Is 7603 Waterscape Dr in Mascotte, FL a good investment?

CashFlowRE grades it F with a 4.5% cap rate and $-419/mo modeled cash flow at a $285,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 7603 Waterscape Dr?

The modeled cap rate is 4.5% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $2,297/month, from CashFlowRE's rent model.

F Composite 33.81

Why this score? — see what drove the F 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).

ARV discount +7.6/15.0
Cash flow +7.0/30.0
Condition / age +4.8/5.0
Schools +3.8/10.0
Livability +3.6/5.0
1% rule +3.1/10.0
Rent growth +2.9/5.0
DSCR +1.2/10.0
Appreciation +0.0/10.0

$285,000

7603 Waterscape Dr · Mascotte, FL 34736

3 bd · 2.5 ba · 1,404 sqft · Townhouse · 157 Days on market

Built 2026 Excellent condition 2,400 sqft lot Garage $203/sqft · at area comps Est $285k · at est. $264/mo HOA · 11% of rent ↓ 4% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

This model home purchase includes our Model Leaseback Program. * This program is perfect for buyers who want to purchase now but aren't ready to move. Contact seller for more term details on leasing your home back. When the lease is up, you move in! Model leaseback terms vary by model home. Please see a Community Sales Manager for additional details. Restrictions may apply. * Welcome to the Jasmine at 7603 Waterscape Drive in Waterstone Townhomes. This inviting model townhome offers approx. 1,404 square feet with an open great room and a bright kitchen centered around a spacious island that feels perfect for everyday meals and easy gatherings. The first level also features a cozy outdoor patio, a convenient half bath, and a one car garage. Upstairs, you'll find two comfortable bedrooms with a full bath, along with a relaxing primary suite that includes a walk in closet and double vanity bathroom. The laundry area is upstairs for added ease, and thoughtful storage fills the home with a large pantry, under stair storage, and a linen closet. Located in Groveland just minutes from Clermont, Waterstone Townhomes offers a friendly community feel with planned amenities including a pool with cabana, dog park, Nature Play Space and Monarch Butterfly Gardens. Additional Highlights Include: washer, dryer, GE refrigerator, whole house blinds, quartz countertops.

Key facts

Bright kitchen
Spacious island
Cozy outdoor patio

What this means for you Summary

Snapshot

This is a 3-bed/2.5-bath townhouse listed at $285k. Condition is rated excellent.

Deal economics

At list price, monthly cash flow is $-419 ($-5k/yr) — negative.
To cash-flow at today's rent, offer at most $224k (21.3% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (19.4% below list).
Recommended offer: $224k (21.3% below list) — sets the bar for cash-flow.

Location & tenants

Location reads 71/100 on livability (#405 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: 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: Groveland Elementary School (math 30% / reading 32%, grade F, #1,854 of 2,144 statewide, top 87%, 744 students, 63% FRL); Gray Middle School (math 45% / reading 45%, grade D, #310 of 571 statewide, top 56%, 1,148 students, 47% FRL); South Lake High School (math 36% / reading 39%, grade F, #336 of 667 statewide, top 51%, 2,169 students, 40% FRL) — zoned schools at 50% FRL track the district average.
Market conditions: Rents rising (+1.7%/yr); 785 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 28d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
This rent runs 30% of the median local income ($91k/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 $2k of loan paydown is wiped out by about $9k 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 157 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
2 sale attempts; this cycle's ask has dropped $16k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $224,405 (21.3% below list)

Questions for the listing agent

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?
It's been on market 157 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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?
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.
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.
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: 0.81% ✗
Cap rate: 4.53%
Cash-on-cash: -6.30%
DSCR: 0.72
GRM: 10.3

