1704 Lilly Ln · Lady Lake, FL 32159

$194,900

2 bd · 2.0 ba · 1,324 sqft · Manufactured public records · 23 Days on market

Built 1986 6,820 sqft lot Est $207k · 6% under $204/mo HOA · 10% of rent

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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 +19.3/30.0
• ARV discount +10.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.7/10.0
• 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

Under contract-accepting backup offers. NO BOND! Roof 2025, A/C 2021, with a 10 year warranty. 1704 Lilly Lane is located in a prime spot within The Villages, especially for those who want that perfect balance of a quiet residential street and quick access to the "real world" amenities along Highway 441. Since this home is fully furnished and move-in ready, it's an ideal "turnkey" opportunity for anyone looking to jump straight into the lifestyle. Here is a breakdown of why this specific location is so desirable: Key Property & Community Highlights Location Strategy: Being close to 441 is a major plus. It puts you minutes away from major shopping (Target, Ho

Key facts

• Swimming pools
• Hallmark amenities
• Fully furnished

Tags

• QUIET RESIDENTIAL STREET
• FULLY FURNISHED
• TURNKEY OPPORTUNITY
• GATED SENIOR COMMUNITY
• HALLMARK AMENITIES
• SWIMMING POOLS

Property features AI

Finance

• Other: Furnished; Homestead exempt
• Financial info: Total monthly fees listed as $204 (total annual fees $2,448)
• HOA & community: Community amenities include clubhouse, fitness center, pool, tennis courts, racquetball, pickleball courts, dog park, sidewalks, street lights, golf and golf cart access, recreation facilities, gated areas, wheelchair access and special community restrictions; Senior community

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public sewer; Water available and connected; Electricity available and connected; Cable connected; Phone available; Underground utilities; Sprinkler meter
• Home design: Manufactured double-wide home; Single-story; One level; Faces southeast
• Construction: Metal frame and wood frame construction; Shingle roof; Crawlspace/other foundation; Built as a manufactured home
• Exterior features: Awnings; Exterior lighting; Asphalt and concrete road access; Lot approximately 0.16 acre (dimensions 89 x 90)

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Hardwood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (heat pump); Central air; Attic fan
• Interior features: Eat-in kitchen; Laundry closet and dedicated laundry room; Five total rooms
• Laundry & utility: Laundry closet; Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $192k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% 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.
• Zoned schools: The Villages Elementary of Lady Lake School (math 63% / reading 61%, grade B, #608 of 2,144 statewide, top 29%, 761 students, 61% FRL); Leesburg High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,641 students, 58% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 576 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 43% of the median local income ($59k/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 $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 23 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $114k; list at $195k implies a 71% 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 $191,976 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.07% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.70%
• DSCR: 1.21
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $206,544
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
809 Orchid St	0.39mi	2/2.0	1,342 (+1%)	2mo	$209,000	$156	78
729 Camelia Ct	0.61mi	2/2.0	1,352 (+2%)	2mo	$185,000	$137	66
1613 Bay Meadows Ln	0.57mi	2/2.0	1,384 (+4%)	4mo	$225,000	$163	63
813 Saint Andrews Blvd	0.36mi	2/2.0	1,191 (-10%)	6mo	$152,000	$128	61

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: -7.7%
• Equity multiple: 0.71×
• Total profit: $-15,696
• Equity at exit: $29,060

10-year hold

• IRR: 3.2%
• Equity multiple: 1.24×
• Total profit: $13,353
• Equity at exit: $16,851

Cash invested: $54,572 (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: 7.8×

Monthly cashflow live

• Estimated rent: $2,083 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$125 /mo · $1,497/yr
• Insurance: −$81
• HOA: −$204
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $214

Break-even live

Break-even rent $1,813

Max offer price $194,900

Occupancy floor 85%

Sensitivity live

Price	-10% $324	-5% $269	+0% $214	+5% $159	+10% $104
Rent	-10% $49	-5% $132	+0% $214	+5% $296	+10% $378
Rate	-1.0pp $312	-0.5pp $263	base $214	+0.5pp $163	+1.0pp $112

