Palmer Plan · Eustis, FL 32726

$254,990

3 bd · 2.5 ba · 1,645 sqft · Townhouse · 220 Days on market

Excellent condition

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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 +9.7/30.0
• 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 219 days

🏗️ New construction. The $254,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $267,375.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $255k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-177 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (17.1% below list).
• Recommended offer: $212k (17.1% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.0% 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-, 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); 527 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 55d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 220 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.

Recommended offer $211,500 (17.1% 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 220 days. Have you received any prior offers? Is the seller open to a 17% 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: 5.50%
• Cash-on-cash: -2.84%
• DSCR: 0.87
• GRM: 10.5

CMA / ARV

• ARV (median comp): $267,375
• List price: $254,990
• Delta: -4.63%
• Verdict: FAIR
• Comps: 16 within 1.0 mi

Show comp detail 11 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%)	3mo	$259,999	$158	96
654 Cedar Elm Ct	0.04mi	3/2.5	1,645 (0%)	3mo	$268,999	$164	96
2262 Red Pine Ct	0.04mi	3/2.5	1,645 (0%)	6mo	$267,750	$163	93
630 Cedar Elm Ct	0.01mi	3/2.5	1,657 (+1%)	8mo	$269,305	$163	91
622 Cedar Elm St	0.06mi	3/2.5	1,677 (+2%)	10mo	$307,996	$184	85
3016 Jessamine Dr	0.44mi	3/2.5	1,451 (-12%)	1mo	$267,000	$184	59
3008 Jessamine Dr	0.44mi	3/2.5	1,451 (-12%)	2mo	$264,000	$182	58
3020 Jessamine Dr	0.43mi	3/2.5	1,451 (-12%)	3mo	$275,490	$190	58
3000 Jessamine Dr	0.45mi	3/2.5	1,451 (-12%)	4mo	$278,490	$192	56
3328 Thicket St	0.48mi	3/2.5	1,451 (-12%)	12mo	$260,990	$180	48
3348 Thicket St	0.50mi	3/2.5	1,451 (-12%)	12mo	$282,000	$194	47

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: -20.8%
• Equity multiple: 0.28×
• Total profit: $-54,136
• Equity at exit: $39,866

10-year hold

• IRR: -13.6%
• Equity multiple: 0.20×
• Total profit: $-59,763
• Equity at exit: $23,118

Cash invested: $74,865 (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 · 15 under contract
• Months of supply: 16.0 mo (6%/mo absorbed)
• Median asking: $262,370 ($172/sqft)
• Median days on market: 144 d
• This list price: 25% of active listings are priced below it
• ARV vs active asking: -5.6% 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: 527
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,115 high
• Mortgage (P&I): −$1,402
• Tax est. 1.5%: −$334 /mo · $4,011/yr
• Insurance: −$111
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $-177

Break-even live

Break-even rent $2,339

Max offer price $241,775

Occupancy floor —

Sensitivity live

Price	-10% $8	-5% $-85	+0% $-177	+5% $-269	+10% $-362
Rent	-10% $-344	-5% $-260	+0% $-177	+5% $-93	+10% $-10
Rate	-1.0pp $-42	-0.5pp $-109	base $-177	+0.5pp $-246	+1.0pp $-317

