2329 South Ave · Fruitland Park, FL 34748

$262,900

3 bd · 2.0 ba · 1,468 sqft · SingleFamily public records · 73 Days on market

Built 1999 8,399 sqft lot Est $248k · 6% over

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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 +4.8/15.0
• Schools +4.2/10.0
• DSCR +3.8/10.0
• Livability +3.5/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HomeSteps Home! Offered As-Is, seller will make no repairs. Seller is offering a "Special Financing" product for qualified purchasers. This property is eligible under the Freddie Mac First Look Initiative through 05/04/14.

Key facts

• Spacious backyard
• 8,399 sq ft lot
• 2 garage spots

Tags

• SPACIOUS BACKYARD
• NEAR LAKE GRIFFIN STATE PARK
• NEAR HARRIS CHAIN OF LAKES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $263k.

Deal economics

• At list price, monthly cash flow is $-24 ($-293/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (22.8% below list).
• Recommended offer: $203k (22.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.0% in Fruitland Park — 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 70/100 on livability (#447 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A-; Watch: schools 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 soft (-0.9%/yr); 783 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 42% 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 $2k of loan paydown is wiped out by about $8k 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 73 days — a 6% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $105k; list at $263k 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 $203,029 (22.8% 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 73 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
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. 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: 0.77% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.40%
• DSCR: 0.98
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $248,092
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2329 North Ave	0.06mi	3/2.0	1,274 (-13%)	4mo	$215,000	$169	72

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.32×
• Total profit: $-50,192
• Equity at exit: $39,199

10-year hold

• IRR: -20.3%
• Equity multiple: 0.06×
• Total profit: $-69,049
• Equity at exit: $22,731

Cash invested: $73,612 (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: 10.8×

Monthly cashflow live

• Estimated rent: $2,030 high
• Mortgage (P&I): −$1,379
• Tax from tax record: −$140 /mo · $1,682/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $-24

Break-even live

Break-even rent $2,061

Max offer price $258,586

Occupancy floor 96%

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: $65,725
• Closing costs: $7,887
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2429 Centennial Blvd Leesburg, FL	4.0	2.0	1057	$2,300	$2.18	20d	1	0.17mi
2400 Silver Pointe Cir Leesburg, FL	1.0–2.0	1.0	837	$1,050	$1.25	24d	1	0.81mi
2511 Sennett Dr Leesburg, FL	2.0–4.0	2.0	1215	$1,940	$1.60	24d	1	0.89mi
1241 Atlantic Ave Fruitland Park, FL	3.0	2.0	1344	$2,100	$1.56	24d	1	0.95mi
307 Willard Ave Fruitland Park, FL	3.0	2.0	1796	$1,881	$1.05	12d	1	1.21mi
1013 Beecher St Unit 1 Leesburg, FL	3.0	1.0	900	$1,250	$1.39	22d	1	1.46mi

Listing history 11 events

1. 2026-04-14
   status Pending
2. 2026-03-07
   price $262,900
3. 2026-02-20
   price $274,900
4. 2026-02-14
   price $274,950
5. 2026-01-30
   listed $275,000 Active
6. 2014-06-11
   soldstatus $105,000 Sold 232-char remark

   Show marketing remark (232 chars)

   HomeSteps Home! Offered As-Is, seller will make no repairs. Seller is offering a "Special Financing" product for qualified purchasers. This property is eligible under the Freddie Mac First Look Initiative through 05/04/14.

7. 2014-06-10
   historical 232-char remark

   Show marketing remark (232 chars)

   HomeSteps Home! Offered As-Is, seller will make no repairs. Seller is offering a "Special Financing" product for qualified purchasers. This property is eligible under the Freddie Mac First Look Initiative through 05/04/14.

8. 2014-04-22
   status Pending 232-char remark

   Show marketing remark (232 chars)

   HomeSteps Home! Offered As-Is, seller will make no repairs. Seller is offering a "Special Financing" product for qualified purchasers. This property is eligible under the Freddie Mac First Look Initiative through 05/04/14.

9. 2014-04-15
   listed $109,900 Active 232-char remark

   Show marketing remark (232 chars)

   HomeSteps Home! Offered As-Is, seller will make no repairs. Seller is offering a "Special Financing" product for qualified purchasers. This property is eligible under the Freddie Mac First Look Initiative through 05/04/14.

10. 2004-10-06
    soldstatus $124,000
11. 1999-08-09
    soldstatus $102,300

ⓘ 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: $1,682 · $140/mo
• Projected year-2 tax: $2,182 · $182/mo
• Expected delta: +$501/yr (+$42/mo · 29.8%)

ⓘ 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 8/10 Severe 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: $24,363
• − Mortgage interest: −$14,726
• − Property taxes: −$1,682
• − Insurance: −$1,314
• − Repairs & maintenance: −$1,949
• − Management: −$1,949
• − Depreciation: −$7,648
• Taxable loss: −$4,905
• Est. tax savings @ 24.0%: +$1,177
• After-tax cash flow: $884/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 — Fruitland Park

• Score: 70/100
• State rank: #447
• US rank: #8098

Category grades

Amenities F Commute F Cost of living B+ Crime A Employment C 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: 12,196
• 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

+157.0% since first listed

11 events — show timeline

• 2026-04-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-07 Price Changed $262,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-20 Price Changed $274,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-14 Price Changed $274,950 Stellar MLS as Distributed by MLS Grid
• 2026-01-30 Listed $275,000 Stellar MLS as Distributed by MLS Grid
• 2014-06-11 Sold (MLS) $105,000 Stellar MLS as Distributed by MLS Grid
• 2014-06-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-04-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2014-04-15 Listed $109,900 Stellar MLS as Distributed by MLS Grid
• 2004-10-06 Sold (Public Records) $124,000 Public Records
• 1999-08-09 Sold (Public Records) $102,300 Public Records

Property tax history

+10.3%/yr

Latest (2025): $1,682 · +3.1% YoY. Source: county tax records.