304 Ivanhoe Cir · Lady Lake, FL 32159

$139,900

2 bd · 2.0 ba · 1,168 sqft · Manufactured public records · 75 Days on market

Built 1979 0.34 ac lot Est $128k · 9% over $16/mo HOA · 1% 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 +26.1/30.0
• DSCR +8.8/10.0
• 1% rule +6.3/10.0
• Schools +4.2/10.0
• ARV discount +3.5/15.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PICK ME. This home in located in one of the best-hidden secrets in Lady Lake – OAK GROVE subdivision a 55+ mobile home community. This lovely 2 bedroom 2 bath home features a spacious living room, front lanai with lots of light streaming in the many windows, Kitchen with breakfast area along with roomy bedrooms and baths. Other features include a back lanai to enjoy the outdoors, a covered carport and attached storage with inside laundry. Close to shopping, restaurants and The Villages. If you are looking for affordable Florida Lifestyle, here it is. Being sold AS IS with right to inspect. Home is where your story begins. Let me help you start a new Chapter.

Key facts

• Bonus florida room
• Attached storage
• 0.34 acre lot

Tags

• BONUS FLORIDA ROOM
• CATHEDRAL ALUMINUM CEILING
• OVERSIZED COVERED CARPORT
• ATTACHED STORAGE
• CONVENIENT LAUNDRY ROOM

Property features AI

Finance

• Other: Unfurnished; Directions provided for property access
• Financial info: $1,102.28 annual tax (2025)
• HOA & community: Has HOA (Oak Grove HOA) with annual fee of $200 (approx. $16.67/month); Deed-restricted community; Senior community; Pets allowed

Exterior

• Parking: Carport with space for 2 vehicles
• Utilities: Public water; Septic tank; Electricity connected
• Home design: Manufactured double-wide home; One story; East-facing
• Construction: Vinyl siding; Roof over; Crawlspace foundation; Building area (per public records): 1,804 total; 1,168 living
• Exterior features: Other exterior features; Mature landscaping; Paved road access; Level lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Ductless heating option; Central air conditioning
• Interior features: Ceiling fans; Blinds; Florida room (additional living space)
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $-73 ($-872/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (9.2% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.2% below list) — sets the bar for cash-flow.
• Cap rate 9.3% 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.
• Market conditions: Rents rising fast (+4.0%/yr); 583 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 33% 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 $967 of loan paydown is wiped out by about $4k 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 75 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $140k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $127,059 (9.2% 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 75 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.13% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.84%
• DSCR: 1.48
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $128,480
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
336 Ivanhoe Cir	0.18mi	2/2.0	1,150 (-2%)	8mo	$126,000	$110	83

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: -18.2%
• Equity multiple: 0.35×
• Total profit: $-25,393
• Equity at exit: $20,860

10-year hold

• IRR: -7.6%
• Equity multiple: 0.49×
• Total profit: $-20,117
• Equity at exit: $12,096

Cash invested: $39,172 (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: 583
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,587 high
• Mortgage (P&I): −$734
• Tax from tax record: −$92 /mo · $1,102/yr
• Insurance: −$58
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$16
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $-73

Break-even live

Break-even rent $1,679

Max offer price $127,059

Occupancy floor 100%

Sensitivity live

Price	-10% $7	-5% $-33	+0% $-73	+5% $-112	+10% $-152
Rent	-10% $-198	-5% $-135	+0% $-73	+5% $-10	+10% $53
Rate	-1.0pp $-2	-0.5pp $-37	base $-73	+0.5pp $-109	+1.0pp $-146

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
367 Sunny Oaks Way Lady Lake, FL	2.0–3.0	1.5–2.0	1265	$1,455	$1.15	4d	17	0.32mi
409 Bay Oak Ln Lady Lake, FL	3.0	2.0	1380	$1,950	$1.41	5d	1	0.33mi
101 Caroline Ave Lady Lake, FL	2.0	2.0	924	$1,400	$1.52	12d	1	0.48mi
606 Second Ave Lady Lake, FL	2.0	2.0	1230	$1,800	$1.46	6d	1	0.51mi
102 Sue Ln Lady Lake, FL	2.0	1.5	873	$1,499	$1.72	25d	2	0.60mi
224 W McClendon St Lady Lake, FL	2.0	1.0	877	$1,500	$1.71	25d	1	0.62mi
735 S Highway 27/441 Lady Lake, FL	1.0–4.0	1.0–3.0	1022	$1,321	$1.29	4d	36	0.77mi
216 Magnolia Dr Lady Lake, FL	2.0–3.0	2.0	1248	$1,499	$1.20	3d	1	1.00mi
423 Highway 466 Lady Lake, FL	1.0–3.0	1.0–2.0	1172	$1,584	$1.35	3d	22	1.01mi
316 E Primrose Ln Lady Lake, FL	3.0	1.5	1000	$1,295	$1.29	25d	1	1.19mi

