
16. 2026-10-22
    days on market $159,995 Active 171 DOM
17. 2026-10-21
    days on market $159,995 Active 170 DOM
18. 2026-10-20
    days on market $159,995 Active 169 DOM
19. 2026-10-19
    days on market $159,995 Active 168 DOM
20. 2026-10-18
    days on market $159,995 Active 167 DOM
21. 2026-10-17
    days on market $159,995 Active 166 DOM
22. 2026-10-16
    days on market $159,995 Active 165 DOM
23. 2026-10-15
    days on market $159,995 Active 164 DOM
24. 2026-10-14
    days on market $159,995 Active 163 DOM
25. 2026-10-13
    days on market $159,995 Active 162 DOM
26. 2026-10-12
    days on market $159,995 Active 161 DOM
27. 2026-10-11
    days on market $159,995 Active 160 DOM
28. 2026-10-10
    days on market $159,995 Active 159 DOM
29. 2026-10-09
    days on market $159,995 Active 158 DOM
30. 2026-10-08
    days on market $159,995 Active 157 DOM
31. 2026-10-08
    days on market $159,995 Active 156 DOM
32. 2026-10-06
    days on market $159,995 Active 155 DOM
33. 2026-10-05
    days on market $159,995 Active 154 DOM
34. 2026-10-04
    days on market $159,995 Active 153 DOM
35. 2026-10-03
    days on market $159,995 Active 152 DOM
36. 2026-10-02
    days on market $159,995 Active 151 DOM
37. 2026-10-01
    days on market $159,995 Active 150 DOM
38. 2026-10-01
    days on market $159,995 Active 149 DOM
39. 2026-09-29
    days on market $159,995 Active 148 DOM
40. 2026-09-28
    days on market $159,995 Active 147 DOM
41. 2026-09-27
    days on market $159,995 Active 146 DOM
42. 2026-09-25
    days on market $159,995 Active 144 DOM
43. 2026-09-24
    days on market $159,995 Active 143 DOM
44. 2026-09-23
    days on market $159,995 Active 142 DOM
45. 2026-09-22
    days on market $159,995 Active 141 DOM
46. 2026-09-21
    days on market $159,995 Active 140 DOM
47. 2026-09-20
    days on market $159,995 Active 139 DOM
48. 2026-09-19
    days on market $159,995 Active 138 DOM
49. 2026-09-18
    days on market $159,995 Active 137 DOM
50. 2026-09-17
    days on market $159,995 Active 136 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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,257
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,381
• − Management: −$1,381
• − Depreciation: −$4,654
• Taxable loss: −$2,320
• Est. tax savings @ 24.0%: +$557
• After-tax cash flow: $922/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 None rehab

This move-in-ready home in a desirable 55+ community offers a modern kitchen, well-maintained bathrooms, and a clean exterior. It has good potential for value enhancement through minor updates.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase both resale and rental value. ↑
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and energy-efficient. ↑

F Composite school gradezoned avg 44/100

Zoned Schools

Elementary The Villages Elementary Of Lady Lake School B FL #608/2,144 Nat'l #6,217/41,679 Middle Carver Middle School F FL #353/571 Nat'l #5,727/14,009 High Leesburg High School F FL #464/667 Nat'l #11,740/17,239

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

C Composite livability gradescore 69/100

Livability — Lady Lake

• Score: 69/100
• State rank: #457
• US rank: #8302

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lady Lake, FL
• County: Lake County · 386,640 people
• City population: 32,107
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 32,107
• Household income: $58,518
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 21% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 6% Two or more races 5% Black 4% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1% Other Indo-European 1%

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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: ▼ -45.24%
• Current HPI: 237.6208
• Rent YoY: ▲ 4.03%
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Financial info: List price $159,995

Exterior

• Home design: Single-family plan (new construction)
• Construction: Living area approximately 1,152
• Exterior features: Located at 494 Sheehan Way, Lady Lake, FL

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home — new construction