217 Streamwater Way · Mascotte, FL 34736

$376,000

4 bd · 2.0 ba · 1,848 sqft · Land · 90 Days on market

Built 2026 6,000 sqft lot $117/mo HOA · 4% 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).

• Cash flow +7.8/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

What's Special: Larger Lot | White Cabinets | Large Kitchen Island | Covered Patio. New Construction - Ready Now! Built by Taylor Morrison, America's Most Trusted Home Builder. Welcome to the Cypress at 217 Streamwater Way in Waterstone. This cozy new single-story home feels warm and inviting from the moment you step inside. You’ll appreciate the seamless flow between the great room, dining room, and kitchen, creating an open space that’s both practical and stylish. The kitchen features quartz countertops, 36" cabinets, a walk-in pantry, and a spacious island designed to make everyday cooking and casual gatherings feel effortless. Sliding doors lead you out to the covered l

Key facts

• Large kitchen island
• Covered patio
• Covered lanai

Tags

• LARGER LOT
• LARGE KITCHEN ISLAND
• COVERED PATIO
• WALK-IN PANTRY
• COVERED LANAI
• PLANNED COMMUNITY AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $376k.

Deal economics

• At list price, monthly cash flow is $-421 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $302k (19.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (30.0% below list).
• Recommended offer: $263k (30.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#405 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: 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: Groveland Elementary School (math 30% / reading 32%, grade F, #1,854 of 2,144 statewide, top 87%, 744 students, 63% FRL); South Lake High School (math 36% / reading 39%, grade F, #336 of 667 statewide, top 51%, 2,169 students, 40% FRL) — zoned schools at 52% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 50% district-wide (-15 pts) — the specific schools serving this property underperform the Lake average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.7%/yr); 585 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 35% of the median local income ($91k/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 $3k of loan paydown is wiped out by about $11k 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 90 days — a 6% lower offer ($353k) is reasonable based on typical stale-listing flexibility.

Recommended offer $263,080 (30.0% 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 90 days. Have you received any prior offers? Is the seller open to a 30% 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. 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. 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: 0.70% ✗
• Cap rate: 4.95%
• Cash-on-cash: -4.80%
• DSCR: 0.79
• GRM: 11.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.67% rent growth · sell at horizon

5-year hold

• IRR: -25.9%
• Equity multiple: 0.13×
• Total profit: $-91,224
• Equity at exit: $56,063

10-year hold

• IRR: -27.1%
• Equity multiple: -0.21×
• Total profit: $-127,914
• Equity at exit: $32,510

Cash invested: $105,280 (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 34736

• Home prices YoY: -22.5%
• Rents YoY: 1.7%
• Active inventory: 585
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,631 high
• Mortgage (P&I): −$1,972
• Tax from tax record: −$254 /mo · $3,044/yr
• Insurance: −$157
• HOA: −$117
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $-421

Break-even live

Break-even rent $3,163

Max offer price $301,667

Occupancy floor —

Sensitivity live

Price	-10% $-208	-5% $-314	+0% $-421	+5% $-527	+10% $-634
Rent	-10% $-629	-5% $-525	+0% $-421	+5% $-317	+10% $-213
Rate	-1.0pp $-231	-0.5pp $-325	base $-421	+0.5pp $-518	+1.0pp $-617

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: $94,000
• Closing costs: $11,280
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7201 Big Cedar Aly Groveland, FL	3.0	2.5	1500	$2,000	$1.33	24d	1	0.46mi
338 Ridgemark Ave Groveland, FL	4.0	2.0	1824	$2,300	$1.26	5d	1	0.52mi
187 Hydra Way Groveland, FL	4.0	3.0	2542	$2,699	$1.06	24d	1	0.75mi
201 Sangmon Ct Groveland, FL	3.0	2.5	1920	$2,299	$1.20	5d	1	0.80mi
6612 Tempo Way Mascotte, FL	3.0	2.0	1990	$2,600	$1.31	5d	1	1.11mi
2009 Sloans Outlook Dr Groveland, FL	3.0	2.0	1670	$2,250	$1.35	20d	1	1.16mi
6337 Chorus Dr Groveland, FL	3.0	2.0	1772	$2,250	$1.27	24d	1	1.41mi

HOA detail

• Monthly dues: $117 · $1,404/yr
• Likely covers: water

Listing history 16 events

1. 2026-06-18
   days on market $376,000 Active 90 DOM
2. 2026-06-17
   days on market $376,000 Active 89 DOM
3. 2026-06-16
   days on market $376,000 Active 88 DOM
4. 2026-06-15
   days on market $376,000 Active 87 DOM
5. 2026-06-13
   days on market $376,000 Active 85 DOM
6. 2026-06-09
   days on market $376,000 Active 81 DOM
7. 2026-06-08
   days on market $376,000 Active 80 DOM
8. 2026-06-07
   days on market $376,000 Active 79 DOM
9. 2026-06-04
   days on market $376,000 Active 76 DOM
10. 2026-06-03
    days on market $376,000 Active 75 DOM
11. 2026-06-02
    pricedays on market $376,000 Active 74 DOM
12. 2026-06-01
    days on market $421,239 Active 73 DOM
13. 2026-05-31
    days on market $421,239 Active 72 DOM
14. 2026-03-31
    status Pending
15. 2026-01-22
    listed $373,239 Active
16. 2025-04-07
    soldstatus $4,281,319

ⓘ 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: $3,044 · $254/mo
• Projected year-2 tax: $3,121 · $260/mo
• Expected delta: +$77/yr (+$6/mo · 2.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $31,570
• − Mortgage interest: −$21,062
• − Property taxes: −$3,044
• − Insurance: −$1,880
• − Repairs & maintenance: −$2,526
• − Management: −$2,526
• − HOA: −$1,404
• − Depreciation: −$10,938
• Taxable loss: −$11,810
• Est. tax savings @ 24.0%: +$2,834
• After-tax cash flow: $-2,215/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 — Mascotte

• Score: 71/100
• State rank: #405
• US rank: #7156

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mascotte, FL
• County: Lake County · 364,602 people
• City population: 33,565
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 28,001
• Household income: $90,545
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 216.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 52% Hispanic / Latino 25% Two or more races 17% Black 15% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 15% Cuban 2%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 1%
• Foreign-born: 13% · Canada, Guatemala
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -77.23%
• Current HPI: 265.3457
• Rent YoY: ▲ 1.67%
• 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

-91.3% since first listed

3 events — show timeline

• 2026-03-31 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-22 Listed $373,239 Stellar MLS as Distributed by MLS Grid
• 2025-04-07 Sold (Public Records) $4,281,319 Public Records