4328 Edgewater Dr Unit C201 · Fairview Shores, FL 32804

$150,000

2 bd · 1.0 ba · 832 sqft · Condo public records · 41 Days on market

Built 1966 $400/mo HOA · 23% 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 +10.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• DSCR +2.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Lake Fairview Condominiums offers lakefront living with community boat dock, pool, fishing, boating, skiing, and direct access across the lake to Grills Lakeside Seafood Deck & Tiki Bar. Conveniently located just minutes from College Park, Downtown Winter Park, and Downtown Orlando, this affordable corner-unit condo combines location, lifestyle, and value. The unit features fresh paint and new flooring throughout and is move-in ready, while the original kitchen and bath provide an excellent opportunity to update over time to your own style and preferences. All major systems are currently operational, making this an ideal option for first-time bu

Key facts

• $400 HOA
• Community pool
• Built 1966

Property features AI

Finance

• Other: No lease restrictions; Unfurnished; Homestead exempt
• Financial info: Total monthly fees $400; total annual fees $4,800
• HOA & community: Monthly condo fee $400 (includes pool); Association contact: Aida Gonzales; Community amenities include clubhouse, community mailbox, and pool

Exterior

• Parking: Off-street open parking
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available and connected; High-speed internet available; Phone available
• Home design: Residential condominium; 2-story building; unit located on second floor; Faces west
• Construction: Block construction; Shingle roof; Slab foundation; Building identified as C
• Exterior features: Balcony; Deck around pool

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms (unit on 2nd floor)
• Flooring: Concrete flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Open floor plan with living room/dining room combo; Thermostat
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (8.5% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $137k (8.5% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 3.6% in Fairview Shores — 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 (#36 in FL, #715 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: 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.
• Zoned schools: Killarney Elementary (math 37% / reading 32%, grade F, #1,709 of 2,144 statewide, top 81%, 330 students, 66% FRL); Edgewater High (math 14% / reading 46%, grade F, #441 of 667 statewide, top 67%, 2,059 students, 52% FRL) — zoned schools at 59% FRL track the district average.
• Zoned-school proficiency averages 32% at this address vs 48% district-wide (-16 pts) — the specific schools serving this property underperform the Orange average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 211 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 41 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $137,240 (8.5% 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 41 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 1.14% ✓
• Cap rate: 5.59%
• Cash-on-cash: -2.52%
• DSCR: 0.89
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -24.1%
• Equity multiple: 0.20×
• Total profit: $-33,627
• Equity at exit: $22,365

10-year hold

• IRR: -32.5%
• Equity multiple: -0.21×
• Total profit: $-50,970
• Equity at exit: $12,969

Cash invested: $42,000 (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 32804

• Rents YoY: 0.6%
• Active inventory: 211
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,707 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$400
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-88

Break-even live

Break-even rent $1,819

Max offer price $137,240

Occupancy floor —

Sensitivity live

Price	-10% $15	-5% $-36	+0% $-88	+5% $-140	+10% $-192
Rent	-10% $-223	-5% $-156	+0% $-88	+5% $-21	+10% $47
Rate	-1.0pp $-13	-0.5pp $-50	base $-88	+0.5pp $-127	+1.0pp $-167

