320 N Forest Blvd · Lake Mary, FL 32746

$200,000

2 bd · 2.0 ba · 1,260 sqft · Manufactured public records · 121 Days on market

Built 1974 5,100 sqft lot Est $220k · 9% under $232/mo HOA · 11% 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 +16.6/30.0
• ARV discount +11.7/15.0
• 1% rule +6.0/10.0
• DSCR +5.1/10.0
• Schools +5.1/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and very well kept home in The Forest. Good location near clubhouse. Many upgrades, wood flooring throughout, elec. fireplace, garage, workshop, screened porch, patio with built in grill, fruit trees. Convenient locale minutes from the mall.

Key facts

• Screened rear patio
• Cozy fireplace
• Built-in bookshelves

Tags

• WALKING DISTANCE TO SHOPPING
• COZY FIREPLACE
• BUILT-IN BOOKSHELVES
• SCREENED REAR PATIO
• TREX-STYLE BACKYARD DECK
• BRAND-NEW FRONT WOOD DECK

Property features AI

Finance

• Other: Directions: From I-4 head east on Lake Mary Blvd. Turn left into the community on N Forest Blvd. House is on the left before the clubhouse
• Financial info: Total annual HOA/fees approximately $2,793
• HOA & community: Monthly HOA fee of $232.75; HOA includes cable TV, internet, and trash; Community clubhouse, pool, spa/hot tub, sauna, recreation facilities; Tennis, pickleball and shuffleboard courts; Trails, street lights, community mailbox; Gated community with deed restrictions; Laundry facilities (community); Golf carts allowed; Senior community; Pets allowed (max 40 lbs); Association managed by Bono Management/Penny Macioszek

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected; Sewer connected
• Home design: Residential mobile home (double wide); One level; Home faces west
• Construction: Metal siding; Shingle roof; Crawlspace foundation; Built as double wide mobile home
• Exterior features: Front porch; Rear porch; Screened porch; Exterior storage; Paved lot; Mature landscaping; Asphalt road; Private maintained road

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Crown molding; Eat-in kitchen; Living room/dining room combo; Blinds; Electric fireplace in family room; Family room fireplace
• Laundry & utility: Washer; Dryer; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 3.3% in Lake Mary — 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 80/100 on livability (#128 in FL, #1,923 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: commute F, cost of living D-.
• Seminole (suburban): math 57% / reading 61% proficiency, ranked #13 of 73 in FL (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.0%/yr); 322 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,979 units permitted in Seminole County in 2024 (1,191 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.
• Seminole County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $157k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 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 1974 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.10% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.58%
• DSCR: 1.11
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $220,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
242 Peppertree Ct	0.13mi	2/2.0	1,260 (0%)	12mo	$249,000	$198	84
203 N Forest Blvd	0.08mi	2/2.0	1,180 (-6%)	7mo	$138,200	$117	80
616 Woodland Ct	0.06mi	2/2.0	1,344 (+7%)	10mo	$213,000	$158	78
410 N Niblick Ln	0.12mi	2/2.0	1,200 (-5%)	10mo	$245,000	$204	78
311 N Forest Blvd	0.05mi	2/2.0	1,134 (-10%)	4mo	$100,000	$88	78
151 E Plantation Blvd	0.22mi	2/2.0	1,227 (-3%)	10mo	$193,000	$157	77
774 Pond View Ct	0.30mi	2/2.0	1,275 (+1%)	8mo	$250,000	$196	77
606 Timberlane Dr	0.16mi	2/2.0	1,200 (-5%)	9mo	$240,000	$200	77
144 E Plantation Blvd	0.24mi	2/2.0	1,341 (+6%)	3mo	$235,000	$175	75
149 E Plantation Blvd	0.23mi	2/2.0	1,227 (-3%)	12mo	$205,000	$167	75
114 E Plantation Blvd	0.19mi	2/2.0	1,374 (+9%)	4mo	$215,000	$156	72
116 E Plantation Blvd	0.20mi	2/2.0	1,359 (+8%)	11mo	$245,000	$180	69

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 · 1.0% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.48×
• Total profit: $-28,907
• Equity at exit: $29,821

10-year hold

• IRR: -10.3%
• Equity multiple: 0.43×
• Total profit: $-31,672
• Equity at exit: $17,292

Cash invested: $56,000 (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 32746

• Home prices YoY: -21.9%
• Rents YoY: 1.0%
• Active inventory: 322
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,195 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$232
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $120

