1234 Dustin Dr · Lady Lake, FL 32159

$154,900

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 127 Days on market

Built 1980 6,120 sqft lot Est $166k · 7% under $204/mo HOA · 11% of rent

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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).

• Cash flow +21.3/30.0
• ARV discount +10.5/15.0
• 1% rule +7.5/10.0
• DSCR +6.8/10.0
• Schools +4.2/10.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TURNKEY! EVERYTHING STAYS INCLUDING GOLF CART & WATER VIEW! COMPLETELY REMODELED! LARGE, 1392 SQ FT HOME! WALL OF WINDOWS OVERLOOKING WATER! 1 BLOCK FROM GOLF COURSE & RECREATION CENTER; WALK TO POOL!That's correct; great view, everything included and completely remodeled; the only thing missing is you! Enter through the sturdy storm door to the gorgeous, tastefully decorated, 24' Florida Room with the wall of windows overlooking Silverlake pond; just a perfect space for relaxing with a book, your newspaper & beverage of choice. Through the French doors to the spacious living room with laminate flooring and more tasteful furnishings and decor; the dining area also has plenty of room, a mirrored wall hutch & designer chandelier. The kitchen has been remodeled throughout with newer stainless appliances, upgraded counters w/ tile backsplash, tiled floor and a convenient breakfast bar w/ overhead lighting & plentiful cabinetry including pantry. The Master suite in this model fills the entire, 24' rear section of the home; spacious enough for a desk area, sitting room, king ensemble & his/hers separate closets. There's a convenient guest bedroom and bath as well; both bedrooms sport brand new carpeting. Now to the exterior where a breezeway at the rear of the carport leads to the golf cart storage area & workshop; plenty of storage and room for your hobby. TURNKEY INCLUDING GOLF CART! WATER VIEW! READY FOR YOU!

Key facts

• Access to pools
• Access to amenities
• New hw tank

Tags

• PRIVATE SCREENED LANAI
• SUN ROOM
• ACCESS TO POOLS
• ACCESS TO CLUBS
• ACCESS TO AMENITIES
• NEW HW TANK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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.
• Market conditions: Rents rising fast (+4.0%/yr); 576 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 40% 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 $1k of loan paydown is wiped out by about $5k 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 127 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $23k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $155k implies a 128% 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 $136,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% 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 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. 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: 1.25% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.31%
• DSCR: 1.28
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $165,888
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
717 Truman Ave	0.06mi	2/2.0	1,152 (0%)	10mo	$150,000	$130	89
524 Bonita Dr	0.34mi	2/2.0	1,144 (-1%)	3mo	$176,000	$154	80
1005 Matthew Ave	0.42mi	2/2.0	1,144 (-1%)	12mo	$165,000	$144	69
713 Sharon Dr	0.25mi	2/2.0	1,008 (-12%)	5mo	$197,000	$195	63
615 Tracy Dr	0.44mi	2/2.0	1,270 (+10%)	3mo	$197,500	$156	60
813 Saint Andrews Blvd	0.62mi	2/2.0	1,191 (+3%)	6mo	$152,000	$128	60
1012 Parker Pl	0.68mi	2/2.0	1,144 (-1%)	9mo	$130,000	$114	59
1004 Ann Ave	0.49mi	2/2.0	1,248 (+8%)	6mo	$80,000	$64	58

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-8,361
• Equity at exit: $23,096

10-year hold

• IRR: 6.0%
• Equity multiple: 1.48×
• Total profit: $20,654
• Equity at exit: $13,393

Cash invested: $43,372 (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: 576
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,941 high
• Mortgage (P&I): −$812
• Tax from tax record: −$224 /mo · $2,688/yr
• Insurance: −$65
• HOA: −$204
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $228

