22004 Belgian Ct · Mount Dora, FL 32757

$289,900

3 bd · 2.0 ba · 1,437 sqft · SingleFamily public records · 47 Days on market

Built 2013 Fair condition 4,609 sqft lot 2-car garage $202/sqft · 17% above area Est $368k · 21% under $475/mo HOA · 20% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +5.8/30.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Auction Property. The LIST PRICE is not indicative of Seller's Final Reserve amount. This Property is part of an ONLINE BIDDING EVENT. INSPECTIONS of this property and CONTACT with Occupants are strictly prohibited. Property is Sold "As-Is" and No For Sale Sign allowed. All offers from interested buyers must be entered online at the Auction website for the duration of the time that this property is in auction. Registration to bid is now available on the property's listing page on the auction website. Online Bidding will begin on June14th and ends June 16th.

Key facts

• Hot water heater
• Updated kitchen
• New lvp flooring

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• NEW LVP FLOORING
• NEW MECHANICALS
• HOT WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $290k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-578 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (35.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (18.7% below list).
• Recommended offer: $188k (35.2% below list) — sets the bar for cash-flow.
• Cap rate 3.9% vs local median 3.1% in Mount Dora — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#244 in FL, #3,860 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime 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: Round Lake Elementary School (math 76% / reading 71%, grade A, #260 of 2,144 statewide, top 13%, 1,194 students, 31% FRL, charter); Mt. Dora Middle School (math 45% / reading 45%, grade D, #310 of 571 statewide, top 56%, 846 students, 48% FRL); Mt. Dora High School (math 32% / reading 46%, grade F, #312 of 667 statewide, top 48%, 1,334 students, 38% FRL).
• Market conditions: Rents flat; 942 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 76d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 37% of the median local income ($77k/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 $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 47 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $204k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,843 (35.2% 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 47 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.81% ✗
• Cap rate: 3.90%
• Cash-on-cash: -8.54%
• DSCR: 0.62
• GRM: 10.2

CMA / ARV

• ARV (median comp): $367,644
• List price: $289,900
• Delta: -21.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22024 Belgian Ct	0.04mi	3/2.0	1,437 (0%)	0mo	$295,000	$205	98
22004 Belgian Ct	0.00mi	3/2.0	1,437 (0%)	3mo	$204,000	$142	98
20831 Sullivan Ranch Blvd	1.02mi	3/2.0	1,440 (+0%)	1mo	$320,000	$222	64
20926 Sullivan Ranch Blvd	0.95mi	3/2.0	1,440 (+0%)	5mo	$349,900	$243	60
30167 Rustic Mill St	0.16mi	3/2.0	1,709 (+19%)	11mo	$436,040	$255	58
30109 Misty Pines Rd	0.21mi	3/2.0	1,709 (+19%)	11mo	$379,990	$222	56
30606 Lipizzan Ter	0.45mi	3/2.0	1,715 (+19%)	1mo	$249,900	$146	54
30135 Emerald Forest Dr	0.45mi	3/2.0	1,709 (+19%)	1mo	$440,000	$257	53
4810 Magnetite Loop	0.93mi	3/2.0	1,540 (+7%)	2mo	$340,000	$221	51
5708 Rutherford Rd	0.50mi	3/2.0	1,691 (+18%)	2mo	$364,500	$216	50
30119 Tokara Ter	0.52mi	3/2.0	1,670 (+16%)	2mo	$440,000	$263	49
4809 Magnetite Loop	0.94mi	3/2.0	1,555 (+8%)	12mo	$364,000	$234	41

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 · 0.55% rent growth · sell at horizon

5-year hold

• IRR: -34.8%
• Equity multiple: -0.10×
• Total profit: $-89,140
• Equity at exit: $43,225

10-year hold

• IRR: -69.1%
• Equity multiple: -0.80×
• Total profit: $-145,928
• Equity at exit: $25,065

Cash invested: $81,172 (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 →

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

Active competition Active MLS

• For sale now: 11 active · 11 under contract
• Months of supply: 8.2 mo (12%/mo absorbed)
• Median asking: $328,000 ($218/sqft)
• Median days on market: 65 d
• This list price: 27% of active listings are priced below it
• ARV vs active asking: +17.4% above current asking $/sqft

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

ZIP-level market 32757

• Home prices YoY: -34.5%
• Rents YoY: 0.6%
• Active inventory: 942
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,357 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$324 /mo · $3,886/yr
• Insurance: −$121
• HOA: −$475
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $-578

