13117 Lemon Ave · Eustis, FL 32735

$89,900

2 bd · 2.0 ba · 1,120 sqft · SingleFamily · 99 Days on market

Built 2017 4,000 sqft lot ↓ 5% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Appreciation +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This 55+ Mobile Home community is located on Lake Eustis with its own lakefront with boat ramp and marina with area spots for parking your pontoon or watercraft. Hop in your boat and head down the Dora canal for scenic beauty. This community sits on the Harris chain of lakes, with many areas to explore or restaurants to pull up to. There are 5 lakes on the Harris Chain of Lakes that you can go to from our community. You'll love this open house living area with vaulted ceilings throughout. This 2017 Mobile Home sits on a spacious landscaped corner lot. A covered front porch (13'4" x 8') opens to the front door. A newer enclosed carport made sturdily to protect your auto, boat, golf cart

Key facts

• Lakefront
• Covered front porch
• Enclosed carport

Tags

• LAKEFRONT
• BOAT RAMP
• MARINA
• HARRIS CHAIN OF LAKES
• COVERED FRONT PORCH
• ENCLOSED CARPORT

Property features AI

Exterior

• Home design: Single-family house; Approximately 1,120 square feet of living area
• Exterior features: Lot of approximately 4,000 square feet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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-, schools D+, amenities 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: 77 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $622 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.63% ✓
• Cap rate: 13.47%
• Cash-on-cash: 25.64%
• DSCR: 2.14
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $247,520
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36315 Stratford Ct	0.30mi	3/2.0 (+1)	1,131 (+1%)	1mo	$250,000	$221	78
36424 S Fish Camp Rd	0.69mi	3/1.5 (+1)	1,050 (-6%)	3mo	$258,000	$246	48
12584 Wedgefield Dr	0.59mi	3/2.0 (+1)	1,264 (+13%)	1mo	$252,500	$200	46
36445 Doral Dr	0.50mi	3/2.0 (+1)	1,264 (+13%)	9mo	$256,000	$203	43
13814 Adams St	0.75mi	2/1.5	1,053 (-6%)	22mo	$239,900	$228	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 1.78×
• Total profit: $19,713
• Equity at exit: $13,404

10-year hold

• IRR: 27.6%
• Equity multiple: 3.44×
• Total profit: $61,370
• Equity at exit: $7,773

Cash invested: $25,172 (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 32735

• Home prices YoY: -1.5%
• Active inventory: 77
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,467 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $538

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 58%

Sensitivity live

Price	-10% $600	-5% $569	+0% $538	+5% $507	+10% $476
Rent	-10% $422	-5% $480	+0% $538	+5% $596	+10% $654
Rate	-1.0pp $583	-0.5pp $561	base $538	+0.5pp $515	+1.0pp $491

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13124 Lemon Ave Grand Island, FL	2.0	2.0	1216	$1,399	$1.15	13d	1	0.04mi
36126 Plum Ave Grand Island, FL	3.0	2.0	1393	$1,599	$1.15	15d	1	0.08mi
36116 Plum Ave Grand Island, FL	2.0	2.0	1372	$1,299	$0.95	13d	1	0.09mi
13122 Grape Ave Grand Island, FL	3.0	2.0	1123	$1,299	$1.16	17d	1	0.15mi
13228 Grand Terrace Dr Grand Island, FL	3.0	1.0	1296	$1,900	$1.47	15d	1	0.25mi
35901 Joewood Ave Leesburg, FL	3.0	2.0	1483	$2,100	$1.42	19d	1	1.12mi
35689 Rose Moss Ave Leesburg, FL	3.0	2.0	1270	$1,800	$1.42	6d	1	1.27mi
35229 Orange Grove Ln Leesburg, FL	2.0	1.0	1194	$1,400	$1.17	25d	1	1.46mi

Listing history 6 events

1. 2026-06-03
   days on market $89,900 Active 99 DOM
2. 2026-06-02
   days on market $89,900 Active 98 DOM
3. 2026-06-02
   days on market $89,900 Active 97 DOM
4. 2026-05-31
   days on market $89,900 Active 96 DOM
5. 2026-03-05
   price $89,900
6. 2026-02-24
   listed $94,900 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 21 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: $17,608
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − Depreciation: −$2,615
• Taxable income: $5,341
• Est. tax owed @ 24.0%: −$1,282
• After-tax cash flow: $5,173/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

• City population: 24,715
• Population (ZIP): 5,346

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 (78%)
• Race & ethnicity: White 78% Two or more races 8% Black 7% Asian 4% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Lithuanian 2% Danish 1%
• Foreign-born: 7% · Canada
• Languages at home: 96% English-only · Other Indo-European 3% Spanish 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: ▼ -4.00%
• Current HPI: 267.8376
• Rent YoY: —
• Metro: —
• 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

-5.3% since first listed

2 events — show timeline

• 2026-03-05 Price Changed $89,900 ForSaleByOwner.com
• 2026-02-24 Listed $94,900 ForSaleByOwner.com