1117 Oakland · Tavares, FL 32778

$189,900

3 bd · 1.0 ba · 1,242 sqft · Manufactured public records · 310 Days on market

Built 1961 4,593 sqft lot $43/mo HOA · 2% of rent

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Why this score? — see what drove the C- 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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.3/10.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

"Charming 55+ Community Home for Sale! This 3-bedroom BLOCK Home, 2-bathroom retreat boasts a brand-new AC system and modern appliances, ensuring a comfortable living experience. The seller, relocating to Kentucky for family support due to health concerns, has meticulously maintained this property. The open-concept kitchen, dining, and living area flows seamlessly, and the convenience of inside laundry adds to its functionality. With its prime location, Downtown Tavares is just a short golf cart ride away, offering easy access to events, restaurants, and playgrounds perfect for family fun. Plus, the extra-large carport presents an opportunity to convert it into an indoor garage - the p

Key facts

• Brand-new ac system
• Open-concept kitchen
• Modern appliances

Tags

• BRAND-NEW AC SYSTEM
• MODERN APPLIANCES
• OPEN-CONCEPT KITCHEN
• INSIDE LAUNDRY
• PRIME LOCATION
• EXTRA-LARGE CARPORT

Property features AI

Finance

• Other: Lease restrictions apply
• HOA & community: Has HOA (monthly fee $43) — association approval required; Association amenities include laundry and a shuffleboard court; Senior community; Cats and dogs allowed

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single-family residence; One story; Faces west
• Construction: Block construction; Metal roof; Slab foundation; Built on one level
• Exterior features: Rain gutters; Private, paved lot; Asphalt road access; Publicly maintained road

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Open floor plan; Thermostat; Aluminum frame windows
• Laundry & utility: Washer and dryer (inside laundry)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.5% in Tavares — 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 76/100 on livability (#220 in FL, #3,464 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment 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: Tavares Elementary School (math 49% / reading 45%, grade D-, #1,191 of 2,144 statewide, top 57%, 875 students, 61% FRL); Tavares Middle School (math 43% / reading 40%, grade F, #348 of 571 statewide, top 62%, 1,070 students, 58% FRL); Tavares High School (math 32% / reading 40%, grade F, #359 of 667 statewide, top 55%, 1,507 students, 45% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 507 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 37% 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 $1k of loan paydown is wiped out by about $6k 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 310 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $190k implies a 216% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 310 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 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.15%
• DSCR: 1.27
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $77,004
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
229 Rue DE Fontaine	0.67mi	2/2.0 (-1)	1,056 (-15%)	8mo	$65,000	$62	28

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 · 4.05% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-11,310
• Equity at exit: $28,315

10-year hold

• IRR: 5.2%
• Equity multiple: 1.40×
• Total profit: $21,322
• Equity at exit: $16,419

Cash invested: $53,172 (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 32778

• Home prices YoY: -23.4%
• Rents YoY: 4.0%
• Active inventory: 507
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,963 high
• Mortgage (P&I): −$996
• Tax from tax record: −$160 /mo · $1,923/yr
• Insurance: −$79
• HOA: −$43
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $273

Break-even live

Break-even rent $1,618

Max offer price $189,900

Occupancy floor 81%

Sensitivity live

Price	-10% $380	-5% $326	+0% $273	+5% $219	+10% $165
Rent	-10% $117	-5% $195	+0% $273	+5% $350	+10% $428
Rate	-1.0pp $368	-0.5pp $321	base $273	+0.5pp $223	+1.0pp $173

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1585 Dead River Rd Tavares, FL	3.0	2.0	1053	$1,990	$1.89	25d	1	0.50mi
30024 Tavares Ridge Blvd Unit 62 Tavares, FL	2.0	2.0	1140	$2,000	$1.75	25d	1	0.51mi
741 W Rosewood Ln Tavares, FL	3.0	2.0	1125	$1,195	$1.06	4d	1	0.64mi
459 E Rosewood Ln #157 Tavares, FL	3.0	2.0	1240	$1,400	$1.13	23d	1	0.69mi
500 E Rosewood Ln Unit 154 Tavares, FL	3.0	2.0	1140	$1,650	$1.45	25d	1	0.71mi
123 N Lake Ave Tavares, FL	2.0	1.0	1120	$1,595	$1.42	25d	1	0.88mi
2106 Shantiniketan Blvd Unit B6 Tavares, FL	2.0	2.0	1200	$2,200	$1.83	6d	1	1.07mi
615 Juniper Way Tavares, FL	3.0	2.0	1209	$1,900	$1.57	19d	1	1.23mi
4721 Treasure Cay Rd Tavares, FL	3.0	2.0	1372	$1,900	$1.38	0d	1	1.37mi
4950 Marsh Harbor Dr Tavares, FL	3.0	2.0	1227	$1,900	$1.55	0d	1	1.41mi
4567 Barbuda Dr Tavares, FL	3.0	2.0	1362	$2,150	$1.58	25d	1	1.43mi

HOA detail

• Monthly dues: $43 · $516/yr
• Likely covers: landscaping

Listing history 16 events

1. 2026-06-15
   status $189,900 Pending 310 DOM
2. 2026-06-13
   days on market $189,900 Active 310 DOM
3. 2026-06-09
   days on market $189,900 Active 306 DOM
4. 2026-06-08
   days on market $189,900 Active 305 DOM
5. 2026-06-07
   days on market $189,900 Active 304 DOM
6. 2026-06-04
   days on market $189,900 Active 301 DOM
7. 2026-06-03
   days on market $189,900 Active 300 DOM
8. 2026-06-02
   days on market $189,900 Active 299 DOM
9. 2026-06-02
   pricedays on market $189,900 Active 298 DOM
10. 2026-05-31
    days on market $194,900 Active 297 DOM
11. 2026-03-25
    price $194,900
12. 2026-02-25
    price $199,900
13. 2025-08-07
    listed $205,900 Active
14. 2021-04-23
    soldstatus $60,000
15. 1991-11-01
    soldstatus $36,500
16. 1982-05-01
    soldstatus $32,000

ⓘ 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: $1,923 · $160/mo
• Projected year-2 tax: $1,923 · $160/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 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: $23,556
• − Mortgage interest: −$10,637
• − Property taxes: −$1,923
• − Insurance: −$950
• − Repairs & maintenance: −$1,884
• − Management: −$1,884
• − HOA: −$516
• − Depreciation: −$5,524
• Taxable income: $237
• Est. tax owed @ 24.0%: −$57
• After-tax cash flow: $3,214/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 — Tavares

• Score: 76/100
• State rank: #220
• US rank: #3464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tavares, FL
• County: Lake County · 364,602 people
• City population: 25,042
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 25,042
• Household income: $63,472
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 586.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 8% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Cuban 2% Dominican 1%
• Common ancestry: Romanian 4% Italian 3% Slovak 2%
• Foreign-born: 9% · Canada, Dominican Republic, Jamaica
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Other Asian/Pacific 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: ▼ -88.07%
• Current HPI: 288.7123
• Rent YoY: ▲ 4.05%
• 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

+509.1% since first listed

6 events — show timeline

• 2026-03-25 Price Changed $194,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-25 Price Changed $199,900 Stellar MLS as Distributed by MLS Grid
• 2025-08-07 Listed $205,900 Stellar MLS as Distributed by MLS Grid
• 2021-04-23 Sold (Public Records) $60,000 Public Records
• 1991-11-01 Sold (Public Records) $36,500 Public Records
• 1982-05-01 Sold (Public Records) $32,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,923 · -0.1% YoY. Source: county tax records.