37402 Chicago Ave · Eustis, FL 32784

$299,000

3 bd · 2.0 ba · 1,334 sqft · SingleFamily public records · 65 Days on market

Built 2023 0.29 ac lot Est $249k · 20% over

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Why this score? — see what drove the F 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 +12.1/30.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your new home at 37402 Chicago Ave in Umatilla, a charming and newly constructed block home completed in 2023. This modern abode offers 1365 square feet of living space, including 3 bedrooms and 2 bathrooms. Inside, you'll find upscale vinyl plank flooring throughout, complemented by matching cabinets featuring slow-close doors and drawers, as well as elegant stone countertops in the kitchen and bathrooms. For added comfort, ceiling fans with convenient remotes are installed in every room, ensuring year-round relaxation. The interior also boasts an inside laundry room with coordinating cabinets, while the primary bedroom boasts a spacious walk-in closet and an en-suite bathroom with a large vanity, linen closet, and tiled shower. Custom wood trim work around the windows adds a touch of sophistication to the space. Step outside to enjoy over a quarter acre of very private space to host gatherings, park your boat or RV, or maybe start a garden! Use the bonus concrete slab in the backyard to create the perfect location for outside storage. Located just minutes from downtown Eustis, you can enjoy quick access to shopping, dining, and entertainment options. Don't miss your chance to tour this stunning new construction—schedule your private showing today!

Key facts

• Open floor plan
• Lvp flooring
• 0.29 acre lot

Tags

• OPEN FLOOR PLAN
• LVP FLOORING
• WATER SOFTENER SYSTEM
• FULLY FENCED BACKYARD

Property features AI

Finance

• Other: Homestead exempt; Zoned R-6
• HOA & community: No association

Exterior

• Utilities: Well water; Septic tank; Cable connected; Electricity connected
• Home design: Single-family residence; Residential property; West-facing; Single story; Entry level: One
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built with 1/4 to less than 1/2 acre lot (approx. 0.29 acre, 100 x 120)
• Exterior features: Outdoor lighting; Exterior storage; Chain-link fencing; Asphalt road frontage

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floorplan; One-level living
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-66 ($-788/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (19.7% below list).
• Recommended offer: $240k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: 223 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $9k 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 65 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $19k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $240,000 (19.7% 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 65 days. Have you received any prior offers? Is the seller open to a 20% 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: 0.80% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.94%
• DSCR: 0.96
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $249,458
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37132 Turner Dr	0.67mi	3/2.0	1,258 (-6%)	13mo	$234,900	$187	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.9%
• Equity multiple: 0.37×
• Total profit: $-52,661
• Equity at exit: $44,582

10-year hold

• IRR: -10.0%
• Equity multiple: 0.39×
• Total profit: $-51,355
• Equity at exit: $25,852

Cash invested: $83,720 (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 32784

• Home prices YoY: -8.5%
• Active inventory: 223
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$269 /mo · $3,229/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $-66

Break-even live

Break-even rent $2,483

Max offer price $287,402

Occupancy floor 98%

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2486 Hallow Garden Rd Eustis, FL	3.0	2.0	1429	$2,400	$1.68	4d	1	1.06mi

Listing history 10 events

1. 2026-05-03
   status Pending
2. 2026-04-18
   price $299,000
3. 2026-04-17
   price $307,000
4. 2026-03-12
   price $309,900
5. 2026-02-27
   listed $318,000 Active
6. 2024-05-02
   soldstatus $295,000
7. 2024-04-30
   soldstatus $295,000 Closed 1287-char remark

   Show marketing remark (1287 chars)

   Welcome to your new home at 37402 Chicago Ave in Umatilla, a charming and newly constructed block home completed in 2023. This modern abode offers 1365 square feet of living space, including 3 bedrooms and 2 bathrooms. Inside, you'll find upscale vinyl plank flooring throughout, complemented by matching cabinets featuring slow-close doors and drawers, as well as elegant stone countertops in the kitchen and bathrooms. For added comfort, ceiling fans with convenient remotes are installed in every room, ensuring year-round relaxation. The interior also boasts an inside laundry room with coordinating cabinets, while the primary bedroom boasts a spacious walk-in closet and an en-suite bathroom with a large vanity, linen closet, and tiled shower. Custom wood trim work around the windows adds a touch of sophistication to the space. Step outside to enjoy over a quarter acre of very private space to host gatherings, park your boat or RV, or maybe start a garden! Use the bonus concrete slab in the backyard to create the perfect location for outside storage. Located just minutes from downtown Eustis, you can enjoy quick access to shopping, dining, and entertainment options. Don't miss your chance to tour this stunning new construction—schedule your private showing today!

