1116 W Boone Ct · Lady Lake, FL 32159

$189,700

2 bd · 2.0 ba · 1,144 sqft · Manufactured public records · 76 Days on market

Built 1989 5,400 sqft lot Est $255k · 26% under $155/mo HOA · 7% of rent

---

Why this score? — see what drove the C+ 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 +19.7/30.0
• ARV discount +15.0/15.0
• 1% rule +6.6/10.0
• DSCR +6.2/10.0
• Schools +4.2/10.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

.As you enter this Beautiful well maintained Manufactured home you will notice Drywall throughout, double pane windows, large master with spacious entryway and walk-in closet, Berber carpet, clean bathrooms. The exterior is nicely landscaped with matured landscaping. The driveway offers plenty of space for parking when friends are visiting or just for you to enjoy. The home has a nice utility room with the golf cart garage included which is such a nice feature to keep your golf cart clean and polished. .. .

Key facts

• No bond
• Quiet cul-de-sac
• Leasing permitted

Tags

• QUIET CUL-DE-SAC
• NO BOND
• LEASING PERMITTED

Property features AI

Finance

• Other: Property taxed (amounts available in records); No lease restrictions reported; Homestead-exempt
• Financial info: Total monthly fees reported as $155; Total annual fees reported as $1,860
• HOA & community: HOA: The Villages Central Management (monthly fee $155); Senior community; Pets allowed with restrictions (cats and dogs allowed; breed and number limits apply)

Exterior

• Parking: Attached garage; 1-car garage; 1-car carport; Golf cart garage
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Phone available; Sewer connected
• Home design: Residential modular home; One story; North-facing
• Construction: Vinyl siding; Metal roof; Other foundation
• Exterior features: Paved road access; 60 x 90 lot dimensions

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Range; Refrigerator; Carpet flooring
• Laundry & utility: Laundry area in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $178k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.1% 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.
• Market conditions: Rents rising fast (+4.0%/yr); 576 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• At $2,200/mo this rent would consume 45% of the median local household income ($59k/yr) (locally 1047% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 76 days — a 6% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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.
• Current owner paid $124k; list at $190k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,318 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 1.16% ✓
• Cap rate: 7.70%
• Cash-on-cash: 5.04%
• DSCR: 1.22
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $255,112
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1620 W Schwartz Blvd	0.26mi	2/2.0	1,008 (-12%)	0mo	$225,000	$223	68
813 Saint Andrews Blvd	0.49mi	2/2.0	1,191 (+4%)	6mo	$152,000	$128	65
814 Orchid St	0.72mi	2/2.0	1,040 (-9%)	3mo	$260,000	$250	49

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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-14,069
• Equity at exit: $28,285

10-year hold

• IRR: 4.0%
• Equity multiple: 1.31×
• Total profit: $16,339
• Equity at exit: $16,402

Cash invested: $53,116 (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 32159

• Home prices YoY: -16.0%
• Rents YoY: 4.0%
• Active inventory: 576
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,200 high
• Mortgage (P&I): −$995
• Tax from tax record: −$286 /mo · $3,428/yr
• Insurance: −$79
• HOA: −$155
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $223

Break-even live

Break-even rent $1,917

Max offer price $189,700

Occupancy floor 85%

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: $47,425
• Closing costs: $5,691
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1430 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1377	$2,500	$1.82	24d	1	0.03mi
1532 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1092	$2,950	$2.70	24d	1	0.14mi
13740 Lead LN The Villages, FL	1.0–3.0	1.0–2.0	1029	$1,720	$1.67	21d	38	0.50mi
13765 NE 136th Loop Lady Lake, FL	1.0–3.0	1.0–2.0	1078	$1,639	$1.52	21d	36	0.55mi
739 Heathrow Ave Lady Lake, FL	2.0	2.0	1040	$2,250	$2.16	2d	1	0.60mi
909 Orchid St Lady Lake, FL	2.0	1.0	936	$1,600	$1.71	24d	1	0.67mi
1540 Hillcrest Dr Lady Lake, FL	2.0	2.0	1200	$1,600	$1.33	24d	1	0.68mi
1715 Pebble Beach Ln Lady Lake, FL	2.0	2.0	1040	$3,500	$3.37	24d	1	0.72mi
1214 Dustin Dr Lady Lake, FL	2.0	2.0	1040	$1,400	$1.35	24d	1	0.89mi
943 Mendoza Blvd Lady Lake, FL	2.0	2.0	1268	$5,800	$4.57	24d	1	0.91mi
1304 Santa Rosa Ct Lady Lake, FL	2.0	2.0	1286	$4,500	$3.50	21d	1	1.01mi
1377 Camero Dr Lady Lake, FL	3.0	2.0	1462	$5,500	$3.76	21d	1	1.05mi
1524 Martinez Dr Lady Lake, FL	2.0	2.0	1199	$2,095	$1.75	21d	1	1.11mi
13957 County Road 109D Lady Lake, FL	2.0	2.0	1482	$1,650	$1.11	21d	1	1.15mi
17472 SE 121st Cir Summerfield, FL	3.0	2.0	1330	$1,950	$1.47	14d	1	1.19mi
1222 Palmetto Dr Lady Lake, FL	2.0	2.0	1248	$1,700	$1.36	24d	1	1.21mi
932 Chula Ct Lady Lake, FL	2.0	2.0	1346	$3,000	$2.23	3d	1	1.28mi
716 Dominguez Dr Lady Lake, FL	2.0	2.0	1094	$2,450	$2.24	21d	1	1.31mi
628 Dominguez Dr Lady Lake, FL	2.0	2.0	1214	$2,245	$1.85	21d	1	1.39mi
722 Camino del Rey Dr Lady Lake, FL	3.0	2.0	1205	$2,000	$1.66	21d	1	1.43mi
613 Enconto St Unit 1525268P The Villages, FL	2.0	2.0	1097	$1,788	$1.63	21d	1	1.47mi

