Palmer Plan · Eustis, FL 32726

$259,990

3 bd · 2.5 ba · 1,645 sqft · Townhouse · 174 Days on market

Excellent condition

---

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 +9.4/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• 1% rule +2.9/10.0
• DSCR +2.7/10.0
• Appreciation +0.0/10.0

Listing remarks

The Palmer is a brand-new townhome offering 1,645 sq. ft. of thoughtfully designed living space with 3 bedrooms, 2.5 bathrooms, and a spacious loft. A welcoming covered front porch leads you into an inviting foyer where you'll immediately notice the impressive 9'4" ceilings on the first floor and the bright, open-concept layout. The kitchen, great room, and dining area flow seamlessly together-perfect for everyday living, family gatherings, or entertaining. The beautifully designed kitchen features 42" upper cabinets, stainless steel appliances, ample countertop space, and generous storage.

Key facts

• Parking
• Listed 174 days

🏗️ New construction. The $259,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $267,750.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $260k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-189 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (19.1% below list).
• Recommended offer: $210k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 4.3% in Eustis — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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-, 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: Eustis Heights Elementary School (math 49% / reading 42%, grade D-, #1,247 of 2,144 statewide, top 59%, 676 students, 69% FRL); Eustis Middle School (math 45% / reading 41%, grade D-, #331 of 571 statewide, top 59%, 824 students, 57% FRL); Eustis High School (math 33% / reading 40%, grade F, #351 of 667 statewide, top 54%, 1,368 students, 45% FRL).
• Market conditions: Rents rising (+3.2%/yr); 456 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 42d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 40% of the median local income ($63k/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 $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 174 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.

Recommended offer $210,307 (19.1% 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 174 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.79% ✗
• Cap rate: 5.45%
• Cash-on-cash: -3.02%
• DSCR: 0.87
• GRM: 10.6

CMA / ARV

• ARV (median comp): $267,750
• List price: $259,990
• Delta: -2.90%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
650 Cedar Elm Ct	0.03mi	3/2.5	1,645 (0%)	2mo	$259,999	$158	97
654 Cedar Elm Ct	0.04mi	3/2.5	1,645 (0%)	2mo	$268,999	$164	97
2262 Red Pine Ct	0.04mi	3/2.5	1,645 (0%)	5mo	$267,750	$163	94
630 Cedar Elm Ct	0.01mi	3/2.5	1,657 (+1%)	7mo	$269,305	$163	92
622 Cedar Elm St	0.06mi	3/2.5	1,677 (+2%)	9mo	$307,996	$184	87
3008 Jessamine Dr	0.44mi	3/2.5	1,451 (-12%)	1mo	$264,000	$182	59
3020 Jessamine Dr	0.43mi	3/2.5	1,451 (-12%)	2mo	$275,490	$190	59
3000 Jessamine Dr	0.45mi	3/2.5	1,451 (-12%)	2mo	$278,490	$192	58
3328 Thicket St	0.48mi	3/2.5	1,451 (-12%)	11mo	$260,990	$180	49
3348 Thicket St	0.50mi	3/2.5	1,451 (-12%)	10mo	$282,000	$194	48

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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.27×
• Total profit: $-54,965
• Equity at exit: $39,922

10-year hold

• IRR: -14.1%
• Equity multiple: 0.18×
• Total profit: $-61,481
• Equity at exit: $23,150

Cash invested: $74,970 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 16 active · 13 under contract
• Months of supply: 16.0 mo (6%/mo absorbed)
• Median asking: $271,415 ($181/sqft)
• Median days on market: 98 d
• This list price: 6% of active listings are priced below it
• ARV vs active asking: -10.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32726

• Home prices YoY: -21.3%
• Rents YoY: 3.2%
• Active inventory: 456
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,103 high
• Mortgage (P&I): −$1,404
• Tax est. 1.5%: −$335 /mo · $4,016/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $-189

Break-even live

Break-even rent $2,342

Max offer price $240,411

Occupancy floor —

Sensitivity live

Price	-10% $-4	-5% $-96	+0% $-189	+5% $-281	+10% $-374
Rent	-10% $-355	-5% $-272	+0% $-189	+5% $-106	+10% $-23
Rate	-1.0pp $-54	-0.5pp $-121	base $-189	+0.5pp $-258	+1.0pp $-329

