1666 Elkhart Cir · Tavares, FL 32778

$209,900

2 bd · 2.0 ba · 1,354 sqft · Manufactured public records · 19 Days on market

Built 1994 5,872 sqft lot Est $187k · 12% over $52/mo HOA · 3% 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 +20.5/30.0
• DSCR +6.5/10.0
• 1% rule +4.7/10.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

BACK ON MARKET (Buyers Home Sale Fell Through). Home has been re-piped, take advantage of this opportunity! Conveniently located in one of the premier 55+ communities, Lake Frances Estates this 2 bedroom 2 bath home has been recently updated to include granite countertops, new cabinets, and built in's throughout. The open floor plan offers a sizeable kitchen with bar seating as well as formal dining all of which lead to the large open living area. Under the partially screened carport, you will find the utility/storage room with washer and dryer hookup, and if you still need more storage you have an outside storage building. The community features 2 swimming pools, a billiard and card room, shuffleboard courts, a recreation hall, a community dock, and ramp and RV boat storage. This is a great golf cart community convenient to shopping and banks. All of this for only $35.00 per month in HOA fees call today to schedule your showing.

Key facts

• Breakfast nook
• Clubhouse
• Swimming pools

Tags

• SCREENED PORCH
• UPDATED KITCHEN
• BREAKFAST NOOK
• CLUBHOUSE
• SWIMMING POOLS
• GOLF CART FRIENDLY

Property features AI

Finance

• Other: Unfurnished; Property type: Residential (manufactured home); Property condition: Completed; Lot approx. 0.13 acres (60 x 100)
• Financial info: Total monthly fees: $52; Total annual fees: $624
• HOA & community: Monthly HOA fee ($52) — includes pool; Association amenities: Clubhouse; Buyer approval required; Deed restrictions; Senior community; Pets allowed: Cats and dogs

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Manufactured home (double wide); Single-story; Faces west; Entry level: 1
• Construction: Vinyl siding and frame construction; Shingle roof; Crawl space foundation (pillar/post/pier)
• Exterior features: Storage; Asphalt road frontage; Public maintained road

Interior

• Kitchen: Dishwasher; Range; Microwave
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heat; Central air conditioning
• Interior features: Built-in features; Ceiling fans; Window treatments; Skylight(s)
• Laundry & utility: Washer; Dryer; Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/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 $203k (3.5% below list).
• Recommended offer: $203k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.5% in Tavares — 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 76/100 on livability (#220 in FL, #3,464 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing 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: Tavares Elementary School (math 49% / reading 45%, grade D-, #1,191 of 2,144 statewide, top 57%, 875 students, 61% FRL); Tavares High School (math 32% / reading 40%, grade F, #359 of 667 statewide, top 55%, 1,507 students, 45% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents rising fast (+4.0%/yr); 501 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 38% of the median local income ($63k/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 $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

• It's been on market 19 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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 $180k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $202,562 (3.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.97% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.61%
• DSCR: 1.25
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $186,852
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1547 Apache Cir	0.08mi	2/2.0	1,360 (+0%)	9mo	$152,008	$112	89
1437 Mohawk Cir	0.14mi	2/2.0	1,248 (-8%)	1mo	$172,500	$138	80
1001 Belmont Cir	0.43mi	2/2.0	1,352 (-0%)	3mo	$155,000	$115	78
1528 Schult Ct	0.19mi	2/2.0	1,248 (-8%)	6mo	$170,000	$136	72
1560 Skyline Dr	0.16mi	3/2.0 (+1)	1,471 (+9%)	4mo	$265,000	$180	70
1424 Mohawk Cir	0.16mi	2/2.0	1,160 (-14%)	2mo	$195,000	$168	67
1156 Capella Dr	0.39mi	2/2.0	1,248 (-8%)	11mo	$184,900	$148	60
1209 Apache Cir	0.27mi	2/2.0	1,152 (-15%)	9mo	$128,000	$111	55

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 · 4.05% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-14,397
• Equity at exit: $31,297

10-year hold

• IRR: 4.2%
• Equity multiple: 1.32×
• Total profit: $18,874
• Equity at exit: $18,148

Cash invested: $58,772 (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 32778

• Home prices YoY: -23.4%
• Rents YoY: 4.0%
• Active inventory: 501
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,026 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$85 /mo · $1,023/yr
• Insurance: −$87
• HOA: −$52
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $275

