508 Delta Ave · Groveland, FL 34736

$319,900

4 bd · 2.0 ba · 2,104 sqft · SingleFamily public records · 13 Days on market

Built 2017 6,250 sqft lot Est $398k · 20% under $131/mo HOA · 5% of rent ↓ 37% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +11.3/30.0
• Schools +4.2/10.0
• 1% rule +3.7/10.0
• Livability +3.5/5.0
• DSCR +3.3/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Functionality meets beauty in the Santa Rosa by LGI Homes, located within the picturesque community of Crestridge at Estates at Cherry Lake. This new, gorgeous one story home features an open concept living area, 4 bedrooms and 2 full bathrooms, complete with over $10,000 in upgrades including all energy efficient kitchen appliances, spacious granite countertops, custom wood cabinets, beautiful tile floors, brushed nickel hardware and an attached two car garage. The Santa Rosa showcases a master suite complete with a walk-in closet and a double-sink vanity, a separate laundry room, fully landscaped front yard, and fully sodded backyard. In addition, Crestridge at Estates at Cherry Lake offers residents numerous amenities including community parks, conservation areas and lakes, nature preserves and trails, and world class water recreation.

Key facts

• 6,250 sq ft lot
• 2 garage spots
• Built 2017

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $299k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $278k (13.2% below list).
• Recommended offer: $278k (13.2% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.0% in Groveland — 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 70/100 on livability (#416 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A-, crime B+; Watch: 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: South Lake High School (math 36% / reading 39%, grade F, #336 of 667 statewide, top 51%, 2,169 students, 40% FRL).
• Zoned-school proficiency averages 38% at this address vs 50% district-wide (-12 pts) — the specific schools serving this property underperform the Lake average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.7%/yr); 585 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 37% of the median local income ($91k/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 $10k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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 $253k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $277,559 (13.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.87% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.55%
• DSCR: 0.93
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $397,656
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
917 Tundra Loop	0.71mi	4/3.0	2,175 (+3%)	2mo	$385,990	$177	56
1020 Calico Pointe Cir	0.48mi	4/2.0	1,848 (-12%)	2mo	$349,000	$189	56
909 Tundra Loop	0.73mi	4/3.0	2,175 (+3%)	3mo	$400,000	$184	54
105 Blackstone Creek Rd	0.34mi	4/2.0	1,869 (-11%)	24mo	$350,000	$187	46
195 Puma Loop	0.72mi	4/2.0	1,860 (-12%)	18mo	$390,240	$210	32
182 Puma Loop	0.69mi	4/3.0	2,359 (+12%)	17mo	$500,240	$212	30

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 · 1.67% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.30×
• Total profit: $-62,775
• Equity at exit: $47,698

10-year hold

• IRR: -16.8%
• Equity multiple: 0.12×
• Total profit: $-78,390
• Equity at exit: $27,659

Cash invested: $89,572 (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 34736

• Home prices YoY: -22.5%
• Rents YoY: 1.7%
• Active inventory: 585
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,776 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$367 /mo · $4,399/yr
• Insurance: −$133
• HOA: −$131
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $-116

Break-even live

Break-even rent $2,922

Max offer price $299,448

Occupancy floor 99%

Sensitivity live

Price	-10% $65	-5% $-25	+0% $-116	+5% $-206	+10% $-297
Rent	-10% $-335	-5% $-225	+0% $-116	+5% $-6	+10% $103
Rate	-1.0pp $45	-0.5pp $-34	base $-116	+0.5pp $-199	+1.0pp $-283

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
166 Dakota Ave Groveland, FL	4.0	2.0	2184	$1,200	$0.55	13d	1	0.29mi
904 Laurel View Way Groveland, FL	4.0	2.0	1884	$2,450	$1.30	24d	1	0.29mi
176 Dakota Ave Groveland, FL	3.0	2.0	1792	$2,249	$1.26	5d	1	0.32mi
210 Blackstone Creek Rd Groveland, FL	3.0	2.0	1448	$2,099	$1.45	24d	1	0.45mi
9752 Black Walnut Dr Clermont, FL	5.0	3.0	2674	$3,200	$1.20	24d	1	0.79mi
9488 Black Walnut Dr Clermont, FL	3.0	2.0	1690	$2,400	$1.42	24d	1	0.91mi
9673 Black Walnut Dr Clermont, FL	4.0	2.5	2505	$2,900	$1.16	24d	1	0.94mi
9673 Black Walnut Dr Unit NA Groveland, FL	4.0	2.5	2505	$2,800	$1.12	15d	1	0.94mi
275 Puma Loop Groveland, FL	4.0	2.0	1708	$2,400	$1.41	13d	1	0.95mi
339 Puma Loop Groveland, FL	4.0	3.0	2109	$2,950	$1.40	24d	1	1.02mi

