44931 2nd St · Lake Mack-Forest Hills, FL 32720

$185,000

2 bd · 2.0 ba · 1,128 sqft · Manufactured public records · 4 Days on market

Built 1977 0.31 ac lot

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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 +14.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.2/10.0
• 1% rule +3.4/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Country living yet located just a few miles from historic downtown Deland. Welcome to your move in ready furnished two bedroom, two bath home situated on over a 1/4 acre of land. Also included is the adjacent beautiful lot which is also over a 1/4 acre and has a separate parcel number. Enjoy the magnificent view that can allow many nights of serenity. From the front open 14X10 porch with composite decking, step into your cozy 16X15 living room/dining room which includes a maple built-in entertainment center. To the right is a spacious 23 x 11 family room with vaulted ceiling, ideal for a game room, pool table or movie night with the family. Kitchen ha

Key facts

• Swanstone countertop
• Open porch
• Updated kitchen

Tags

• HISTORIC DOWNTOWN DELAND
• ADJACENT BEAUTIFUL LOT
• OPEN PORCH
• SPACIOUS FAMILY ROOM
• UPDATED KITCHEN
• SWANSTONE COUNTERTOP

Property features AI

Finance

• Other: Furnished; Property type: Residential; Total acreage between 1/4 and less than 1/2 acre (approx. 0.31 acre); Lot dimensions approximately 100 x 135; Zoning: A; Has additional parcels
• HOA & community: No association fees

Exterior

• Parking: 2-car garage; RV access/parking; Workshop in garage
• Utilities: Well water; Septic tank; Electricity connected; Water connected
• Home design: Manufactured double-wide home; Single-story; Faces east; Entry level: One
• Construction: Metal frame construction; Metal roof; Crawlspace foundation; Built as a manufactured home
• Exterior features: Deck; Corner lot; Dirt road access

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Ceiling fans; Living room/dining room combo; Family room
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $34 ($412/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (15.8% below list).
• Recommended offer: $156k (15.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Spring Creek Charter School (math 45% / reading 44%, grade F, #1,288 of 2,144 statewide, top 62%, 630 students, 100% FRL, charter); Umatilla Middle School (math 58% / reading 46%, grade C+, #217 of 571 statewide, top 40%, 595 students, 57% FRL); Umatilla High School (math 24% / reading 29%, grade F, #489 of 667 statewide, top 74%, 861 students, 51% FRL) — zoned schools average 69% FRL vs 49% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 444 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,782 (15.8% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.84% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.36% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.47×
• Total profit: $-27,253
• Equity at exit: $27,584

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-18,686
• Equity at exit: $15,995

Cash invested: $51,800 (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 32720

• Rents YoY: 3.4%
• Active inventory: 444
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,558 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$149 /mo · $1,789/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $34

Break-even live

Break-even rent $1,514

Max offer price $185,000

Occupancy floor 93%

Sensitivity live

Price	-10% $139	-5% $87	+0% $34	+5% $-18	+10% $-70
Rent	-10% $-89	-5% $-27	+0% $34	+5% $96	+10% $157
Rate	-1.0pp $127	-0.5pp $81	base $34	+0.5pp $-14	+1.0pp $-62

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-13
   statusdays on market $185,000 Pending 4 DOM
2. 2026-06-09
   days on market $185,000 Active 3 DOM
3. 2026-06-08
   days on market $185,000 Active 2 DOM
4. 2026-06-07
   remarks 699-char remark
5. 2026-06-07
   listed $185,000 Active 1 DOM

ⓘ 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: $1,789 · $149/mo
• Projected year-2 tax: $1,789 · $149/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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 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: $18,694
• − Mortgage interest: −$10,363
• − Property taxes: −$1,789
• − Insurance: −$925
• − Repairs & maintenance: −$1,496
• − Management: −$1,496
• − Depreciation: −$5,382
• Taxable loss: −$2,756
• Est. tax savings @ 24.0%: +$662
• After-tax cash flow: $1,073/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 — Lake Mack-Forest Hills

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lake Mack-Forest Hills, FL
• County: Volusia County · 556,871 people
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 36,259
• Household income: $68,830
• Rent vs Own: 30.5% rent · 69.5% own
• Severe rent burden: 1145.0

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% Hispanic / Latino 21% Black 11% Two or more races 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 9% Cuban 3%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 7% · Canada, Jamaica, Vietnam
• Languages at home: 85% English-only · Spanish 13%

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: ▼ -194.54%
• Current HPI: 330.7324
• Rent YoY: ▲ 3.36%
• Metro: Deltona-Daytona Beach-Ormond Beach, 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

1 event — show timeline

• 2026-06-06 Listed $185,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+7.1%/yr

Latest (2025): $1,789 · +0.6% YoY. Source: county tax records.