HOA detail

• Monthly dues: $16 · $192/yr

Listing history 29 events

1. 2026-06-21
   days on market $139,900 Active 75 DOM
2. 2026-06-18
   days on market $139,900 Active 72 DOM
3. 2026-06-17
   days on market $139,900 Active 71 DOM
4. 2026-06-16
   days on market $139,900 Active 70 DOM
5. 2026-06-15
   days on market $139,900 Active 69 DOM
6. 2026-06-13
   days on market $139,900 Active 67 DOM
7. 2026-06-09
   days on market $139,900 Active 63 DOM
8. 2026-06-08
   days on market $139,900 Active 62 DOM
9. 2026-06-07
   days on market $139,900 Active 61 DOM
10. 2026-06-04
    days on market $139,900 Active 58 DOM
11. 2026-06-03
    days on market $139,900 Active 57 DOM
12. 2026-06-02
    days on market $139,900 Active 56 DOM
13. 2026-06-02
    price $139,900 Active 55 DOM
14. 2026-06-01
    days on market $149,900 Active 55 DOM
15. 2026-05-31
    days on market $149,900 Active 54 DOM
16. 2026-04-16
    status Active
17. 2026-03-18
    status Pending
18. 2026-03-09
    listed $149,900 Active
19. 2017-03-23
    soldstatus $50,000
20. 2017-03-20
    soldstatus $50,000 Sold 672-char remark

    Show marketing remark (672 chars)

    PICK ME. This home in located in one of the best-hidden secrets in Lady Lake – OAK GROVE subdivision a 55+ mobile home community. This lovely 2 bedroom 2 bath home features a spacious living room, front lanai with lots of light streaming in the many windows, Kitchen with breakfast area along with roomy bedrooms and baths. Other features include a back lanai to enjoy the outdoors, a covered carport and attached storage with inside laundry. Close to shopping, restaurants and The Villages. If you are looking for affordable Florida Lifestyle, here it is. Being sold AS IS with right to inspect. Home is where your story begins. Let me help you start a new Chapter.

21. 2017-03-10
    status Pending 672-char remark

    Show marketing remark (672 chars)

    PICK ME. This home in located in one of the best-hidden secrets in Lady Lake – OAK GROVE subdivision a 55+ mobile home community. This lovely 2 bedroom 2 bath home features a spacious living room, front lanai with lots of light streaming in the many windows, Kitchen with breakfast area along with roomy bedrooms and baths. Other features include a back lanai to enjoy the outdoors, a covered carport and attached storage with inside laundry. Close to shopping, restaurants and The Villages. If you are looking for affordable Florida Lifestyle, here it is. Being sold AS IS with right to inspect. Home is where your story begins. Let me help you start a new Chapter.

22. 2017-02-19
    listed $58,000 Active 672-char remark

    Show marketing remark (672 chars)

    PICK ME. This home in located in one of the best-hidden secrets in Lady Lake – OAK GROVE subdivision a 55+ mobile home community. This lovely 2 bedroom 2 bath home features a spacious living room, front lanai with lots of light streaming in the many windows, Kitchen with breakfast area along with roomy bedrooms and baths. Other features include a back lanai to enjoy the outdoors, a covered carport and attached storage with inside laundry. Close to shopping, restaurants and The Villages. If you are looking for affordable Florida Lifestyle, here it is. Being sold AS IS with right to inspect. Home is where your story begins. Let me help you start a new Chapter.

23. 2007-01-26
    soldstatus $51,500
24. 2007-01-23
    soldstatus $51,500 202-char remark

    Show marketing remark (202 chars)

    So much home. Two bedroom, two bath, enclosed room with walk-in closet, windowed screen room utility shed with washer. dryer and laundry tub, plus workshop area. Home backs to retention pond. . Carport.

25. 2007-01-23
    soldstatus $51,500

    Show marketing remark (202 chars)

    So much home. Two bedroom, two bath, enclosed room with walk-in closet, windowed screen room utility shed with washer. dryer and laundry tub, plus workshop area. Home backs to retention pond. . Carport.

26. 2006-10-16
    listed $59,900 202-char remark

    Show marketing remark (202 chars)

    So much home. Two bedroom, two bath, enclosed room with walk-in closet, windowed screen room utility shed with washer. dryer and laundry tub, plus workshop area. Home backs to retention pond. . Carport.

27. 2006-10-16
    listed $59,900

    Show marketing remark (202 chars)

    So much home. Two bedroom, two bath, enclosed room with walk-in closet, windowed screen room utility shed with washer. dryer and laundry tub, plus workshop area. Home backs to retention pond. . Carport.

28. 2006-09-22
    historical
29. 2006-01-18
    listed $69,000

ⓘ 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: $1,102 · $92/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$59/yr (+$5/mo · 5.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,043
• − Mortgage interest: −$7,837
• − Property taxes: −$1,102
• − Insurance: −$5,818
• − Repairs & maintenance: −$1,523
• − Management: −$1,523
• − HOA: −$192
• − Depreciation: −$4,070
• Taxable loss: −$3,023
• Est. tax savings @ 24.0%: +$725
• After-tax cash flow: $-147/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

+117.2% since first listed

14 events — show timeline

• 2026-04-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-09 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2017-03-23 Sold (Public Records) $50,000 Public Records
• 2017-03-20 Sold (MLS) $50,000 Stellar MLS as Distributed by MLS Grid
• 2017-03-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-02-19 Listed $58,000 Stellar MLS as Distributed by MLS Grid
• 2007-01-26 Sold (Public Records) $51,500 Public Records
• 2007-01-23 Sold (MLS) $51,500 Stellar MLS as Distributed by MLS Grid
• 2007-01-23 Sold (MLS) $51,500 Stellar MLS as Distributed by MLS Grid
• 2006-10-16 Listed $59,900 Stellar MLS as Distributed by MLS Grid
• 2006-10-16 Listed $59,900 Stellar MLS as Distributed by MLS Grid
• 2006-09-22 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2006-01-18 Listed $69,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+13.6%/yr

Latest (2025): $1,102 · +5.4% YoY. Source: county tax records.