1215 E Hazzard Ave · Eustis, FL 32726

$224,500

3 bd · 1.5 ba · 1,092 sqft · SingleFamily public records · 184 Days on market

Built 1986 8,712 sqft lot Est $248k · 9% under

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Why this score? — see what drove the D+ 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 +12.9/30.0
• ARV discount +11.7/15.0
• Schools +4.2/10.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic 3/1.5 move-in ready block home. Built in 1986 with NEW A/C and water heater in 2018! Centrally located near Downtown Eustis, Ferran Park, restaurants and shopping.

Key facts

• 8,712 sq ft lot
• Garage
• Built 1986

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $224k.

Deal economics

• At list price, monthly cash flow is $-16 ($-196/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (17.6% below list).
• Recommended offer: $185k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.5% in Eustis — 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 73/100 on livability (#309 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, 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: Eustis Elementary School (math 52% / reading 47%, grade D, #1,088 of 2,144 statewide, top 53%, 358 students, 65% FRL); Eustis Middle School (math 45% / reading 41%, grade D-, #331 of 571 statewide, top 59%, 824 students, 57% FRL); Eustis High School (math 33% / reading 40%, grade F, #351 of 667 statewide, top 54%, 1,368 students, 45% FRL).
• Market conditions: Rents rising (+3.2%/yr); 311 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 35% 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 $2k of loan paydown is wiped out by about $7k 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 184 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,083 (17.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
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 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.31%
• DSCR: 0.99
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $247,884
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Kensington St	0.24mi	3/1.0	1,000 (-8%)	7mo	$150,000	$150	67
1529 E Mcdonald Ave	0.32mi	3/1.0	999 (-8%)	23mo	$250,000	$250	50
1515 Washington Ave	0.73mi	3/1.0	1,056 (-3%)	12mo	$240,000	$227	48
1905 Selleen Dr	0.68mi	3/1.0	1,169 (+7%)	12mo	$225,000	$192	44

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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.41×
• Total profit: $-37,061
• Equity at exit: $33,474

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-32,140
• Equity at exit: $19,411

Cash invested: $62,860 (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 32726

• Home prices YoY: -21.3%
• Rents YoY: 3.2%
• Active inventory: 311
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,851 high
• Mortgage (P&I): −$1,177
• Tax from tax record: −$208 /mo · $2,491/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-16

Break-even live

Break-even rent $1,871

Max offer price $221,620

Occupancy floor 96%

Sensitivity live

Price	-10% $111	-5% $47	+0% $-16	+5% $-80	+10% $-143
Rent	-10% $-163	-5% $-89	+0% $-16	+5% $57	+10% $130
Rate	-1.0pp $97	-0.5pp $41	base $-16	+0.5pp $-74	+1.0pp $-134

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: $56,125
• Closing costs: $6,735
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
612 Kensington St Eustis, FL	3.0	1.5	1400	$1,900	$1.36	25d	1	0.10mi
925 E McDonald Ave Eustis, FL	2.0	2.0	867	$1,550	$1.79	25d	1	0.27mi
1701 E Orange Ave Eustis, FL	3.0	3.0	1439	$1,645	$1.14	16d	1	0.46mi
1701 E Orange Ave Eustis, FL	3.0	2.5–3.0	1439	$1,645	$1.14	25d	2	0.46mi
11 Oak Ct Eustis, FL	2.0–3.0	2.0–3.0	1492	$2,375	$1.59	5d	10	0.51mi
528 Citrus Ave Unit 1 Eustis, FL	3.0	2.0	1168	$1,700	$1.46	6d	1	0.59mi
204 E Gottsche Ave Eustis, FL	2.0	2.0	1125	$1,525	$1.36	25d	3	0.63mi
923 N Grove St Eustis, FL	3.0	2.0	1200	$1,920	$1.60	25d	1	0.73mi
116 Dewitt Ct Eustis, FL	3.0	2.0	1299	$1,890	$1.45	25d	1	0.73mi
116 Dewitt Ct Unit 116 Eustis, FL	3.0	2.0	1296	$1,850	$1.43	19d	1	0.73mi
623 N Bay St Unit 11 Eustis, FL	2.0	2.0	1200	$1,300	$1.08	12d	1	0.76mi
374 Willow Song Ct Eustis, FL	3.0	2.0	1250	$1,750	$1.40	6d	1	0.83mi
374 Willow Song Ct Eustis, FL	3.0	2.0	1250	$1,750	$1.40	23d	1	0.83mi
2225 Grant Ave Eustis, FL	3.0	2.0	1050	$1,900	$1.81	25d	1	0.86mi
375 Willow Song Ct Eustis, FL	3.0	2.0	1370	$1,950	$1.42	6d	1	0.86mi
910 Kentucky Blvd Eustis, FL	3.0	2.0	1327	$1,910	$1.44	14d	1	0.94mi
617 Ohio Blvd Eustis, FL	2.0	1.0	840	$1,400	$1.67	4d	1	1.01mi
910 S Center St Unit 6 Eustis, FL	2.0	1.0	841	$1,299	$1.54	25d	1	1.08mi
902 S Grove St Eustis, FL	3.0	1.0	1389	$1,350	$0.97	25d	1	1.15mi
1124 Virginia Ct Eustis, FL	2.0	1.5	900	$1,750	$1.94	25d	1	1.16mi
77 Wildwood Ln Eustis, FL	2.0	1.0	720	$1,197	$1.66	25d	1	1.20mi
101 E Atwater Ave Eustis, FL	3.0	2.0	1200	$1,900	$1.58	25d	1	1.40mi
1799 N County Road 19A Eustis, FL	1.0–3.0	1.0–2.0	950	$1,800	$1.89	3d	1	1.43mi
710 Harvard Ct Eustis, FL	3.0	2.0	1260	$1,700	$1.35	5d	1	1.47mi
131 W Atwater Ave Eustis, FL	3.0	1.0	1400	$2,100	$1.50	25d	1	1.49mi

