500 Newell Hill Rd Unit 108A · Leesburg, FL 34748

$48,000

3 bd · 2.0 ba · 1,413 sqft · Condo public records · 261 Days on market

Built 1980 $870/mo HOA · 52% 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 +20.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don’t miss this spacious, ground level, 3 Bedroom and 2 bath condo in the charming 55+ community of Chesterbrook. Conveniently located just minutes from downtown Leesburg where you can enjoy shopping and dining as well as all this area has to offer including the natural beauty of the Harris Chain of Lakes. As you enter this first floor unit there is a large living room and dining room combo with attractive laminate flooring. The master bedroom features three large closets with plenty of storage and a dual sink in the master bathroom. The two guest bedrooms are spacious and inviting. The enclosed porch is a great utility space with ceramic tile and a storage closet. Come and see this home and experience the beauty and peacefulness of Central Florida.

Key facts

• $870 HOA
• Community pool
• Built 1980

Property features AI

Finance

• Other: Condo land included; Unfurnished; Living area approximately 1,413 sq ft (building area total 1,651 sq ft)
• Financial info: Total monthly fees noted as $870 (includes HOA and other annual fees prorated); Total annual fees noted as $10,440; Lease restrictions apply
• HOA & community: Monthly association fee of $645; HOA includes structure and grounds maintenance, pool and recreational facilities; Association approval required; Buyer approval required; Deed restrictions; Sidewalks; Senior community; Cats and dogs allowed; Association name: Jennifer Cain Mosaic Services

Exterior

• Parking: Directions indicate ground-floor unit access (no specific parking details provided)
• Utilities: Public water; Public sewer; Public utilities
• Home design: Condominium; Residential property; One-level living; Faces west; Completed condition
• Construction: Stucco and frame construction; Other roof; Slab foundation; Built as part of a multi-story building (2 stories total)
• Exterior features: Sidewalk

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room and dining room combined; Seven total rooms
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $48k.

Deal economics

• At list price, monthly cash flow is $67 ($805/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Recommended offer: $42k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.5% in Leesburg — 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 62/100 on livability (#751 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime 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: Rents soft (-0.9%/yr); 783 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 ($58k/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 $332 of loan paydown is wiped out by about $1k 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 261 days — a 12% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 6y ago; this cycle's ask is 4264% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; HOA is 52% of rent.
• Climate carrying-cost: 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 $42,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 261 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.49% ✓
• Cap rate: 7.97%
• Cash-on-cash: 5.99%
• DSCR: 1.27
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.42×
• Total profit: $-7,829
• Equity at exit: $7,157

10-year hold

• IRR: —
• Equity multiple: -0.33×
• Total profit: $-17,901
• Equity at exit: $4,150

Cash invested: $13,440 (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 34748

• Home prices YoY: -25.3%
• Rents YoY: -0.9%
• Active inventory: 783
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,678 high
• Mortgage (P&I): −$252
• Tax from tax record: −$116 /mo · $1,398/yr
• Insurance: −$20
• HOA: −$870
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $67

Break-even live

Break-even rent $1,593

Max offer price $48,000

Occupancy floor 91%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
202 Fernwood St Leesburg, FL	2.0	2.0	1045	$1,650	$1.58	24d	1	0.14mi
1197 Bentley Rd Leesburg, FL	2.0	1.5	938	$1,379	$1.47	24d	1	0.21mi
1175 Bentley Rd Leesburg, FL	2.0–3.0	1.0–1.5	938	$1,459	$1.56	3d	3	0.23mi
1187 Bentley Rd Unit 1 Leesburg, FL	3.0	1.0	909	$1,459	$1.61	3d	1	0.25mi
348 Ashton Woods Ln Leesburg, FL	3.0	2.0	1431	$2,065	$1.44	2d	1	0.82mi
904 S Lake St Leesburg, FL	1.0–3.0	1.0–2.0	1140	$2,239	$1.96	3d	41	1.08mi
643 W Oak Terrace Dr Unit B1 Leesburg, FL	2.0	2.0	1089	$1,300	$1.19	24d	1	1.41mi
2618 Icabod Ct Leesburg, FL	3.0	2.0	1131	$1,475	$1.30	24d	1	1.42mi
2618 Icabod Ct Leesburg, FL	3.0	2.0	1131	$1,475	$1.30	5d	1	1.42mi
325 S 2nd St Unit 206 Leesburg, FL	2.0	2.0	1000	$1,700	$1.70	5d	1	1.43mi
2709 Savannah Dr Leesburg, FL	3.0	2.0	1604	$1,950	$1.22	18d	1	1.47mi

