3024 Jessamine Dr · Tavares, FL 32778

$276,990

3 bd · 2.5 ba · 1,451 sqft · Townhouse · 19 Days on market

Built 2026 Excellent condition 2,075 sqft lot $183/mo HOA · 8% 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 +13.9/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• DSCR +4.2/10.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Rent growth +3.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One or more photo(s) has been virtually staged. Under Construction. Stanley Martin is proud to introduce newly constructed townhomes in the vibrant Avalon Park Tavares community, located in the heart of Tavares, Florida. Avalon Park Tavares is a quaint live-work-play community featuring tree-lined streets, waterways, and small-town charm. Stanley Martin Homes offers affordable living and a modern townhome design, blending convenience and style with the timeless appeal of this unique neighborhood. As part of this 155-acre community, homeowners will enjoy retail and recreational spaces focused on the health and well-being of its residents. Nestled within the serene landscape of Lake Hermosa,

Key facts

• Spacious kitchen
• Primary suite
• Open-concept layout

Tags

• NEWLY CONSTRUCTED TOWNHOMES
• MODERN TOWNHOME DESIGN
• OPEN-CONCEPT LAYOUT
• ENERGY-EFFICIENT FEATURES
• SPACIOUS KITCHEN
• PRIMARY SUITE

Property features AI

Finance

• Other: Home warranty included
• Financial info: Total annual fees listed as $2,200; Lease restrictions apply
• HOA & community: HOA managed by Edison Management; Monthly HOA approximately $183.33 (quarterly fee $550); Association fees cover grounds maintenance and pool; Community amenities: pool, playground, trails; Deed restrictions; Pets allowed

Exterior

• Parking: Attached garage (1 car) — 11 x 20; Covered driveway
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Phone available; Sewer connected; Underground utilities; Irrigation equipment
• Home design: Residential townhouse; Attached property; Under construction (projected completion 2026-09-09); Two stories; Southeast facing; Model: Rosalia A; Builder: Stanley Martin Homes
• Construction: Block, stucco and vinyl siding construction; Shingle roof; Slab foundation; New construction
• Exterior features: Covered porch; Covered patio; Lighting; Sidewalk; Cleared and landscaped lot; Paved surfaces

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full baths; 1 half bath
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Eat-in kitchen; Kitchen/family room combo; Living room/dining room combo; Open floorplan; Thermostat; Walk-in closets; Blinds; Double-pane windows; ENERGY STAR qualified windows; Great room; Inside utility
• Laundry & utility: Washer; Dryer; Laundry room on upper level; Inside laundry

🏗️ New construction. The $276,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $261,180.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $277k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $31 ($372/yr) — positive.
• To cash-flow at today's rent, offer at most $267k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (19.9% below list).
• Recommended offer: $222k (19.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.5% in Tavares — 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 76/100 on livability (#220 in FL, #3,464 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, 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.
• Zoned schools: Eustis Elementary School (math 52% / reading 47%, grade D, #1,088 of 2,144 statewide, top 53%, 358 students, 65% FRL); Eustis Middle School (math 45% / reading 41%, grade D-, #331 of 571 statewide, top 59%, 824 students, 57% FRL); Eustis High School (math 33% / reading 40%, grade F, #351 of 667 statewide, top 54%, 1,368 students, 45% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 507 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 42% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 19 days — a 2% lower offer ($273k) is reasonable based on typical stale-listing flexibility.

Recommended offer $221,878 (19.9% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.85% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.51%
• DSCR: 1.02
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $261,180
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3328 Thicket St	0.06mi	3/2.5	1,451 (0%)	8mo	$260,990	$180	91
3348 Thicket St	0.10mi	3/2.5	1,451 (0%)	7mo	$282,000	$194	90
2262 Red Pine Ct	0.39mi	3/2.5	1,645 (+13%)	2mo	$267,750	$163	58
630 Cedar Elm Ct	0.42mi	3/2.5	1,657 (+14%)	4mo	$269,305	$163	54

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 · 4.05% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.48×
• Total profit: $-37,995
• Equity at exit: $38,943

10-year hold

• IRR: -4.1%
• Equity multiple: 0.72×
• Total profit: $-20,683
• Equity at exit: $22,582

Cash invested: $73,130 (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 32778

• Home prices YoY: -23.4%
• Rents YoY: 4.0%
• Active inventory: 507
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,219 high
• Mortgage (P&I): −$1,370
• Tax from tax record: −$60 /mo · $724/yr
• Insurance: −$109
• HOA: −$183
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $31

Break-even live

Break-even rent $2,180

Max offer price $261,180

Occupancy floor 94%

Sensitivity live

Price	-10% $179	-5% $105	+0% $31	+5% $-43	+10% $-117
Rent	-10% $-144	-5% $-57	+0% $31	+5% $119	+10% $206
Rate	-1.0pp $163	-0.5pp $97	base $31	+0.5pp $-37	+1.0pp $-106

