1017 Cypress St · Leesburg, FL 34748

$255,000

4 bd · 4.0 ba · 2,167 sqft · SingleFamily public records · 188 Days on market

Built 1957 0.29 ac lot Est $351k · 27% under

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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 +14.2/30.0
• DSCR +4.3/10.0
• 1% rule +4.2/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT FAMILY HOME IN DESIREABLE LEESBURG LOCATION. ALL NEW WOOD FLOORING, NEW FIXTURES, INGROUND SWIMMING POOL, FIREPLACE IN GREAT ROOM, MANY IMPROVEMENTS MADE TO THIS HOME, COME AND SEE! EASY ACCESS-VACANT!

Key facts

• Refreshing pool
• Corner-lot location
• 0.29 acre lot

Tags

• REFRESHING POOL
• CORNER-LOT LOCATION

Property features AI

Finance

• Other: Lot size about 0.29 acres (1/4 to less than 1/2 acre)

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Single family residence; Residential property; One story; Faces east
• Construction: Stucco exterior; Other roof; Slab foundation
• Exterior features: Private in-ground pool; Asphalt road access

Interior

• Kitchen: Convection oven; Dishwasher; Microwave; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Ceramic tile; Wood
• Bathrooms: 3 full baths; 1 half bath
• Heating & cooling: Central air; Other heating
• Interior features: Walk-in closets; Living room fireplace
• Laundry & utility: Separate laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $42 ($509/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 $235k (7.8% below list).
• Recommended offer: $224k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 4.4% in Leesburg — 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 62/100 on livability (#751 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime 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.
• Zoned schools: Beverly Shores Elementary School (math 38% / reading 31%, grade F, #1,709 of 2,144 statewide, top 81%, 626 students, 73% FRL); Carver Middle School (math 41% / reading 41%, grade F, #353 of 571 statewide, top 63%, 837 students, 65% FRL); Leesburg High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,641 students, 58% FRL) — zoned schools average 65% FRL vs 49% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 50% district-wide (-15 pts) — the specific schools serving this property underperform the Lake average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.9%/yr); 798 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• At $2,352/mo this rent would consume 49% of the median local household income ($58k/yr) (locally 1745% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 188 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 20y ago; this cycle's ask has dropped $45k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $224,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.92% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.71%
• DSCR: 1.03
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $351,054
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1206 Sunshine Ave	0.66mi	4/2.0	2,309 (+7%)	10mo	$375,000	$162	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.36×
• Total profit: $-45,445
• Equity at exit: $38,021

10-year hold

• IRR: -19.0%
• Equity multiple: 0.13×
• Total profit: $-62,457
• Equity at exit: $22,048

Cash invested: $71,400 (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 34748

• Home prices YoY: -25.3%
• Rents YoY: -0.9%
• Active inventory: 798
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,352 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$372 /mo · $4,469/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $42

Break-even live

Break-even rent $2,299

Max offer price $255,000

Occupancy floor 93%

Sensitivity live

Price	-10% $187	-5% $115	+0% $42	+5% $-30	+10% $-102
Rent	-10% $-143	-5% $-51	+0% $42	+5% $135	+10% $228
Rate	-1.0pp $171	-0.5pp $107	base $42	+0.5pp $-24	+1.0pp $-91

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3019 Tackle Dr Leesburg, FL	4.0	2.5	2405	$2,600	$1.08	25d	1	1.01mi
415 S 9th St Leesburg, FL	3.0	2.5	1757	$2,400	$1.37	25d	1	1.20mi
2127 Aitkin Loop Leesburg, FL	3.0	2.0	1667	$1,865	$1.12	25d	1	1.22mi

Listing history 47 events

1. 2026-06-21
   days on market $255,000 Active 188 DOM
2. 2026-06-18
   price $255,000 Active 185 DOM
3. 2026-06-18
   days on market $258,000 Active 185 DOM
4. 2026-06-17
   days on market $258,000 Active 184 DOM
5. 2026-06-16
   days on market $258,000 Active 183 DOM
6. 2026-06-15
   days on market $258,000 Active 182 DOM
7. 2026-06-13
   days on market $258,000 Active 180 DOM
8. 2026-06-09
   days on market $258,000 Active 176 DOM
9. 2026-06-08
   days on market $258,000 Active 175 DOM
10. 2026-06-07
    days on market $258,000 Active 174 DOM
11. 2026-06-04
    days on market $258,000 Active 171 DOM
12. 2026-06-03
    days on market $258,000 Active 170 DOM
13. 2026-06-02
    days on market $258,000 Active 169 DOM
14. 2026-06-02
    days on market $258,000 Active 168 DOM
15. 2026-05-31
    days on market $258,000 Active 167 DOM
16. 2026-05-22
    price $258,000
17. 2026-04-24
    price $261,000
18. 2026-03-20
    price $266,000
19. 2026-02-27
    price $274,000
20. 2026-01-30
    price $282,000
21. 2026-01-09
    price $291,000
22. 2025-12-15
    listed $300,000 Active
23. 2025-09-22
    historical $2,305
24. 2025-09-20
    price $2,305
25. 2025-09-18
    listed $2,390
26. 2021-04-30
    historical 208-char remark