Break-even live

Break-even rent $1,652

Max offer price $154,900

Occupancy floor 83%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 21 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	24d	1	0.11mi
739 Heathrow Ave Lady Lake, FL	2.0	2.0	1040	$2,250	$2.16	2d	1	0.41mi
1222 Palmetto Dr Lady Lake, FL	2.0	2.0	1248	$1,700	$1.36	24d	1	0.45mi
1540 Hillcrest Dr Lady Lake, FL	2.0	2.0	1200	$1,600	$1.33	24d	1	0.59mi
508 Tarrson Blvd Unit 1525263P Lady Lake, FL	2.0	2.0	1011	$1,262	$1.25	12d	1	0.70mi
1715 Pebble Beach Ln Lady Lake, FL	2.0	2.0	1040	$3,500	$3.37	24d	1	0.79mi
1430 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1377	$2,500	$1.82	24d	1	0.80mi
943 Mendoza Blvd Lady Lake, FL	2.0	2.0	1268	$5,800	$4.57	24d	1	0.84mi
932 Chula Ct Lady Lake, FL	2.0	2.0	1346	$3,000	$2.23	3d	1	0.85mi
1532 W Schwartz Blvd Lady Lake, FL	2.0	2.0	1092	$2,950	$2.70	24d	1	0.94mi
715 Hudson Ln Lady Lake, FL	3.0	2.0	1392	$2,700	$1.94	24d	1	0.96mi
909 Orchid St Lady Lake, FL	2.0	1.0	936	$1,600	$1.71	24d	1	0.99mi
1304 Santa Rosa Ct Lady Lake, FL	2.0	2.0	1286	$4,500	$3.50	21d	1	1.05mi
1824 Marion County Rd Weirsdale, FL	2.0	2.0	1064	$1,500	$1.41	24d	1	1.12mi
716 Dominguez Dr Lady Lake, FL	2.0	2.0	1094	$2,450	$2.24	21d	1	1.18mi
628 Dominguez Dr Lady Lake, FL	2.0	2.0	1214	$2,245	$1.85	21d	1	1.25mi
13740 Lead LN The Villages, FL	1.0–3.0	1.0–2.0	1029	$1,720	$1.67	21d	38	1.31mi
1524 Martinez Dr Lady Lake, FL	2.0	2.0	1199	$2,095	$1.75	21d	1	1.31mi
13765 NE 136th Loop Lady Lake, FL	1.0–3.0	1.0–2.0	1078	$1,639	$1.52	21d	36	1.34mi
1330 La Jolla Cir The Villages, FL	2.0	2.0	1214	$3,000	$2.47	21d	1	1.45mi
613 Enconto St Unit 1525268P The Villages, FL	2.0	2.0	1097	$1,788	$1.63	21d	1	1.48mi

HOA detail

• Monthly dues: $204 · $2,448/yr
• Likely covers: waterpool

Listing history 16 events

1. 2026-04-25
   status Pending
2. 2026-04-08
   price $154,900
3. 2026-03-21
   price $159,900
4. 2026-03-18
   status Active
5. 2026-03-14
   status Pending
6. 2026-03-03
   price $169,900
7. 2026-01-12
   price $174,900
8. 2025-12-15
   listed $177,900 Active
9. 2014-08-12
   soldstatus $68,000
10. 2013-03-04
    soldstatus $108,000
11. 2013-02-25
    soldstatus $108,000 1471-char remark

    Show marketing remark (1471 chars)

