Iris Plan · Mount Dora, FL 32757

$205,000

2 bd · 2.5 ba · 1,087 sqft · Townhouse · 176 Days on market

Good condition $353/mo HOA · 18% of rent

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +5.9/30.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +2.6/5.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Explore the Iris with approximately 1,087 square feet of living space, 2 bedrooms, and 2.5 bathrooms. Designed for maximum living space, The Iris is equipped with in-demand features and storage space. As you enter the foyer, the kitchen is at the front of the home with a large storage pantry and half bath. Continue into the dining area and great room. Outside the great room, enjoy a lanai. Upstairs you'll enjoy a private retreat to the primary suite. The second floor also features laundry and an additional bedroom and full bathroom.

Key facts

• Dining area
• Private retreat
• Great room

Tags

• LARGE STORAGE PANTRY
• PRIVATE RETREAT
• DINING AREA
• GREAT ROOM
• LANAI
• LAUNDRY

🏗️ New construction. The $205,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $242,500.

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $205k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-478 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (4.2% below list).
• Recommended offer: $173k (15.4% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 75d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% 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 31% 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 $7k 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 176 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.

Recommended offer $173,352 (15.4% 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 176 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
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. 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: 3.93%
• Cash-on-cash: -8.45%
• DSCR: 0.62
• GRM: 10.3

CMA / ARV

• ARV (median comp): $242,500
• List price: $205,000
• Delta: -15.46%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2774 Armadale Dr	0.03mi	2/2.5	1,087 (0%)	1mo	$199,000	$183	98
2782 Armadale Dr	0.02mi	2/2.5	1,087 (0%)	1mo	$205,000	$189	98
2786 Armadale Dr	0.02mi	2/2.5	1,087 (0%)	2mo	$199,999	$184	98
2778 Armadale Dr	0.02mi	2/2.5	1,087 (0%)	2mo	$199,000	$183	98
671 Ness Island Dr #671	0.09mi	2/2.5	1,087 (0%)	1mo	$215,000	$198	95
667 Ness Island Dr #667	0.09mi	2/2.5	1,087 (0%)	1mo	$215,000	$198	95
2770 Armadale Dr	0.04mi	2/2.5	1,073 (-1%)	2mo	$235,000	$219	95
675 Ness Island Dr #0	0.09mi	2/2.5	1,087 (0%)	1mo	$199,000	$183	95
694 Gladstone Way	0.06mi	2/2.5	1,087 (0%)	3mo	$259,999	$239	95
690 Gladstone Way	0.06mi	2/2.5	1,087 (0%)	3mo	$264,999	$244	94
698 Gladstone Way	0.05mi	2/2.5	1,073 (-1%)	3mo	$269,000	$251	93

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: -34.6%
• Equity multiple: -0.09×
• Total profit: $-74,209
• Equity at exit: $36,158

10-year hold

• IRR: -68.1%
• Equity multiple: -0.79×
• Total profit: $-121,265
• Equity at exit: $20,967

Cash invested: $67,900 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 28 under contract
• Months of supply: 3.4 mo (30%/mo absorbed)
• Median asking: $235,000 ($201/sqft)
• Median days on market: 17 d
• This list price: 11% of active listings are priced below it
• ARV vs active asking: +10.9% 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: 8.7×

Monthly cashflow live

• Estimated rent: $1,963 high
• Mortgage (P&I): −$1,272
• Tax est. 1.5%: −$303 /mo · $3,638/yr
• Insurance: −$101
• HOA: −$353
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-478

Break-even live

Break-even rent $2,568

Max offer price $173,352

Occupancy floor —

Sensitivity live

Price	-10% $-310	-5% $-394	+0% $-478	+5% $-562	+10% $-645
Rent	-10% $-633	-5% $-555	+0% $-478	+5% $-400	+10% $-323
Rate	-1.0pp $-356	-0.5pp $-416	base $-478	+0.5pp $-541	+1.0pp $-605