HOA detail condo

• Monthly dues: $870 · $10,440/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 49 events

1. 2026-06-13
   remarks 520-char remark
2. 2026-06-13
   statusdays on market $48,000 Pending 261 DOM
3. 2026-06-09
   days on market $48,000 Active 259 DOM
4. 2026-06-08
   days on market $48,000 Active 258 DOM
5. 2026-06-07
   days on market $48,000 Active 257 DOM
6. 2026-06-04
   days on market $48,000 Active 254 DOM
7. 2026-06-03
   days on market $48,000 Active 253 DOM
8. 2026-06-02
   days on market $48,000 Active 252 DOM
9. 2026-06-02
   days on market $48,000 Active 251 DOM
10. 2026-05-31
    days on market $48,000 Active 250 DOM
11. 2026-05-20
    price $59,000
12. 2026-05-04
    price $76,900
13. 2026-04-17
    status Active
14. 2026-04-03
    historical $1,100
15. 2026-02-28
    historical
16. 2026-01-08
    price $89,000
17. 2025-12-06
    listed $1,100
18. 2025-12-05
    price $94,000
19. 2025-09-23
    price $98,000
20. 2025-08-06
    listed $112,000 Active
21. 2025-02-27
    historical $1,100
22. 2025-02-26
    listed $1,100
23. 2025-02-26
    historical $1,100
24. 2025-02-19
    price $1,100
25. 2025-02-19
    historical $1,250
26. 2025-02-19
    listed $1,250
27. 2025-02-12
    listed $1,250
28. 2025-02-12
    historical $1,250
29. 2025-01-25
    listed $1,250
30. 2023-04-27
    soldstatus $105,000
31. 2023-04-25
    soldstatus $105,000 Closed 765-char remark

    Show marketing remark (765 chars)

    Don’t miss this spacious, ground level, 3 Bedroom and 2 bath condo in the charming 55+ community of Chesterbrook. Conveniently located just minutes from downtown Leesburg where you can enjoy shopping and dining as well as all this area has to offer including the natural beauty of the Harris Chain of Lakes. As you enter this first floor unit there is a large living room and dining room combo with attractive laminate flooring. The master bedroom features three large closets with plenty of storage and a dual sink in the master bathroom. The two guest bedrooms are spacious and inviting. The enclosed porch is a great utility space with ceramic tile and a storage closet. Come and see this home and experience the beauty and peacefulness of Central Florida.

32. 2023-02-18
    status Pending 765-char remark

    Show marketing remark (765 chars)

    Don’t miss this spacious, ground level, 3 Bedroom and 2 bath condo in the charming 55+ community of Chesterbrook. Conveniently located just minutes from downtown Leesburg where you can enjoy shopping and dining as well as all this area has to offer including the natural beauty of the Harris Chain of Lakes. As you enter this first floor unit there is a large living room and dining room combo with attractive laminate flooring. The master bedroom features three large closets with plenty of storage and a dual sink in the master bathroom. The two guest bedrooms are spacious and inviting. The enclosed porch is a great utility space with ceramic tile and a storage closet. Come and see this home and experience the beauty and peacefulness of Central Florida.

