2681 Washington Ave #18 · Eustis, FL 32726

$214,900

3 bd · 2.0 ba · 1,170 sqft · SingleFamily public records · 64 Days on market

Built 1984 3,000 sqft lot Est $271k · 21% under $150/mo HOA · 8% of rent

---

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).

• ARV discount +15.0/15.0
• Cash flow +14.4/30.0
• DSCR +4.4/10.0
• Schools +4.2/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

New Price ~ Move-In Ready End Unit in a Quiet Eustis Community! Welcome to 2681 Washington Ave, Unit #18. This home is a 2-bedroom, 2-bathroom end-unit home with an additional room that can be used as an office or storage. Located in a peaceful community of just 26 homes, this property is ideal for those seeking comfort, convenience and low maintenance living. Inside you’ll find fresh interior paint and new carpet in the two bedrooms, creating a bright and inviting feel. The spacious living area is centered around a cozy brick fireplace, adding warmth and character to the home with laminate flooring. The kitchen features brand-new appliances and flows easily into the main living areas

Key facts

• $150 HOA
• Garage
• Built 1984

Property features AI

Finance

• Financial info: Lease restrictions apply
• HOA & community: Monthly HOA $150 (covers common area taxes and other items); Association: Sentry Management/Lionel Inau; Deed restrictions; Community mailbox; Pets allowed

Exterior

• Parking: Attached 1-car garage (24 x 15) with garage door opener; Driveway
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Broadband/high-speed internet available
• Home design: Attached townhouse; One story; Faces West
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as residential townhouse
• Exterior features: Rear porch; Cleared, landscaped lot with mature landscaping and trees; Corner lot within city limits; Paved roads (asphalt)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Thermostat; Wood-burning fireplace; Den/Library/Office; Florida room
• Laundry & utility: Washer hookup; Electric dryer hookup (in garage)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $42 ($509/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (13.1% below list).
• Recommended offer: $187k (13.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.5% in Eustis — 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 73/100 on livability (#309 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, 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: Eustis Elementary School (math 52% / reading 47%, grade D, #1,088 of 2,144 statewide, top 53%, 358 students, 65% FRL); Eustis High School (math 33% / reading 40%, grade F, #351 of 667 statewide, top 54%, 1,368 students, 45% FRL).
• Market conditions: Rents rising (+3.2%/yr); 305 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 35% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $6k 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 64 days — a 6% lower offer ($202k) 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 $86k; list at $215k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,780 (13.1% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 13% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.87% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.85%
• DSCR: 1.04
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $271,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2703 E Washington Ave	0.11mi	3/2.0	1,186 (+1%)	10mo	$299,900	$253	84
411 Cherry Tree St	0.09mi	3/2.0	1,308 (+12%)	4mo	$305,000	$233	73
2686 Winchester Cir	0.13mi	3/2.0	1,111 (-5%)	21mo	$306,000	$275	68
2725 Lakewood Ln	0.24mi	3/2.0	1,096 (-6%)	14mo	$280,000	$255	67
300 Cricket Hollow Ln	0.50mi	2/2.0 (-1)	1,106 (-6%)	5mo	$240,000	$217	58
2510 Carmel Ln	0.17mi	3/2.0	1,312 (+12%)	20mo	$297,000	$226	55
202 Bryan St	0.57mi	2/2.0 (-1)	1,079 (-8%)	2mo	$250,000	$232	54
200 Bryan St	0.57mi	3/2.0	1,320 (+13%)	0mo	$295,000	$223	52
1922 Cornelia Dr	0.60mi	3/2.0	1,324 (+13%)	2mo	$246,000	$186	48
410 Ohio Blvd	0.53mi	3/1.0	1,236 (+6%)	19mo	$260,000	$210	46
302 Lily Pad Ln	0.51mi	3/2.0	1,040 (-11%)	21mo	$270,000	$260	40
505 Cricket Hollow Ln	0.66mi	2/2.0 (-1)	1,086 (-7%)	21mo	$240,000	$221	35

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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.47×
• Total profit: $-31,750
• Equity at exit: $32,042

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-22,634
• Equity at exit: $18,581

Cash invested: $60,172 (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 32726

• Home prices YoY: -21.3%
• Rents YoY: 3.2%
• Active inventory: 305
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,868 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$67 /mo · $800/yr
• Insurance: −$90
• HOA: −$150
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $42