8. 2024-03-22
   status Pending 1287-char remark

   Show marketing remark (1287 chars)

   Welcome to your new home at 37402 Chicago Ave in Umatilla, a charming and newly constructed block home completed in 2023. This modern abode offers 1365 square feet of living space, including 3 bedrooms and 2 bathrooms. Inside, you'll find upscale vinyl plank flooring throughout, complemented by matching cabinets featuring slow-close doors and drawers, as well as elegant stone countertops in the kitchen and bathrooms. For added comfort, ceiling fans with convenient remotes are installed in every room, ensuring year-round relaxation. The interior also boasts an inside laundry room with coordinating cabinets, while the primary bedroom boasts a spacious walk-in closet and an en-suite bathroom with a large vanity, linen closet, and tiled shower. Custom wood trim work around the windows adds a touch of sophistication to the space. Step outside to enjoy over a quarter acre of very private space to host gatherings, park your boat or RV, or maybe start a garden! Use the bonus concrete slab in the backyard to create the perfect location for outside storage. Located just minutes from downtown Eustis, you can enjoy quick access to shopping, dining, and entertainment options. Don't miss your chance to tour this stunning new construction—schedule your private showing today!

9. 2024-02-06
   listed $299,000 Active 1287-char remark

   Show marketing remark (1287 chars)

   Welcome to your new home at 37402 Chicago Ave in Umatilla, a charming and newly constructed block home completed in 2023. This modern abode offers 1365 square feet of living space, including 3 bedrooms and 2 bathrooms. Inside, you'll find upscale vinyl plank flooring throughout, complemented by matching cabinets featuring slow-close doors and drawers, as well as elegant stone countertops in the kitchen and bathrooms. For added comfort, ceiling fans with convenient remotes are installed in every room, ensuring year-round relaxation. The interior also boasts an inside laundry room with coordinating cabinets, while the primary bedroom boasts a spacious walk-in closet and an en-suite bathroom with a large vanity, linen closet, and tiled shower. Custom wood trim work around the windows adds a touch of sophistication to the space. Step outside to enjoy over a quarter acre of very private space to host gatherings, park your boat or RV, or maybe start a garden! Use the bonus concrete slab in the backyard to create the perfect location for outside storage. Located just minutes from downtown Eustis, you can enjoy quick access to shopping, dining, and entertainment options. Don't miss your chance to tour this stunning new construction—schedule your private showing today!

10. 1992-09-01
    soldstatus $22,500

ⓘ 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: $3,229 · $269/mo
• Projected year-2 tax: $3,229 · $269/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 8/10 Severe 7 d/yr ≥108°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: $28,800
• − Mortgage interest: −$16,749
• − Property taxes: −$3,229
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$8,698
• Taxable loss: −$5,979
• Est. tax savings @ 24.0%: +$1,435
• After-tax cash flow: $647/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): 9,859

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 12% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Portuguese 2% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8% German/W. Germanic 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: ▼ -32.66%
• Current HPI: 352.4197
• 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

Price history

+1228.9% since first listed

10 events — show timeline

• 2026-05-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-18 Price Changed $299,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $307,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $309,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Listed $318,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-02 Sold (Public Records) $295,000 Public Records
• 2024-04-30 Sold (MLS) $295,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-02-06 Listed $299,000 Stellar MLS as Distributed by MLS Grid
• 1992-09-01 Sold (Public Records) $22,500 Public Records

Property tax history

+19.0%/yr

Latest (2025): $3,229 · -10.4% YoY. Source: county tax records.