3896 Picciola Rd #371 · Fruitland Park, FL 34731

$87,500

2 bd · 1.0 ba · 880 sqft · SingleFamily · 103 Days on market

Built 1977 1,250 sqft lot Est $148k · 41% under $181/mo HOA · 12% of rent ↓ 2% since listing

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, Location, Location! The home not only sits on a corner lot overlooking the community and Lake Griffin, but it is only steps away from the clubhouse and the pool. Watch the beautiful sunrises over the lake from your huge lanai, spend some time in the heated community pool, then venture over to the clubhouse for one of the many dinners the social clubs put on. This 2 bed, 1 bath home has been updated with vinyl flooring, fresh paint inside and out, a new Central Air unit, upgraded breaker box and more. Homes in this community do not last long, so do not hesitate!

Key facts

• Clubhouse
• Screened lanai
• View rocket launches

Tags

• CORNER LOT
• GREAT VIEW OF LAKE GRIFFIN
• VIEW ROCKET LAUNCHES
• SCREENED LANAI
• CLUBHOUSE
• POOL

Property features AI

Finance

• Other: Furnished; Directions: Leesburg north to Picciola Rd, turn right into Griffwood MHP, stay to the right, go to the clubhouse; park by the pool — home is across from the office.
• Financial info: Total annual fees $2,172; Lease restrictions apply
• HOA & community: Has HOA; monthly fee $181; HOA includes pool, grounds maintenance, management, recreational facilities, sewer and water; Association approval required; Senior community; Pets allowed (cats and dogs), max pet weight 35 lbs

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Cable connected; Electricity connected
• Home design: Manufactured single-wide home; One story; Faces east
• Construction: Metal siding; Membrane roof; Built on crawlspace
• Exterior features: Screened patio/porch; Corner lot; Landscaped; Paved; Lake view with access to chain of lakes; Private boat ramp and fishing pier available

Interior

• Kitchen: Range; Range hood; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Vinyl; Crawlspace foundation
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; High ceilings; Open floor plan; Window treatments; Range; Range hood; Refrigerator
• Laundry & utility: Common area laundry available; No in-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $80k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 4.0% in Fruitland Park — 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 70/100 on livability (#447 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety 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: 165 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $605 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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago 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 $73k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,625 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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 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 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: 1.66% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.71%
• DSCR: 1.79
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $147,840
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3896 Picciola Rd #523	0.01mi	2/1.5	936 (+6%)	17mo	$60,000	$64	73
3896 Picciola Rd #111	0.25mi	2/1.5	780 (-11%)	23mo	$88,000	$113	48
309 Areca St	0.75mi	3/2.0 (+1)	936 (+6%)	8mo	$157,000	$168	39
408 E Palm St	0.67mi	3/1.5 (+1)	1,008 (+14%)	24mo	$221,000	$219	18

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.3%
• Equity multiple: 1.37×
• Total profit: $8,980
• Equity at exit: $13,047

10-year hold

• IRR: 18.6%
• Equity multiple: 2.55×
• Total profit: $38,011
• Equity at exit: $7,565

Cash invested: $24,500 (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 34731

• Home prices YoY: -10.1%
• Active inventory: 165
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,452 high
• Mortgage (P&I): −$459
• Tax est. 1.5%: −$109 /mo · $1,312/yr
• Insurance: −$36
• HOA: −$181
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $362

Break-even live

Break-even rent $995

Max offer price $87,500

Occupancy floor 70%

Sensitivity live

Price	-10% $422	-5% $392	+0% $362	+5% $331	+10% $301
Rent	-10% $247	-5% $304	+0% $362	+5% $419	+10% $476
Rate	-1.0pp $406	-0.5pp $384	base $362	+0.5pp $339	+1.0pp $316

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1414 N Lake View Ave Leesburg, FL	4.0	1.0–3.0	1700	$1,440	$0.85	2d	3	0.37mi
2117 Citrus Blvd Unit 6 Leesburg, FL	2.0	1.0	800	$1,000	$1.25	2d	1	0.71mi
2511 Sennett Dr Leesburg, FL	2.0–4.0	2.0	1215	$1,508	$1.24	24d	1	0.83mi
2400 Silver Pointe Cir Leesburg, FL	1.0–2.0	1.0	837	$1,050	$1.25	24d	1	0.90mi
1 Herald Dr Leesburg, FL	2.0	1.0–1.5	970	$1,524	$1.57	5d	4	1.43mi
1223 Pamela St Leesburg, FL	2.0	1.0	894	$1,399	$1.56	24d	1	1.49mi

HOA detail

• Monthly dues: $181 · $2,172/yr
• Likely covers: pool

Listing history 28 events

1. 2026-06-18
   days on market $87,500 Active 103 DOM
2. 2026-06-17
   days on market $87,500 Active 102 DOM
3. 2026-06-16
   days on market $87,500 Active 101 DOM
4. 2026-06-15
   days on market $87,500 Active 100 DOM
5. 2026-06-13
   days on market $87,500 Active 98 DOM
6. 2026-06-09
   days on market $87,500 Active 94 DOM
7. 2026-06-08
   days on market $87,500 Active 93 DOM
8. 2026-06-07
   days on market $87,500 Active 92 DOM
9. 2026-06-04
   days on market $87,500 Active 89 DOM
10. 2026-06-03
    days on market $87,500 Active 88 DOM
11. 2026-06-02
    days on market $87,500 Active 87 DOM
12. 2026-06-01
    days on market $87,500 Active 86 DOM
13. 2026-05-31
    days on market $87,500 Active 85 DOM
14. 2026-05-01
    status Active
15. 2026-03-25
    status Pending
16. 2026-03-04
    price $87,500
17. 2026-01-29
    listed $89,000 Active
18. 2025-12-15
    status Pending
19. 2025-12-15
    historical
20. 2025-11-28
    price $89,000
21. 2025-11-08
    listed $90,000 Active
22. 2025-04-07
    soldstatus $73,000 Closed 577-char remark

