38237 Oriole Way · Lisbon, FL 34788

$85,000

1 bd · 1.0 ba · 396 sqft · Condo public records · 143 Days on market

Built 1994 $150/mo HOA

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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 +26.5/30.0
• 1% rule +9.1/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Huge Price improvement only 2 weeks in! Come get it now! If you're 55+, want to own your land, and don't want to pay crazy lot rent for nice amenities, this is truly a steal. What you see is what you get, and as you can see, you get quite a lot! Turnkey home in Palm Shores RV Resort where you own your land! Co-op community with only a $150/mo fee. Recently renovated with modern updates and permitted addition and large shed! This charming 2/1 home has everything you need to beat the high cost of Florida real estate, in a great location! Great for full-time residency, an affordable getaway, or a lucrative rental investment. Community clubhouse, heated pool and hot tub, and Marina access are all yours! Come see it and make it yours today!

Key facts

• Hot tub
• Community clubhouse
• Permitted addition

Tags

• PERMITTED ADDITION
• COMMUNITY CLUBHOUSE
• HEATED POOL
• HOT TUB
• MARINA

Property features AI

Finance

• Other: Private lake access to Lake Yale (Chain of Lakes) with private boat ramp
• Financial info: Lease restrictions apply
• HOA & community: Has HOA with $150 monthly fee ($1,800 annually); Association approval required; Clubhouse; Senior community; Pets allowed; Furnished

Exterior

• Parking:
• Security:
• Utilities: Private water source; Private sewer; Electricity connected; Water connected; Sewer connected; Paved road access
• Home design: Manufactured single-wide home; One story; Faces east
• Construction: Vinyl siding; Metal roof; Built on crawlspace
• Exterior features: Porch; Awnings

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Thermostat; Window treatments; 4 total rooms
• Laundry & utility: Inside laundry; Washer; Dryer; Crawlspace foundation

🏢 Co-op / cooperative unit. The $85,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 5.5% in Lisbon — 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 65/100 on livability (#642 in FL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: schools 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.
• Market conditions: 285 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 $588 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $15k (15%) 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; moderate 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.41% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.39%
• DSCR: 1.51
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $713
• Equity at exit: $12,674

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $19,550
• Equity at exit: $7,349

Cash invested: $23,800 (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 34788

• Home prices YoY: -18.2%
• Active inventory: 285
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,197 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$89 /mo · $1,065/yr
• Insurance: −$35
• HOA: −$150
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $226

Break-even live

Break-even rent $911

Max offer price $85,000

Occupancy floor 76%

Sensitivity live

Price	-10% $274	-5% $250	+0% $226	+5% $202	+10% $178
Rent	-10% $131	-5% $179	+0% $226	+5% $273	+10% $320
Rate	-1.0pp $269	-0.5pp $248	base $226	+0.5pp $204	+1.0pp $181

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38045 Bluebird Cir Leesburg, FL	1.0	1.0	224	$650	$2.90	24d	1	0.17mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-19
   price $85,000 Active 143 DOM
2. 2026-06-18
   days on market $95,000 Active 143 DOM
3. 2026-06-17
   days on market $95,000 Active 142 DOM
4. 2026-06-16
   days on market $95,000 Active 141 DOM
5. 2026-06-15
   days on market $95,000 Active 140 DOM
6. 2026-06-13
   days on market $95,000 Active 138 DOM
7. 2026-06-09
   days on market $95,000 Active 134 DOM
8. 2026-06-08
   days on market $95,000 Active 133 DOM
9. 2026-06-07
   days on market $95,000 Active 132 DOM
10. 2026-06-04
    days on market $95,000 Active 129 DOM
11. 2026-06-03
    days on market $95,000 Active 128 DOM
12. 2026-06-02
    days on market $95,000 Active 127 DOM
13. 2026-06-02
    days on market $95,000 Active 126 DOM
14. 2026-05-31
    days on market $95,000 Active 125 DOM
15. 2026-03-10
    price $95,000
16. 2026-01-26
    listed $100,000 Active
17. 2024-04-09
    soldstatus $90,000 Closed 754-char remark

    Show marketing remark (754 chars)

    Huge Price improvement only 2 weeks in! Come get it now! If you're 55+, want to own your land, and don't want to pay crazy lot rent for nice amenities, this is truly a steal. What you see is what you get, and as you can see, you get quite a lot! Turnkey home in Palm Shores RV Resort where you own your land! Co-op community with only a $150/mo fee. Recently renovated with modern updates and permitted addition and large shed! This charming 2/1 home has everything you need to beat the high cost of Florida real estate, in a great location! Great for full-time residency, an affordable getaway, or a lucrative rental investment. Community clubhouse, heated pool and hot tub, and Marina access are all yours! Come see it and make it yours today!