CMA / ARV

ARV (median comp): $285,380
List price: $285,000
Delta: -0.13%
Verdict: FAIR
Comps: 9 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7605 Waterscape Dr	0.00mi	3/2.5	1,404 (0%)	13mo	$283,654	$202	89
7651 Waterscape Dr	0.09mi	3/2.5	1,404 (0%)	12mo	$260,000	$185	86
7803 Waterscape Dr	0.20mi	3/2.5	1,404 (0%)	12mo	$252,000	$179	80
7649 Waterscape Dr	0.09mi	3/2.5	1,455 (+4%)	12mo	$252,000	$173	80
7631 Waterscape Dr	0.06mi	3/2.5	1,558 (+11%)	6mo	$290,000	$186	74
7633 Waterscape Dr	0.07mi	3/2.5	1,558 (+11%)	6mo	$285,000	$183	74
7607 Waterscape Dr	0.01mi	3/2.5	1,558 (+11%)	13mo	$289,999	$186	71
7801 Waterscape Dr	0.19mi	3/2.5	1,558 (+11%)	9mo	$283,400	$182	65
7771 Waterscape Dr	0.17mi	3/2.5	1,552 (+10%)	13mo	$310,000	$200	63

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 · 1.67% rent growth · sell at horizon

5-year hold

IRR: -28.8%
Equity multiple: 0.05×
Total profit: $-75,690
Equity at exit: $42,494

10-year hold

IRR: -35.6%
Equity multiple: -0.40×
Total profit: $-111,575
Equity at exit: $24,642

Cash invested: $79,800 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 9 active · 13 under contract
Months of supply: 54.0 mo (2%/mo absorbed)
Median asking: $235,589 ($168/sqft)
Median days on market: 65 d
This list price: 78% of active listings are priced below it
ARV vs active asking: +21.1% above current asking $/sqft

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

ZIP-level market 34736

Home prices YoY: -22.5%
Rents YoY: 1.7%
Active inventory: 785
Price-to-rent: 10.3×

Monthly cashflow live

Estimated rent: $2,297 high interval (Pro) →
Mortgage (P&I): −$1,495
Tax est. 1.5%: −$356 /mo · $4,275/yr
Insurance: −$119
HOA: −$264
Lot rent: −$0
Vacancy / Maint / Mgmt: −$482
Net cashflow: $-419

Break-even live

Break-even rent $2,827

Max offer price $224,405

Occupancy floor —

Sensitivity live

Price	-10% $-222	-5% $-320	+0% $-419	+5% $-517	+10% $-616
Rent	-10% $-600	-5% $-509	+0% $-419	+5% $-328	+10% $-237
Rate	-1.0pp $-275	-0.5pp $-346	base $-419	+0.5pp $-493	+1.0pp $-568

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: $71,250
Closing costs: $8,550
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7629 Waterscape Dr Groveland, FL	3.0	2.5	1404	$1,950	$1.39	30d	1	0.04mi
7633 Waterscape DR Groveland, FL	3.0	2.5	1558	$2,000	$1.28	10d	1	0.04mi
7412 Capstone Dr Groveland, FL	4.0	2.0	1848	$2,400	$1.30	10d	1	0.41mi
7201 Big Cedar Aly Groveland, FL	3.0	2.5	1500	$2,000	$1.33	119d	1	0.54mi
338 Ridgemark Ave Groveland, FL	4.0	2.0	1824	$2,300	$1.26	100d	1	0.58mi
253 Luxmore Rd Groveland, FL	3.0	2.0	1547	$2,100	$1.36	27d	1	0.75mi
2009 Sloans Outlook Dr Groveland, FL	3.0	2.0	1670	$2,300	$1.38	5d	1	1.25mi
6422 Quartet St Unit Na Mascotte, FL	3.0	2.0	1766	$2,395	$1.36	7d	1	1.44mi
6952 Church Lake St Groveland, FL	3.0	2.0	1510	$2,600	$1.72	119d	1	1.48mi

Property features AI

Finance

Other: Lease restrictions applyHome warranty included
Financial info: Other annual assessment: $1,045Monthly HOA amount: $264Total annual fees: $3,168
HOA & community: HOA required (monthly fee $264)Association approval requiredAssociation amenities: playground, poolAssociation fee includes internet, grounds maintenance, otherCommunity features: community mailbox, dog park, reclaimed water irrigation, playground, pool, sidewalksPets allowed with breed restrictions

Exterior

Parking: DrivewayAttached garage, 1 car
Utilities: Public waterPublic sewerCable connectedNatural gas connectedUnderground utilities
Home design: Townhouse (attached)Two levelsSoutheast-facingCompleted condition
Construction: Block, stucco, and vinyl siding constructionShingle roofSlab foundationNew constructionBuilt by Taylor Morrison (Builder model: Jasmine)
Exterior features: PatioSliding doorsPaved road accessLot approx. 0.05 acres