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: $66,938
• Closing costs: $8,032
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
971 Grafton Ridge Dr Eustis, FL	3.0	2.5	1685	$2,260	$1.34	29d	1	0.19mi
3437 Nettle Loop Tavares, FL	4.0	2.0	1665	$2,060	$1.24	119d	1	0.32mi
4229 Evernia Rd Tavares, FL	3.0	2.0	1504	$2,100	$1.40	100d	1	0.36mi
1078 Clay Blvd Tavares, FL	4.0	2.0	1828	$2,250	$1.23	42d	1	0.38mi
1078 Clay Blvd Tavares, FL	4.0	2.0	1828	$2,250	$1.23	27d	1	0.38mi
3031 Jessamine Dr Tavares, FL	3.0	2.5	1496	$2,150	$1.44	9d	1	0.46mi
3031 Jessamine Dr Tavares, FL	3.0	2.0	2004	$2,150	$1.07	83d	1	0.46mi
3031 Jessamine Dr Tavares, FL	3.0	2.5	1451	$2,016	$1.39	100d	1	0.46mi
3004 Jessamine Dr Tavares, FL	3.0	3.0	1451	$1,950	$1.34	7d	1	0.47mi
33 E Saint Louis Ave Eustis, FL	3.0	2.0	1171	$1,550	$1.32	6d	1	0.48mi
130 E Dicie Ave Eustis, FL	3.0	2.0	1129	$1,700	$1.51	9d	1	0.49mi
3130 Amaranth St Tavares, FL	3.0	2.0	1650	$2,500	$1.52	42d	1	0.51mi
3130 Amaranth St Tavares, FL	3.0	2.0	1650	$2,199	$1.33	5d	1	0.51mi
104 E Pinecrest Ave Eustis, FL	4.0	2.5	1550	$2,100	$1.35	2d	1	0.52mi
3422 Salvia Ct Tavares, FL	4.0	2.0	1839	$2,299	$1.25	119d	1	0.53mi
3422 Salvia Ct Tavares, FL	4.0	2.0	1839	$2,299	$1.25	115d	1	0.53mi
2599 Avalon Park Blvd Tavares, FL	3.0	2.0	1619	$2,200	$1.36	9d	1	0.56mi
233 Bluff Pass Dr Eustis, FL	4.0	2.5	1863	$2,075	$1.11	70d	1	0.58mi
131 W Atwater Ave Eustis, FL	3.0	1.0	1400	$2,100	$1.50	119d	1	0.58mi
302 Bluff Pass Dr Eustis, FL	3.0	2.0	1200	$1,750	$1.46	42d	1	0.62mi
336 Ryans Ridge Ave Eustis, FL	4.0	2.0	1317	$1,900	$1.44	29d	1	0.66mi
408 E Idlewild Ave Eustis, FL	4.0	2.5	1863	$2,329	$1.25	59d	1	0.67mi
2573 Shamrock St Tavares, FL	3.0	2.0	1614	$1,930	$1.20	6d	1	0.68mi
101 E Atwater Ave Eustis, FL	3.0	2.0	1200	$1,800	$1.50	40d	1	0.69mi
2750 David Walker Dr Eustis, FL	1.0–3.0	1.0–2.0	1015	$1,824	$1.80	29d	5	0.76mi
403 Blueberry Dr Eustis, FL	3.0	2.0	1728	$2,125	$1.23	42d	1	0.77mi
2698 Rowan St Tavares, FL	3.0	2.0	1614	$2,250	$1.39	59d	1	0.79mi
2997 S Grove St Eustis, FL	2.0	1.5	1092	$1,750	$1.60	76d	1	0.80mi
3423 Landing View Tavares, FL	4.0	2.0	1846	$2,475	$1.34	6d	1	0.83mi
1105 Fig St Tavares, FL	4.0	3.0	2200	$2,600	$1.18	110d	1	0.85mi
1105 Fig St Tavares, FL	4.0	3.0	2200	$2,600	$1.18	108d	1	0.85mi
3387 Landing View Tavares, FL	4.0	2.0	1751	$2,070	$1.18	29d	1	0.85mi
4021 Lake Saunders Dr Mount Dora, FL	2.0	1.0	1100	$1,450	$1.32	94d	1	0.88mi
2038 Appalachee Cir Tavares, FL	3.0	2.0	1685	$2,081	$1.24	9d	1	0.89mi
1411 S Mary St Eustis, FL	3.0	2.0	1580	$1,900	$1.20	63d	1	0.90mi
2460 Ann Rou Rd Unit 606 Tavares, FL	2.0	2.0	1167	$1,750	$1.50	113d	1	0.91mi
3342 Landing View Tavares, FL	3.0	2.0	1690	$1,995	$1.18	98d	1	0.92mi
902 S Grove St Eustis, FL	3.0	2.0	1389	$1,300	$0.94	7d	1	0.93mi
902 S Grove St Unit 2 Eustis, FL	3.0	1.0	1389	$1,300	$0.94	83d	1	0.93mi
902 S Grove St Eustis, FL	3.0	1.0	1389	$1,300	$0.94	42d	1	0.93mi

Property features AI

Finance

• Other: Located at 622 Cedar Elm Ct, Eustis FL 32726List price available (listing is active)

Exterior

• Parking: 1 parking space
• Utilities: Electric serviceCentral air conditioning
• Home design: Single-family plan (Palmer)Living area approximately 1645

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Heating & cooling: Electric heating with heat pumpCentral air conditioning
• Interior features: Open living area (plan: Palmer)Plan is new construction