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: $66,844
• Closing costs: $8,021
• 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	$2,372	$1.41	10d	1	0.19mi
401 W Seminole Ave Eustis, FL	2.0	1.0	1250	$1,500	$1.20	10d	1	0.20mi
1076 Grafton Ridge Dr Eustis, FL	4.0	2.5	1977	$2,447	$1.24	10d	1	0.25mi
3437 Nettle Loop Tavares, FL	4.0	2.0	1665	$2,060	$1.24	164d	1	0.32mi
4229 Evernia Rd Tavares, FL	3.0	2.0	1504	$2,100	$1.40	145d	1	0.36mi
1078 Clay Blvd Tavares, FL	4.0	2.0	1828	$2,250	$1.23	87d	1	0.38mi
1078 Clay Blvd Tavares, FL	4.0	2.0	1828	$2,250	$1.23	72d	1	0.38mi
3501 Salvia Ct Tavares, FL	4.0	2.5	1876	$2,390	$1.27	3d	1	0.46mi
3031 Jessamine Dr Tavares, FL	3.0	2.5	1496	$2,150	$1.44	55d	1	0.46mi
3031 Jessamine Dr Tavares, FL	3.0	3.0	1496	$1,990	$1.33	25d	1	0.46mi
3031 Jessamine Dr Tavares, FL	3.0	2.0	2004	$2,150	$1.07	128d	1	0.46mi
3031 Jessamine Dr Tavares, FL	3.0	2.5	1451	$2,016	$1.39	145d	1	0.46mi
3004 Jessamine Dr Tavares, FL	3.0	3.0	1451	$1,875	$1.29	24d	1	0.47mi
33 E Saint Louis Ave Eustis, FL	3.0	2.0	1171	$1,550	$1.32	51d	1	0.48mi
130 E Dicie Ave Eustis, FL	3.0	2.0	1129	$1,700	$1.51	10d	1	0.49mi
3130 Amaranth St Tavares, FL	3.0	2.0	1650	$1,999	$1.21	10d	1	0.51mi
3130 Amaranth St Tavares, FL	3.0	2.0	1650	$2,500	$1.52	87d	1	0.51mi
104 E Pinecrest Ave Eustis, FL	4.0	2.5	1550	$2,095	$1.35	10d	1	0.52mi
3422 Salvia Ct Tavares, FL	4.0	2.0	1839	$2,299	$1.25	164d	1	0.53mi
3422 Salvia Ct Tavares, FL	4.0	2.0	1839	$2,299	$1.25	161d	1	0.53mi
2599 Avalon Park Blvd Tavares, FL	3.0	2.0	1619	$2,200	$1.36	55d	1	0.56mi
1612 S Eustis St Eustis, FL	2.0	1.0	1168	$1,500	$1.28	37d	1	0.56mi
233 Bluff Pass Dr Eustis, FL	4.0	2.5	1863	$2,075	$1.11	115d	1	0.58mi
131 W Atwater Ave Eustis, FL	3.0	1.0	1400	$2,100	$1.50	164d	1	0.58mi
304 Ryans Ridge Ave Eustis, FL	3.0	2.0	1216	$2,300	$1.89	10d	1	0.61mi
302 Bluff Pass Dr Eustis, FL	3.0	2.0	1200	$1,750	$1.46	87d	1	0.62mi
336 Ryans Ridge Ave Eustis, FL	4.0	2.0	1317	$1,900	$1.44	75d	1	0.66mi
408 E Idlewild Ave Eustis, FL	4.0	2.5	1863	$2,329	$1.25	105d	1	0.67mi
2573 Shamrock St Tavares, FL	3.0	2.0	1614	$1,675	$1.04	0d	1	0.68mi
414 Ryans Ridge Ave Eustis, FL	4.0	2.0	1317	$1,795	$1.36	10d	1	0.69mi
414 Ryans Ridge Ave Eustis, FL	4.0	2.0	1317	$1,795	$1.36	3d	1	0.69mi
101 E Atwater Ave Eustis, FL	3.0	2.0	1200	$1,800	$1.50	10d	1	0.69mi
2750 David Walker Dr Eustis, FL	3.0–4.0	2.0–3.0	1334	$1,749	$1.31	0d	5	0.76mi
403 Blueberry Dr Eustis, FL	3.0	2.0	1728	$2,125	$1.23	87d	1	0.77mi
2698 Rowan St Tavares, FL	3.0	2.0	1614	$2,250	$1.39	105d	1	0.79mi
2997 S Grove St Eustis, FL	2.0	1.5	1092	$1,750	$1.60	10d	1	0.80mi
3423 Landing View Tavares, FL	4.0	2.0	1846	$2,475	$1.34	10d	1	0.83mi
1105 Fig St Tavares, FL	4.0	3.0	2200	$2,600	$1.18	155d	1	0.85mi
1105 Fig St Tavares, FL	4.0	3.0	2200	$2,600	$1.18	153d	1	0.85mi
3387 Landing View Tavares, FL	4.0	2.0	1751	$2,070	$1.18	75d	1	0.85mi

