732 Royal Palm Ave · Lady Lake, FL 32159

$219,900

3 bd · 2.0 ba · 1,100 sqft · Manufactured public records · 52 Days on market

Built 1984 5,400 sqft lot $204/mo HOA · 10% of rent

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Why this score? — see what drove the D 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 +12.8/30.0
• ARV discount +7.5/15.0
• 1% rule +4.5/10.0
• Schools +4.2/10.0
• DSCR +3.8/10.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

TURNKEY • 3 BEDROOMS • NO BOND • GREAT LOCATION This 3-bedroom, turnkey home with NO BOND delivers the perfect mix of value, comfort, and convenience in The Villages—ready for immediate enjoyment. Ideally located just a short golf cart ride to Spanish Springs Town Square, Orange Blossom Hills Golf & Country Club, and UF Health The Villages Hospital, plus shopping, dining, and everyday essentials. Inside, you’ll find a freshly remodeled and painted living/dining area with durable laminate flooring and an open, inviting feel. The kitchen features NEW appliances and a pantry, offering both style and function. Step outside and enjoy a spacious deck and oversi

Key facts

• 5,400 sq ft lot
• 2 parking spots
• Built 1984

Property features AI

Finance

• Other: Total acreage: less than 1/4 acre; Lot size approximately 0.12 acres; Living area reported as 1,100 (public records); building area reported as 1,500; Floor number: 1; Unit is on one level; Home warranty: No
• Financial info: Lease restrictions apply; Furnished
• HOA & community: Community has street lights; Senior community; Pets allowed with breed restrictions; CDD present; Association fee requirement: None; Total monthly community fees reported

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available and connected; High-speed internet / broadband available; Phone available; Fire hydrant nearby; Underground utilities
• Home design: Manufactured double-wide home; One story; Faces northwest; Completed condition; Located in The Villages community
• Construction: Vinyl siding; Shingle roof; Block foundation; Built by The Villages
• Exterior features: Deck; Front porch; Exterior lighting; Sliding doors; Irrigation equipment; Asphalt road access

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Solid surface counters
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Living room / dining room combo; Open floorplan; Solid surface counters; Vaulted ceilings
• Laundry & utility: Laundry room; Outside laundry access; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $220k.

Deal economics

• At list price, monthly cash flow is $-21 ($-247/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (5.0% below list).
• Recommended offer: $209k (5.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.1% in Lady Lake — 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 69/100 on livability (#457 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety 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: The Villages Elementary of Lady Lake School (math 63% / reading 61%, grade B, #608 of 2,144 statewide, top 29%, 761 students, 61% FRL); Carver Middle School (math 41% / reading 41%, grade F, #353 of 571 statewide, top 63%, 837 students, 65% FRL); Leesburg High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,641 students, 58% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 586 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 43% of the median local income ($59k/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 52 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $126k; list at $220k implies a 75% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $208,976 (5.0% 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 52 days. Have you received any prior offers? Is the seller open to a 5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.95% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.40%
• DSCR: 0.98
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $143,000
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
717 Truman Ave	0.07mi	2/2.0 (-1)	1,152 (+5%)	10mo	$150,000	$130	76
524 Bonita Dr	0.32mi	2/2.0 (-1)	1,144 (+4%)	3mo	$176,000	$154	71
713 Sharon Dr	0.19mi	2/2.0 (-1)	1,008 (-8%)	5mo	$197,000	$195	68
1005 Matthew Ave	0.36mi	2/2.0 (-1)	1,144 (+4%)	12mo	$165,000	$144	61
1012 Parker Pl	0.65mi	2/2.0 (-1)	1,144 (+4%)	10mo	$130,000	$114	50
1004 Ann Ave	0.44mi	2/2.0 (-1)	1,248 (+14%)	6mo	$80,000	$64	47
813 Saint Andrews Blvd	0.69mi	2/2.0 (-1)	1,191 (+8%)	6mo	$152,000	$128	44

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 · 4.03% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.44×
• Total profit: $-34,630
• Equity at exit: $32,788

10-year hold

• IRR: -5.3%
• Equity multiple: 0.64×
• Total profit: $-22,167
• Equity at exit: $19,013

Cash invested: $61,572 (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 32159

• Home prices YoY: -16.0%
• Rents YoY: 4.0%
• Active inventory: 586
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,090 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$223 /mo · $2,672/yr
• Insurance: −$92
• HOA: −$204
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $-21

Break-even live

Break-even rent $2,116

Max offer price $216,267

Occupancy floor 96%

Sensitivity live

Price	-10% $104	-5% $42	+0% $-21	+5% $-83	+10% $-145
Rent	-10% $-186	-5% $-103	+0% $-21	+5% $62	+10% $145
Rate	-1.0pp $90	-0.5pp $35	base $-21	+0.5pp $-78	+1.0pp $-136

