21128 Niles Ave · Mount Dora, FL 32757

$235,000

2 bd · 2.0 ba · 1,413 sqft · Manufactured public records · 1 Days on market

Built 1984 0.45 ac lot

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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 +19.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Does the year built say 1984 it should say 1999 at lease!!! Great manufactured Home Completely Remodeled.

Key facts

• 0.45 acre lot
• Built 1984

Property features AI

Finance

• Other: Total living area reported as 1,413 square feet; Building area reported as 2,641 square feet; Lot size approximately 0.45 acres (about 1/4 to less than 1/2 acre)
• Financial info: Homestead exempt
• HOA & community: No HOA/association

Exterior

• Parking: No specific parking details provided
• Utilities: Well water; Septic system; Electricity available; Cable available; Broadband/high-speed internet available
• Home design: Manufactured home (double wide); One story; North-facing
• Construction: Vinyl siding and frame construction; Metal roof; Crawlspace foundation; Built as a double wide manufactured home
• Exterior features: Covered patio/porch; Deck; Front porch; Storage shed(s); Workshop; Chain link fencing; Cleared, level lot; Oversized lot; Unpaved areas; Located in county/unincorporated area; Paved road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Thermostat
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $235k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (6.7% below list).
• Recommended offer: $219k (6.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.3% in Mount Dora — 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 75/100 on livability (#244 in FL, #3,860 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime 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.
• Market conditions: Rents flat; 639 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 34% of the median local income ($77k/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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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 $100k; list at $235k implies a 135% 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 5→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,254 (6.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.93% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.95%
• DSCR: 1.22
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.55% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.60×
• Total profit: $-26,136
• Equity at exit: $35,039

10-year hold

• IRR: -5.6%
• Equity multiple: 0.68×
• Total profit: $-21,384
• Equity at exit: $20,319

Cash invested: $65,800 (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 →

ZIP-level market 32757

• Home prices YoY: -34.5%
• Rents YoY: 0.6%
• Active inventory: 639
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,193 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$130 /mo · $1,565/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $271

Break-even live

Break-even rent $1,849

Max offer price $235,000

Occupancy floor 83%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
764 Chacall Loop Mount Dora, FL	3.0	2.0	1600	$2,400	$1.50	21d	1	0.96mi
764 Chacall Loop Mount Dora, FL	3.0	2.0	1566	$2,400	$1.53	11d	1	0.96mi
155 Veranda Way Mount Dora, FL	1.0–2.0	1.0–2.0	785	$1,748	$2.23	2d	12	1.17mi

Listing history 7 events

1. 2026-05-20
   status Pending
2. 2026-05-20
   listed $235,000 Active
3. 2006-03-01
   soldstatus $100,000 105-char remark

   Show marketing remark (105 chars)

   Does the year built say 1984 it should say 1999 at lease!!! Great manufactured Home Completely Remodeled.

4. 2005-09-13
   listed $113,000 105-char remark

   Show marketing remark (105 chars)

   Does the year built say 1984 it should say 1999 at lease!!! Great manufactured Home Completely Remodeled.

5. 2005-09-12
   historical
6. 2004-12-23
   listed $139,900
7. 1991-04-01
   soldstatus $54,500

ⓘ 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: $1,565 · $130/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$386/yr (+$32/mo · 24.7%)

ⓘ 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 5 d/yr ≥108°F today · 16 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: $26,310
• − Mortgage interest: −$13,164
• − Property taxes: −$1,565
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,105
• − Management: −$2,105
• − Depreciation: −$6,836
• Taxable loss: −$639
• Est. tax savings @ 24.0%: +$153
• After-tax cash flow: $3,411/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 — Mount Dora

• Score: 75/100
• State rank: #244
• US rank: #3860

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 364,602 people
• City population: 34,121
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 34,121
• Household income: $77,216
• Rent vs Own: 26.5% rent · 73.5% own
• Severe rent burden: 998.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 20% Black 12% Two or more races 11% Pacific Islander 1% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 14% 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: ▼ -154.69%
• Current HPI: 293.4759
• Rent YoY: ▲ 0.55%
• 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

+331.2% since first listed

7 events — show timeline

• 2026-05-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-20 Listed $235,000 Stellar MLS as Distributed by MLS Grid
• 2006-03-01 Sold (MLS) $100,000 Stellar MLS as Distributed by MLS Grid
• 2005-09-13 Listed $113,000 Stellar MLS as Distributed by MLS Grid
• 2005-09-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2004-12-23 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 1991-04-01 Sold (Public Records) $54,500 Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,565 · +3.2% YoY. Source: county tax records.