33. 2023-02-07
    listed $110,000 Active 765-char remark

    Show marketing remark (765 chars)

    Don’t miss this spacious, ground level, 3 Bedroom and 2 bath condo in the charming 55+ community of Chesterbrook. Conveniently located just minutes from downtown Leesburg where you can enjoy shopping and dining as well as all this area has to offer including the natural beauty of the Harris Chain of Lakes. As you enter this first floor unit there is a large living room and dining room combo with attractive laminate flooring. The master bedroom features three large closets with plenty of storage and a dual sink in the master bathroom. The two guest bedrooms are spacious and inviting. The enclosed porch is a great utility space with ceramic tile and a storage closet. Come and see this home and experience the beauty and peacefulness of Central Florida.

34. 2023-02-03
    status Active
35. 2023-02-03
    historical
36. 2022-12-05
    status Pending
37. 2022-07-25
    price $110,000
38. 2022-06-29
    price $115,000
39. 2022-06-21
    listed $120,000 Active
40. 2022-06-14
    historical
41. 2022-06-10
    status Active
42. 2022-04-07
    status Pending
43. 2022-04-02
    listed $110,000 Active
44. 2021-03-12
    soldstatus $54,000 Sold
45. 2021-02-23
    status Pending
46. 2021-01-04
    price $55,900
47. 2020-12-29
    listed $61,000 Active
48. 2003-04-02
    soldstatus $57,900
49. 1998-09-09
    soldstatus $49,900

ⓘ 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: $1,398 · $116/mo
• Projected year-2 tax: $1,398 · $116/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 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: $20,130
• − Mortgage interest: −$2,689
• − Property taxes: −$1,398
• − Insurance: −$240
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − HOA: −$10,440
• − Depreciation: −$1,396
• Taxable income: $747
• Est. tax owed @ 24.0%: −$179
• After-tax cash flow: $625/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 — Leesburg

• Score: 62/100
• State rank: #751
• US rank: #16429

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leesburg, FL
• County: Lake County · 364,602 people
• City population: 70,232
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 48,095
• Household income: $58,192
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 1745.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 16% Hispanic / Latino 15% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 10% French/Haitian/Cajun 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: ▼ -88.97%
• Current HPI: 262.1766
• Rent YoY: ▼ -0.95%
• 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

+18.2% since first listed

39 events — show timeline

• 2026-05-20 Price Changed $59,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-04 Price Changed $76,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-17 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-03 Rental Removed $1,100 APPFOLIO
• 2026-02-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-01-08 Price Changed $89,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-06 Listed for Rent $1,100 APPFOLIO
• 2025-12-05 Price Changed $94,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-23 Price Changed $98,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-06 Listed $112,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-27 Rental Removed $1,100 APPFOLIO
• 2025-02-26 Listed for Rent $1,100 APPFOLIO
• 2025-02-26 Rental Removed $1,100 STELLARMLS
• 2025-02-19 Price Changed $1,100 STELLARMLS
• 2025-02-19 Rental Removed $1,250 APPFOLIO
• 2025-02-19 Listed for Rent $1,250 APPFOLIO
• 2025-02-12 Listed for Rent $1,250 STELLARMLS
• 2025-02-12 Rental Removed $1,250 APPFOLIO
• 2025-01-25 Listed for Rent $1,250 APPFOLIO
• 2023-04-27 Sold (Public Records) $105,000 Public Records
• 2023-04-25 Sold (MLS) $105,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-02-07 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-03 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-02-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-12-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-07-25 Price Changed $110,000 Stellar MLS as Distributed by MLS Grid
• 2022-06-29 Price Changed $115,000 Stellar MLS as Distributed by MLS Grid
• 2022-06-21 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 2022-06-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-06-10 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-04-07 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-04-02 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2021-03-12 Sold (MLS) $54,000 Stellar MLS as Distributed by MLS Grid
• 2021-02-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-01-04 Price Changed $55,900 Stellar MLS as Distributed by MLS Grid
• 2020-12-29 Listed $61,000 Stellar MLS as Distributed by MLS Grid
• 2003-04-02 Sold (Public Records) $57,900 Public Records
• 1998-09-09 Sold (Public Records) $49,900 Public Records

Property tax history

+21.4%/yr

Latest (2025): $1,398 · +9.8% YoY. Source: county tax records.