2218 Orkney Dr · Silver Lake, FL 34788

$229,000

2 bd · 2.0 ba · 1,500 sqft · Condo public records · 56 Days on market

Built 1989 $215/mo HOA · 10% 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 +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• DSCR +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This lovely 1500 sqft 2 bedroom 2 bath home is nestled in the sought after neighborhood of Scottish Highlands which boasts of tennis courts, shuffleboard, indoor and outdoor community swimming pools. You love enjoying the fabulous Florida weather with the enclosed front porch plus an additional enclosed Florida room with 3 large windows giving you great views of the backyard area with huge grand oak trees and no rear neighbors. This home has nice neutral colors that create a bright relaxing atmosphere. The kitchen is ideal with closet pantry, upgraded countertop, and breakfast bar connected to the dining area. The spacious master suite includes large jetted tub, walk-in closet, and separate shower. All of this and a new 2017 roof! Close to all the conveniences you could ask from including a mall, variety of dining options, parks, and services. Come and fall in love with the active exciting lifestyle that Scottish Highland has to offer.

Key facts

• No rear neighbors
• Well for irrigation
• Long driveway

Tags

• NO REAR NEIGHBORS
• LONG DRIVEWAY
• WELL FOR IRRIGATION
• FRONT COVERED SCREENED PORCH
• UPDATED COUNTERTOPS
• BREAKFAST BAR

Property features AI

Finance

• Other: Association fee frequency: monthly
• Financial info: Lease restrictions apply
• HOA & community: Scottish Highlands community association (monthly fee); Monthly HOA: $215 (required; approval required); HOA includes cable TV, internet, pool, sewer, management, common area taxes, escrow reserves, fidelity bond, recreational facilities; Community clubhouse, pool, spa/hot tub, tennis, pickleball and shuffleboard courts, recreation facilities, storage; Deed restrictions, vehicle restrictions, fence restrictions, lobby key required, community mailbox; Buyer approval required; Golf carts allowed; Senior community; Pets allowed

Exterior

• Parking: Attached oversized garage with garage door opener (18x24); 1 garage space
• Security: Smoke detectors
• Utilities: Public water; Private sewer; Sewer connected; Water connected; Electricity connected; Natural gas available and connected; Cable connected; Underground utilities; Sprinkler well
• Home design: Single family residence; One story; North-facing entry
• Construction: Vinyl siding and frame construction; Shingle roof; Slab foundation; Built as residential single-family
• Exterior features: Covered, enclosed and screened patio/porch areas; Front porch; Patio; Patio is screened; Rain gutters; Irrigation equipment; Mature landscaping; Level, landscaped oversized lot in a cul-de-sac; Paved, public maintained road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Stone counters
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Open floorplan; Stone counters; Walk-in closets; Window treatments
• Laundry & utility: Washer; Dryer; Water softener; Gas water heater; Laundry in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $229k.

Deal economics

• At list price, monthly cash flow is $-7 ($-82/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (6.6% below list).
• Recommended offer: $214k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 5.1% in Silver Lake — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#644 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety 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: Treadway Elementary School (math 53% / reading 48%, grade D+, #1,055 of 2,144 statewide, top 50%, 879 students, 66% FRL); Tavares Middle School (math 43% / reading 40%, grade F, #348 of 571 statewide, top 62%, 1,070 students, 58% FRL); Tavares High School (math 32% / reading 40%, grade F, #359 of 667 statewide, top 55%, 1,507 students, 45% FRL).
• Market conditions: 288 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• At $2,139/mo this rent would consume 47% of the median local household income ($54k/yr) (locally 406% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 56 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $126k; list at $229k implies a 81% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $213,869 (6.6% 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 56 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.93% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.5%
• Equity multiple: 0.42×
• Total profit: $-37,442
• Equity at exit: $34,145

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-32,751
• Equity at exit: $19,800

Cash invested: $64,120 (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 34788