Break-even live

Break-even rent $2,043

Max offer price $200,000

Occupancy floor 90%

Sensitivity live

Price	-10% $258	-5% $189	+0% $120	+5% $51	+10% $-18
Rent	-10% $-53	-5% $34	+0% $120	+5% $207	+10% $294
Rate	-1.0pp $221	-0.5pp $171	base $120	+0.5pp $68	+1.0pp $16

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
780 Creekwater Ter Lake Mary, FL	1.0–3.0	1.0–2.0	957	$1,665	$1.74	25d	1	0.57mi
252 Wheelhouse Ln Lake Mary, FL	3.0	1.0–2.0	1043	$2,751	$2.64	3d	12	0.57mi
1000 Regal Pointe Ter Lake Mary, FL	1.0–4.0	1.0–2.0	1002	$1,691	$1.69	3d	21	0.60mi
474 Wishbone Ln Lake Mary, FL	3.0	2.5	1733	$2,750	$1.59	25d	1	0.61mi
1011 Lychee Ct Lake Mary, FL	3.0	2.5	1612	$2,800	$1.74	6d	1	0.65mi
683 Randon Ter Lake Mary, FL	3.0	2.5	1593	$2,495	$1.57	19d	1	0.69mi
937 Birmingham Ct Lake Mary, FL	3.0	2.0	1178	$2,050	$1.74	25d	1	0.85mi
645 Astera Winds Ln Lake Mary, FL	3.0	2.5	1844	$3,800	$2.06	25d	1	0.86mi
938 Framlingham Ct #206 Lake Mary, FL	2.0	2.0	998	$1,750	$1.75	25d	1	0.93mi
356 Amethyst Ct Lake Mary, FL	3.0	2.0	1666	$1,200	$0.72	13d	1	0.98mi
600 Birgham Pl Lake Mary, FL	3.0	2.0	1544	$2,490	$1.61	6d	1	1.27mi
797 Minerva Ln Lake Mary, FL	3.0	2.0	1518	$2,345	$1.54	4d	1	1.29mi
291 Ruskin St Lake Mary, FL	2.0	2.0	981	$1,395	$1.42	6d	1	1.31mi
420 Sun Lake Cir Lake Mary, FL	1.0–3.0	1.0–2.0	949	$1,770	$1.86	4d	17	1.31mi
542 Queensbridge Dr Lake Mary, FL	3.0	2.0	1408	$2,395	$1.70	25d	1	1.37mi
700 Oakland Hills Cir Lake Mary, FL	1.0–3.0	1.0–2.0	1128	$2,153	$1.91	3d	17	1.38mi
726 Birgham Pl Lake Mary, FL	3.0	2.0	1518	$1,995	$1.31	16d	1	1.38mi
251 S 3rd St Lake Mary, FL	2.0	1.0	1152	$1,700	$1.48	4d	1	1.42mi
163 Villa Di Este Ter #209 Lake Mary, FL	2.0	2.0	1182	$1,870	$1.58	23d	1	1.46mi
191 Villa Di Este Ter #213 Lake Mary, FL	3.0	2.0	1731	$2,450	$1.42	23d	1	1.49mi

HOA detail

• Monthly dues: $232 · $2,784/yr

Listing history 27 events

1. 2026-06-21
   days on market $200,000 Active 121 DOM
2. 2026-06-18
   days on market $200,000 Active 118 DOM
3. 2026-06-17
   days on market $200,000 Active 117 DOM
4. 2026-06-16
   days on market $200,000 Active 116 DOM
5. 2026-06-15
   days on market $200,000 Active 115 DOM
6. 2026-06-13
   days on market $200,000 Active 113 DOM
7. 2026-06-10
   price $200,000 Active 109 DOM
8. 2026-06-09
   days on market $210,000 Active 109 DOM
9. 2026-06-08
   days on market $210,000 Active 108 DOM
10. 2026-06-07
    days on market $210,000 Active 107 DOM
11. 2026-06-04
    days on market $210,000 Active 104 DOM
12. 2026-06-03
    days on market $210,000 Active 103 DOM
13. 2026-06-02
    days on market $210,000 Active 102 DOM
14. 2026-06-02
    days on market $210,000 Active 101 DOM
15. 2026-05-31
    days on market $210,000 Active 100 DOM
16. 2026-05-01
    price $210,000
17. 2026-02-20
    listed $220,000 Active
18. 2006-12-15
    soldstatus $157,000
19. 2006-12-08
    soldstatus $157,000 250-char remark

    Show marketing remark (250 chars)

    Charming and very well kept home in The Forest. Good location near clubhouse. Many upgrades, wood flooring throughout, elec. fireplace, garage, workshop, screened porch, patio with built in grill, fruit trees. Convenient locale minutes from the mall.