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: $65,295
• Closing costs: $7,835
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3031 Jessamine Dr Tavares, FL	3.0	2.5	1451	$2,016	$1.39	7d	1	0.05mi
3422 Salvia Ct Tavares, FL	4.0	2.0	1839	$2,299	$1.25	22d	1	0.30mi
3422 Salvia Ct Tavares, FL	4.0	2.0	1839	$2,299	$1.25	26d	1	0.30mi
3437 Nettle Loop Tavares, FL	4.0	2.0	1665	$2,060	$1.24	26d	1	0.30mi
2698 Rowan St Tavares, FL	3.0	2.0	1614	$2,399	$1.49	4d	1	0.36mi
4229 Evernia Rd Tavares, FL	3.0	2.0	1504	$2,100	$1.40	7d	1	0.41mi
2460 Ann Rou Rd Unit 606 Tavares, FL	2.0	2.0	1167	$1,750	$1.50	20d	1	0.48mi
3342 Landing View Tavares, FL	3.0	2.0	1690	$1,995	$1.18	5d	1	0.55mi
131 W Atwater Ave Eustis, FL	3.0	1.0	1400	$2,100	$1.50	26d	1	0.96mi
4021 Lake Saunders Dr Mount Dora, FL	2.0	1.0	1100	$1,450	$1.32	0d	1	1.02mi
101 E Atwater Ave Eustis, FL	3.0	2.0	1200	$1,900	$1.58	26d	1	1.10mi
336 Ryans Ridge Ave Eustis, FL	4.0	2.0	1317	$2,000	$1.52	26d	1	1.11mi
408 E Idlewild Ave Eustis, FL	4.0	2.5	1863	$2,349	$1.26	18d	1	1.11mi
1632 Tudor Ln Unit 1632 Tavares, FL	2.0	2.0	1047	$1,595	$1.52	20d	1	1.16mi
902 S Grove St Eustis, FL	3.0	1.0	1389	$1,350	$0.97	26d	1	1.30mi
1411 S Mary St Eustis, FL	3.0	2.0	1580	$1,950	$1.23	13d	1	1.34mi
507 Lakeshore Dr Eustis, FL	3.0	2.0	1806	$4,350	$2.41	26d	1	1.34mi
1108 Longville Cir Tavares, FL	3.0	2.0	1585	$2,150	$1.36	7d	1	1.36mi
1124 Virginia Ct Eustis, FL	2.0	1.5	900	$1,750	$1.94	26d	1	1.37mi
2213 Merry Rd Tavares, FL	3.0	2.0	1596	$1,990	$1.25	6d	1	1.45mi
2225 Cypress Ct Unit 2C Tavares, FL	2.0	2.0	1334	$2,000	$1.50	26d	1	1.49mi

HOA detail

• Monthly dues: $183 · $2,196/yr
• Likely covers: water

Listing history 12 events

1. 2026-06-21
   days on market $276,990 Active 19 DOM
2. 2026-06-18
   days on market $276,990 Active 16 DOM
3. 2026-06-17
   days on market $276,990 Active 15 DOM
4. 2026-06-16
   days on market $276,990 Active 14 DOM
5. 2026-06-15
   days on market $276,990 Active 13 DOM
6. 2026-06-13
   days on market $276,990 Active 11 DOM
7. 2026-06-09
   days on market $276,990 Active 7 DOM
8. 2026-06-08
   days on market $276,990 Active 6 DOM
9. 2026-06-07
   days on market $276,990 Active 5 DOM
10. 2026-06-04
    days on market $276,990 Active 2 DOM
11. 2026-06-02
    remarks 699-char remark
12. 2026-06-02
    listed $276,990 Active 1 DOM

ⓘ 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: $724 · $60/mo
• Projected year-2 tax: $2,299 · $192/mo
• Expected delta: +$1,575/yr (+$131/mo · 217.6%)

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

Taxation est. · year 1

• Rental income: $26,625
• − Mortgage interest: −$14,630
• − Property taxes: −$724
• − Insurance: −$1,306
• − Repairs & maintenance: −$2,130
• − Management: −$2,130
• − HOA: −$2,196
• − Depreciation: −$7,598
• Taxable loss: −$4,089
• Est. tax savings @ 24.0%: +$981
• After-tax cash flow: $1,354/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 · 6 photos

Excellent 95/100 None rehab

This newly constructed townhome in Avalon Park Tavares is in excellent condition with no visible repairs or maintenance needed. It offers a modern design and is move-in ready, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring in kitchen and bathrooms — Improves functionality and aesthetics
• Both New lighting fixtures throughout — Enhances interior aesthetics and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in kitchen and bathrooms — Improves functionality and aesthetics ↑
• Both New lighting fixtures throughout — Enhances interior aesthetics and energy efficiency ↑

ⓘ 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 — Tavares

• Score: 76/100
• State rank: #220
• US rank: #3464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tavares, FL
• County: Lake County · 364,602 people
• City population: 25,042
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 25,042
• Household income: $63,472
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 586.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 8% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Cuban 2% Dominican 1%
• Common ancestry: Romanian 4% Italian 3% Slovak 2%
• Foreign-born: 9% · Canada, Dominican Republic, Jamaica
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Other Asian/Pacific 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: ▼ -88.07%
• Current HPI: 288.7123
• Rent YoY: ▲ 4.05%
• 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

-86.6% since first listed

2 events — show timeline

• 2026-06-02 Listed $276,990 Stellar MLS as Distributed by MLS Grid
• 2025-05-02 Sold (Public Records) $2,065,000 Public Records