• Home prices YoY: -18.2%
• Active inventory: 288
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,139 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$185 /mo · $2,221/yr
• Insurance: −$95
• HOA: −$215
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $-7

Break-even live

Break-even rent $2,147

Max offer price $227,789

Occupancy floor 95%

Sensitivity live

Price	-10% $123	-5% $58	+0% $-7	+5% $-72	+10% $-136
Rent	-10% $-176	-5% $-91	+0% $-7	+5% $78	+10% $162
Rate	-1.0pp $108	-0.5pp $51	base $-7	+0.5pp $-66	+1.0pp $-127

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10402 Pleasant View Dr Leesburg, FL	3.0	2.0	1931	$2,599	$1.35	7d	1	0.48mi
10240 Barrington Ct Leesburg, FL	3.0	2.0	2090	$2,700	$1.29	14d	1	0.60mi
35 Aberdeen Cir Leesburg, FL	2.0	2.0	1072	$1,400	$1.31	26d	1	0.68mi
34000 Sky Blossom Cir Leesburg, FL	3.0	2.0	1540	$2,100	$1.36	26d	1	0.92mi
33670 Sky Blossom Cir Leesburg, FL	3.0	2.0	1540	$1,950	$1.27	26d	1	1.08mi
32635 Vista Ave Leesburg, FL	3.0	2.0	1159	$1,950	$1.68	26d	1	1.45mi
32629 Vista Ave Leesburg, FL	3.0	2.0	1700	$1,950	$1.15	17d	1	1.46mi
32629 Vista Ave Leesburg, FL	3.0	2.0	1500	$1,850	$1.23	20d	1	1.46mi

HOA detail condo

• Monthly dues: $215 · $2,580/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-04
   status $229,000 Active 56 DOM
2. 2026-04-02
   listed $229,000 Active
3. 2018-02-23
   soldstatus $126,500
4. 2018-02-16
   soldstatus $126,500 Sold 949-char remark

   Show marketing remark (949 chars)

   This lovely 1500 sqft 2 bedroom 2 bath home is nestled in the sought after neighborhood of Scottish Highlands which boasts of tennis courts, shuffleboard, indoor and outdoor community swimming pools. You love enjoying the fabulous Florida weather with the enclosed front porch plus an additional enclosed Florida room with 3 large windows giving you great views of the backyard area with huge grand oak trees and no rear neighbors. This home has nice neutral colors that create a bright relaxing atmosphere. The kitchen is ideal with closet pantry, upgraded countertop, and breakfast bar connected to the dining area. The spacious master suite includes large jetted tub, walk-in closet, and separate shower. All of this and a new 2017 roof! Close to all the conveniences you could ask from including a mall, variety of dining options, parks, and services. Come and fall in love with the active exciting lifestyle that Scottish Highland has to offer.

5. 2018-01-08
   status Pending 949-char remark

   Show marketing remark (949 chars)

   This lovely 1500 sqft 2 bedroom 2 bath home is nestled in the sought after neighborhood of Scottish Highlands which boasts of tennis courts, shuffleboard, indoor and outdoor community swimming pools. You love enjoying the fabulous Florida weather with the enclosed front porch plus an additional enclosed Florida room with 3 large windows giving you great views of the backyard area with huge grand oak trees and no rear neighbors. This home has nice neutral colors that create a bright relaxing atmosphere. The kitchen is ideal with closet pantry, upgraded countertop, and breakfast bar connected to the dining area. The spacious master suite includes large jetted tub, walk-in closet, and separate shower. All of this and a new 2017 roof! Close to all the conveniences you could ask from including a mall, variety of dining options, parks, and services. Come and fall in love with the active exciting lifestyle that Scottish Highland has to offer.

