2118 Canopy Cir · Zellwood, FL 32798

$110,000

2 bd · 2.0 ba · 1,616 sqft · SingleFamily · 162 Days on market

Built 1985 6,006 sqft lot Est $181k · 39% under $415/mo HOA · 32% 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).

• ARV discount +15.0/15.0
• Cash flow +7.5/30.0
• 1% rule +6.9/10.0
• Appreciation +6.3/10.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0

Listing remarks MLS

This is a diamond in the rough! Needs TLC and elbow grease, but has tons of potential! Popular pet section of community. Ample square footage. Formal living and family rooms. Center island kitchen with eating counter and smooth top stove. Two screen porches, two outside storage sheds. No neighbors in rear. A/C and roof both replaced in 2003. Great opportunity is waiting!

Key facts

• Hardwood flooring
• Four swimming pools
• Gated golf community

Tags

• GATED GOLF COMMUNITY
• HARDWOOD FLOORING
• HARD SURFACE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• CHAMPIONSHIP GOLF COURSE
• FOUR SWIMMING POOLS

Property features AI

Finance

• Other: Unfurnished; Association contact listed
• Financial info: Total monthly fees $415; total annual fees $4,980; Lease restrictions apply
• HOA & community: Has HOA (monthly fee $415); Association amenities include clubhouse, fitness center, gated entry, golf course, pickleball courts, pool, recreation facilities, security, shuffleboard courts, and tennis courts; Association fee includes 24-hour guard, cable TV, pool, internet, and grounds maintenance; Association approval required; Senior community; Pets allowed; Deed restrictions and buyer approval required; Golf carts allowed

Exterior

• Parking: Carport (1 space)
• Security: Gated community
• Utilities: Public water; Public sewer; Broadband/high-speed internet available; Cable available and connected; Electricity connected; Underground utilities; Fire hydrant nearby; Irrigation equipment
• Home design: Manufactured single wide home; Residential property; One level; Faces east; Located in a gated community
• Construction: Metal frame and frame construction; Metal roof; Built on crawlspace
• Exterior features: Deck; Patio; Porch; Screened porch; Sliding doors; Shed(s); Mature landscaping; Greenbelt; Paved and private lot; Concrete road surface; Lake access

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Crawlspace foundation
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Laundry in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $-139 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $90k (18.3% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $90k (18.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 75/100 on livability (#248 in FL, #3,918 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute D-, health & safety D-.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Zellwood Elementary (math 38% / reading 40%, grade F, #1,560 of 2,144 statewide, top 73%, 493 students, 55% FRL); Wolf Lake Middle (math 57% / reading 52%, grade B-, #183 of 571 statewide, top 34%, 1,194 students, 45% FRL); Apopka High (math 19% / reading 47%, grade F, #406 of 667 statewide, top 61%, 3,507 students, 42% FRL).
• Market conditions: 104 active listings in the ZIP; 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($761 loan paydown + $3k appreciation (2.5% local appreciation)).
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $35k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $110k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,882 (18.3% 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 162 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.19% ✓
• Cap rate: 4.78%
• Cash-on-cash: -5.42%
• DSCR: 0.76
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $180,992
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2024 Canopy Cir #147	0.06mi	2/2.0	1,630 (+1%)	23mo	$182,000	$112	77

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.06×
• Total profit: $1,803
• Equity at exit: $46,409

10-year hold

• IRR: 5.1%
• Equity multiple: 1.74×
• Total profit: $22,862
• Equity at exit: $69,235

Cash invested: $30,800 (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 32798

• Home prices YoY: 1.0%
• Active inventory: 104
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,312 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$415
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $-139

Break-even live

Break-even rent $1,488

Max offer price $89,882

Occupancy floor —

Sensitivity live

Price	-10% $-63	-5% $-101	+0% $-139	+5% $-177	+10% $-215
Rent	-10% $-243	-5% $-191	+0% $-139	+5% $-87	+10% $-35
Rate	-1.0pp $-84	-0.5pp $-111	base $-139	+0.5pp $-168	+1.0pp $-197

