842 Spring Ave · Leesburg, FL 34762

$249,900

2 bd · 2.0 ba · 1,227 sqft · SingleFamily public records · 81 Days on market

Built 2023 Good condition 3,600 sqft lot $204/mo HOA · 7% of rent ↓ 3% since listing

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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 +17.8/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• 1% rule +6.0/10.0
• DSCR +5.6/10.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0

Listing remarks

Welcome to this stunning 2023 Opal model patio villa, ideally situated in the sought-after Villages of West Lake. This beautifully maintained home showcases modern design, quality craftsmanship, and exceptional comfort. Start your day with coffee on the inviting screened front porch, or host friends on the spacious side patio perfect for outdoor entertaining. Step inside to discover a thoughtfully designed 2-bedroom, 2-bath villa with an open concept layout that seamlessly connects the spacious living area to the well-appointed kitchen—ideal for everyday living and entertaining. The kitchen features abundant cabinetry, offering generous storage for all your culinary needs. The expansi

Key facts

• Screened front porch
• Community pool
• Wash sink in garage

Tags

• SCREENED FRONT PORCH
• SPACIOUS SIDE PATIO
• WELL-APPOINTED KITCHEN
• TANKLESS WATER HEATER
• WASH SINK IN GARAGE
• COMMUNITY POOL

Property features AI

Finance

• Other: Living area reported as 1,227 (public records); total building area 1,685; One lot (0.08 acres); Directions available
• Financial info: Association fees: $204 monthly (totaling $2,448 annually); Other annual assessment: $1,572; Lease restrictions apply
• HOA & community: Community features include clubhouse, pool, sidewalks, community mailbox, deed restrictions, golf and golf-cart friendly; Buyer approval required; Senior community

Exterior

• Parking: Attached garage (1 car) with garage door opener; Driveway; Garage approx. 18 x 21
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; BB/HS internet available; Cable available; Electricity connected; Natural gas connected; Phone available
• Home design: Residential villa; One level; North-facing
• Construction: Vinyl siding and frame construction; Shingle roof; Slab foundation; Built as a single-story
• Exterior features: Covered, enclosed porch; Porch; Sliding doors; Mature landscaping; Paved lot and road

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Tankless water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Natural gas heating; Central air conditioning
• Interior features: High ceilings; Kitchen and family room combined; Living and dining room combined; Open floorplan; Solid wood cabinets; Thermostat; Walk-in closet(s); Window treatments; Insulated windows; Shades
• Laundry & utility: Laundry area in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.4% 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: 101 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($2k loan paydown + $10k appreciation (3.9% local appreciation)).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Recommended offer $234,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 1.10% ✓
• Cap rate: 7.28%
• Cash-on-cash: 3.54%
• DSCR: 1.16
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.80×
• Total profit: $55,737
• Equity at exit: $125,469

10-year hold

• IRR: 14.6%
• Equity multiple: 3.37×
• Total profit: $165,665
• Equity at exit: $204,236

Cash invested: $69,972 (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 34762

• Home prices YoY: 1.1%
• Active inventory: 101
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,743 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$342 /mo · $4,107/yr
• Insurance: −$104
• HOA: −$204
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $206

Break-even live

Break-even rent $2,482

Max offer price $249,900

Occupancy floor 87%

Sensitivity live

Price	-10% $348	-5% $277	+0% $206	+5% $135	+10% $65
Rent	-10% $-11	-5% $98	+0% $206	+5% $315	+10% $423
Rate	-1.0pp $332	-0.5pp $270	base $206	+0.5pp $141	+1.0pp $76

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7548 Kuenher Ct The Villages, FL	3.0	2.0	1440	$2,400	$1.67	24d	1	0.28mi
7181 Fay Ct The Villages, FL	2.0	2.0	1175	$4,800	$4.09	24d	1	1.25mi
7185 Denver Ave The Villages, FL	3.0	2.0	1440	$1,950	$1.35	24d	1	1.29mi

HOA detail

• Monthly dues: $204 · $2,448/yr

Listing history 17 events

1. 2026-06-21
   days on market $249,900 Active 81 DOM
2. 2026-06-19
   price $249,900 Active 78 DOM
3. 2026-06-18
   days on market $265,500 Active 78 DOM
4. 2026-06-17
   days on market $265,500 Active 77 DOM
5. 2026-06-16
   days on market $265,500 Active 76 DOM
6. 2026-06-15
   days on market $265,500 Active 75 DOM
7. 2026-06-13
   days on market $265,500 Active 73 DOM
8. 2026-06-09
   days on market $265,500 Active 69 DOM
9. 2026-06-08
   days on market $265,500 Active 68 DOM
10. 2026-06-07
    days on market $265,500 Active 67 DOM
11. 2026-06-04
    days on market $265,500 Active 64 DOM
12. 2026-06-03
    days on market $265,500 Active 63 DOM
13. 2026-06-02
    pricedays on market $265,500 Active 62 DOM
14. 2026-06-01
    days on market $279,900 Active 61 DOM
15. 2026-05-31
    days on market $279,900 Active 60 DOM
16. 2026-04-12
    price $279,900
17. 2026-04-01
    listed $290,000 Active

ⓘ 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: $4,107 · $342/mo
• Projected year-2 tax: $4,107 · $342/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $32,917
• − Mortgage interest: −$13,998
• − Property taxes: −$4,107
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,633
• − Management: −$2,633
• − HOA: −$2,448
• − Depreciation: −$7,270
• Taxable loss: −$1,422
• Est. tax savings @ 24.0%: +$341
• After-tax cash flow: $2,815/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This 2023 Opal model patio villa is in excellent condition with modern design and quality craftsmanship. It's move-in ready with minimal maintenance required.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal and value
• Rental Clean gutters — Keeps property in good condition for tenants

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal and value ↑
• Rental Clean gutters — Keeps property in good condition for tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• City population: 70,232
• Population (ZIP): 580

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Two or more races 16% Black 12%
• Hispanic origin (detail): Cuban 13%
• Foreign-born: 13% · Canada
• Languages at home: 82% English-only · Spanish 18%

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: ▲ 3.92%
• Current HPI: 365.7475
• Rent YoY: —
• Metro: —
• 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

-3.5% since first listed

2 events — show timeline

• 2026-04-12 Price Changed $279,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-01 Listed $290,000 Stellar MLS as Distributed by MLS Grid

Property tax history

-26.8%/yr

Latest (2025): $4,107 · -26.8% YoY. Source: county tax records.