6. 2017-11-09
   listed $134,900 Active 949-char remark

   Show marketing remark (949 chars)

   This lovely 1500 sqft 2 bedroom 2 bath home is nestled in the sought after neighborhood of Scottish Highlands which boasts of tennis courts, shuffleboard, indoor and outdoor community swimming pools. You love enjoying the fabulous Florida weather with the enclosed front porch plus an additional enclosed Florida room with 3 large windows giving you great views of the backyard area with huge grand oak trees and no rear neighbors. This home has nice neutral colors that create a bright relaxing atmosphere. The kitchen is ideal with closet pantry, upgraded countertop, and breakfast bar connected to the dining area. The spacious master suite includes large jetted tub, walk-in closet, and separate shower. All of this and a new 2017 roof! Close to all the conveniences you could ask from including a mall, variety of dining options, parks, and services. Come and fall in love with the active exciting lifestyle that Scottish Highland has to offer.

7. 2013-05-14
   soldstatus $78,000
8. 2013-05-09
   soldstatus $78,000 855-char remark

   Show marketing remark (855 chars)

   Scottish Highlands has a place for you! This lovely community has tennis courts, shuffle board, large community swimming pool & great neighbors. Available is a 2/2 1,500 sf home with a screen enclosed front porch plus an enclosed Florida room with 3 large picture windows giving you wonderful views of the back yard area including huge grand Oak trees. This home is done with neutral colors that carry into a lovely kitchen that's just the place for you, friends & family to catch up on everything. A big jetted garden tub in the master bathroom is ready to bubble up in after a good (or bad) day of tennis, shuffle board or fishing on the nearby Harris Chain of Lakes. It's all "move in ready" for your brand new Scottish Highlands life. Low monthly fees, a newroof in 2007 and a new "Zoysia" lawn in 2011 seal the deal.

9. 2012-02-16
   listed $82,500 855-char remark

   Show marketing remark (855 chars)

   Scottish Highlands has a place for you! This lovely community has tennis courts, shuffle board, large community swimming pool & great neighbors. Available is a 2/2 1,500 sf home with a screen enclosed front porch plus an enclosed Florida room with 3 large picture windows giving you wonderful views of the back yard area including huge grand Oak trees. This home is done with neutral colors that carry into a lovely kitchen that's just the place for you, friends & family to catch up on everything. A big jetted garden tub in the master bathroom is ready to bubble up in after a good (or bad) day of tennis, shuffle board or fishing on the nearby Harris Chain of Lakes. It's all "move in ready" for your brand new Scottish Highlands life. Low monthly fees, a newroof in 2007 and a new "Zoysia" lawn in 2011 seal the deal.

10. 1994-08-09
    soldstatus $79,000

ⓘ 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: $2,221 · $185/mo
• Projected year-2 tax: $2,221 · $185/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: $25,664
• − Mortgage interest: −$12,828
• − Property taxes: −$2,221
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,053
• − Management: −$2,053
• − HOA: −$2,580
• − Depreciation: −$6,662
• Taxable loss: −$3,878
• Est. tax savings @ 24.0%: +$931
• After-tax cash flow: $848/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 — Silver Lake

• Score: 65/100
• State rank: #644
• US rank: #12722

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 364,602 people
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 22,137
• Household income: $54,147
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 406.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 1% Tagalog/Filipino 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: ▼ -61.07%
• Current HPI: 273.6616
• Rent YoY: —
• 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

+189.9% since first listed

9 events — show timeline

• 2026-04-02 Listed $229,000 Stellar MLS as Distributed by MLS Grid
• 2018-02-23 Sold (Public Records) $126,500 Public Records
• 2018-02-16 Sold (MLS) $126,500 Stellar MLS as Distributed by MLS Grid
• 2018-01-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-11-09 Listed $134,900 Stellar MLS as Distributed by MLS Grid
• 2013-05-14 Sold (Public Records) $78,000 Public Records
• 2013-05-09 Sold (MLS) $78,000 Stellar MLS as Distributed by MLS Grid
• 2012-02-16 Listed $82,500 Stellar MLS as Distributed by MLS Grid
• 1994-08-09 Sold (Public Records) $79,000 Public Records

Property tax history

+11.5%/yr

Latest (2025): $2,221 · +3.2% YoY. Source: county tax records.