192 Palm Meadows Dr · Eustis, FL 32726

$98,500

2 bd · 2.0 ba · 1,248 sqft · Condo public records · 245 Days on market

Built 1978 $243/mo HOA · 16% of rent

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very active 55+ Commuirty. Canal Front with private dock. Large Screend Porch. overlooking canal. Inside Utility. Outside Utility has been finished into a nice work shop. Home has been routinely maintained with newer heat pump and repiped with pvc. Well maintained, Light oak panelling. Carpet and vinyl could use some update. Large screened porch overlook canal.

Key facts

• Community clubhouse
• Waterfront community
• Canal access

Tags

• WATERFRONT COMMUNITY
• CANAL ACCESS
• BONUS AREA
• SCREENED IN FLORIDA ROOM
• COMMUNITY CLUBHOUSE

Property features AI

Finance

• Other: Association contact: Amy Atterberry; Total building area and living area recorded in public records
• Financial info: Lease restrictions apply
• HOA & community: Has HOA; monthly fee $243; Association amenities: clubhouse, pool, recreation facilities; Association fee includes pool, escrow reserves, management, recreational facilities, sewer, trash, water; Buyer/association approval required; Deed restrictions; Golf carts allowed; Community mailbox; Senior community; Pets not allowed

Exterior

• Parking: Covered parking; Driveway; Golf cart parking; Guest parking; Open parking; Parking pad; 2-space carport
• Utilities: Private water source; Public sewer; Broadband/high-speed internet available; Cable connected; Electricity connected; Sewer connected; Water connected
• Home design: Manufactured double-wide home; One story; Faces north; On waterfront (Trout Lake) with canal view and canal freshwater access
• Construction: Metal frame construction; Metal siding; Vinyl siding; Roof over; Crawlspace foundation; Built as a manufactured home
• Exterior features: Covered patio/deck/porch; Deck; Covered rear porch; Screened porch; Awnings; French doors; Exterior lighting; Rain gutters; Storage; Shed(s); Workshop; Private waterfront access (canal); Seawall

Interior

• Kitchen: Built-in oven; Cooktop; Range hood; Microwave; Dishwasher; Refrigerator; Eat-in kitchen
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crown molding; Eat-in kitchen; Living room/dining room combo; Open floorplan; Vaulted ceilings; Window treatments
• Laundry & utility: Washer and dryer included; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $98k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.5% in Eustis — 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 73/100 on livability (#309 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, schools 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: Rents rising (+3.2%/yr); 305 active listings in the ZIP; 15 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $681 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $31k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $98k implies a 56% 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; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.58% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.45%
• DSCR: 1.78
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.2% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.36×
• Total profit: $10,011
• Equity at exit: $14,687

10-year hold

• IRR: 18.6%
• Equity multiple: 2.57×
• Total profit: $43,368
• Equity at exit: $8,516

Cash invested: $27,580 (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 32726

• Home prices YoY: -21.3%
• Rents YoY: 3.2%
• Active inventory: 305
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,557 high
• Mortgage (P&I): −$517
• Tax from tax record: −$28 /mo · $340/yr
• Insurance: −$41
• HOA: −$243
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $401

Break-even live

Break-even rent $1,049

Max offer price $98,500

Occupancy floor 69%

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: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
77 Wildwood Ln Eustis, FL	2.0	1.0	720	$1,197	$1.66	23d	1	0.12mi
1799 N County Road 19A Eustis, FL	1.0–3.0	1.0–2.0	950	$1,600	$1.68	1d	1	0.37mi
993 Foote St Eustis, FL	2.0	1.0	1000	$1,400	$1.40	23d	1	0.67mi
923 N Grove St Eustis, FL	3.0	2.0	1200	$1,920	$1.60	23d	1	0.72mi
2486 Hallow Garden Rd Eustis, FL	3.0	2.0	1429	$2,400	$1.68	3d	1	0.88mi
623 N Bay St Unit 11 Eustis, FL	2.0	2.0	1200	$1,300	$1.08	10d	1	0.99mi
623 N Bay St Unit 4 Eustis, FL	1.0	1.0	900	$1,150	$1.28	10d	1	0.99mi
612 Kensington St Eustis, FL	3.0	1.5	1400	$1,900	$1.36	23d	1	1.17mi
204 E Gottsche Ave Eustis, FL	2.0	2.0	1125	$1,525	$1.36	23d	3	1.17mi
100 N Dewey St Eustis, FL	1.0	1.5	997	$1,450	$1.45	23d	1	1.32mi
925 E McDonald Ave Eustis, FL	2.0	2.0	867	$1,550	$1.79	23d	1	1.37mi
1147 E McDonald Ave Unit 201 Eustis, FL	1.0	1.0	720	$1,150	$1.60	23d	1	1.43mi
1651 N Country Rd Eustis, FL	1.0–2.0	1.0–2.0	785	$1,424	$1.81	23d	1	1.44mi
116 Dewitt Ct Unit 116 Eustis, FL	3.0	2.0	1296	$1,850	$1.43	17d	1	1.49mi
116 Dewitt Ct Eustis, FL	3.0	2.0	1299	$1,890	$1.45	23d	1	1.49mi