Listing history 11 events

1. 2024-02-21
   soldstatus $220,000
2. 2024-01-10
   status Pending
3. 2023-11-15
   price $224,500
4. 2023-11-01
   price $234,900
5. 2023-09-14
   price $239,900
6. 2023-07-10
   listed $249,900 Active
7. 2019-04-09
   soldstatus $103,900
8. 2019-04-08
   soldstatus $103,900 Sold 173-char remark

   Show marketing remark (173 chars)

   Fantastic 3/1.5 move-in ready block home. Built in 1986 with NEW A/C and water heater in 2018! Centrally located near Downtown Eustis, Ferran Park, restaurants and shopping.

9. 2019-03-11
   status Pending 173-char remark

   Show marketing remark (173 chars)

   Fantastic 3/1.5 move-in ready block home. Built in 1986 with NEW A/C and water heater in 2018! Centrally located near Downtown Eustis, Ferran Park, restaurants and shopping.

10. 2019-02-04
    listed $103,900 Active 173-char remark

    Show marketing remark (173 chars)

    Fantastic 3/1.5 move-in ready block home. Built in 1986 with NEW A/C and water heater in 2018! Centrally located near Downtown Eustis, Ferran Park, restaurants and shopping.

11. 2006-04-11
    soldstatus $80,000

ⓘ 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: $2,491 · $208/mo
• Projected year-2 tax: $2,491 · $208/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 ≥108°F today · 22 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: $22,210
• − Mortgage interest: −$12,575
• − Property taxes: −$2,491
• − Insurance: −$1,122
• − Repairs & maintenance: −$1,777
• − Management: −$1,777
• − Depreciation: −$6,531
• Taxable loss: −$4,064
• Est. tax savings @ 24.0%: +$975
• After-tax cash flow: $780/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 — Eustis

• Score: 73/100
• State rank: #309
• US rank: #5286

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eustis, FL
• County: Lake County · 364,602 people
• City population: 24,715
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 24,715
• Household income: $63,152
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 584.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Black 19% Hispanic / Latino 17% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 4%
• Common ancestry: Hispanic 2% Romanian 2% Lithuanian 2%
• Foreign-born: 14% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 10% French/Haitian/Cajun 3% 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: ▼ -88.12%
• Current HPI: 325.4692
• Rent YoY: ▲ 3.20%
• 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

+175.0% since first listed

11 events — show timeline

• 2024-02-21 Sold (Public Records) $220,000 Public Records
• 2024-01-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-11-15 Price Changed $224,500 Stellar MLS as Distributed by MLS Grid
• 2023-11-01 Price Changed $234,900 Stellar MLS as Distributed by MLS Grid
• 2023-09-14 Price Changed $239,900 Stellar MLS as Distributed by MLS Grid
• 2023-07-10 Listed $249,900 Stellar MLS as Distributed by MLS Grid
• 2019-04-09 Sold (Public Records) $103,900 Public Records
• 2019-04-08 Sold (MLS) $103,900 Stellar MLS as Distributed by MLS Grid
• 2019-03-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-02-04 Listed $103,900 Stellar MLS as Distributed by MLS Grid
• 2006-04-11 Sold (Public Records) $80,000 Public Records

Property tax history

+6.6%/yr

Latest (2024): $2,491 · +8.0% YoY. Source: county tax records.