27301 Lemon Ave · Okahumpka, FL 34762

$139,999

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 311 Days on market

Built 1979 6,480 sqft lot ↓ 15% since listing

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Why this score? — see what drove the B- 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 +27.2/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• 1% rule +6.7/10.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.2/5.0

Listing remarks

This fully renovated 2-bedroom, 1-bath home is the perfect addition to your investment portfolio or an affordable option for an owner-occupant. Updates throughout give this property fresh appeal, including new flooring, updated kitchen and bath, and fresh paint inside and out. The home offers a functional layout, comfortable living space, and low-maintenance features that tenants or homeowners will appreciate. Conveniently located near Leesburg, it’s move-in ready and primed for immediate rental income. Whether you’re a seasoned investor or just starting out, this property is a smart buy that combines affordability, updates, and income potential.

Key facts

• Fully renovated
• Updated bath
• Fresh paint

Tags

• FULLY RENOVATED
• UPDATED KITCHEN
• UPDATED BATH
• NEW FLOORING
• FRESH PAINT
• FUNCTIONAL LAYOUT

Property features AI

Finance

• Other: Lot about 0.15 acres (approx. 48 x 135); No waterfront; Zoning: RM; Built area listed as 672 (public records)

Exterior

• Parking: Has a 1-space carport
• Utilities: Well water; Septic tank; Electricity available and connected
• Home design: Manufactured home (single wide); One story; Faces East; Entry level: One
• Construction: Metal siding; Metal roof; Crawlspace foundation; Approximately 672 living area (per public records)
• Exterior features: Dog run; Paved road access

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Ductless heating; Wall/window air conditioning units
• Interior features: Kitchen and family room combined; No built-in appliances
• Laundry & utility: Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 44/100 on livability (#901 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, 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.
• Market conditions: 96 active listings in the ZIP; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($968 loan paydown + $5k 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 $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 311 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,199 (12.0% below list)

Questions for the listing agent

1. It's been on market 311 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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: 1.17% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.29%
• DSCR: 1.55
• GRM: 7.1

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: 21.1%
• Equity multiple: 2.26×
• Total profit: $49,301
• Equity at exit: $70,290

10-year hold

• IRR: 21.4%
• Equity multiple: 4.35×
• Total profit: $131,470
• Equity at exit: $114,417

Cash invested: $39,200 (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 34762

• Home prices YoY: 1.1%
• Active inventory: 96
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,632 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$95 /mo · $1,144/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $401

Break-even live

Break-even rent $1,124

Max offer price $139,999

Occupancy floor 70%

Sensitivity live

Price	-10% $481	-5% $441	+0% $401	+5% $362	+10% $322
Rent	-10% $272	-5% $337	+0% $401	+5% $466	+10% $530
Rate	-1.0pp $472	-0.5pp $437	base $401	+0.5pp $365	+1.0pp $328

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $139,999 Active 311 DOM
2. 2026-06-17
   days on market $139,999 Active 310 DOM
3. 2026-06-16
   days on market $139,999 Active 309 DOM
4. 2026-06-15
   days on market $139,999 Active 308 DOM
5. 2026-06-13
   days on market $139,999 Active 306 DOM
6. 2026-06-09
   days on market $139,999 Active 302 DOM
7. 2026-06-08
   days on market $139,999 Active 301 DOM
8. 2026-06-07
   days on market $139,999 Active 300 DOM
9. 2026-06-04
   days on market $139,999 Active 297 DOM
10. 2026-06-03
    days on market $139,999 Active 296 DOM
11. 2026-06-02
    days on market $139,999 Active 295 DOM
12. 2026-06-02
    days on market $139,999 Active 294 DOM
13. 2026-05-31
    days on market $139,999 Active 293 DOM
14. 2026-01-20
    price $139,999
15. 2025-08-11
    listed $145,000 Active
16. 2025-02-13
    historical
17. 2024-09-13
    listed $165,000 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: $1,144 · $95/mo
• Projected year-2 tax: $1,162 · $97/mo
• Expected delta: +$18/yr (+$1/mo · 1.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥108°F today · 18 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,583
• − Mortgage interest: −$7,842
• − Property taxes: −$1,144
• − Insurance: −$700
• − Repairs & maintenance: −$1,567
• − Management: −$1,567
• − Depreciation: −$4,073
• Taxable income: $2,690
• Est. tax owed @ 24.0%: −$646
• After-tax cash flow: $4,170/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 — Okahumpka

• Score: 44/100
• State rank: #901
• US rank: #26781

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Okahumpka, FL
• 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

-15.2% since first listed

4 events — show timeline

• 2026-01-20 Price Changed $139,999 Stellar MLS as Distributed by MLS Grid
• 2025-08-11 Listed $145,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-09-13 Listed $165,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+10.0%/yr

Latest (2025): $1,144 · +50.6% YoY. Source: county tax records.