721 Foster Ave · Winter Garden, FL 34787

$699,000

5 bd · 3.0 ba · 2,197 sqft · MultiFamily public records · 104 Days on market

Built 1960 0.42 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 +13.2/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• DSCR +4.0/10.0
• 1% rule +3.3/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

ATTENTION INVESTORS!!! Great income property in Winter Garden. Walking distance to Plant St shopping and restaurants. Fully occupied with month to month tenants all paying on time at under market rent. This is a true tri-plex on an over-sized lot. One unit has been completely renovated and a new roof was installed across all 3 units in 2015. Individually metered for power and on city water and city sewer. Tenants pay for utilities and yard maintenance. The neighborhood is close to the Winter Garden Veterans Memorial Park which includes playground, tennis courts, softball fields, and more. The location of this property helps to ensure plenty of future appreciation.

Key facts

• Oversized lot
• 0.42 acre lot
• Built 1960

Tags

• FULLY OCCUPIED TRIPLEX
• OVERSIZED LOT
• THREE RENOVATED UNITS
• CONNECTED TO CITY WATER
• CONNECTED TO CITY SEWER

Property features AI

Finance

• Other: Property zoned R-2; Total parcel size about 0.42 acres (approximately 1/4 to less than 1/2 acre); Total number of buildings: 1; Calculated list price per sq ft (from listing): $322.29
• Financial info: Annual net income (reported): $50,000; Pro forma rents listed: two 2-bedroom units at $1,350 each; one 3-bedroom unit at $1,500
• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Residential income property (triplex)
• Construction: Block construction; Shingle roof; Slab foundation; Built area: approximately 2,293 sq ft living area (2,389 sq ft building area)
• Exterior features: Oversized lot; Paved road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 7 bedrooms; Unit breakdown: two 2-bedroom units and one 3-bedroom unit
• Bathrooms: Three 1-bath units (each unit has 1 bathroom)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Laundry closet and dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $-13 ($-153/yr) — negative. Per door: $-4/mo.
• To cash-flow at today's rent, offer at most $697k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $579k (17.2% below list).
• Recommended offer: $579k (17.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.9% in Winter Garden — 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 84/100 on livability (#41 in FL, #804 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.1%/yr); 1581 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• At $5,789/mo this rent would consume 58% of the median local household income ($120k/yr) (locally 2682% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($636k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago; this cycle's ask has dropped $51k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $272k; list at $699k implies a 157% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $578,900 (17.2% 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 104 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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?
10. 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.
11. 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.
12. 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: 0.83% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.08%
• DSCR: 1.00
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.13% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.36×
• Total profit: $-124,836
• Equity at exit: $104,223

10-year hold

• IRR: -14.8%
• Equity multiple: 0.22×
• Total profit: $-152,267
• Equity at exit: $60,437

Cash invested: $195,720 (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 34787

• Rents YoY: 1.1%
• Active inventory: 1581
• Price-to-rent: 30.2×

Monthly cashflow live

• Estimated rent: $5,789 medium
• Mortgage (P&I): −$3,666
• Tax from tax record: −$629 /mo · $7,550/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,216
• Net cashflow: $-13

Break-even live

Break-even rent $5,805

Max offer price $696,750

Occupancy floor 95%

Sensitivity live

Price	-10% $383	-5% $185	+0% $-13	+5% $-211	+10% $-408
Rent	-10% $-470	-5% $-241	+0% $-13	+5% $216	+10% $445
Rate	-1.0pp $339	-0.5pp $165	base $-13	+0.5pp $-194	+1.0pp $-378

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,790
Total (3 units)			$5,789

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
182 Roper Dr Winter Garden, FL	4.0	3.0	2300	$3,500	$1.52	22d	1	1.02mi

Listing history 42 events

1. 2026-06-18
   days on market $699,000 Active 104 DOM
2. 2026-06-17
   price $699,000 Active 103 DOM
3. 2026-06-17
   days on market $709,000 Active 103 DOM
4. 2026-06-16
   days on market $709,000 Active 102 DOM
5. 2026-06-15
   days on market $709,000 Active 101 DOM
6. 2026-06-13
   days on market $709,000 Active 99 DOM
7. 2026-06-13
   days on market $709,000 Active 98 DOM
8. 2026-06-09
   days on market $709,000 Active 95 DOM
9. 2026-06-08
   days on market $709,000 Active 94 DOM
10. 2026-06-07
    days on market $709,000 Active 93 DOM
11. 2026-06-04
    pricedays on market $709,000 Active 90 DOM
12. 2026-06-03
    days on market $719,000 Active 89 DOM
13. 2026-06-02
    days on market $719,000 Active 88 DOM
14. 2026-06-02
    days on market $719,000 Active 87 DOM
15. 2026-05-31
    days on market $719,000 Active 86 DOM
16. 2026-05-13
    price $719,000
17. 2026-04-10
    price $739,000
18. 2026-03-06
    listed $750,000 Active
19. 2020-03-09
    soldstatus $272,000
20. 2020-03-04
    soldstatus $272,000 Sold 672-char remark

    Show marketing remark (672 chars)

    ATTENTION INVESTORS!!! Great income property in Winter Garden. Walking distance to Plant St shopping and restaurants. Fully occupied with month to month tenants all paying on time at under market rent. This is a true tri-plex on an over-sized lot. One unit has been completely renovated and a new roof was installed across all 3 units in 2015. Individually metered for power and on city water and city sewer. Tenants pay for utilities and yard maintenance. The neighborhood is close to the Winter Garden Veterans Memorial Park which includes playground, tennis courts, softball fields, and more. The location of this property helps to ensure plenty of future appreciation.