18. 2024-04-05
    status Pending 754-char remark

    Show marketing remark (754 chars)

    Huge Price improvement only 2 weeks in! Come get it now! If you're 55+, want to own your land, and don't want to pay crazy lot rent for nice amenities, this is truly a steal. What you see is what you get, and as you can see, you get quite a lot! Turnkey home in Palm Shores RV Resort where you own your land! Co-op community with only a $150/mo fee. Recently renovated with modern updates and permitted addition and large shed! This charming 2/1 home has everything you need to beat the high cost of Florida real estate, in a great location! Great for full-time residency, an affordable getaway, or a lucrative rental investment. Community clubhouse, heated pool and hot tub, and Marina access are all yours! Come see it and make it yours today!

19. 2024-03-27
    price $94,900 754-char remark

    Show marketing remark (754 chars)

    Huge Price improvement only 2 weeks in! Come get it now! If you're 55+, want to own your land, and don't want to pay crazy lot rent for nice amenities, this is truly a steal. What you see is what you get, and as you can see, you get quite a lot! Turnkey home in Palm Shores RV Resort where you own your land! Co-op community with only a $150/mo fee. Recently renovated with modern updates and permitted addition and large shed! This charming 2/1 home has everything you need to beat the high cost of Florida real estate, in a great location! Great for full-time residency, an affordable getaway, or a lucrative rental investment. Community clubhouse, heated pool and hot tub, and Marina access are all yours! Come see it and make it yours today!

20. 2024-03-20
    price $104,900 754-char remark

    Show marketing remark (754 chars)

    Huge Price improvement only 2 weeks in! Come get it now! If you're 55+, want to own your land, and don't want to pay crazy lot rent for nice amenities, this is truly a steal. What you see is what you get, and as you can see, you get quite a lot! Turnkey home in Palm Shores RV Resort where you own your land! Co-op community with only a $150/mo fee. Recently renovated with modern updates and permitted addition and large shed! This charming 2/1 home has everything you need to beat the high cost of Florida real estate, in a great location! Great for full-time residency, an affordable getaway, or a lucrative rental investment. Community clubhouse, heated pool and hot tub, and Marina access are all yours! Come see it and make it yours today!

21. 2024-03-11
    listed $109,500 Active 754-char remark

    Show marketing remark (754 chars)

    Huge Price improvement only 2 weeks in! Come get it now! If you're 55+, want to own your land, and don't want to pay crazy lot rent for nice amenities, this is truly a steal. What you see is what you get, and as you can see, you get quite a lot! Turnkey home in Palm Shores RV Resort where you own your land! Co-op community with only a $150/mo fee. Recently renovated with modern updates and permitted addition and large shed! This charming 2/1 home has everything you need to beat the high cost of Florida real estate, in a great location! Great for full-time residency, an affordable getaway, or a lucrative rental investment. Community clubhouse, heated pool and hot tub, and Marina access are all yours! Come see it and make it yours today!

22. 1995-04-04
    soldstatus $6,500
23. 1993-12-13
    soldstatus $1,000

ⓘ 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: $1,065 · $89/mo
• Projected year-2 tax: $1,065 · $89/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 · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,367
• − Mortgage interest: −$4,761
• − Property taxes: −$1,065
• − Insurance: −$425
• − Repairs & maintenance: −$1,149
• − Management: −$1,149
• − HOA: −$1,800
• − Depreciation: −$2,473
• Taxable income: $1,544
• Est. tax owed @ 24.0%: −$371
• After-tax cash flow: $2,340/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 — Lisbon

• Score: 65/100
• State rank: #642
• US rank: #12649

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 364,602 people
• City population: 21,867
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 22,137
• Household income: $54,147
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 406.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 1% Tagalog/Filipino 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: ▼ -61.07%
• Current HPI: 273.6616
• Rent YoY: —
• 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

+9400.0% since first listed

9 events — show timeline

• 2026-03-10 Price Changed $95,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-26 Listed $100,000 Stellar MLS as Distributed by MLS Grid
• 2024-04-09 Sold (MLS) $90,000 Stellar MLS as Distributed by MLS Grid
• 2024-04-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-03-27 Price Changed $94,900 Stellar MLS as Distributed by MLS Grid
• 2024-03-20 Price Changed $104,900 Stellar MLS as Distributed by MLS Grid
• 2024-03-11 Listed $109,500 Stellar MLS as Distributed by MLS Grid
• 1995-04-04 Sold (Public Records) $6,500 Public Records
• 1993-12-13 Sold (Public Records) $1,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $1,065 · -2.3% YoY. Source: county tax records.