HOA detail

• Monthly dues: $131 · $1,572/yr
• Likely covers: water

Listing history 19 events

1. 2026-03-12
   status Pending
2. 2026-02-27
   listed $319,900 Active
3. 2026-02-16
   status Pending
4. 2026-01-26
   price $334,900
5. 2026-01-13
   price $339,900
6. 2026-01-02
   price $344,900
7. 2025-12-12
   price $349,900
8. 2025-12-01
   price $354,900
9. 2025-11-17
   price $359,900
10. 2025-10-29
    listed $365,000 Active
11. 2019-05-02
    soldstatus $252,900 Sold 850-char remark

    Show marketing remark (850 chars)

    Functionality meets beauty in the Santa Rosa by LGI Homes, located within the picturesque community of Crestridge at Estates at Cherry Lake. This new, gorgeous one story home features an open concept living area, 4 bedrooms and 2 full bathrooms, complete with over $10,000 in upgrades including all energy efficient kitchen appliances, spacious granite countertops, custom wood cabinets, beautiful tile floors, brushed nickel hardware and an attached two car garage. The Santa Rosa showcases a master suite complete with a walk-in closet and a double-sink vanity, a separate laundry room, fully landscaped front yard, and fully sodded backyard. In addition, Crestridge at Estates at Cherry Lake offers residents numerous amenities including community parks, conservation areas and lakes, nature preserves and trails, and world class water recreation.

12. 2019-04-25
    status Pending 850-char remark

    Show marketing remark (850 chars)

    Functionality meets beauty in the Santa Rosa by LGI Homes, located within the picturesque community of Crestridge at Estates at Cherry Lake. This new, gorgeous one story home features an open concept living area, 4 bedrooms and 2 full bathrooms, complete with over $10,000 in upgrades including all energy efficient kitchen appliances, spacious granite countertops, custom wood cabinets, beautiful tile floors, brushed nickel hardware and an attached two car garage. The Santa Rosa showcases a master suite complete with a walk-in closet and a double-sink vanity, a separate laundry room, fully landscaped front yard, and fully sodded backyard. In addition, Crestridge at Estates at Cherry Lake offers residents numerous amenities including community parks, conservation areas and lakes, nature preserves and trails, and world class water recreation.

13. 2018-12-13
    price $266,900 850-char remark

    Show marketing remark (850 chars)

    Functionality meets beauty in the Santa Rosa by LGI Homes, located within the picturesque community of Crestridge at Estates at Cherry Lake. This new, gorgeous one story home features an open concept living area, 4 bedrooms and 2 full bathrooms, complete with over $10,000 in upgrades including all energy efficient kitchen appliances, spacious granite countertops, custom wood cabinets, beautiful tile floors, brushed nickel hardware and an attached two car garage. The Santa Rosa showcases a master suite complete with a walk-in closet and a double-sink vanity, a separate laundry room, fully landscaped front yard, and fully sodded backyard. In addition, Crestridge at Estates at Cherry Lake offers residents numerous amenities including community parks, conservation areas and lakes, nature preserves and trails, and world class water recreation.

14. 2018-11-30
    price $265,900 850-char remark

    Show marketing remark (850 chars)

    Functionality meets beauty in the Santa Rosa by LGI Homes, located within the picturesque community of Crestridge at Estates at Cherry Lake. This new, gorgeous one story home features an open concept living area, 4 bedrooms and 2 full bathrooms, complete with over $10,000 in upgrades including all energy efficient kitchen appliances, spacious granite countertops, custom wood cabinets, beautiful tile floors, brushed nickel hardware and an attached two car garage. The Santa Rosa showcases a master suite complete with a walk-in closet and a double-sink vanity, a separate laundry room, fully landscaped front yard, and fully sodded backyard. In addition, Crestridge at Estates at Cherry Lake offers residents numerous amenities including community parks, conservation areas and lakes, nature preserves and trails, and world class water recreation.

15. 2018-10-02
    status Active 850-char remark

    Show marketing remark (850 chars)

    Functionality meets beauty in the Santa Rosa by LGI Homes, located within the picturesque community of Crestridge at Estates at Cherry Lake. This new, gorgeous one story home features an open concept living area, 4 bedrooms and 2 full bathrooms, complete with over $10,000 in upgrades including all energy efficient kitchen appliances, spacious granite countertops, custom wood cabinets, beautiful tile floors, brushed nickel hardware and an attached two car garage. The Santa Rosa showcases a master suite complete with a walk-in closet and a double-sink vanity, a separate laundry room, fully landscaped front yard, and fully sodded backyard. In addition, Crestridge at Estates at Cherry Lake offers residents numerous amenities including community parks, conservation areas and lakes, nature preserves and trails, and world class water recreation.

