2419 W Main St · Leesburg, FL 34748

$199,900

3 bd · 1.0 ba · 1,550 sqft · SingleFamily public records · 221 Days on market

Built 1946 10,780 sqft lot Est $160k · 25% over

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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 +15.3/30.0
• DSCR +4.7/10.0
• Schools +4.2/10.0
• 1% rule +3.3/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Come take a look at this flexible opportunity to own either a single family home with a mother in law quarters / attached rental, duplex, or even a professional office with a rental apartment in the rear! This home was built initially as a single family home, but has been partitioned to be a 2/1 up front and a studio apartment in the rear. Its location as a corner lot directly on Main Street, just moments away from the New WAWA, adjacent to a professional plaza, moments to Brownwood and Downtown Leesburg, position it perfectly for an income property as professional space or multi-family. The home boasts a brand new roof (2025) and new water heater. The lot is 1/4 acre with detached storag

Key facts

• Attached rental
• Detached storage
• New water heater

Tags

• MOTHER IN LAW QUARTERS
• ATTACHED RENTAL
• CORNER LOT
• NEW ROOF
• NEW WATER HEATER
• DETACHED STORAGE

Property features AI

Finance

• Other: Zoned C-1; Lot around 0.25 acre (1/4 to less than 1/2 acre); Asphalt road access; Located at 2419 W Main St, Leesburg, FL

Exterior

• Parking: Carport (2 spaces)
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Water connected; Sewer connected
• Home design: Single family residence; Residential property; One level; Faces north
• Construction: Frame construction with wood siding; Shingle roof; Crawlspace and slab foundation; Built area approximately 1,550 sq ft
• Exterior features: Outdoor lighting; Storage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry in common area; Outside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $73 ($873/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 $166k (17.0% below list).
• Recommended offer: $166k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Leesburg Elementary School (math 31% / reading 32%, grade F, #1,841 of 2,144 statewide, top 86%, 822 students, 71% FRL); Oak Park Middle School (math 32% / reading 36%, grade F, #426 of 571 statewide, top 75%, 575 students, 70% FRL); Leesburg High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,641 students, 58% FRL) — zoned schools average 66% FRL vs 49% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 50% district-wide (-18 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; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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 221 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $200k implies a 751% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — 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 $165,947 (17.0% below list)

Questions for the listing agent

1. It's been on market 221 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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: 0.83% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.56%
• DSCR: 1.07
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $159,650
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
707 Coachman Dr	0.46mi	2/2.0 (-1)	1,510 (-3%)	17mo	$155,500	$103	52
2364 Conestoga Dr	0.43mi	2/2.0 (-1)	1,534 (-1%)	21mo	$144,132	$94	51
201 S Lone Oak Dr	0.35mi	3/2.0	1,715 (+11%)	13mo	$281,300	$164	51

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: -16.9%
• Equity multiple: 0.42×
• Total profit: $-32,687
• Equity at exit: $29,806

10-year hold

• IRR: -14.8%
• Equity multiple: 0.26×
• Total profit: $-41,551
• Equity at exit: $17,284

Cash invested: $55,972 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,659 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$107 /mo · $1,280/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $73

Break-even live

Break-even rent $1,567

Max offer price $199,900

Occupancy floor 91%

Sensitivity live

Price	-10% $186	-5% $129	+0% $73	+5% $16	+10% $-40
Rent	-10% $-58	-5% $7	+0% $73	+5% $138	+10% $204
Rate	-1.0pp $173	-0.5pp $124	base $73	+0.5pp $21	+1.0pp $-32

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
502 Old Colony Rd Leesburg, FL	3.0	2.0	1456	$1,299	$0.89	25d	1	0.30mi
513 Old Colony Rd Leesburg, FL	3.0	2.0	1198	$1,699	$1.42	6d	1	0.35mi
1004 Royal Oak Blvd Unit 1004 Leesburg, FL	2.0	2.5	1244	$1,550	$1.25	6d	1	0.96mi
1009 McCormack St Leesburg, FL	2.0	1.0	1400	$1,025	$0.73	25d	1	0.96mi
2920 Pecan Ave Leesburg, FL	2.0	2.5	1288	$1,700	$1.32	25d	1	1.00mi
3019 Walnut Ct Leesburg, FL	3.0	2.0	1854	$1,799	$0.97	4d	1	1.01mi
3019 Walnut Ct Leesburg, FL	3.0	2.0	1854	$1,799	$0.97	0d	1	1.01mi
2940 Peach St Leesburg, FL	2.0	2.5	1288	$1,750	$1.36	19d	1	1.02mi
3029 Walnut Ct Leesburg, FL	3.0	2.0	1854	$1,799	$0.97	6d	1	1.03mi
3029 Walnut Ct Leesburg, FL	3.0	2.0	1854	$1,799	$0.97	5d	1	1.03mi
1125 Apple Ter Unit 1125 Leesburg, FL	3.0	2.0	1450	$1,695	$1.17	0d	1	1.04mi
1020 Birchwood Ct Unit 2 Leesburg, FL	2.0	1.0	1230	$1,250	$1.02	19d	1	1.15mi
1604 Woodlyn Dr Leesburg, FL	3.0	1.5	1088	$1,500	$1.38	25d	1	1.18mi
1317 Cambridge Dr Leesburg, FL	3.0	1.5	1240	$1,600	$1.29	25d	1	1.29mi
1220 W Dixie Ave Leesburg, FL	3.0	2.0	1304	$1,600	$1.23	6d	1	1.31mi
200 S 11th St Unit 102 Leesburg, FL	2.0	2.5	1379	$1,675	$1.21	25d	1	1.39mi
200 S 11th St Leesburg, FL	2.0	2.0	1379	$1,675	$1.21	25d	1	1.40mi
716 Marietta St Leesburg, FL	3.0	2.0	1250	$1,600	$1.28	25d	1	1.49mi

Listing history 14 events

1. 2026-06-07
   statusdays on market $199,900 Pending 221 DOM
2. 2026-06-04
   days on market $199,900 Active 220 DOM
3. 2026-06-03
   days on market $199,900 Active 219 DOM
4. 2026-06-02
   days on market $199,900 Active 218 DOM
5. 2026-06-02
   days on market $199,900 Active 217 DOM
6. 2026-05-31
   days on market $199,900 Active 216 DOM
7. 2026-04-15
   status Active
8. 2026-04-09
   status Pending
9. 2026-03-27
   price $199,900
10. 2026-02-03
    price $209,900
11. 2025-12-26
    price $219,900
12. 2025-11-21
    price $224,900
13. 2025-10-21
    listed $229,900 Active
14. 1974-01-01
    soldstatus $23,500

ⓘ 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: $1,280 · $107/mo
• Projected year-2 tax: $1,659 · $138/mo
• Expected delta: +$379/yr (+$32/mo · 29.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°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: $19,914
• − Mortgage interest: −$11,198
• − Property taxes: −$1,280
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$5,815
• Taxable loss: −$2,565
• Est. tax savings @ 24.0%: +$616
• After-tax cash flow: $1,488/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

+750.6% since first listed

8 events — show timeline

• 2026-04-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-27 Price Changed $199,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-03 Price Changed $209,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-26 Price Changed $219,900 Stellar MLS as Distributed by MLS Grid
• 2025-11-21 Price Changed $224,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-21 Listed $229,900 Stellar MLS as Distributed by MLS Grid
• 1974-01-01 Sold (Public Records) $23,500 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,280 · +2.3% YoY. Source: county tax records.