1024 Hilltop Rd · Tavares, FL 32778

$170,000

2 bd · 2.0 ba · 1,342 sqft · Manufactured public records · 82 Days on market

Built 1992 8,206 sqft lot $50/mo HOA · 3% of rent

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Why this score? — see what drove the C+ 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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Virtually Staged. Enjoy peaceful Florida living with serene pond views in desirable 55+ Imperial Terrace East in Tavares. Whether you’re escaping harsh northern winters or embracing the Sunshine State full-time, this home offers an affordable, low-maintenance lifestyle in a convenient Central Florida location. A covered carport and welcoming covered front porch provide comfortable, weather-protected entry. Inside, the open floor plan is enhanced by vaulted ceilings, updated ceiling fans, and durable laminate flooring, creating a bright and airy feel. The kitchen features a breakfast bar, pantry cabinet with pull-out shelving, and opens seamlessly to the four-season porch, surrounded b

Key facts

• Covered front porch
• Open floor plan
• Pantry cabinet

Tags

• POND VIEWS
• COVERED CARPORT
• COVERED FRONT PORCH
• OPEN FLOOR PLAN
• BREAKFAST BAR
• PANTRY CABINET

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $160k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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.
• Market conditions: Rents rising fast (+4.0%/yr); 501 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 35% 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 $1k of loan paydown is wiped out by about $5k 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 + 4.0% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $53k; list at $170k implies a 220% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.10% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.53%
• DSCR: 1.47
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.05% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $1,006
• Equity at exit: $25,348

10-year hold

• IRR: 11.1%
• Equity multiple: 1.91×
• Total profit: $43,317
• Equity at exit: $14,698

Cash invested: $47,600 (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: 501
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,869 high
• Mortgage (P&I): −$891
• Tax from tax record: −$46 /mo · $556/yr
• Insurance: −$71
• HOA: −$50
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $418

Break-even live

Break-even rent $1,340

Max offer price $170,000

Occupancy floor 73%

Sensitivity live

Price	-10% $514	-5% $466	+0% $418	+5% $370	+10% $321
Rent	-10% $270	-5% $344	+0% $418	+5% $491	+10% $565
Rate	-1.0pp $503	-0.5pp $461	base $418	+0.5pp $374	+1.0pp $329

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
615 Juniper Way Tavares, FL	3.0	2.0	1209	$1,900	$1.57	18d	1	0.32mi
4721 Treasure Cay Rd Tavares, FL	3.0	2.0	1372	$2,000	$1.46	15d	1	0.65mi
4950 Marsh Harbor Dr Tavares, FL	3.0	2.0	1227	$2,050	$1.67	4d	1	0.87mi
4567 Barbuda Dr Tavares, FL	3.0	2.0	1362	$2,150	$1.58	24d	1	0.89mi
459 E Rosewood Ln #157 Tavares, FL	3.0	2.0	1240	$1,400	$1.13	22d	1	0.93mi
500 E Rosewood Ln Unit 154 Tavares, FL	3.0	2.0	1140	$1,650	$1.45	24d	1	0.94mi
1585 Dead River Rd Tavares, FL	3.0	2.0	1053	$1,990	$1.89	24d	1	1.00mi
465 Oak Dr Tavares, FL	3.0	3.0	1550	$1,750	$1.13	24d	1	1.01mi
3224 Manatee Rd Tavares, FL	3.0	2.0	1568	$1,600	$1.02	5d	1	1.03mi
123 N Lake Ave Tavares, FL	2.0	1.0	1120	$1,595	$1.42	24d	1	1.11mi
741 W Rosewood Ln Tavares, FL	3.0	2.0	1125	$1,195	$1.06	3d	1	1.11mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 21 events

1. 2026-06-18
   days on market $170,000 Active 82 DOM
2. 2026-06-17
   days on market $170,000 Active 81 DOM
3. 2026-06-16
   days on market $170,000 Active 80 DOM
4. 2026-06-15
   days on market $170,000 Active 79 DOM
5. 2026-06-13
   days on market $170,000 Active 77 DOM
6. 2026-06-09
   days on market $170,000 Active 73 DOM
7. 2026-06-08
   days on market $170,000 Active 72 DOM
8. 2026-06-07
   days on market $170,000 Active 71 DOM
9. 2026-06-04
   days on market $170,000 Active 68 DOM
10. 2026-06-03
    days on market $170,000 Active 67 DOM
11. 2026-06-02
    days on market $170,000 Active 66 DOM
12. 2026-06-01
    days on market $170,000 Active 65 DOM
13. 2026-05-31
    days on market $170,000 Active 64 DOM
14. 2026-04-24
    status Pending
15. 2026-04-06
    price $170,000
16. 2026-02-27
    status Active
17. 2026-02-23
    status Pending
18. 2026-02-20
    listed $175,000 Active
19. 2014-12-04
    soldstatus $53,200
20. 1995-07-03
    soldstatus $53,000
21. 1993-02-19
    soldstatus $54,500

ⓘ 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: $556 · $46/mo
• Projected year-2 tax: $1,411 · $118/mo
• Expected delta: +$855/yr (+$71/mo · 153.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 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: $22,426
• − Mortgage interest: −$9,523
• − Property taxes: −$556
• − Insurance: −$850
• − Repairs & maintenance: −$1,794
• − Management: −$1,794
• − HOA: −$600
• − Depreciation: −$4,945
• Taxable income: $2,363
• Est. tax owed @ 24.0%: −$567
• After-tax cash flow: $4,445/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 — 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

+211.9% since first listed

8 events — show timeline

• 2026-04-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-06 Price Changed $170,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-20 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 2014-12-04 Sold (Public Records) $53,200 Public Records
• 1995-07-03 Sold (Public Records) $53,000 Public Records
• 1993-02-19 Sold (Public Records) $54,500 Public Records

Property tax history

+4.7%/yr

Latest (2025): $556 · +3.2% YoY. Source: county tax records.