Interior

Kitchen: DishwasherMicrowaveRangeRefrigeratorElectric water heater
Bedrooms: 3 bedrooms
Flooring: CarpetTile
Bathrooms: 2 full baths1 half bath
Heating & cooling: Electric heatingCentral air conditioning
Interior features: Walk-in closet(s)Great Room
Laundry & utility: Washer hookupDryer hookup (electric)Inside laundryLaundry closetUpper-level laundry

HOA detail $264/mo · $3,168/yr

Likely covers: waterpool

Listing history 41 events

2026-07-18

days on market $285,000 Active 157 DOM
2026-07-18

days on market $285,000 Active 156 DOM
2026-07-16

days on market $285,000 Active 155 DOM
2026-07-15

days on market $285,000 Active 154 DOM
2026-07-14

days on market $285,000 Active 153 DOM
2026-07-13

days on market $285,000 Active 152 DOM
2026-07-13

days on market $285,000 Active 151 DOM
2026-07-11

days on market $285,000 Active 150 DOM
2026-07-10

days on market $285,000 Active 149 DOM
2026-07-09

days on market $285,000 Active 148 DOM
2026-07-07

days on market $285,000 Active 146 DOM
2026-07-06

days on market $285,000 Active 145 DOM
2026-07-05

days on market $285,000 Active 144 DOM
2026-07-03

days on market $285,000 Active 142 DOM
2026-07-02

days on market $285,000 Active 141 DOM
2026-07-01

days on market $285,000 Active 140 DOM
2026-06-30

days on market $285,000 Active 139 DOM
2026-06-29

days on market $285,000 Active 138 DOM
2026-06-28

days on market $285,000 Active 137 DOM
2026-06-27

days on market $285,000 Active 136 DOM
2026-06-26

days on market $285,000 Active 135 DOM
2026-06-24

days on market $285,000 Active 133 DOM
2026-06-22

days on market $285,000 Active 131 DOM
2026-06-21

days on market $285,000 Active 130 DOM
2026-06-18

days on market $285,000 Active 127 DOM
2026-06-17

days on market $285,000 Active 126 DOM
2026-06-16

days on market $285,000 Active 125 DOM
2026-06-15

days on market $285,000 Active 124 DOM
2026-06-13

days on market $285,000 Active 122 DOM
2026-06-09

days on market $285,000 Active 118 DOM
2026-06-08

days on market $285,000 Active 117 DOM
2026-06-07

days on market $285,000 Active 116 DOM
2026-06-04

pricedays on market $285,000 Active 113 DOM
2026-06-03

days on market $290,000 Active 112 DOM
2026-06-02

days on market $290,000 Active 111 DOM
2026-06-02

days on market $290,000 Active 110 DOM
2026-05-31

days on market $290,000 Active 109 DOM
2026-02-13

price $290,000 1506-char remark

Show marketing remark (1506 chars)

This model home purchase includes our Model Leaseback Program. * This program is perfect for buyers who want to purchase now but aren't ready to move. Contact seller for more term details on leasing your home back. When the lease is up, you move in! Model leaseback terms vary by model home. Please see a Community Sales Manager for additional details. Restrictions may apply. * Welcome to the Jasmine at 7603 Waterscape Drive in Waterstone Townhomes. This inviting model townhome offers approx. 1,404 square feet with an open great room and a bright kitchen centered around a spacious island that feels perfect for everyday meals and easy gatherings. The first level also features a cozy outdoor patio, a convenient half bath, and a one car garage. Upstairs, you'll find two comfortable bedrooms with a full bath, along with a relaxing primary suite that includes a walk in closet and double vanity bathroom. The laundry area is upstairs for added ease, and thoughtful storage fills the home with a large pantry, under stair storage, and a linen closet. Located in Groveland just minutes from Clermont, Waterstone Townhomes offers a friendly community feel with planned amenities including a pool with cabana, dog park, Nature Play Space and Monarch Butterfly Gardens. Additional Highlights Include: washer, dryer, GE refrigerator, whole house blinds, quartz countertops. mls#A4682168 * Model Home Prices exclude furniture, decorative accessories, and closing costs and already include any lot premi
2026-02-12

price $290,000
2026-02-11

listed $300,920 Active
2026-02-06

listed $300,920 Active 1506-char remark

Show marketing remark (1506 chars)

