1124 Bluegrass Dr · Groveland, FL 34736

$295,500

3 bd · 2.0 ba · 1,942 sqft · SingleFamily public records · 110 Days on market

Built 2006 5,750 sqft lot Est $359k · 18% under $36/mo HOA · 2% 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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Schools +4.2/10.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home ready to move into! This is a great floor plan with formal living and dining room PLUS a large family room! The large kitchen separates the formal rooms from the family rooms, and has TONS of counter space and an island workcenter! Inside laundry room with washer and dryer included! The kitchen comes well equipped with all appliances! Great location just north of Highway 50 with easy access to the Florida Turnpike, Highways 50,33,19 and 27! Very well maintained home and a breeeze to move into! Use it as your primary residence, a second home or even a rental! 2 car garage attached, nice flat rear yard!

Key facts

• Low hoa fees
• Open concept kitchen
• Primary suite

Tags

• MOVE IN READY
• OPEN CONCEPT KITCHEN
• PRIMARY SUITE
• EN SUITE BATH
• LARGE GARDEN TUB
• LOW HOA FEES

Property features AI

Finance

• Other: Total living area approximately 1,942 square feet
• Financial info: Lease restrictions apply
• HOA & community: HOA managed by a specialty management company; HOA required — $440 annually ($36.67/month); Street lights; Cats and dogs allowed

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available and connected; Broadband/high-speed internet available
• Home design: Single-family residence; Planned Unit Development (PUD); One story; Home faces north; Homestead exempt
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built on lot of about 0.13 acre
• Exterior features: Sidewalk; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Kitchen/family room combo; Living room/dining room combo; Walk-in closets
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $296k.

Deal economics

• At list price, monthly cash flow is $-47 ($-568/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (23.6% below list).
• Recommended offer: $226k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.0% in Groveland — 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 70/100 on livability (#416 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A-, crime B+; Watch: schools C-, 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.
• Market conditions: Rents rising (+1.7%/yr); 590 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $9k 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 110 days — a 9% lower offer ($269k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $112k; list at $296k implies a 164% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,650 (23.6% 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 110 days. Have you received any prior offers? Is the seller open to a 24% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.76% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.69%
• DSCR: 0.97
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $359,270
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
222 Bella Way	0.19mi	4/2.0 (+1)	1,840 (-5%)	1mo	$345,000	$188	77
2073 Newtown Rd	0.04mi	4/2.0 (+1)	1,808 (-7%)	14mo	$325,000	$180	70
1096 Bluegrass Dr	0.13mi	3/2.0	1,842 (-5%)	22mo	$340,000	$185	67
116 Islabella Way	0.22mi	3/2.0	1,695 (-13%)	2mo	$370,000	$218	67
2038 Newtown Rd	0.18mi	4/2.0 (+1)	1,788 (-8%)	22mo	$320,000	$179	55
5954 Churchill Square Way	0.45mi	4/2.0 (+1)	1,867 (-4%)	15mo	$374,999	$201	55
1140 Stratton Ave	0.67mi	3/2.0	1,870 (-4%)	10mo	$329,900	$176	54
1154 Stratton Ave	0.75mi	3/2.0	1,825 (-6%)	10mo	$330,000	$181	47

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 · 1.67% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.35×
• Total profit: $-53,975
• Equity at exit: $44,060

10-year hold

• IRR: -14.0%
• Equity multiple: 0.24×
• Total profit: $-63,181
• Equity at exit: $25,549

Cash invested: $82,740 (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 34736

• Home prices YoY: -22.5%
• Rents YoY: 1.7%
• Active inventory: 590
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,256 high
• Mortgage (P&I): −$1,550
• Tax from tax record: −$121 /mo · $1,455/yr
• Insurance: −$123
• HOA: −$36
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $-47

Break-even live

Break-even rent $2,316

Max offer price $287,137

Occupancy floor 97%

Sensitivity live

Price	-10% $120	-5% $36	+0% $-47	+5% $-131	+10% $-215
Rent	-10% $-226	-5% $-136	+0% $-47	+5% $42	+10% $131
Rate	-1.0pp $101	-0.5pp $28	base $-47	+0.5pp $-124	+1.0pp $-202

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: $73,875
• Closing costs: $8,865
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2076 Newtown Rd Groveland, FL	3.0	2.0	1676	$1,850	$1.10	25d	1	0.06mi
2055 Newtown Rd Groveland, FL	3.0	2.0	1808	$1,995	$1.10	25d	1	0.07mi
1063 Bluegrass Dr Groveland, FL	4.0	2.0	2182	$2,500	$1.15	25d	1	0.30mi
165 Quail Oaks Cir Groveland, FL	3.0	2.0	1410	$2,000	$1.42	21d	1	0.76mi
6376 Green Bud Dr Groveland, FL	3.0	2.0	1542	$2,399	$1.56	6d	1	0.77mi
2009 Sloans Outlook Dr Groveland, FL	3.0	2.0	1670	$2,250	$1.35	21d	1	0.85mi
6337 Chorus Dr Groveland, FL	3.0	2.0	1772	$2,250	$1.27	25d	1	0.93mi
6612 Tempo Way Mascotte, FL	3.0	2.0	1990	$2,600	$1.31	0d	1	1.03mi
6612 Tempo Way Mascotte, FL	3.0	2.0	1990	$2,600	$1.31	6d	1	1.03mi
187 Hydra Way Groveland, FL	4.0	3.0	2542	$2,699	$1.06	25d	1	1.06mi
201 Sangmon Ct Groveland, FL	3.0	2.5	1920	$2,299	$1.20	6d	1	1.11mi
338 Ridgemark Ave Groveland, FL	4.0	2.0	1824	$2,300	$1.26	6d	1	1.30mi
7201 Big Cedar Aly Groveland, FL	3.0	2.5	1500	$2,000	$1.33	25d	1	1.36mi