21. 2020-01-09
    status Pending 672-char remark

    Show marketing remark (672 chars)

    ATTENTION INVESTORS!!! Great income property in Winter Garden. Walking distance to Plant St shopping and restaurants. Fully occupied with month to month tenants all paying on time at under market rent. This is a true tri-plex on an over-sized lot. One unit has been completely renovated and a new roof was installed across all 3 units in 2015. Individually metered for power and on city water and city sewer. Tenants pay for utilities and yard maintenance. The neighborhood is close to the Winter Garden Veterans Memorial Park which includes playground, tennis courts, softball fields, and more. The location of this property helps to ensure plenty of future appreciation.

22. 2019-12-02
    listed $287,000 Active 672-char remark

    Show marketing remark (672 chars)

    ATTENTION INVESTORS!!! Great income property in Winter Garden. Walking distance to Plant St shopping and restaurants. Fully occupied with month to month tenants all paying on time at under market rent. This is a true tri-plex on an over-sized lot. One unit has been completely renovated and a new roof was installed across all 3 units in 2015. Individually metered for power and on city water and city sewer. Tenants pay for utilities and yard maintenance. The neighborhood is close to the Winter Garden Veterans Memorial Park which includes playground, tennis courts, softball fields, and more. The location of this property helps to ensure plenty of future appreciation.

23. 2019-08-02
    soldstatus $200,000
24. 2017-12-13
    status Pending
25. 2017-12-12
    historical
26. 2017-12-05
    status Active
27. 2017-10-31
    status Pending
28. 2017-10-27
    listed $225,000 Active
29. 2017-04-18
    status Pending
30. 2017-04-12
    historical
31. 2017-04-12
    historical
32. 2017-04-05
    status Active
33. 2017-03-14
    status Pending
34. 2017-01-24
    listed $250,000 Active
35. 2016-07-26
    historical
36. 2016-02-11
    price $265,000
37. 2016-02-04
    listed $275,000 Active
38. 2005-10-28
    soldstatus $178,000
39. 2005-10-17
    soldstatus $178,000
40. 2005-06-06
    listed $179,900
41. 2005-06-06
    soldstatus $100,000
42. 1988-06-01
    soldstatus $71,000

ⓘ 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: $7,550 · $629/mo
• Projected year-2 tax: $7,550 · $629/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $69,468
• − Mortgage interest: −$39,155
• − Property taxes: −$7,550
• − Insurance: −$3,495
• − Repairs & maintenance: −$5,557
• − Management: −$5,557
• − Depreciation: −$20,335
• Taxable loss: −$12,181
• Est. tax savings @ 24.0%: +$2,924
• After-tax cash flow: $2,771/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: Orange
• NCES district ID: 1201440
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $49,350
• Composite: 41.47/100
• National rank: #3461
• State rank: #43 of 73 in FL

Livability — Winter Garden

• Score: 84/100
• State rank: #41
• US rank: #804

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Orange County · 1,471,359 people
• City population: 101,441
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 101,441
• Household income: $120,365
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 2682.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 1,618,226 people
• By 2030: 1,787,404 · +10.5%
• By 2040: 2,125,621 · +31.4%
• By 2050: 2,454,016 · +51.6%
• By 2075: 3,173,711 · +96.1%
• By 2100: 3,607,781 · +122.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 53% Hispanic / Latino 23% Two or more races 21% Black 9% Asian 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 7% Cuban 1%
• Common ancestry: Estonian 4% Romanian 2% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 74% English-only · Spanish 13% Other Indo-European 8% Vietnamese 1%

Political lean MEDSL · Orange

• 2024 margin: D (+13.6) · D 56.1% · R 42.5% · Other 1.3%
• 2008→2024 swing: -5.0pp toward R · 2008: 18.6pp · 2024: 13.6pp
• All cycles: 2024: D+13.6 2020: D+23.1 2016: D+24.6 2012: D+18.2 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -189.49%
• Current HPI: 296.8866
• Rent YoY: ▲ 1.13%
• 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

+912.7% since first listed

27 events — show timeline

• 2026-05-13 Price Changed $719,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $739,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-06 Listed $750,000 Stellar MLS as Distributed by MLS Grid
• 2020-03-09 Sold (Public Records) $272,000 Public Records
• 2020-03-04 Sold (MLS) $272,000 Stellar MLS as Distributed by MLS Grid
• 2020-01-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-12-02 Listed $287,000 Stellar MLS as Distributed by MLS Grid
• 2019-08-02 Sold (Public Records) $200,000 Public Records
• 2017-12-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-12-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-12-05 Relisted — Stellar MLS as Distributed by MLS Grid
• 2017-10-31 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-10-27 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2017-04-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-04-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-04-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-04-05 Relisted — Stellar MLS as Distributed by MLS Grid
• 2017-03-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-01-24 Listed $250,000 Stellar MLS as Distributed by MLS Grid
• 2016-07-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-02-11 Price Changed $265,000 Stellar MLS as Distributed by MLS Grid
• 2016-02-04 Listed $275,000 Stellar MLS as Distributed by MLS Grid
• 2005-10-28 Sold (Public Records) $178,000 Public Records
• 2005-10-17 Sold (MLS) $178,000 Stellar MLS as Distributed by MLS Grid
• 2005-06-06 Sold (Public Records) $100,000 Public Records
• 2005-06-06 Listed $179,900 Stellar MLS as Distributed by MLS Grid
• 1988-06-01 Sold (Public Records) $71,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $7,550 · +11.6% YoY. Source: county tax records.