HOA detail condo

• Monthly dues: $243 · $2,916/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $98,500 Active 245 DOM
2. 2026-06-17
   days on market $98,500 Active 244 DOM
3. 2026-06-16
   days on market $98,500 Active 243 DOM
4. 2026-06-15
   days on market $98,500 Active 242 DOM
5. 2026-06-13
   days on market $98,500 Active 240 DOM
6. 2026-06-09
   days on market $98,500 Active 236 DOM
7. 2026-06-08
   days on market $98,500 Active 235 DOM
8. 2026-06-07
   days on market $98,500 Active 234 DOM
9. 2026-06-04
   days on market $98,500 Active 231 DOM
10. 2026-06-03
    days on market $98,500 Active 230 DOM
11. 2026-06-02
    days on market $98,500 Active 229 DOM
12. 2026-06-02
    days on market $98,500 Active 228 DOM
13. 2026-05-31
    days on market $98,500 Active 227 DOM
14. 2026-05-01
    status Pending
15. 2026-04-22
    price $98,500
16. 2026-03-19
    price $119,000
17. 2025-11-05
    price $124,500
18. 2025-09-18
    listed $129,900 Active
19. 2006-10-09
    listed $66,500
20. 2005-06-10
    soldstatus $63,000 363-char remark

    Show marketing remark (363 chars)

    Very active 55+ Commuirty. Canal Front with private dock. Large Screend Porch. overlooking canal. Inside Utility. Outside Utility has been finished into a nice work shop. Home has been routinely maintained with newer heat pump and repiped with pvc. Well maintained, Light oak panelling. Carpet and vinyl could use some update. Large screened porch overlook canal.

21. 2005-02-17
    listed $66,500 363-char remark

    Show marketing remark (363 chars)

    Very active 55+ Commuirty. Canal Front with private dock. Large Screend Porch. overlooking canal. Inside Utility. Outside Utility has been finished into a nice work shop. Home has been routinely maintained with newer heat pump and repiped with pvc. Well maintained, Light oak panelling. Carpet and vinyl could use some update. Large screened porch overlook canal.

ⓘ 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: $340 · $28/mo
• Projected year-2 tax: $818 · $68/mo
• Expected delta: +$477/yr (+$40/mo · 140.2%)

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 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: $18,684
• − Mortgage interest: −$5,518
• − Property taxes: −$340
• − Insurance: −$492
• − Repairs & maintenance: −$1,495
• − Management: −$1,495
• − HOA: −$2,916
• − Depreciation: −$2,865
• Taxable income: $3,562
• Est. tax owed @ 24.0%: −$855
• After-tax cash flow: $3,958/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 — Eustis

• Score: 73/100
• State rank: #309
• US rank: #5286

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eustis, FL
• County: Lake County · 364,602 people
• City population: 24,715
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 24,715
• Household income: $63,152
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 584.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Black 19% Hispanic / Latino 17% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 4%
• Common ancestry: Hispanic 2% Romanian 2% Lithuanian 2%
• Foreign-born: 14% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 10% French/Haitian/Cajun 3% Other Indo-European 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: ▼ -88.12%
• Current HPI: 325.4692
• Rent YoY: ▲ 3.20%
• 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

+48.1% since first listed

8 events — show timeline

• 2026-05-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $98,500 Stellar MLS as Distributed by MLS Grid
• 2026-03-19 Price Changed $119,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-05 Price Changed $124,500 Stellar MLS as Distributed by MLS Grid
• 2025-09-18 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2006-10-09 Listed $66,500 Stellar MLS as Distributed by MLS Grid
• 2005-06-10 Sold (MLS) $63,000 Stellar MLS as Distributed by MLS Grid
• 2005-02-17 Listed $66,500 Stellar MLS as Distributed by MLS Grid

Property tax history

-5.3%/yr

Latest (2025): $340 · +2.1% YoY. Source: county tax records.