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1614 Kiley Ct Unit 1545709P Lady Lake, FL	2.0	2.0	1593	$3,452	$2.17	17d	1	0.23mi
909 Orchid St Lady Lake, FL	2.0	1.0	936	$1,600	$1.71	24d	1	0.26mi
1532 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1092	$2,950	$2.70	24d	1	0.35mi
1715 Pebble Beach Ln Lady Lake, FL	2.0	2.0	1040	$3,500	$3.37	24d	1	0.41mi
1430 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1377	$2,500	$1.82	24d	1	0.44mi
1540 Hillcrest Dr Lady Lake, FL	2.0	2.0	1200	$1,600	$1.33	24d	1	0.49mi
13765 NE 136th Loop Lady Lake, FL	1.0–3.0	1.0–2.0	1078	$1,639	$1.52	21d	36	0.53mi
739 Heathrow Ave Lady Lake, FL	2.0	2.0	1040	$2,250	$2.16	2d	1	0.55mi
13740 Lead LN The Villages, FL	1.0–3.0	1.0–2.0	1029	$1,720	$1.67	21d	38	0.55mi
1401 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1552	$1,999	$1.29	24d	1	0.56mi
17951 SE 115th Cir Summerfield, FL	3.0	2.0	1829	$2,100	$1.15	14d	1	0.66mi
17408 SE 121st Cir Summerfield, FL	3.0	2.0	1733	$1,850	$1.07	21d	1	0.69mi
17472 SE 121st Cir Summerfield, FL	3.0	2.0	1330	$1,950	$1.47	14d	1	0.88mi
1314 Corona Ave Lady Lake, FL	2.0	2.0	1656	$2,500	$1.51	21d	1	0.93mi
1214 Dustin Dr Lady Lake, FL	2.0	2.0	1040	$1,400	$1.35	24d	1	0.95mi
703 Royal Palm Ave Lady Lake, FL	3.0	2.0	1730	$2,600	$1.50	22d	1	0.97mi
640 Rainbow Blvd Lady Lake, FL	2.0	2.0	1600	$1,900	$1.19	24d	1	1.04mi
1222 Palmetto Dr Lady Lake, FL	2.0	2.0	1248	$1,700	$1.36	24d	1	1.20mi
13957 County Road 109D Lady Lake, FL	2.0	2.0	1482	$1,650	$1.11	21d	1	1.25mi
617 Webb Way Lady Lake, FL	2.0	2.0	1542	$3,000	$1.95	24d	1	1.26mi
13904 County Road 109D Lady Lake, FL	3.0	2.0	1568	$1,550	$0.99	21d	1	1.26mi
602 Jason Dr Lady Lake, FL	3.0	2.0	1726	$1,650	$0.96	24d	1	1.27mi
943 Mendoza Blvd Lady Lake, FL	2.0	2.0	1268	$5,800	$4.57	24d	1	1.29mi
1377 Camero Dr Lady Lake, FL	3.0	2.0	1462	$5,500	$3.76	21d	1	1.34mi
1304 Santa Rosa Ct Lady Lake, FL	2.0	2.0	1286	$4,500	$3.50	21d	1	1.41mi
1824 Marion County Rd Weirsdale, FL	2.0	2.0	1064	$1,500	$1.41	24d	1	1.47mi

HOA detail

• Monthly dues: $204 · $2,448/yr

Listing history 13 events

1. 2026-06-07
   statusdays on market $194,900 Pending 23 DOM
2. 2026-06-04
   days on market $194,900 Active 21 DOM
3. 2026-06-03
   days on market $194,900 Active 20 DOM
4. 2026-06-02
   days on market $194,900 Active 19 DOM
5. 2026-06-01
   days on market $194,900 Active 18 DOM
6. 2026-06-01
   price $194,900 Active 17 DOM
7. 2026-05-31
   days on market $199,000 Active 17 DOM
8. 2026-05-14
   listed $199,000 Active
9. 2009-05-13
   soldstatus $114,100
10. 2000-12-19
    soldstatus $75,000
11. 2000-02-07
    soldstatus $72,000
12. 1998-08-24
    soldstatus $36,500
13. 1998-08-24
    soldstatus $36,500

ⓘ 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: $1,497 · $125/mo
• Projected year-2 tax: $1,618 · $135/mo
• Expected delta: +$120/yr (+$10/mo · 8.0%)

ⓘ 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 8/10 Severe 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,001
• − Mortgage interest: −$10,917
• − Property taxes: −$1,497
• − Insurance: −$974
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − HOA: −$2,448
• − Depreciation: −$5,670
• Taxable loss: −$506
• Est. tax savings @ 24.0%: +$121
• After-tax cash flow: $2,688/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

+445.2% since first listed

6 events — show timeline

• 2026-05-14 Listed $199,000 Stellar MLS as Distributed by MLS Grid
• 2009-05-13 Sold (Public Records) $114,100 Public Records
• 2000-12-19 Sold (Public Records) $75,000 Public Records
• 2000-02-07 Sold (Public Records) $72,000 Public Records
• 1998-08-24 Sold (Public Records) $36,500 Public Records
• 1998-08-24 Sold (Public Records) $36,500 Public Records

Property tax history

+6.7%/yr

Latest (2025): $1,497 · +22.8% YoY. Source: county tax records.