Break-even live

Break-even rent $1,814

Max offer price $214,900

Occupancy floor 93%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
710 Harvard Ct Eustis, FL	3.0	2.0	1260	$1,700	$1.35	3d	1	0.27mi
375 Willow Song Ct Eustis, FL	3.0	2.0	1370	$1,950	$1.42	4d	1	0.54mi
374 Willow Song Ct Eustis, FL	3.0	2.0	1250	$1,750	$1.40	4d	1	0.54mi
374 Willow Song Ct Eustis, FL	3.0	2.0	1250	$1,750	$1.40	21d	1	0.54mi
617 Ohio Blvd Eustis, FL	2.0	1.0	840	$1,400	$1.67	2d	1	0.60mi
910 Kentucky Blvd Eustis, FL	3.0	2.0	1327	$1,910	$1.44	12d	1	0.67mi
11 Oak Ct Eustis, FL	2.0–3.0	2.0–3.0	1492	$2,375	$1.59	3d	10	0.78mi
1701 E Orange Ave Eustis, FL	3.0	2.5–3.0	1439	$1,645	$1.14	23d	2	0.83mi
1701 E Orange Ave Eustis, FL	3.0	3.0	1439	$1,645	$1.14	14d	1	0.83mi
2225 Grant Ave Eustis, FL	3.0	2.0	1050	$1,900	$1.81	23d	1	1.14mi
925 E McDonald Ave Eustis, FL	2.0	2.0	867	$1,550	$1.79	23d	1	1.31mi
612 Kensington St Eustis, FL	3.0	1.5	1400	$1,900	$1.36	23d	1	1.33mi

HOA detail

• Monthly dues: $150 · $1,800/yr

Listing history 33 events

1. 2026-06-18
   days on market $214,900 Active 64 DOM
2. 2026-06-17
   days on market $214,900 Active 63 DOM
3. 2026-06-16
   days on market $214,900 Active 62 DOM
4. 2026-06-15
   days on market $214,900 Active 61 DOM
5. 2026-06-13
   days on market $214,900 Active 59 DOM
6. 2026-06-09
   days on market $214,900 Active 55 DOM
7. 2026-06-08
   days on market $214,900 Active 54 DOM
8. 2026-06-07
   pricedays on market $214,900 Active 53 DOM
9. 2026-06-04
   days on market $225,000 Active 50 DOM
10. 2026-06-03
    days on market $225,000 Active 49 DOM
11. 2026-06-02
    days on market $225,000 Active 48 DOM
12. 2026-06-01
    days on market $225,000 Active 47 DOM
13. 2026-05-31
    days on market $225,000 Active 46 DOM
14. 2026-04-15
    listed $225,000 Active
15. 2025-06-27
    historical
16. 2025-05-22
    status Active
17. 2025-05-13
    status Pending
18. 2025-04-17
    price $205,000
19. 2025-03-21
    status Active
20. 2025-03-12
    status Pending
21. 2025-03-07
    price $209,000
22. 2025-02-13
    price $214,900
23. 2025-01-20
    price $217,000
24. 2024-10-23
    price $219,000
25. 2024-10-02
    price $222,000
26. 2024-09-14
    price $225,000
27. 2024-09-05
    price $229,000
28. 2024-08-26
    listed $234,000 Active
29. 2024-05-13
    historical
30. 2024-04-22
    listed $239,900 Active
31. 2003-01-09
    soldstatus $86,000
32. 1993-12-15
    soldstatus $61,000
33. 1986-10-01
    soldstatus $63,000

ⓘ 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: $800 · $67/mo
• Projected year-2 tax: $1,784 · $149/mo
• Expected delta: +$984/yr (+$82/mo · 123.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $22,414
• − Mortgage interest: −$12,038
• − Property taxes: −$800
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − HOA: −$1,800
• − Depreciation: −$6,252
• Taxable loss: −$3,136
• Est. tax savings @ 24.0%: +$753
• After-tax cash flow: $1,261/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 — Eustis

• Score: 73/100
• State rank: #309
• US rank: #5286

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eustis, FL
• County: Lake County · 364,602 people
• City population: 24,715
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 24,715
• Household income: $63,152
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 584.0

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 0.59)
• Race & ethnicity: White 59% Black 19% Hispanic / Latino 17% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 4%
• Common ancestry: Hispanic 2% Romanian 2% Lithuanian 2%
• Foreign-born: 14% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 10% French/Haitian/Cajun 3% 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: ▼ -88.12%
• Current HPI: 325.4692
• Rent YoY: ▲ 3.20%
• 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

+257.1% since first listed

20 events — show timeline

• 2026-04-15 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-05-22 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-05-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-04-17 Price Changed $205,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-21 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-03-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-03-07 Price Changed $209,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-13 Price Changed $214,900 Stellar MLS as Distributed by MLS Grid
• 2025-01-20 Price Changed $217,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-23 Price Changed $219,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-02 Price Changed $222,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-14 Price Changed $225,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-05 Price Changed $229,000 Stellar MLS as Distributed by MLS Grid
• 2024-08-26 Listed $234,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-04-22 Listed $239,900 Stellar MLS as Distributed by MLS Grid
• 2003-01-09 Sold (Public Records) $86,000 Public Records
• 1993-12-15 Sold (Public Records) $61,000 Public Records
• 1986-10-01 Sold (Public Records) $63,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $800 · +3.7% YoY. Source: county tax records.