20. 2006-11-14
    listed $159,900 250-char remark

    Show marketing remark (250 chars)

    Charming and very well kept home in The Forest. Good location near clubhouse. Many upgrades, wood flooring throughout, elec. fireplace, garage, workshop, screened porch, patio with built in grill, fruit trees. Convenient locale minutes from the mall.

21. 2005-03-23
    soldstatus $102,300
22. 2005-01-04
    soldstatus $102,300 335-char remark

    Show marketing remark (335 chars)

    Charming 2/2 in the Forest, Senior gated community. This one is ready to go!Move-In NOW. Beautiful garden setting with Koi pond. Enclosed 1 car garage. Pets permitted here. Whirlpool tub & separate shower in mstr. All appliances stay. Don't miss this one!Seller will not fix doorbell or the broken latch on stove door in kitchen.

23. 2004-10-29
    listed $107,900 335-char remark

    Show marketing remark (335 chars)

    Charming 2/2 in the Forest, Senior gated community. This one is ready to go!Move-In NOW. Beautiful garden setting with Koi pond. Enclosed 1 car garage. Pets permitted here. Whirlpool tub & separate shower in mstr. All appliances stay. Don't miss this one!Seller will not fix doorbell or the broken latch on stove door in kitchen.

24. 1997-10-03
    soldstatus $63,000
25. 1989-09-01
    soldstatus $59,500
26. 1989-05-01
    soldstatus $50,000
27. 1980-12-01
    soldstatus $52,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 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: $26,345
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,108
• − Management: −$2,108
• − HOA: −$2,784
• − Depreciation: −$5,818
• Taxable loss: −$1,675
• Est. tax savings @ 24.0%: +$402
• After-tax cash flow: $1,845/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: Seminole
• NCES district ID: 1201710
• Math proficiency: 57% ▼ -7.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $58,478
• Composite: 51.05/100
• National rank: #1769
• State rank: #13 of 73 in FL

Livability — Lake Mary

• Score: 80/100
• State rank: #128
• US rank: #1923

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Mary, FL
• County: Seminole County · 436,154 people
• City population: 46,684
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 46,684
• Household income: $104,775
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1929.0

Population outlook (Seminole County) Hauer SSP2

• Today (2025): 515,494 people
• By 2030: 545,713 · +5.9%
• By 2040: 598,068 · +16.0%
• By 2050: 640,663 · +24.3%
• By 2075: 724,461 · +40.5%
• By 2100: 755,530 · +46.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 64% Hispanic / Latino 17% Two or more races 11% Asian 9% Black 7%
• Hispanic origin (detail): Puerto Rican 7% Cuban 2% Dominican 2%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 18% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 5% Other Asian/Pacific 1%

Political lean MEDSL · Seminole

• 2024 margin: Toss-up / Even · D 47.6% · R 51.1% · Other 1.3%
• 2008→2024 swing: -0.8pp no change · 2008: -2.8pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.8 2016: R+1.6 2012: R+6.5 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.09%
• Current HPI: 274.7765
• Rent YoY: ▲ 1.00%
• 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

+297.0% since first listed

12 events — show timeline

• 2026-05-01 Price Changed $210,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-20 Listed $220,000 Stellar MLS as Distributed by MLS Grid
• 2006-12-15 Sold (Public Records) $157,000 Public Records
• 2006-12-08 Sold (MLS) $157,000 Stellar MLS as Distributed by MLS Grid
• 2006-11-14 Listed $159,900 Stellar MLS as Distributed by MLS Grid
• 2005-03-23 Sold (Public Records) $102,300 Public Records
• 2005-01-04 Sold (MLS) $102,300 Stellar MLS as Distributed by MLS Grid
• 2004-10-29 Listed $107,900 Stellar MLS as Distributed by MLS Grid
• 1997-10-03 Sold (Public Records) $63,000 Public Records
• 1989-09-01 Sold (Public Records) $59,500 Public Records
• 1989-05-01 Sold (Public Records) $50,000 Public Records
• 1980-12-01 Sold (Public Records) $52,900 Public Records

Property tax history

+0.6%/yr

Latest (2025): $363 · +7.9% YoY. Source: county tax records.