13142 Grape Ave · Eustis, FL 32735

$154,900

2 bd · 2.0 ba · 1,152 sqft · Manufactured · 121 Days on market

Built 2026

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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 +15.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.4/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Appreciation +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

55+ age qualified community. COMING SOON! Currently under construction. Welcome to Grand Island Resort a 55+ age-qualified active and vibrant community, where you can find yourself in your dream home. We are located between Eustis and Leesburg off of state road 44 on beautiful Lake Eustis. . We are excited to offer a brand new 2026 2 bed, 2 bath home for sale, featuring approximately 1152.00 sq ft of thoughtfully designed living space. Located in Grand Island, this soon-to-be-completed property will offer the perfect blend of modern design and timeless comfort. Construction is underway, and soon you'll be able to Step inside to find an open-concept floor plan, and lots of natural light. The

Key facts

• Custom cabinetry
• Large front porch
• Private boat launch

Tags

• OPEN-CONCEPT FLOOR PLAN
• ENERGY EFFICIENT APPLIANCES
• CUSTOM CABINETRY
• LARGE FRONT PORCH
• CRYSTAL CLEAR SWIMMING POOL
• PRIVATE BOAT LAUNCH

Property features AI

Finance

• Financial info: List price $154,900

Exterior

• Home design: Single-family property
• Construction: Built 2026 (new construction spec)
• Exterior features: Living area approximately 1,152

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Spec home — Geneva - Craft Select plan; Active listing

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $75 ($894/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 $145k (6.4% below list).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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-, schools D+, amenities 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: 76 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 121 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

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 $136,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.06%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.0%
• Equity multiple: 0.53×
• Total profit: $-20,332
• Equity at exit: $23,096

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-11,503
• Equity at exit: $13,393

Cash invested: $43,372 (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 32735

• Home prices YoY: -1.5%
• Active inventory: 76
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,449 high
• Mortgage (P&I): −$812
• Tax est. 1.5%: −$194 /mo · $2,324/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $75

Break-even live

Break-even rent $1,355

Max offer price $154,900

Occupancy floor 90%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13122 Grape Ave Grand Island, FL	3.0	2.0	1123	$1,299	$1.16	16d	1	0.05mi
36116 Plum Ave Grand Island, FL	2.0	2.0	1372	$1,299	$0.95	12d	1	0.09mi
36126 Plum Ave Grand Island, FL	3.0	2.0	1393	$1,599	$1.15	14d	1	0.10mi
13124 Lemon Ave Grand Island, FL	2.0	2.0	1216	$1,399	$1.15	12d	1	0.12mi
13228 Grand Terrace Dr Grand Island, FL	3.0	1.0	1296	$1,900	$1.47	14d	1	0.31mi
35901 Joewood Ave Leesburg, FL	3.0	2.0	1483	$2,100	$1.42	17d	1	1.15mi
35689 Rose Moss Ave Leesburg, FL	3.0	2.0	1270	$1,800	$1.42	5d	1	1.29mi
35229 Orange Grove Ln Leesburg, FL	2.0	1.0	1194	$1,400	$1.17	24d	1	1.42mi

Listing history 13 events

1. 2026-06-18
   days on market $154,900 Active 121 DOM
2. 2026-06-17
   days on market $154,900 Active 120 DOM
3. 2026-06-16
   days on market $154,900 Active 119 DOM
4. 2026-06-15
   days on market $154,900 Active 118 DOM
5. 2026-06-13
   days on market $154,900 Active 116 DOM
6. 2026-06-09
   days on market $154,900 Active 112 DOM
7. 2026-06-08
   days on market $154,900 Active 111 DOM
8. 2026-06-07
   days on market $154,900 Active 110 DOM
9. 2026-06-04
   days on market $154,900 Active 107 DOM
10. 2026-06-03
    days on market $154,900 Active 106 DOM
11. 2026-06-02
    days on market $154,900 Active 105 DOM
12. 2026-06-02
    days on market $154,900 Active 104 DOM
13. 2026-05-31
    days on market $154,900 Active 103 DOM

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 21 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: $17,393
• − Mortgage interest: −$8,677
• − Property taxes: −$2,324
• − Insurance: −$774
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$4,506
• Taxable loss: −$1,671
• Est. tax savings @ 24.0%: +$401
• After-tax cash flow: $1,295/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

• City population: 24,715
• Population (ZIP): 5,346

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 (78%)
• Race & ethnicity: White 78% Two or more races 8% Black 7% Asian 4% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Lithuanian 2% Danish 1%
• Foreign-born: 7% · Canada
• Languages at home: 96% English-only · Other Indo-European 3% Spanish 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: ▼ -4.00%
• Current HPI: 267.8376
• 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