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: $60,625
• Closing costs: $7,275
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2507 Koji ST Mt Dora, FL	1.0–3.0	1.0–2.0	961	$2,234	$2.33	9d	9	0.06mi
2400 Peaceful River Dr Unit 1-206 Mt Dora, FL	1.0	1.0	871	$1,495	$1.72	10d	1	0.21mi
2280 Waterfall Ct Unit 4-302 Mt Dora, FL	2.0	2.0	1305	$1,795	$1.38	6d	1	0.39mi
1878 Stafford Springs Blvd Mount Dora, FL	2.0	2.0	1340	$2,250	$1.68	87d	1	0.52mi
1878 Stafford Springs Blvd Mount Dora, FL	2.0	2.0	1340	$2,250	$1.68	1d	1	0.52mi
1866 Stafford Springs Blvd Mount Dora, FL	2.0	2.0	1116	$1,800	$1.61	87d	1	0.54mi
260 Fearon Ave Unit 260 Mt Dora, FL	2.0	2.0	1300	$2,400	$1.85	69d	1	0.71mi
1517 N Grandview St Mount Dora, FL	3.0	2.0	1008	$1,800	$1.79	9d	1	0.77mi
1517 N Grandview St Unit 1 Mt Dora, FL	3.0	2.0	1008	$1,800	$1.79	3d	1	0.77mi
1103 Grant Ave Mount Dora, FL	3.0	1.0	1040	$1,550	$1.49	72d	1	0.79mi
1103 Grant Ave Mount Dora, FL	3.0	1.0	1000	$1,550	$1.55	107d	1	0.79mi
1024 Grant Ave Mount Dora, FL	2.0	1.0	736	$1,600	$2.17	10d	1	0.80mi
1418 N Orange St Mount Dora, FL	2.0	1.0	756	$1,650	$2.18	107d	1	0.81mi
1424 N Tremain St Mt Dora, FL	2.0	1.5	750	$1,250	$1.67	87d	1	0.87mi
1422 N Tremain St Unit 1422 Mt Dora, FL	2.0	1.5	750	$2,000	$2.67	164d	1	0.88mi
1423 N Tremain St Mount Dora, FL	3.0	2.0	1096	$1,745	$1.59	164d	1	0.88mi
1422 N Tremain St Mount Dora, FL	2.0	1.5	750	$1,250	$1.67	139d	1	0.88mi
1515 Lincoln Ave Mount Dora, FL	2.0–3.0	1.5–2.0	963	$1,499	$1.56	69d	2	0.95mi
1127 E 11th Ave Mount Dora, FL	3.0	2.0	1226	$2,600	$2.12	107d	1	1.04mi
321 E 11th Ave Mount Dora, FL	3.0	2.0	1350	$1,900	$1.41	55d	1	1.04mi
1006 E 11th Ave Mount Dora, FL	2.0	2.0	1390	$2,300	$1.65	101d	1	1.05mi
1210 N Donnelly St Mount Dora, FL	3.0	2.0	1277	$2,800	$2.19	127d	1	1.05mi
1019 N Tremain St Unit 1017 Mt Dora, FL	2.0	2.0	1344	$1,499	$1.12	164d	1	1.12mi
949 N Grandview St Mount Dora, FL	3.0	1.0	1172	$2,100	$1.79	145d	1	1.13mi
928 N Rossiter St Mt Dora, FL	2.0	2.0	900	$1,306	$1.45	75d	1	1.15mi
551 E 9th Ave Mount Dora, FL	2.0	1.0	1148	$1,495	$1.30	123d	1	1.15mi
401 E 9th Ave Mount Dora, FL	2.0	1.5	984	$2,800	$2.85	10d	1	1.18mi
401 E 9th Ave Mount Dora, FL	2.0	2.0	984	$2,800	$2.85	75d	1	1.18mi
3025 Andover Ct Mount Dora, FL	2.0	2.0	1380	$2,000	$1.45	55d	1	1.19mi
119 W 10th Ave Mount Dora, FL	2.0	2.0	1112	$1,800	$1.62	128d	1	1.20mi
625 E 8th Ave Mount Dora, FL	3.0	2.0	1160	$2,100	$1.81	129d	1	1.21mi
1426 Crestview Dr Mount Dora, FL	2.0	1.5	1314	$2,250	$1.71	103d	1	1.26mi
1426 Crestview Dr Mount Dora, FL	2.0	1.5	1314	$2,195	$1.67	36d	1	1.26mi
8744 Bridgeport Bay Cir Mount Dora, FL	3.0	2.0	960	$1,219	$1.27	1d	1	1.34mi
31850 Sailor LOOP Mt Dora, FL	2.0	1.0	877	$1,499	$1.71	7d	2	1.35mi
229 E 6th Ave Mount Dora, FL	2.0	1.0	1168	$4,200	$3.60	10d	1	1.38mi
905 W 11th Ave Mount Dora, FL	3.0	2.0	1490	$3,300	$2.21	10d	1	1.39mi
502 N Simpson St Mount Dora, FL	2.0	2.0	1106	$1,785	$1.61	162d	1	1.39mi
501 N Simpson St Mount Dora, FL	2.0	2.0	960	$1,700	$1.77	164d	1	1.40mi
601 W Old US Highway 441 Unit 8B Mt Dora, FL	2.0	2.0	1396	$2,095	$1.50	1d	1	1.41mi

Property features AI

Finance

• Financial info: List price $249,999

Exterior

• Home design: New construction plan (Iris)Located in Mount Dora, FL
• Exterior features: Living area approximately 1,087