This model home purchase includes our Model Leaseback Program. * This program is perfect for buyers who want to purchase now but aren't ready to move. Contact seller for more term details on leasing your home back. When the lease is up, you move in! Model leaseback terms vary by model home. Please see a Community Sales Manager for additional details. Restrictions may apply. * Welcome to the Jasmine at 7603 Waterscape Drive in Waterstone Townhomes. This inviting model townhome offers approx. 1,404 square feet with an open great room and a bright kitchen centered around a spacious island that feels perfect for everyday meals and easy gatherings. The first level also features a cozy outdoor patio, a convenient half bath, and a one car garage. Upstairs, you'll find two comfortable bedrooms with a full bath, along with a relaxing primary suite that includes a walk in closet and double vanity bathroom. The laundry area is upstairs for added ease, and thoughtful storage fills the home with a large pantry, under stair storage, and a linen closet. Located in Groveland just minutes from Clermont, Waterstone Townhomes offers a friendly community feel with planned amenities including a pool with cabana, dog park, Nature Play Space and Monarch Butterfly Gardens. Additional Highlights Include: washer, dryer, GE refrigerator, whole house blinds, quartz countertops. mls#A4682168 * Model Home Prices exclude furniture, decorative accessories, and closing costs and already include any lot premi

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $27,567
− Mortgage interest: −$15,964
− Property taxes: −$4,275
− Insurance: −$1,425
− Repairs & maintenance: −$2,205
− Management: −$2,205
− HOA: −$3,168
− Depreciation: −$8,291
Taxable loss: −$9,967

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$2,392
After-tax cash flow: $-2,633/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 · 13 photos

Excellent 95/100 None rehab

This model townhome is in excellent condition with no visible repairs or maintenance needed. It offers a well-maintained kitchen, bathrooms, and exterior, making it an attractive option for both resale and rental.

Value-add opportunities

Both Painting the exterior siding and updating the landscaping — Painting the exterior siding and updating the landscaping can enhance the curb appeal and increase the property's value for both resale and rental. ↑

F Composite school gradezoned avg 38/100

Zoned Schools

Elementary Groveland Elementary School F FL #1,854/2,144 Nat'l #26,096/41,679 Middle Gray Middle School D FL #310/571 Nat'l #4,622/14,009 High South Lake High School F FL #336/667 Nat'l #8,937/17,239

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

B Composite livability gradescore 71/100

Livability — Mascotte

Score: 71/100
State rank: #405
US rank: #7156

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Mascotte, FL
County: Lake County · 386,640 people
City population: 33,565
Metro: Orlando-Kissimmee-Sanford, FL
Population (ZIP): 28,001
Household income: $90,545
Rent vs Own: 11.3% rent · 88.7% own
Severe rent burden: 0% of renters

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: Diverse neighborhood (Simpson 0.65)
Race & ethnicity: White 52% Hispanic / Latino 25% Two or more races 17% Black 15% Asian 4%
Hispanic origin (detail): Mexican 3% Puerto Rican 15% Cuban 2%
Common ancestry: Romanian 2% Hispanic 2% Lithuanian 1%
Foreign-born: 13% · Canada, Guatemala
Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -77.23%
Current HPI: 265.3457
Rent YoY: ▲ 1.67%
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
#159 Carrier Global Palm Beach Gardens $22.2B #376 Roper Technologies Sarasota $6.8B
Insurance	2	$17B
#348 Fidelity National Financial Jacksonville $12.1B #494 Brown & Brown Daytona Beach $4.6B
Retail	1	$60B
#71 Publix Super Markets Lakeland $60.2B
Technology Distribution	1	$58B
#73 TD Synnex Clearwater $58.5B
Homebuilding	1	$35B
#185 Lennar Miami $35.4B
Technology Manufacturing	1	$35B
#122 Jabil St. Petersburg $34.7B

Price history

-3.6% since first listed

4 events — show timeline

2026-02-13 Price Changed $290,000 Zillow
2026-02-12 Price Changed $290,000 Stellar MLS as Distributed by MLS Grid
2026-02-11 Listed $300,920 Stellar MLS as Distributed by MLS Grid
2026-02-06 Listed $300,920 Zillow

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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