    Show marketing remark (577 chars)

    Location, Location, Location! The home not only sits on a corner lot overlooking the community and Lake Griffin, but it is only steps away from the clubhouse and the pool. Watch the beautiful sunrises over the lake from your huge lanai, spend some time in the heated community pool, then venture over to the clubhouse for one of the many dinners the social clubs put on. This 2 bed, 1 bath home has been updated with vinyl flooring, fresh paint inside and out, a new Central Air unit, upgraded breaker box and more. Homes in this community do not last long, so do not hesitate!

23. 2025-01-10
    status Pending 577-char remark

    Show marketing remark (577 chars)

    Location, Location, Location! The home not only sits on a corner lot overlooking the community and Lake Griffin, but it is only steps away from the clubhouse and the pool. Watch the beautiful sunrises over the lake from your huge lanai, spend some time in the heated community pool, then venture over to the clubhouse for one of the many dinners the social clubs put on. This 2 bed, 1 bath home has been updated with vinyl flooring, fresh paint inside and out, a new Central Air unit, upgraded breaker box and more. Homes in this community do not last long, so do not hesitate!

24. 2024-12-18
    price $78,900 577-char remark

    Show marketing remark (577 chars)

    Location, Location, Location! The home not only sits on a corner lot overlooking the community and Lake Griffin, but it is only steps away from the clubhouse and the pool. Watch the beautiful sunrises over the lake from your huge lanai, spend some time in the heated community pool, then venture over to the clubhouse for one of the many dinners the social clubs put on. This 2 bed, 1 bath home has been updated with vinyl flooring, fresh paint inside and out, a new Central Air unit, upgraded breaker box and more. Homes in this community do not last long, so do not hesitate!

25. 2024-09-13
    status Active 577-char remark

    Show marketing remark (577 chars)

    Location, Location, Location! The home not only sits on a corner lot overlooking the community and Lake Griffin, but it is only steps away from the clubhouse and the pool. Watch the beautiful sunrises over the lake from your huge lanai, spend some time in the heated community pool, then venture over to the clubhouse for one of the many dinners the social clubs put on. This 2 bed, 1 bath home has been updated with vinyl flooring, fresh paint inside and out, a new Central Air unit, upgraded breaker box and more. Homes in this community do not last long, so do not hesitate!

26. 2024-09-10
    status Pending 577-char remark

    Show marketing remark (577 chars)

    Location, Location, Location! The home not only sits on a corner lot overlooking the community and Lake Griffin, but it is only steps away from the clubhouse and the pool. Watch the beautiful sunrises over the lake from your huge lanai, spend some time in the heated community pool, then venture over to the clubhouse for one of the many dinners the social clubs put on. This 2 bed, 1 bath home has been updated with vinyl flooring, fresh paint inside and out, a new Central Air unit, upgraded breaker box and more. Homes in this community do not last long, so do not hesitate!

27. 2024-08-12
    listed $89,000 Active 577-char remark

    Show marketing remark (577 chars)

    Location, Location, Location! The home not only sits on a corner lot overlooking the community and Lake Griffin, but it is only steps away from the clubhouse and the pool. Watch the beautiful sunrises over the lake from your huge lanai, spend some time in the heated community pool, then venture over to the clubhouse for one of the many dinners the social clubs put on. This 2 bed, 1 bath home has been updated with vinyl flooring, fresh paint inside and out, a new Central Air unit, upgraded breaker box and more. Homes in this community do not last long, so do not hesitate!

28. 2022-07-15
    price $895

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 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: $17,426
• − Mortgage interest: −$4,901
• − Property taxes: −$1,312
• − Insurance: −$438
• − Repairs & maintenance: −$1,394
• − Management: −$1,394
• − HOA: −$2,172
• − Depreciation: −$2,545
• Taxable income: $3,269
• Est. tax owed @ 24.0%: −$785
• After-tax cash flow: $3,554/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 — Fruitland Park

• Score: 70/100
• State rank: #447
• US rank: #8098

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 364,602 people
• City population: 12,196
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 12,196
• Household income: $66,300
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 269.0

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 (76%)
• Race & ethnicity: White 76% Black 11% Two or more races 11% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Serbian 2% Iranian 2%
• Foreign-born: 5% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 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: ▼ -35.91%
• Current HPI: 318.8206
• 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

-1.7% since first listed

15 events — show timeline

• 2026-05-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-04 Price Changed $87,500 Stellar MLS as Distributed by MLS Grid
• 2026-01-29 Listed $89,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-12-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-28 Price Changed $89,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-08 Listed $90,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-07 Sold (MLS) $73,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-12-18 Price Changed $78,900 Stellar MLS as Distributed by MLS Grid
• 2024-09-13 Relisted — Stellar MLS as Distributed by MLS Grid
• 2024-09-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-08-12 Listed $89,000 Stellar MLS as Distributed by MLS Grid
• 2022-07-15 Price Changed $895 RENT.