HOA detail

• Monthly dues: $36 · $432/yr

Listing history 27 events

1. 2026-06-21
   statusdays on market $295,500 Pending 110 DOM
2. 2026-06-18
   days on market $295,500 Active 109 DOM
3. 2026-06-17
   days on market $295,500 Active 108 DOM
4. 2026-06-16
   days on market $295,500 Active 107 DOM
5. 2026-06-15
   days on market $295,500 Active 106 DOM
6. 2026-06-13
   days on market $295,500 Active 104 DOM
7. 2026-06-09
   days on market $295,500 Active 100 DOM
8. 2026-06-08
   days on market $295,500 Active 99 DOM
9. 2026-06-07
   days on market $295,500 Active 98 DOM
10. 2026-06-04
    days on market $295,500 Active 95 DOM
11. 2026-06-03
    days on market $295,500 Active 94 DOM
12. 2026-06-02
    days on market $295,500 Active 93 DOM
13. 2026-06-01
    days on market $295,500 Active 92 DOM
14. 2026-05-31
    days on market $295,500 Active 91 DOM
15. 2026-05-12
    price $295,500
16. 2026-04-28
    status Active
17. 2026-04-24
    status Pending
18. 2026-04-07
    status Active
19. 2026-04-03
    status Pending
20. 2026-03-14
    price $299,500
21. 2026-02-20
    listed $310,000 Active
22. 2012-12-07
    soldstatus $112,000
23. 2012-11-26
    soldstatus $112,000 613-char remark

    Show marketing remark (613 chars)

    Home ready to move into! This is a great floor plan with formal living and dining room PLUS a large family room! The large kitchen separates the formal rooms from the family rooms, and has TONS of counter space and an island workcenter! Inside laundry room with washer and dryer included! The kitchen comes well equipped with all appliances! Great location just north of Highway 50 with easy access to the Florida Turnpike, Highways 50,33,19 and 27! Very well maintained home and a breeeze to move into! Use it as your primary residence, a second home or even a rental! 2 car garage attached, nice flat rear yard!

24. 2012-09-04
    listed $119,900 613-char remark

    Show marketing remark (613 chars)

    Home ready to move into! This is a great floor plan with formal living and dining room PLUS a large family room! The large kitchen separates the formal rooms from the family rooms, and has TONS of counter space and an island workcenter! Inside laundry room with washer and dryer included! The kitchen comes well equipped with all appliances! Great location just north of Highway 50 with easy access to the Florida Turnpike, Highways 50,33,19 and 27! Very well maintained home and a breeeze to move into! Use it as your primary residence, a second home or even a rental! 2 car garage attached, nice flat rear yard!

25. 2009-08-13
    soldstatus $97,000
26. 2009-08-11
    soldstatus $97,000 254-char remark

    Show marketing remark (254 chars)

    NOT A SHORT SALE! Like New Condition 3/2 Over 1900 Square Feet , Built in 2006 , 2 Car Garage, Covered Porch, Alarm System, Applicances Inluded, Range, Hood, Side by Side Refrigertor With ice/water, Diswasher, Wahser and Dryer, Large Kitchen with Island,

27. 2009-07-20
    listed $102,900 254-char remark

    Show marketing remark (254 chars)

    NOT A SHORT SALE! Like New Condition 3/2 Over 1900 Square Feet , Built in 2006 , 2 Car Garage, Covered Porch, Alarm System, Applicances Inluded, Range, Hood, Side by Side Refrigertor With ice/water, Diswasher, Wahser and Dryer, Large Kitchen with Island,

ⓘ 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: $1,455 · $121/mo
• Projected year-2 tax: $2,453 · $204/mo
• Expected delta: +$998/yr (+$83/mo · 68.6%)

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 Severe 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,078
• − Mortgage interest: −$16,553
• − Property taxes: −$1,455
• − Insurance: −$1,478
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − HOA: −$432
• − Depreciation: −$8,596
• Taxable loss: −$5,768
• Est. tax savings @ 24.0%: +$1,384
• After-tax cash flow: $816/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 — Groveland

• Score: 70/100
• State rank: #416
• US rank: #7397

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Groveland, FL
• County: Lake County · 364,602 people
• City population: 28,001
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 28,001
• Household income: $90,545
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 216.0

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 0.65)
• Race & ethnicity: White 52% Hispanic / Latino 25% Two or more races 17% Black 15% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 15% Cuban 2%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 1%
• Foreign-born: 13% · Canada, Guatemala
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 2% 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: ▼ -77.23%
• Current HPI: 265.3457
• Rent YoY: ▲ 1.67%
• 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

+187.2% since first listed

13 events — show timeline

• 2026-05-12 Price Changed $295,500 Stellar MLS as Distributed by MLS Grid
• 2026-04-28 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-14 Price Changed $299,500 Stellar MLS as Distributed by MLS Grid
• 2026-02-20 Listed $310,000 Stellar MLS as Distributed by MLS Grid
• 2012-12-07 Sold (Public Records) $112,000 Public Records
• 2012-11-26 Sold (MLS) $112,000 Stellar MLS as Distributed by MLS Grid
• 2012-09-04 Listed $119,900 Stellar MLS as Distributed by MLS Grid
• 2009-08-13 Sold (Public Records) $97,000 Public Records
• 2009-08-11 Sold (MLS) $97,000 Stellar MLS as Distributed by MLS Grid
• 2009-07-20 Listed $102,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2025): $1,455 · +7.8% YoY. Source: county tax records.