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $415 · $4,980/yr

Listing history 22 events

1. 2026-06-17
   status $110,000 Pending 162 DOM
2. 2026-06-17
   days on market $110,000 Active 162 DOM
3. 2026-06-16
   days on market $110,000 Active 161 DOM
4. 2026-06-15
   days on market $110,000 Active 160 DOM
5. 2026-06-13
   days on market $110,000 Active 158 DOM
6. 2026-06-13
   days on market $110,000 Active 157 DOM
7. 2026-06-09
   days on market $110,000 Active 154 DOM
8. 2026-06-08
   days on market $110,000 Active 153 DOM
9. 2026-06-07
   days on market $110,000 Active 152 DOM
10. 2026-06-04
    days on market $110,000 Active 149 DOM
11. 2026-06-03
    days on market $110,000 Active 148 DOM
12. 2026-06-02
    days on market $110,000 Active 147 DOM
13. 2026-06-02
    days on market $110,000 Active 146 DOM
14. 2026-05-31
    days on market $110,000 Active 145 DOM
15. 2026-05-12
    price $110,000
16. 2026-04-01
    price $117,500
17. 2026-03-08
    status Active
18. 2026-03-05
    status Pending
19. 2026-01-27
    price $125,000
20. 2026-01-03
    listed $145,000 Active
21. 2008-05-30
    soldstatus $55,000 376-char remark

    Show marketing remark (376 chars)

    This is a diamond in the rough! Needs TLC and elbow grease, but has tons of potential! Popular pet section of community. Ample square footage. Formal living and family rooms. Center island kitchen with eating counter and smooth top stove. Two screen porches, two outside storage sheds. No neighbors in rear. A/C and roof both replaced in 2003. Great opportunity is waiting!

22. 2008-03-24
    listed $59,900 376-char remark

    Show marketing remark (376 chars)

    This is a diamond in the rough! Needs TLC and elbow grease, but has tons of potential! Popular pet section of community. Ample square footage. Formal living and family rooms. Center island kitchen with eating counter and smooth top stove. Two screen porches, two outside storage sheds. No neighbors in rear. A/C and roof both replaced in 2003. Great opportunity is waiting!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,739
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − HOA: −$4,980
• − Depreciation: −$3,200
• Taxable loss: −$3,321
• Est. tax savings @ 24.0%: +$797
• After-tax cash flow: $-871/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: Orange
• NCES district ID: 1201440
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $49,350
• Composite: 41.47/100
• National rank: #3461
• State rank: #43 of 73 in FL

Livability — Zellwood

• Score: 75/100
• State rank: #248
• US rank: #3918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zellwood, FL
• City population: 2,159
• Population (ZIP): 2,159

Population outlook (Orange County) Hauer SSP2

• Today (2025): 1,618,226 people
• By 2030: 1,787,404 · +10.5%
• By 2040: 2,125,621 · +31.4%
• By 2050: 2,454,016 · +51.6%
• By 2075: 3,173,711 · +96.1%
• By 2100: 3,607,781 · +122.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Iranian 5% Lithuanian 5% Romanian 2%
• Foreign-born: 5%
• Languages at home: 89% English-only · Spanish 9% German/W. Germanic 3%

Political lean MEDSL · Orange

• 2024 margin: D (+13.6) · D 56.1% · R 42.5% · Other 1.3%
• 2008→2024 swing: -5.0pp toward R · 2008: 18.6pp · 2024: 13.6pp
• All cycles: 2024: D+13.6 2020: D+23.1 2016: D+24.6 2012: D+18.2 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.50%
• Current HPI: 254.7681
• Rent YoY: —
• Metro: —
• 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

+83.6% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $110,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-01 Price Changed $117,500 Stellar MLS as Distributed by MLS Grid
• 2026-03-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-27 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-03 Listed $145,000 Stellar MLS as Distributed by MLS Grid
• 2008-05-30 Sold (MLS) $55,000 Stellar MLS as Distributed by MLS Grid
• 2008-03-24 Listed $59,900 Stellar MLS as Distributed by MLS Grid