Break-even live

Break-even rent $1,678

Max offer price $209,900

Occupancy floor 81%

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
336 Shorewood Dr Tavares, FL	3.0	2.0	1740	$2,215	$1.27	16d	1	0.44mi
1003 Dora Ave Tavares, FL	3.0	3.5	1680	$2,400	$1.43	15d	1	0.47mi
1003 Dora Ave Unit A Tavares, FL	3.0	3.5	1788	$2,400	$1.34	24d	1	0.47mi
2225 Cypress Ct Unit 2C Tavares, FL	2.0	2.0	1334	$2,000	$1.50	24d	1	0.49mi
814 N Saint Clair Abrams Ave Tavares, FL	3.0	2.0	1872	$1,275	$0.68	24d	1	0.58mi
807 McLain Ct Tavares, FL	2.0	2.0	1104	$1,700	$1.54	16d	1	0.65mi
1632 Tudor Ln Unit 1632 Tavares, FL	2.0	2.0	1047	$1,595	$1.52	18d	1	0.65mi
743 E Alfred St Tavares, FL	2.0	1.0	1000	$1,450	$1.45	24d	1	0.84mi
1403 E Alfred St Unit 200 Tavares, FL	2.0	1.5	1000	$2,000	$2.00	18d	1	1.00mi
1108 Longville Cir Tavares, FL	3.0	2.0	1585	$2,150	$1.36	5d	1	1.01mi
2420 Ann Rou Rd Unit 201 Tavares, FL	1.0	1.0	1000	$1,555	$1.55	18d	1	1.05mi
2213 Merry Rd Tavares, FL	3.0	2.0	1596	$1,990	$1.25	4d	1	1.08mi
2460 Ann Rou Rd Unit 606 Tavares, FL	2.0	2.0	1167	$1,750	$1.50	18d	1	1.17mi
123 N Lake Ave Tavares, FL	2.0	1.0	1120	$1,595	$1.42	24d	1	1.36mi
2698 Rowan St Tavares, FL	3.0	2.0	1614	$2,399	$1.49	2d	1	1.38mi
3342 Landing View Tavares, FL	3.0	2.0	1690	$1,995	$1.18	3d	1	1.47mi

HOA detail

• Monthly dues: $52 · $624/yr
• Likely covers: pool

Listing history 14 events

1. 2026-06-18
   days on market $209,900 Active 19 DOM
2. 2026-06-17
   days on market $209,900 Active 18 DOM
3. 2026-06-16
   days on market $209,900 Active 17 DOM
4. 2026-06-15
   days on market $209,900 Active 16 DOM
5. 2026-06-13
   days on market $209,900 Active 14 DOM
6. 2026-06-09
   days on market $209,900 Active 10 DOM
7. 2026-06-08
   days on market $209,900 Active 9 DOM
8. 2026-06-07
   days on market $209,900 Active 8 DOM
9. 2026-06-04
   days on market $209,900 Active 5 DOM
10. 2026-06-03
    days on market $209,900 Active 4 DOM
11. 2026-06-02
    days on market $209,900 Active 3 DOM
12. 2026-06-01
    days on market $209,900 Active 2 DOM
13. 2026-05-31
    remarks 693-char remark
14. 2026-05-31
    listed $209,900 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: $1,023 · $85/mo
• Projected year-2 tax: $1,742 · $145/mo
• Expected delta: +$719/yr (+$60/mo · 70.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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: $24,307
• − Mortgage interest: −$11,758
• − Property taxes: −$1,023
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − HOA: −$624
• − Depreciation: −$6,106
• Taxable loss: −$142
• Est. tax savings @ 24.0%: +$34
• After-tax cash flow: $3,331/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 — Tavares

• Score: 76/100
• State rank: #220
• US rank: #3464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tavares, FL
• County: Lake County · 364,602 people
• City population: 25,042
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 25,042
• Household income: $63,472
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 586.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 8% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Cuban 2% Dominican 1%
• Common ancestry: Romanian 4% Italian 3% Slovak 2%
• Foreign-born: 9% · Canada, Dominican Republic, Jamaica
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Other Asian/Pacific 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: ▼ -88.07%
• Current HPI: 288.7123
• Rent YoY: ▲ 4.05%
• 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

+250.4% since first listed

20 events — show timeline

• 2026-05-30 Listed $209,900 Stellar MLS as Distributed by MLS Grid
• 2021-11-09 Sold (Public Records) $180,000 Public Records
• 2021-11-03 Sold (MLS) $180,000 Stellar MLS as Distributed by MLS Grid
• 2021-10-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-10-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2021-09-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-09-21 Relisted — Stellar MLS as Distributed by MLS Grid
• 2021-09-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-09-16 Price Changed $187,500 Stellar MLS as Distributed by MLS Grid
• 2021-09-08 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2021-01-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-01-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2020-11-10 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2016-07-20 Sold (Public Records) $92,900 Public Records
• 2016-07-15 Sold (MLS) $92,900 Stellar MLS as Distributed by MLS Grid
• 2016-06-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-06-21 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-05-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-05-23 Listed $92,900 Stellar MLS as Distributed by MLS Grid
• 1995-05-05 Sold (Public Records) $59,900 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,023 · +3.4% YoY. Source: county tax records.