    TURNKEY! EVERYTHING STAYS INCLUDING GOLF CART & WATER VIEW! COMPLETELY REMODELED! LARGE, 1392 SQ FT HOME! WALL OF WINDOWS OVERLOOKING WATER! 1 BLOCK FROM GOLF COURSE & RECREATION CENTER; WALK TO POOL!That's correct; great view, everything included and completely remodeled; the only thing missing is you! Enter through the sturdy storm door to the gorgeous, tastefully decorated, 24' Florida Room with the wall of windows overlooking Silverlake pond; just a perfect space for relaxing with a book, your newspaper & beverage of choice. Through the French doors to the spacious living room with laminate flooring and more tasteful furnishings and decor; the dining area also has plenty of room, a mirrored wall hutch & designer chandelier. The kitchen has been remodeled throughout with newer stainless appliances, upgraded counters w/ tile backsplash, tiled floor and a convenient breakfast bar w/ overhead lighting & plentiful cabinetry including pantry. The Master suite in this model fills the entire, 24' rear section of the home; spacious enough for a desk area, sitting room, king ensemble & his/hers separate closets. There's a convenient guest bedroom and bath as well; both bedrooms sport brand new carpeting. Now to the exterior where a breezeway at the rear of the carport leads to the golf cart storage area & workshop; plenty of storage and room for your hobby. TURNKEY INCLUDING GOLF CART! WATER VIEW! READY FOR YOU!

12. 2013-02-05
    listed $114,900 1471-char remark

    Show marketing remark (1471 chars)

    TURNKEY! EVERYTHING STAYS INCLUDING GOLF CART & WATER VIEW! COMPLETELY REMODELED! LARGE, 1392 SQ FT HOME! WALL OF WINDOWS OVERLOOKING WATER! 1 BLOCK FROM GOLF COURSE & RECREATION CENTER; WALK TO POOL!That's correct; great view, everything included and completely remodeled; the only thing missing is you! Enter through the sturdy storm door to the gorgeous, tastefully decorated, 24' Florida Room with the wall of windows overlooking Silverlake pond; just a perfect space for relaxing with a book, your newspaper & beverage of choice. Through the French doors to the spacious living room with laminate flooring and more tasteful furnishings and decor; the dining area also has plenty of room, a mirrored wall hutch & designer chandelier. The kitchen has been remodeled throughout with newer stainless appliances, upgraded counters w/ tile backsplash, tiled floor and a convenient breakfast bar w/ overhead lighting & plentiful cabinetry including pantry. The Master suite in this model fills the entire, 24' rear section of the home; spacious enough for a desk area, sitting room, king ensemble & his/hers separate closets. There's a convenient guest bedroom and bath as well; both bedrooms sport brand new carpeting. Now to the exterior where a breezeway at the rear of the carport leads to the golf cart storage area & workshop; plenty of storage and room for your hobby. TURNKEY INCLUDING GOLF CART! WATER VIEW! READY FOR YOU!

13. 2009-03-24
    soldstatus $75,000
14. 1994-05-09
    soldstatus $51,000
15. 1992-04-01
    soldstatus $53,900
16. 1986-10-01
    soldstatus $33,000

ⓘ 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: $2,688 · $224/mo
• Projected year-2 tax: $2,688 · $224/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: $23,287
• − Mortgage interest: −$8,677
• − Property taxes: −$2,688
• − Insurance: −$774
• − Repairs & maintenance: −$1,863
• − Management: −$1,863
• − HOA: −$2,448
• − Depreciation: −$4,506
• Taxable income: $468
• Est. tax owed @ 24.0%: −$112
• After-tax cash flow: $2,626/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

+369.4% since first listed

16 events — show timeline

• 2026-04-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $154,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-21 Price Changed $159,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-18 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-03 Price Changed $169,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-12 Price Changed $174,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-15 Listed $177,900 Stellar MLS as Distributed by MLS Grid
• 2014-08-12 Sold (Public Records) $68,000 Public Records
• 2013-03-04 Sold (Public Records) $108,000 Public Records
• 2013-02-25 Sold (MLS) $108,000 Stellar MLS as Distributed by MLS Grid
• 2013-02-05 Listed $114,900 Stellar MLS as Distributed by MLS Grid
• 2009-03-24 Sold (Public Records) $75,000 Public Records
• 1994-05-09 Sold (Public Records) $51,000 Public Records
• 1992-04-01 Sold (Public Records) $53,900 Public Records
• 1986-10-01 Sold (Public Records) $33,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $2,688 · +10.5% YoY. Source: county tax records.