127 Royal Palm Dr · Leesburg, FL 34748

$164,999

2 bd · 2.0 ba · 1,452 sqft · Condo public records · 33 Days on market

Built 1976 $397/mo HOA · 20% of rent ↓ 11% since listing

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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 +16.2/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 2-bedroom, 2-bath river view home offering 1,452 square feet of comfortable living space on the desirable Royal Palm Drive in Hawthorne at Leesburg! This well-maintained home features an open concept floorplan with an updated kitchen showcasing a large island and charming country farmhouse style. Enjoy relaxing river views from both the spacious screen room and the Florida room, creating the perfect setting for morning coffee or evening sunsets. The home offers laminate flooring throughout the main living areas, tile flooring in the Florida room, and carpet in the guest bedroom. Both bedrooms feature walk-in closets for ample storage. The main bedroom includes a walk-in shower, wh

Key facts

• Screen room
• Laminate flooring
• Florida room

Tags

• UPDATED KITCHEN
• LARGE ISLAND
• SCREEN ROOM
• FLORIDA ROOM
• LAMINATE FLOORING
• TILE FLOORING

Property features AI

Finance

• Other: Directions available from HWY 27 south of Leesburg to the gated Hawthorne community
• Financial info: Total annual HOA fees approximately $4,764; Property is homesteaded
• HOA & community: Has HOA (monthly fee $397); HOA includes 24-hour guard, cable TV, pool, grounds maintenance, management, recreational facilities, sewer and water; Community amenities: clubhouse, fitness center, pool, tennis courts, pickleball, shuffleboard, spa/hot tub, sauna, trails, storage, wheelchair access; golf carts allowed; Senior community; pets not allowed

Exterior

• Parking: Carport with 1 space
• Security: Gated community with 24-hour guard (included in HOA)
• Utilities: Private water; Private sewer; Cable available and connected; Electricity available and connected; Phone available; Underground utilities; Water available and connected; Sewer available and connected
• Home design: Mobile home (double wide); One level; Faces east
• Construction: Vinyl siding and frame construction; Metal roof; Crawlspace foundation; Built as a double wide mobile home
• Exterior features: Awnings; Private mailbox; Rain gutters; Storage

Interior

• Kitchen: Dishwasher; Microwave; Range; Range hood; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Living area approximately 1452 (source: public records)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Eat-in kitchen; 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 condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-38 ($-460/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (4.1% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $158k (4.1% below list) — sets the bar for cash-flow.
• Cap rate 6.9% vs local median 4.4% 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: crime 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: Leesburg Elementary School (math 31% / reading 32%, grade F, #1,841 of 2,144 statewide, top 86%, 822 students, 71% FRL); Oak Park Middle School (math 32% / reading 36%, grade F, #426 of 571 statewide, top 75%, 575 students, 70% FRL); Leesburg High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,641 students, 58% FRL) — zoned schools average 66% FRL vs 49% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 50% district-wide (-18 pts) — the specific schools serving this property underperform the Lake average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.9%/yr); 798 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 40% of the median local income ($58k/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 33 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; HOA is 20% of rent.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,226 (4.1% 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 4% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.19% ✓
• Cap rate: 6.92%
• Cash-on-cash: 2.26%
• DSCR: 1.10
• GRM: 7.0

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: -22.6%
• Equity multiple: 0.25×
• Total profit: $-34,610
• Equity at exit: $24,602

10-year hold

• IRR: -34.0%
• Equity multiple: -0.17×
• Total profit: $-54,212
• Equity at exit: $14,266

Cash invested: $46,200 (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 34748

• Home prices YoY: -25.3%
• Rents YoY: -0.9%
• Active inventory: 798
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,956 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$128 /mo · $1,532/yr
• Insurance: −$69
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$397
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $-38

Break-even live

Break-even rent $2,005

Max offer price $158,226

Occupancy floor 97%

Sensitivity live

Price	-10% $55	-5% $8	+0% $-38	+5% $-85	+10% $-132
Rent	-10% $-193	-5% $-116	+0% $-38	+5% $39	+10% $116
Rate	-1.0pp $45	-0.5pp $4	base $-38	+0.5pp $-81	+1.0pp $-125

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6015 Nightjar Ct Okahumpka, FL	3.0	2.0	1725	$2,495	$1.45	13d	1	0.67mi
5440 Rosewall Cir Leesburg, FL	2.0	2.0	1200	$1,950	$1.62	6d	1	1.47mi

HOA detail condo

• Monthly dues: $397 · $4,764/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $164,999 Active 33 DOM
2. 2026-06-18
   days on market $164,999 Active 30 DOM
3. 2026-06-17
   days on market $164,999 Active 29 DOM
4. 2026-06-16
   days on market $164,999 Active 28 DOM
5. 2026-06-15
   days on market $164,999 Active 27 DOM
6. 2026-06-13
   days on market $164,999 Active 25 DOM
7. 2026-06-09
   days on market $164,999 Active 21 DOM
8. 2026-06-08
   days on market $164,999 Active 20 DOM
9. 2026-06-07
   days on market $164,999 Active 19 DOM
10. 2026-06-04
    days on market $164,999 Active 16 DOM
11. 2026-06-03
    days on market $164,999 Active 15 DOM
12. 2026-06-02
    days on market $164,999 Active 14 DOM
13. 2026-06-01
    days on market $164,999 Active 13 DOM
14. 2026-05-31
    days on market $164,999 Active 12 DOM
15. 2026-05-19
    listed $164,999 Active
16. 2026-05-06
    historical
17. 2025-11-08
    listed $186,328 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: $1,532 · $128/mo
• Projected year-2 tax: $1,532 · $128/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 4/10 Moderate FEMA zone A · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥108°F today · 19 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: $23,476
• − Mortgage interest: −$9,243
• − Property taxes: −$1,532
• − Insurance: −$2,327
• − Repairs & maintenance: −$1,878
• − Management: −$1,878
• − HOA: −$4,764
• − Depreciation: −$4,800
• Taxable loss: −$2,945
• Est. tax savings @ 24.0%: +$707
• After-tax cash flow: $247/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 — 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

• County: Lake County · 364,602 people
• City population: 70,232
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 48,095
• Household income: $58,192
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 1745.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 16% Hispanic / Latino 15% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 10% French/Haitian/Cajun 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: ▼ -88.97%
• Current HPI: 262.1766
• Rent YoY: ▼ -0.95%
• 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

-11.4% since first listed

3 events — show timeline

• 2026-05-19 Listed $164,999 Stellar MLS as Distributed by MLS Grid
• 2026-05-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-08 Listed $186,328 Stellar MLS as Distributed by MLS Grid

Property tax history

+9.0%/yr

Latest (2025): $1,532 · +3.8% YoY. Source: county tax records.