HOA detail

• Monthly dues: $155 · $1,860/yr
• Likely covers: landscapingparking

Listing history 20 events

1. 2026-06-18
   days on market $189,700 Active 76 DOM
2. 2026-06-17
   days on market $189,700 Active 75 DOM
3. 2026-06-16
   days on market $189,700 Active 74 DOM
4. 2026-06-15
   days on market $189,700 Active 73 DOM
5. 2026-06-13
   days on market $189,700 Active 71 DOM
6. 2026-06-09
   days on market $189,700 Active 67 DOM
7. 2026-06-08
   days on market $189,700 Active 66 DOM
8. 2026-06-07
   days on market $189,700 Active 65 DOM
9. 2026-06-04
   days on market $189,700 Active 62 DOM
10. 2026-06-03
    days on market $189,700 Active 61 DOM
11. 2026-06-02
    days on market $189,700 Active 60 DOM
12. 2026-06-01
    days on market $189,700 Active 59 DOM
13. 2026-05-31
    days on market $189,700 Active 58 DOM
14. 2026-04-03
    listed $189,700 Active
15. 2017-08-15
    soldstatus $124,500
16. 2017-08-10
    soldstatus $124,500 Sold 512-char remark

    Show marketing remark (512 chars)

    .As you enter this Beautiful well maintained Manufactured home you will notice Drywall throughout, double pane windows, large master with spacious entryway and walk-in closet, Berber carpet, clean bathrooms. The exterior is nicely landscaped with matured landscaping. The driveway offers plenty of space for parking when friends are visiting or just for you to enjoy. The home has a nice utility room with the golf cart garage included which is such a nice feature to keep your golf cart clean and polished. .. .

17. 2017-06-25
    status Pending 512-char remark

    Show marketing remark (512 chars)

    .As you enter this Beautiful well maintained Manufactured home you will notice Drywall throughout, double pane windows, large master with spacious entryway and walk-in closet, Berber carpet, clean bathrooms. The exterior is nicely landscaped with matured landscaping. The driveway offers plenty of space for parking when friends are visiting or just for you to enjoy. The home has a nice utility room with the golf cart garage included which is such a nice feature to keep your golf cart clean and polished. .. .

18. 2017-04-09
    listed $124,500 Active 512-char remark

    Show marketing remark (512 chars)

    .As you enter this Beautiful well maintained Manufactured home you will notice Drywall throughout, double pane windows, large master with spacious entryway and walk-in closet, Berber carpet, clean bathrooms. The exterior is nicely landscaped with matured landscaping. The driveway offers plenty of space for parking when friends are visiting or just for you to enjoy. The home has a nice utility room with the golf cart garage included which is such a nice feature to keep your golf cart clean and polished. .. .

19. 2000-05-01
    soldstatus $77,000
20. 1989-10-01
    soldstatus $75,500

ⓘ 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: $3,428 · $286/mo
• Projected year-2 tax: $3,428 · $286/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 21 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,395
• − Mortgage interest: −$10,626
• − Property taxes: −$3,428
• − Insurance: −$948
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − HOA: −$1,860
• − Depreciation: −$5,519
• Taxable loss: −$210
• Est. tax savings @ 24.0%: +$50
• After-tax cash flow: $2,728/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 — 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 · 364,602 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: 1047.0

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: 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%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1% 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: ▼ -45.24%
• Current HPI: 237.6208
• Rent YoY: ▲ 4.03%
• 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

+151.3% since first listed

7 events — show timeline

• 2026-04-03 Listed $189,700 Stellar MLS as Distributed by MLS Grid
• 2017-08-15 Sold (Public Records) $124,500 Public Records
• 2017-08-10 Sold (MLS) $124,500 Stellar MLS as Distributed by MLS Grid
• 2017-06-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-04-09 Listed $124,500 Stellar MLS as Distributed by MLS Grid
• 2000-05-01 Sold (Public Records) $77,000 Public Records
• 1989-10-01 Sold (Public Records) $75,500 Public Records

Property tax history

+15.5%/yr

Latest (2025): $3,428 · +11.1% YoY. Source: county tax records.