Listing history 50 events

1. 2026-09-23
   days on market $259,990 Active 174 DOM
2. 2026-09-22
   days on market $259,990 Active 173 DOM
3. 2026-09-21
   days on market $259,990 Active 172 DOM
4. 2026-09-20
   days on market $259,990 Active 171 DOM
5. 2026-09-19
   days on market $259,990 Active 170 DOM
6. 2026-09-18
   days on market $259,990 Active 169 DOM
7. 2026-09-17
   days on market $259,990 Active 168 DOM
8. 2026-09-16
   days on market $259,990 Active 167 DOM
9. 2026-09-15
   days on market $259,990 Active 166 DOM
10. 2026-09-14
    days on market $259,990 Active 165 DOM
11. 2026-09-13
    days on market $259,990 Active 164 DOM
12. 2026-09-12
    days on market $259,990 Active 163 DOM
13. 2026-09-11
    days on market $259,990 Active 162 DOM
14. 2026-09-05
    days on market $259,990 Active 156 DOM
15. 2026-09-04
    days on market $259,990 Active 155 DOM
16. 2026-09-03
    days on market $259,990 Active 154 DOM
17. 2026-08-31
    days on market $259,990 Active 151 DOM
18. 2026-08-30
    days on market $259,990 Active 150 DOM
19. 2026-08-29
    days on market $259,990 Active 149 DOM
20. 2026-08-28
    days on market $259,990 Active 148 DOM
21. 2026-08-27
    days on market $259,990 Active 147 DOM
22. 2026-08-25
    days on market $259,990 Active 145 DOM
23. 2026-08-24
    days on market $259,990 Active 144 DOM
24. 2026-08-22
    days on market $259,990 Active 142 DOM
25. 2026-08-21
    days on market $259,990 Active 141 DOM
26. 2026-08-20
    days on market $259,990 Active 140 DOM
27. 2026-08-19
    days on market $259,990 Active 139 DOM
28. 2026-08-18
    days on market $259,990 Active 138 DOM
29. 2026-08-17
    days on market $259,990 Active 137 DOM
30. 2026-08-16
    days on market $259,990 Active 136 DOM
31. 2026-08-14
    days on market $259,990 Active 134 DOM
32. 2026-08-13
    days on market $259,990 Active 133 DOM
33. 2026-08-12
    days on market $259,990 Active 132 DOM
34. 2026-08-11
    days on market $259,990 Active 131 DOM
35. 2026-08-10
    days on market $259,990 Active 130 DOM
36. 2026-08-09
    days on market $259,990 Active 129 DOM
37. 2026-08-08
    days on market $259,990 Active 128 DOM
38. 2026-08-06
    days on market $259,990 Active 126 DOM
39. 2026-08-05
    days on market $259,990 Active 125 DOM
40. 2026-08-04
    days on market $259,990 Active 124 DOM
41. 2026-08-03
    days on market $259,990 Active 123 DOM
42. 2026-07-31
    days on market $259,990 Active 120 DOM
43. 2026-07-30
    days on market $259,990 Active 119 DOM
44. 2026-07-30
    days on market $259,990 Active 118 DOM
45. 2026-07-28
    days on market $259,990 Active 117 DOM
46. 2026-07-26
    days on market $259,990 Active 115 DOM
47. 2026-07-24
    days on market $259,990 Active 113 DOM
48. 2026-07-23
    days on market $259,990 Active 112 DOM
49. 2026-07-22
    days on market $259,990 Active 111 DOM
50. 2026-07-21
    days on market $259,990 Active 110 DOM

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

Taxation est. · year 1

• Rental income: $25,237
• − Mortgage interest: −$14,998
• − Property taxes: −$4,016
• − Insurance: −$1,339
• − Repairs & maintenance: −$2,019
• − Management: −$2,019
• − Depreciation: −$7,789
• Taxable loss: −$6,943
• Est. tax savings @ 24.0%: +$1,666
• After-tax cash flow: $-601/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.

Condition & rehab AI · 12 photos

Excellent 100/100 None rehab

This brand-new townhome is move-in ready with excellent condition and no visible repairs or maintenance needed. It offers a spacious layout, modern finishes, and a well-maintained exterior, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Eustis Heights Elementary School D- FL #1,247/2,144 Nat'l #15,746/41,679 Middle Eustis Middle School D- FL #331/571 Nat'l #5,160/14,009 High Eustis High School F FL #351/667 Nat'l #9,347/17,239

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

B Composite livability gradescore 73/100

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

• Census place: Eustis, FL
• County: Lake County · 386,640 people
• City population: 24,715
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 24,715
• Household income: $63,152
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 6% of renters

---

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 0.59)
• Race & ethnicity: White 59% Black 19% Hispanic / Latino 17% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 4%
• Common ancestry: Hispanic 2% Romanian 2% Lithuanian 2%
• Foreign-born: 14% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 10% French/Haitian/Cajun 3% 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: ▼ -88.12%
• Current HPI: 325.4692
• Rent YoY: ▲ 3.20%
• 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

Property features AI

Finance

• Other: Located at 622 Cedar Elm Ct, Eustis FL 32726List price available (listing is active)

Exterior

• Parking: 1 parking space
• Utilities: Electric serviceCentral air conditioning
• Home design: Single-family plan (Palmer)Living area approximately 1645

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Heating & cooling: Electric heating with heat pumpCentral air conditioning
• Interior features: Open living area (plan: Palmer)Plan is new construction