Break-even live

Break-even rent $3,089

Max offer price $187,843

Occupancy floor —

Sensitivity live

Price	-10% $-414	-5% $-496	+0% $-578	+5% $-660	+10% $-742
Rent	-10% $-764	-5% $-671	+0% $-578	+5% $-485	+10% $-392
Rate	-1.0pp $-432	-0.5pp $-504	base $-578	+0.5pp $-653	+1.0pp $-729

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: $72,475
• Closing costs: $8,697
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22011 Belgian Ct Mount Dora, FL	3.0	2.0	1762	$2,200	$1.25	155d	1	0.01mi
21735 Belgian Ct Mount Dora, FL	3.0	2.0	1663	$2,395	$1.44	2d	1	0.19mi
30113 Saddlebred Ln Mount Dora, FL	3.0	2.0	1725	$2,340	$1.36	75d	1	0.53mi
5727 Rutherford Rd Mount Dora, FL	4.0	2.0	1584	$2,200	$1.39	158d	1	0.53mi
5736 Coquyt Dr Mount Dora, FL	3.0	2.0	1670	$2,185	$1.31	109d	1	0.60mi
22521 Coronado Somerset Dr Sorrento, FL	3.0	2.0	1674	$2,200	$1.31	1d	1	1.08mi
22521 Coronado Somerset Dr Sorrento, FL	3.0	2.0	1674	$2,200	$1.31	164d	1	1.08mi
5442 Limestone St Mount Dora, FL	4.0	2.0	1850	$2,694	$1.46	75d	1	1.14mi
5137 Tanzanite Dr Mount Dora, FL	4.0	2.0	1843	$2,700	$1.47	15d	1	1.20mi
5137 Tanzanite Dr Mount Dora, FL	4.0	2.0	1843	$2,700	$1.47	10d	1	1.20mi
4574 Boxwood Way Mount Dora, FL	4.0	2.0	1846	$2,395	$1.30	164d	1	1.44mi

Property features AI

Finance

• Other: Residential property (single family)Unfurnished
• HOA & community: Has HOA: Sullivan Ranch AssociationHOA dues approximately $475 monthlyAdditional monthly maintenance amount $695Association fee requiredSenior communityPets allowed

Exterior

• Parking: Attached garage2-car garage
• Utilities: Public waterPublic sewerPublic utilities
• Home design: Single family residenceOne storyWest-facing
• Construction: Block constructionShingle roofSlab foundationBuilt on 0.11 acre lot
• Exterior features: Paved, public maintained road accessFenced (other type)

Interior

• Kitchen: Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning
• Interior features: No notable interior features listedDishwasher
• Laundry & utility: Inside laundry

Listing history 50 events

1. 2026-11-08
   days on market $289,900 Active 47 DOM
2. 2026-11-07
   days on market $289,900 Active 46 DOM
3. 2026-11-06
   days on market $289,900 Active 45 DOM
4. 2026-11-05
   days on market $289,900 Active 44 DOM
5. 2026-11-04
   days on market $289,900 Active 43 DOM
6. 2026-11-02
   days on market $289,900 Active 41 DOM
7. 2026-11-01
   days on market $289,900 Active 40 DOM
8. 2026-10-31
   days on market $289,900 Active 39 DOM
9. 2026-10-30
   days on market $289,900 Active 38 DOM
10. 2026-10-30
    price $289,900 Active 37 DOM
11. 2026-10-29
    days on market $299,900 Active 37 DOM
12. 2026-10-28
    days on market $299,900 Active 36 DOM
13. 2026-10-27
    days on market $299,900 Active 35 DOM
14. 2026-10-26
    days on market $299,900 Active 34 DOM
15. 2026-10-26
    days on market $299,900 Active 33 DOM
16. 2026-10-24
    days on market $299,900 Active 32 DOM
17. 2026-10-23
    days on market $299,900 Active 31 DOM
18. 2026-10-22
    days on market $299,900 Active 30 DOM
19. 2026-10-21
    days on market $299,900 Active 29 DOM
20. 2026-10-20
    days on market $299,900 Active 28 DOM
21. 2026-10-19
    days on market $299,900 Active 27 DOM
22. 2026-10-18
    days on market $299,900 Active 26 DOM
23. 2026-10-17
    days on market $299,900 Active 25 DOM
24. 2026-10-16
    days on market $299,900 Active 24 DOM
25. 2026-10-15
    days on market $299,900 Active 23 DOM
26. 2026-10-14
    days on market $299,900 Active 22 DOM
27. 2026-10-13
    days on market $299,900 Active 21 DOM
28. 2026-10-12
    days on market $299,900 Active 20 DOM
29. 2026-10-11
    days on market $299,900 Active 19 DOM
30. 2026-10-10
    days on market $299,900 Active 18 DOM
31. 2026-10-09
    days on market $299,900 Active 17 DOM
32. 2026-10-08
    days on market $299,900 Active 16 DOM
33. 2026-10-08
    days on market $299,900 Active 15 DOM
34. 2026-10-06
    days on market $299,900 Active 14 DOM
35. 2026-10-05
    days on market $299,900 Active 13 DOM
36. 2026-10-04
    days on market $299,900 Active 12 DOM
37. 2026-10-03
    days on market $299,900 Active 11 DOM
38. 2026-10-02
    days on market $299,900 Active 10 DOM
39. 2026-10-01
    days on market $299,900 Active 9 DOM
40. 2026-09-30
    days on market $299,900 Active 8 DOM
41. 2026-09-29
    days on market $299,900 Active 7 DOM
42. 2026-09-28
    days on market $299,900 Active 6 DOM
43. 2026-09-27
    days on market $299,900 Active 5 DOM
44. 2026-09-25
    days on market $299,900 Active 3 DOM
45. 2026-09-24
    days on market $299,900 Active 2 DOM
46. 2026-09-22
    pricestatusdays on marketlisting id $299,900 Active 1 DOM
47. 2026-06-10
    statusdays on market $85,000 Pending 7 DOM
48. 2026-06-04
    days on market $85,000 Active 6 DOM
49. 2026-06-03
    days on market $85,000 Active 5 DOM
50. 2026-06-02
    days on market $85,000 Active 4 DOM