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4418 Eli St Orlando, FL	2.0	1.0	825	$1,600	$1.94	25d	1	0.49mi
5003 Adanson St Orlando, FL	2.0	2.0	875	$2,500	$2.86	25d	1	0.51mi
1709 Fairview Shores Dr Orlando, FL	1.0	1.0	720	$1,550	$2.15	16d	1	0.60mi
4713 Thorpe Ave Orlando, FL	2.0	2.0	1000	$1,950	$1.95	25d	1	0.65mi
1051 Lee Rd Orlando, FL	1.0–3.0	1.0–2.0	934	$1,284	$1.38	21d	1	0.73mi
5258 Davisson Ave Unit A Orlando, FL	1.0	1.0	540	$1,000	$1.85	25d	1	0.85mi
5236 Davisson Ave Orlando, FL	1.0	1.0	540	$1,095	$2.03	25d	1	0.86mi
1700 Van Ness St Unit 5 Orlando, FL	2.0	1.0	920	$1,899	$2.06	21d	1	0.90mi
1700 Van Ness St Orlando, FL	2.0	1.0	920	$1,699	$1.85	13d	1	0.90mi
5315 Davisson Ave Orlando, FL	2.0	1.0	831	$1,350	$1.62	25d	1	0.90mi
3323 N Westmoreland Dr Unit 33237 Orlando, FL	1.0	1.0	750	$1,350	$1.80	12d	1	1.04mi
3323 N Westmoreland Dr Unit 9318 Orlando, FL	2.0	1.0	850	$1,550	$1.82	25d	1	1.04mi
2326 Wellington Blvd Winter Park, FL	1.0	1.0	755	$1,024	$1.36	25d	1	1.05mi
2500 Lee Rd Winter Park, FL	1.0–2.0	1.0–2.0	800	$1,495	$1.87	8d	3	1.14mi
2500 Lee Rd Winter Park, FL	1.0–2.0	1.0–2.0	800	$1,495	$1.87	25d	2	1.14mi
401 Niblick Way Orlando, FL	2.0	1.0	930	$1,675	$1.80	25d	1	1.20mi
3200 Fairway Ln Unit 2 Orlando, FL	1.0	1.0	700	$1,340	$1.91	5d	1	1.22mi
5547 Kingswood Dr Unit B Orlando, FL	1.0	1.0	700	$1,650	$2.36	25d	1	1.23mi
3034 Fairway Ln Unit A Orlando, FL	1.0	1.0	600	$1,250	$2.08	5d	1	1.28mi
29 W Preston St Orlando, FL	3.0	2.0	1056	$2,999	$2.84	25d	1	1.46mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-16
   statusdays on market $150,000 Pending 41 DOM
2. 2026-06-15
   days on market $150,000 Active 40 DOM
3. 2026-06-13
   days on market $150,000 Active 38 DOM
4. 2026-06-13
   days on market $150,000 Active 37 DOM
5. 2026-06-09
   days on market $150,000 Active 34 DOM
6. 2026-06-08
   days on market $150,000 Active 33 DOM
7. 2026-06-07
   days on market $150,000 Active 32 DOM
8. 2026-06-04
   days on market $150,000 Active 29 DOM
9. 2026-06-03
   days on market $150,000 Active 28 DOM
10. 2026-06-02
    days on market $150,000 Active 27 DOM
11. 2026-06-01
    days on market $150,000 Active 26 DOM
12. 2026-05-31
    days on market $150,000 Active 25 DOM
13. 2026-05-17
    status Active
14. 2026-04-01
    status Pending
15. 2026-03-21
    price $150,000
16. 2026-03-21
    listed $15,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,483
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − HOA: −$4,800
• − Depreciation: −$4,364
• Taxable loss: −$3,361
• Est. tax savings @ 24.0%: +$807
• After-tax cash flow: $-252/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 — Fairview Shores

• Score: 84/100
• State rank: #36
• US rank: #715

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairview Shores, FL
• County: Orange County · 1,471,359 people
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 21,720
• Household income: $113,231
• Rent vs Own: 35.0% rent · 65.0% own
• Severe rent burden: 667.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 15% Two or more races 9% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 3%
• Common ancestry: Romanian 4% Italian 3% Lithuanian 2%
• Foreign-born: 10% · Canada, Jamaica, Vietnam
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 1% German/W. Germanic 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: ▼ -638.18%
• Current HPI: 304.08
• Rent YoY: ▲ 0.63%
• 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

+900.0% since first listed

4 events — show timeline

• 2026-05-17 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-21 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-21 Listed $15,000 Stellar MLS as Distributed by MLS Grid

Property tax history

-1.0%/yr

Latest (2025): $201 · +7.3% YoY. Source: county tax records.