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Plan named IrisActive plan listing

Listing history 50 events

1. 2026-10-26
   days on market $205,000 Active 176 DOM
2. 2026-10-26
   days on market $205,000 Active 175 DOM
3. 2026-10-24
   days on market $205,000 Active 174 DOM
4. 2026-10-23
   days on market $205,000 Active 173 DOM
5. 2026-10-22
   days on market $205,000 Active 172 DOM
6. 2026-10-21
   days on market $205,000 Active 171 DOM
7. 2026-10-20
   days on market $205,000 Active 170 DOM
8. 2026-10-19
   days on market $205,000 Active 169 DOM
9. 2026-10-18
   days on market $205,000 Active 168 DOM
10. 2026-10-17
    days on market $205,000 Active 167 DOM
11. 2026-10-16
    days on market $205,000 Active 166 DOM
12. 2026-10-15
    days on market $205,000 Active 165 DOM
13. 2026-10-14
    days on market $205,000 Active 164 DOM
14. 2026-10-13
    days on market $205,000 Active 163 DOM
15. 2026-10-12
    days on market $205,000 Active 162 DOM
16. 2026-10-11
    days on market $205,000 Active 161 DOM
17. 2026-10-10
    days on market $205,000 Active 160 DOM
18. 2026-10-09
    days on market $205,000 Active 159 DOM
19. 2026-10-08
    days on market $205,000 Active 158 DOM
20. 2026-10-08
    days on market $205,000 Active 157 DOM
21. 2026-10-06
    days on market $205,000 Active 156 DOM
22. 2026-10-05
    days on market $205,000 Active 155 DOM
23. 2026-10-04
    days on market $205,000 Active 154 DOM
24. 2026-10-03
    days on market $205,000 Active 153 DOM
25. 2026-10-03
    price $205,000 Active 152 DOM
26. 2026-10-02
    days on market $215,000 Active 152 DOM
27. 2026-10-01
    days on market $215,000 Active 151 DOM
28. 2026-10-01
    days on market $215,000 Active 150 DOM
29. 2026-09-29
    days on market $215,000 Active 149 DOM
30. 2026-09-28
    days on market $215,000 Active 148 DOM
31. 2026-09-27
    days on market $215,000 Active 147 DOM
32. 2026-09-25
    price $215,000 Active 145 DOM
33. 2026-09-25
    days on market $224,000 Active 145 DOM
34. 2026-09-24
    pricedays on market $224,000 Active 144 DOM
35. 2026-08-31
    days on market $215,000 Active 141 DOM
36. 2026-08-30
    days on market $215,000 Active 140 DOM
37. 2026-08-29
    days on market $215,000 Active 139 DOM
38. 2026-08-28
    pricedays on market $215,000 Active 138 DOM
39. 2026-08-27
    days on market $205,000 Active 137 DOM
40. 2026-08-25
    days on market $205,000 Active 135 DOM
41. 2026-08-24
    days on market $205,000 Active 134 DOM
42. 2026-08-22
    days on market $205,000 Active 132 DOM
43. 2026-08-21
    days on market $205,000 Active 131 DOM
44. 2026-08-20
    price $205,000 Active 130 DOM
45. 2026-08-20
    days on market $199,000 Active 130 DOM
46. 2026-08-19
    days on market $199,000 Active 129 DOM
47. 2026-08-18
    days on market $199,000 Active 128 DOM
48. 2026-08-17
    days on market $199,000 Active 127 DOM
49. 2026-08-16
    days on market $199,000 Active 126 DOM
50. 2026-08-15
    price $199,000 Active 124 DOM

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

Taxation est. · year 1

• Rental income: $23,559
• − Mortgage interest: −$13,584
• − Property taxes: −$3,638
• − Insurance: −$1,212
• − Repairs & maintenance: −$1,885
• − Management: −$1,885
• − HOA: −$4,236
• − Depreciation: −$7,055
• Taxable loss: −$9,934
• Est. tax savings @ 24.0%: +$2,384
• After-tax cash flow: $-3,350/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 · 12 photos

Good 80/100 None rehab

This townhouse is in excellent condition with modern finishes and a well-maintained exterior. Minor touch-ups, such as painting the exterior siding and replacing window blinds, can further enhance its resale and rental value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Replace window blinds — Modern blinds can improve the aesthetic and functionality of the windows. ↑

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Triangle Elementary School F FL #1,609/2,144 Nat'l #21,438/41,679 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

• Financial info: List price $249,999

Exterior

• Home design: New construction plan (Iris)Located in Mount Dora, FL
• Exterior features: Living area approximately 1,087

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Plan named IrisActive plan listing