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. 2026-11-08
   days on market $254,990 Active 220 DOM
2. 2026-11-07
   days on market $254,990 Active 219 DOM
3. 2026-11-07
   price $254,990 Active 218 DOM
4. 2026-11-06
   days on market $259,990 Active 218 DOM
5. 2026-11-05
   days on market $259,990 Active 217 DOM
6. 2026-11-04
   days on market $259,990 Active 216 DOM
7. 2026-11-02
   days on market $259,990 Active 214 DOM
8. 2026-11-01
   days on market $259,990 Active 213 DOM
9. 2026-10-31
   days on market $259,990 Active 212 DOM
10. 2026-10-30
    days on market $259,990 Active 211 DOM
11. 2026-10-29
    days on market $259,990 Active 210 DOM
12. 2026-10-28
    days on market $259,990 Active 209 DOM
13. 2026-10-26
    days on market $259,990 Active 207 DOM
14. 2026-10-26
    days on market $259,990 Active 206 DOM
15. 2026-10-24
    days on market $259,990 Active 205 DOM
16. 2026-10-23
    days on market $259,990 Active 204 DOM
17. 2026-10-22
    days on market $259,990 Active 203 DOM
18. 2026-10-21
    days on market $259,990 Active 202 DOM
19. 2026-10-20
    days on market $259,990 Active 201 DOM
20. 2026-10-19
    days on market $259,990 Active 200 DOM
21. 2026-10-18
    days on market $259,990 Active 199 DOM
22. 2026-10-17
    days on market $259,990 Active 198 DOM
23. 2026-10-16
    days on market $259,990 Active 197 DOM
24. 2026-10-15
    days on market $259,990 Active 196 DOM
25. 2026-10-14
    days on market $259,990 Active 195 DOM
26. 2026-10-13
    days on market $259,990 Active 194 DOM
27. 2026-10-12
    days on market $259,990 Active 193 DOM
28. 2026-10-11
    days on market $259,990 Active 192 DOM
29. 2026-10-10
    days on market $259,990 Active 191 DOM
30. 2026-10-09
    days on market $259,990 Active 190 DOM
31. 2026-10-08
    days on market $259,990 Active 189 DOM
32. 2026-10-08
    days on market $259,990 Active 188 DOM
33. 2026-10-06
    days on market $259,990 Active 187 DOM
34. 2026-10-05
    days on market $259,990 Active 186 DOM
35. 2026-10-04
    days on market $259,990 Active 185 DOM
36. 2026-10-03
    days on market $259,990 Active 184 DOM
37. 2026-10-02
    days on market $259,990 Active 183 DOM
38. 2026-10-01
    days on market $259,990 Active 182 DOM
39. 2026-10-01
    days on market $259,990 Active 181 DOM
40. 2026-09-29
    days on market $259,990 Active 180 DOM
41. 2026-09-28
    days on market $259,990 Active 179 DOM
42. 2026-09-27
    days on market $259,990 Active 178 DOM
43. 2026-09-25
    days on market $259,990 Active 176 DOM
44. 2026-09-24
    days on market $259,990 Active 175 DOM
45. 2026-09-23
    days on market $259,990 Active 174 DOM
46. 2026-09-22
    days on market $259,990 Active 173 DOM
47. 2026-09-21
    days on market $259,990 Active 172 DOM
48. 2026-09-20
    days on market $259,990 Active 171 DOM
49. 2026-09-19
    days on market $259,990 Active 170 DOM
50. 2026-09-18
    days on market $259,990 Active 169 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: $25,380
• − Mortgage interest: −$14,977
• − Property taxes: −$4,011
• − Insurance: −$1,337
• − Repairs & maintenance: −$2,030
• − Management: −$2,030
• − Depreciation: −$7,778
• Taxable loss: −$6,784
• Est. tax savings @ 24.0%: +$1,628
• After-tax cash flow: $-495/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

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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%

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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%
• Languages at home: 84% English-only · Spanish 10% French/Haitian/Cajun 3% Other Indo-European 1%

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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

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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