1100 E Caroline St #119 · Tavares, FL 32778

$87,000

2 bd · 1.5 ba · 992 sqft · Condo public records · 5 Days on market

Built 1973 $300/mo HOA · 18% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Super Affordable Rare Find: This is the only 2 full bedroom and 2 full bathroom condo available in Tavares Lakeview Condos! Welcome home to this rare, move-in-ready bottom-floor corner unit in the desirable Tavares Lakeview Condos. This super affordable condo is perfect for first-time buyers or anyone seeking low-maintenance lakeside living in Central Florida. Step inside this bright and comfortable home featuring brand-NEW windows that floods the space with natural light and fresh air. Roof is 2024 and the electricals and water heater are less than a year old. The corner location provides extra privacy and windows, making it feel more like a single-family home than a condo. Just a short w

Key facts

• Centralized spot
• Chain of lakes
• Community pool

Tags

• BOTTOM-FLOOR CORNER UNIT
• BRAND-NEW WINDOWS
• COMMUNITY POOL
• CENTRALIZED SPOT
• CHAIN OF LAKES

Property features AI

Finance

• Financial info: Total monthly fees: $300; Total annual fees: $3,600; Lease restrictions apply
• HOA & community: Monthly HOA $300; HOA covers common area taxes, pool, escrow reserves, insurance, structure maintenance, grounds maintenance, management, pest control; Association approval required; Deed restrictions; Community pool; Sidewalks; Cats and dogs allowed

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Cable available; Broadband/high-speed internet available; Water connected; Sewer connected
• Home design: Residential condominium; One-level unit (floor 1); Faces east
• Construction: Block construction; Shingle roof; Slab foundation; Built as part of a 2-story building
• Exterior features: Lighting; Sidewalk; Storage

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floorplan; Solid surface counters; Thermostat; Double pane windows
• Laundry & utility: Outside laundry; Irrigation equipment

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $87k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $87k).
• Cap rate 12.0% vs local median 4.5% in Tavares — 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 76/100 on livability (#220 in FL, #3,464 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing 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: Tavares Elementary School (math 49% / reading 45%, grade D-, #1,191 of 2,144 statewide, top 57%, 875 students, 61% FRL); Tavares High School (math 32% / reading 40%, grade F, #359 of 667 statewide, top 55%, 1,507 students, 45% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents rising fast (+4.0%/yr); 501 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/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 $601 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 13y 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 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.95% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.49%
• DSCR: 1.91
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.05% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.59×
• Total profit: $14,436
• Equity at exit: $12,972

10-year hold

• IRR: 24.4%
• Equity multiple: 3.27×
• Total profit: $55,202
• Equity at exit: $7,522

Cash invested: $24,360 (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 32778

• Home prices YoY: -23.4%
• Rents YoY: 4.0%
• Active inventory: 501
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,698 high
• Mortgage (P&I): −$456
• Tax from tax record: −$133 /mo · $1,596/yr
• Insurance: −$36
• HOA: −$300
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $416

Break-even live

Break-even rent $1,172

Max offer price $87,000

Occupancy floor 70%

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
380 Dora Ave Tavares, FL	2.0	1.0	750	$1,399	$1.87	14d	1	0.16mi
1403 E Alfred St Unit 200 Tavares, FL	2.0	1.5	1000	$2,000	$2.00	17d	1	0.19mi
743 E Alfred St Tavares, FL	2.0	1.0	1000	$1,450	$1.45	23d	1	0.25mi
807 McLain Ct Tavares, FL	2.0	2.0	1104	$1,700	$1.54	16d	1	0.30mi
542 E Caroline St Tavares, FL	2.0	1.0	812	$1,400	$1.72	23d	1	0.42mi
822 N New Hampshire Ave Tavares, FL	1.0	1.0	600	$1,200	$2.00	23d	1	0.77mi
701 N New Hampshire Ave Unit 4 Tavares, FL	2.0	1.0	672	$1,100	$1.64	23d	1	0.77mi
1105 N Rockingham Ave Tavares, FL	2.0	2.0	806	$1,650	$2.05	5d	1	0.82mi
1632 Tudor Ln Unit 1632 Tavares, FL	2.0	2.0	1047	$1,595	$1.52	17d	1	0.92mi
123 N Lake Ave Tavares, FL	2.0	1.0	1120	$1,595	$1.42	23d	1	1.27mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $87,000 Active 5 DOM
2. 2026-06-17
   days on market $87,000 Active 4 DOM
3. 2026-06-16
   days on market $87,000 Active 3 DOM
4. 2026-06-15
   days on market $87,000 Active 2 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $87,000 Active 1 DOM

ⓘ 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: $1,596 · $133/mo
• Projected year-2 tax: $1,596 · $133/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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $20,378
• − Mortgage interest: −$4,873
• − Property taxes: −$1,596
• − Insurance: −$435
• − Repairs & maintenance: −$1,630
• − Management: −$1,630
• − HOA: −$3,600
• − Depreciation: −$2,531
• Taxable income: $4,082
• Est. tax owed @ 24.0%: −$980
• After-tax cash flow: $4,013/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 — Tavares

• Score: 76/100
• State rank: #220
• US rank: #3464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tavares, FL
• County: Lake County · 364,602 people
• City population: 25,042
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 25,042
• Household income: $63,472
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 586.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 8% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Cuban 2% Dominican 1%
• Common ancestry: Romanian 4% Italian 3% Slovak 2%
• Foreign-born: 9% · Canada, Dominican Republic, Jamaica
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Other Asian/Pacific 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: ▼ -88.07%
• Current HPI: 288.7123
• Rent YoY: ▲ 4.05%
• 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

+74.3% since first listed

24 events — show timeline

• 2026-06-13 Listed $87,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-11-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-02 Price Changed $79,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-30 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-09-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-09-10 Price Changed $99,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-07 Price Changed $104,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-06-03 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-05-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-05-03 Price Changed $108,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-12 Price Changed $115,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-17 Price Changed $119,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-24 Price Changed $122,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-10 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2025-01-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-01-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-01-06 Price Changed $115,000 Stellar MLS as Distributed by MLS Grid
• 2024-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-08-12 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 2014-06-23 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-06-23 Listed $42,500 Stellar MLS as Distributed by MLS Grid
• 2013-07-19 Listed $49,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+7.0%/yr

Latest (2025): $1,596 · +4.7% YoY. Source: county tax records.