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1214 Dustin Dr Lady Lake, FL	2.0	2.0	1040	$1,400	$1.35	25d	1	0.15mi
1222 Palmetto Dr Lady Lake, FL	2.0	2.0	1248	$1,700	$1.36	25d	1	0.45mi
739 Heathrow Ave Lady Lake, FL	2.0	2.0	1040	$2,250	$2.16	4d	1	0.48mi
1540 Hillcrest Dr Lady Lake, FL	2.0	2.0	1200	$1,600	$1.33	25d	1	0.66mi
508 Tarrson Blvd Unit 1525263P Lady Lake, FL	2.0	2.0	1011	$1,262	$1.25	14d	1	0.66mi
932 Chula Ct Lady Lake, FL	2.0	2.0	1346	$3,000	$2.23	5d	1	0.79mi
943 Mendoza Blvd Lady Lake, FL	2.0	2.0	1268	$5,800	$4.57	25d	1	0.81mi
1430 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1377	$2,500	$1.82	25d	1	0.84mi
1715 Pebble Beach Ln Lady Lake, FL	2.0	2.0	1040	$3,500	$3.37	25d	1	0.86mi
715 Hudson Ln Lady Lake, FL	3.0	2.0	1392	$2,700	$1.94	25d	1	0.90mi
1532 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1092	$2,950	$2.70	25d	1	0.98mi
1304 Santa Rosa Ct Lady Lake, FL	2.0	2.0	1286	$4,500	$3.50	23d	1	1.02mi
909 Orchid St Lady Lake, FL	2.0	1.0	936	$1,600	$1.71	25d	1	1.05mi
716 Dominguez Dr Lady Lake, FL	2.0	2.0	1094	$2,450	$2.24	23d	1	1.14mi
1824 Marion County Rd Weirsdale, FL	2.0	2.0	1064	$1,500	$1.41	25d	1	1.16mi
628 Dominguez Dr Lady Lake, FL	2.0	2.0	1214	$2,245	$1.85	23d	1	1.20mi
1524 Martinez Dr Lady Lake, FL	2.0	2.0	1199	$2,095	$1.75	23d	1	1.29mi
13740 Lead LN The Villages, FL	1.0–3.0	1.0–2.0	1029	$2,150	$2.09	23d	38	1.35mi
13765 NE 136th Loop Lady Lake, FL	1.0–3.0	1.0–2.0	1078	$1,991	$1.85	23d	36	1.39mi
1330 La Jolla Cir The Villages, FL	2.0	2.0	1214	$3,000	$2.47	23d	1	1.40mi
323 Chula Vista Ave Lady Lake, FL	2.0	2.0	1486	$2,700	$1.82	25d	1	1.44mi
613 Enconto St Unit 1525268P The Villages, FL	2.0	2.0	1097	$1,788	$1.63	23d	1	1.44mi

HOA detail

• Monthly dues: $204 · $2,448/yr

Listing history 21 events

1. 2026-06-21
   days on market $219,900 Active 52 DOM
2. 2026-06-18
   days on market $219,900 Active 49 DOM
3. 2026-06-17
   days on market $219,900 Active 48 DOM
4. 2026-06-16
   days on market $219,900 Active 47 DOM
5. 2026-06-15
   days on market $219,900 Active 46 DOM
6. 2026-06-13
   days on market $219,900 Active 44 DOM
7. 2026-06-09
   days on market $219,900 Active 40 DOM
8. 2026-06-08
   days on market $219,900 Active 39 DOM
9. 2026-06-07
   days on market $219,900 Active 38 DOM
10. 2026-06-04
    days on market $219,900 Active 35 DOM
11. 2026-06-03
    days on market $219,900 Active 34 DOM
12. 2026-06-02
    days on market $219,900 Active 33 DOM
13. 2026-06-01
    days on market $219,900 Active 32 DOM
14. 2026-05-31
    days on market $219,900 Active 31 DOM
15. 2026-04-30
    listed $219,900 Active
16. 2025-10-24
    listed $2,100
17. 2019-10-31
    soldstatus $126,000
18. 2015-11-19
    soldstatus $115,000
19. 2008-11-25
    soldstatus $97,700
20. 1998-07-21
    soldstatus $63,000
21. 1995-11-28
    soldstatus $55,800

ⓘ 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: $2,672 · $223/mo
• Projected year-2 tax: $2,672 · $223/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,077
• − Mortgage interest: −$12,318
• − Property taxes: −$2,672
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,006
• − Management: −$2,006
• − HOA: −$2,448
• − Depreciation: −$6,397
• Taxable loss: −$3,870
• Est. tax savings @ 24.0%: +$929
• After-tax cash flow: $682/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 — Lady Lake

• Score: 69/100
• State rank: #457
• US rank: #8302

Category grades

Amenities F Commute F Cost of living A+ Crime C+ 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 · 364,602 people
• City population: 32,107
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 32,107
• Household income: $58,518
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 1047.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 6% Two or more races 5% Black 4% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1% 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: ▼ -45.24%
• Current HPI: 237.6208
• Rent YoY: ▲ 4.03%
• 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

+294.1% since first listed

7 events — show timeline

• 2026-04-30 Listed $219,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-24 Listed for Rent $2,100 STELLARMLS
• 2019-10-31 Sold (Public Records) $126,000 Public Records
• 2015-11-19 Sold (Public Records) $115,000 Public Records
• 2008-11-25 Sold (Public Records) $97,700 Public Records
• 1998-07-21 Sold (Public Records) $63,000 Public Records
• 1995-11-28 Sold (Public Records) $55,800 Public Records

Property tax history

+14.1%/yr

Latest (2025): $2,672 · +10.0% YoY. Source: county tax records.