16. 2018-09-27
    status Pending 850-char remark

    Show marketing remark (850 chars)

    Functionality meets beauty in the Santa Rosa by LGI Homes, located within the picturesque community of Crestridge at Estates at Cherry Lake. This new, gorgeous one story home features an open concept living area, 4 bedrooms and 2 full bathrooms, complete with over $10,000 in upgrades including all energy efficient kitchen appliances, spacious granite countertops, custom wood cabinets, beautiful tile floors, brushed nickel hardware and an attached two car garage. The Santa Rosa showcases a master suite complete with a walk-in closet and a double-sink vanity, a separate laundry room, fully landscaped front yard, and fully sodded backyard. In addition, Crestridge at Estates at Cherry Lake offers residents numerous amenities including community parks, conservation areas and lakes, nature preserves and trails, and world class water recreation.

17. 2018-08-31
    price $273,900 850-char remark

    Show marketing remark (850 chars)

    Functionality meets beauty in the Santa Rosa by LGI Homes, located within the picturesque community of Crestridge at Estates at Cherry Lake. This new, gorgeous one story home features an open concept living area, 4 bedrooms and 2 full bathrooms, complete with over $10,000 in upgrades including all energy efficient kitchen appliances, spacious granite countertops, custom wood cabinets, beautiful tile floors, brushed nickel hardware and an attached two car garage. The Santa Rosa showcases a master suite complete with a walk-in closet and a double-sink vanity, a separate laundry room, fully landscaped front yard, and fully sodded backyard. In addition, Crestridge at Estates at Cherry Lake offers residents numerous amenities including community parks, conservation areas and lakes, nature preserves and trails, and world class water recreation.

18. 2018-06-14
    listed $271,900 Active 850-char remark

    Show marketing remark (850 chars)

    Functionality meets beauty in the Santa Rosa by LGI Homes, located within the picturesque community of Crestridge at Estates at Cherry Lake. This new, gorgeous one story home features an open concept living area, 4 bedrooms and 2 full bathrooms, complete with over $10,000 in upgrades including all energy efficient kitchen appliances, spacious granite countertops, custom wood cabinets, beautiful tile floors, brushed nickel hardware and an attached two car garage. The Santa Rosa showcases a master suite complete with a walk-in closet and a double-sink vanity, a separate laundry room, fully landscaped front yard, and fully sodded backyard. In addition, Crestridge at Estates at Cherry Lake offers residents numerous amenities including community parks, conservation areas and lakes, nature preserves and trails, and world class water recreation.

19. 2016-10-17
    soldstatus $509,799

ⓘ 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: $4,399 · $367/mo
• Projected year-2 tax: $4,399 · $367/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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 25 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: $33,307
• − Mortgage interest: −$17,919
• − Property taxes: −$4,399
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,665
• − Management: −$2,665
• − HOA: −$1,572
• − Depreciation: −$9,306
• Taxable loss: −$6,818
• Est. tax savings @ 24.0%: +$1,636
• After-tax cash flow: $247/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 — Groveland

• Score: 70/100
• State rank: #416
• US rank: #7397

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Groveland, FL
• County: Lake County · 364,602 people
• City population: 28,001
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 28,001
• Household income: $90,545
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 216.0

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 0.65)
• Race & ethnicity: White 52% Hispanic / Latino 25% Two or more races 17% Black 15% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 15% Cuban 2%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 1%
• Foreign-born: 13% · Canada, Guatemala
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 2% 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: ▼ -77.23%
• Current HPI: 265.3457
• Rent YoY: ▲ 1.67%
• 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

-37.2% since first listed

19 events — show timeline

• 2026-03-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Listed $319,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-16 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-26 Price Changed $334,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-13 Price Changed $339,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-02 Price Changed $344,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-12 Price Changed $349,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $354,900 Stellar MLS as Distributed by MLS Grid
• 2025-11-17 Price Changed $359,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-29 Listed $365,000 Stellar MLS as Distributed by MLS Grid
• 2019-05-02 Sold (MLS) $252,900 Stellar MLS as Distributed by MLS Grid
• 2019-04-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-12-13 Price Changed $266,900 Stellar MLS as Distributed by MLS Grid
• 2018-11-30 Price Changed $265,900 Stellar MLS as Distributed by MLS Grid
• 2018-10-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2018-09-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-08-31 Price Changed $273,900 Stellar MLS as Distributed by MLS Grid
• 2018-06-14 Listed $271,900 Stellar MLS as Distributed by MLS Grid
• 2016-10-17 Sold (Public Records) $509,799 Public Records

Property tax history

+17.3%/yr

Latest (2025): $4,399 · +4.5% YoY. Source: county tax records.