ⓘ 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: $3,886 · $324/mo
• Projected year-2 tax: $3,886 · $324/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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $28,287
• − Mortgage interest: −$16,239
• − Property taxes: −$3,886
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,263
• − Management: −$2,263
• − HOA: −$5,700
• − Depreciation: −$8,433
• Taxable loss: −$11,947
• Est. tax savings @ 24.0%: +$2,867
• After-tax cash flow: $-4,065/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 · 2 photos

Fair 45/100 Moderate rehab Est. rehab $35,925–$64,665 screening

The home is in fair condition with good roof and exterior. Landscaping and interior paint updates would significantly enhance its value.

Components & finishes AI

Roof asphalt shingle · good

Deferred maintenance Est. $1,500–$6,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Minor Windows (windows) — No visible signs of damage or wear on the windows.
• Minor Exterior (exterior) — No visible signs of damage or wear on the exterior.

Repairs flagged

• Minor Landscaping — Some overgrown areas need trimming
• Minor Landscaping — Some overgrown areas need trimming

Value-add opportunities

• Both Landscaping — Well-maintained landscaping enhances curb appeal and property value ↑
• Resale Interior paint — Fresh paint can make a significant difference in a home's appearance and value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 52/100

Zoned Schools

Elementary Round Lake Elementary School A FL #260/2,144 Nat'l #2,597/41,679 Middle Mt. Dora Middle School D FL #310/571 Nat'l #4,622/14,009 High Mt. Dora High School F FL #312/667 Nat'l #8,724/17,239

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 75/100

Livability — Mount Dora

• Score: 75/100
• State rank: #244
• US rank: #3860

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 386,640 people
• City population: 34,121
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 34,121
• Household income: $77,216
• Rent vs Own: 26.5% rent · 73.5% own
• Severe rent burden: 24% 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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 20% Black 12% Two or more races 11% Pacific Islander 1% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 7% Dominican 1%
• Languages at home: 83% English-only · Spanish 14% 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: ▼ -154.69%
• Current HPI: 293.4759
• Rent YoY: ▲ 0.55%
• 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: Residential property (single family)Unfurnished
• HOA & community: Has HOA: Sullivan Ranch AssociationHOA dues approximately $475 monthlyAdditional monthly maintenance amount $695Association fee requiredSenior communityPets allowed

Exterior

• Parking: Attached garage2-car garage
• Utilities: Public waterPublic sewerPublic utilities
• Home design: Single family residenceOne storyWest-facing
• Construction: Block constructionShingle roofSlab foundationBuilt on 0.11 acre lot
• Exterior features: Paved, public maintained road accessFenced (other type)

Interior

• Kitchen: Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning
• Interior features: No notable interior features listedDishwasher
• Laundry & utility: Inside laundry

Price history

+252.8% since first listed

5 events — show timeline

• 2026-09-22 Listed $299,900 Stellar MLS as Distributed by MLS Grid
• 2026-08-21 Sold (MLS) $204,000 Stellar MLS as Distributed by MLS Grid
• 2026-06-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-29 Listed $85,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-27 Listing Removed — Stellar MLS as Distributed by MLS Grid

Property tax history

+25.5%/yr

Latest (2025): $3,886 · +2.7% YoY. Source: county tax records.