    Show marketing remark (208 chars)

    GREAT FAMILY HOME IN DESIREABLE LEESBURG LOCATION. ALL NEW WOOD FLOORING, NEW FIXTURES, INGROUND SWIMMING POOL, FIREPLACE IN GREAT ROOM, MANY IMPROVEMENTS MADE TO THIS HOME, COME AND SEE! EASY ACCESS-VACANT!

27. 2018-06-19
    soldstatus $464,412
28. 2015-01-12
    status Pending
29. 2015-01-11
    historical
30. 2014-12-10
    status Active
31. 2014-12-09
    status Pending
32. 2014-11-13
    status Active
33. 2014-10-28
    historical
34. 2014-06-14
    status Active
35. 2014-06-10
    historical
36. 2013-11-19
    listed $115,000 Active
37. 2010-10-07
    listed $79,900
38. 2010-10-05
    historical
39. 2010-04-27
    listed $99,900
40. 2007-04-20
    listed $249,000 208-char remark

    Show marketing remark (208 chars)

    GREAT FAMILY HOME IN DESIREABLE LEESBURG LOCATION. ALL NEW WOOD FLOORING, NEW FIXTURES, INGROUND SWIMMING POOL, FIREPLACE IN GREAT ROOM, MANY IMPROVEMENTS MADE TO THIS HOME, COME AND SEE! EASY ACCESS-VACANT!

41. 2006-12-20
    historical
42. 2006-08-15
    listed $279,900
43. 2006-07-11
    soldstatus $181,000
44. 2006-06-30
    soldstatus $181,000
45. 2006-03-14
    listed $199,900
46. 2000-11-02
    soldstatus $119,000
47. 1981-06-01
    soldstatus $62,000

ⓘ 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: $4,469 · $372/mo
• Projected year-2 tax: $4,469 · $372/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 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: $28,227
• − Mortgage interest: −$14,284
• − Property taxes: −$4,469
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,258
• − Management: −$2,258
• − Depreciation: −$7,418
• Taxable loss: −$3,735
• Est. tax savings @ 24.0%: +$896
• After-tax cash flow: $1,405/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 — Leesburg

• Score: 62/100
• State rank: #751
• US rank: #16429

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leesburg, FL
• County: Lake County · 364,602 people
• City population: 70,232
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 48,095
• Household income: $58,192
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 1745.0

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% Black 16% Hispanic / Latino 15% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 10% French/Haitian/Cajun 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: ▼ -88.97%
• Current HPI: 262.1766
• Rent YoY: ▼ -0.95%
• 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

+316.1% since first listed

32 events — show timeline

• 2026-05-22 Price Changed $258,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-24 Price Changed $261,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $266,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Price Changed $274,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-30 Price Changed $282,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-09 Price Changed $291,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-15 Listed $300,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-22 Rental Removed $2,305 RENTLY
• 2025-09-20 Price Changed $2,305 RENTLY
• 2025-09-18 Listed for Rent $2,390 RENTLY
• 2021-04-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-06-19 Sold (Public Records) $464,412 Public Records
• 2015-01-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-01-11 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-12-10 Relisted — Stellar MLS as Distributed by MLS Grid
• 2014-12-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2014-11-13 Relisted — Stellar MLS as Distributed by MLS Grid
• 2014-10-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-06-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2014-06-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2013-11-19 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2010-10-07 Listed $79,900 Stellar MLS as Distributed by MLS Grid
• 2010-10-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-04-27 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2007-04-20 Listed $249,000 Stellar MLS as Distributed by MLS Grid
• 2006-12-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2006-08-15 Listed $279,900 Stellar MLS as Distributed by MLS Grid
• 2006-07-11 Sold (Public Records) $181,000 Public Records
• 2006-06-30 Sold (MLS) $181,000 Stellar MLS as Distributed by MLS Grid
• 2006-03-14 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2000-11-02 Sold (Public Records) $119,000 Public Records
• 1981-06-01 Sold (Public Records) $62,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $4,469 · -0.1% YoY. Source: county tax records.