Silver Springs - Limited Series Plan · Lisbon, FL 34788

$189,900

3 bd · 2.0 ba · 1,356 sqft · Manufactured · 48 Days on market

Good condition

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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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

55+ age qualified community. CURRENTLY UNDER CONSTRUCTION! Welcome to Mid Florida Lakes, a 55+ age-qualified active and vibrant community, where your dream home is coming to life. We are excited to offer a stunning, brand new, beautiful, 2026 3 bed, 2 bath home for sale, featuring approximately 1356.16 sq ft of thoughtfully designed living space. Located in Leesburg, this soon-to-be-completed property will offer the perfect blend of modern design and timeless comfort. Construction is underway, and soon you'll be able to step inside and experience an open-concept floor plan, high ceilings, natural light, etc. The kitchen will be beautifully designed with stainless steel appliances, a large i

Key facts

• Custom cabinetry
• Modern design
• Large island

Tags

• UNDER CONSTRUCTION
• MODERN DESIGN
• OPEN-CONCEPT FLOOR PLAN
• STAINLESS STEEL APPLIANCES
• LARGE ISLAND
• CUSTOM CABINETRY

Property features AI

Finance

• Financial info: List price $189,900

Exterior

• Home design: Single-family plan (Silver Springs - Limited Series)
• Construction: Living area approximately 1,356
• Exterior features: Located at 199 Forest Dr, Leesburg, FL 34788

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home from the Silver Springs - Limited Series

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 5.5% in Lisbon — 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 65/100 on livability (#642 in FL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: schools 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: 285 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 44% of the median local income ($54k/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 $6k 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 48 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.04% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-14,778
• Equity at exit: $28,315

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $7,809
• Equity at exit: $16,419

Cash invested: $53,172 (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 34788

• Home prices YoY: -18.2%
• Active inventory: 285
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,978 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $251

Break-even live

Break-even rent $1,661

Max offer price $189,900

Occupancy floor 82%

Sensitivity live

Price	-10% $382	-5% $316	+0% $251	+5% $185	+10% $119
Rent	-10% $94	-5% $173	+0% $251	+5% $329	+10% $407
Rate	-1.0pp $346	-0.5pp $299	base $251	+0.5pp $201	+1.0pp $151

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 Woodland Dr Leesburg, FL	3.0	2.0	1372	$1,449	$1.06	24d	1	0.43mi
112 Crossways Dr Leesburg, FL	3.0	2.0	1200	$1,800	$1.50	5d	1	0.47mi
35689 Rose Moss Ave Leesburg, FL	3.0	2.0	1270	$1,800	$1.42	5d	1	0.91mi
35901 Joewood Ave Leesburg, FL	3.0	2.0	1483	$2,100	$1.42	18d	1	0.98mi
35229 Orange Grove Ln Leesburg, FL	2.0	1.0	1194	$1,400	$1.17	24d	1	1.18mi
35 Aberdeen Cir Leesburg, FL	2.0	2.0	1072	$1,400	$1.31	24d	1	1.35mi

Listing history 13 events

1. 2026-06-18
   days on market $189,900 Active 48 DOM
2. 2026-06-17
   days on market $189,900 Active 47 DOM
3. 2026-06-16
   days on market $189,900 Active 46 DOM
4. 2026-06-15
   days on market $189,900 Active 45 DOM
5. 2026-06-13
   days on market $189,900 Active 43 DOM
6. 2026-06-09
   days on market $189,900 Active 39 DOM
7. 2026-06-08
   days on market $189,900 Active 38 DOM
8. 2026-06-07
   days on market $189,900 Active 37 DOM
9. 2026-06-04
   days on market $189,900 Active 34 DOM
10. 2026-06-03
    days on market $189,900 Active 33 DOM
11. 2026-06-02
    days on market $189,900 Active 32 DOM
12. 2026-06-02
    days on market $189,900 Active 31 DOM
13. 2026-05-31
    days on market $189,900 Active 30 DOM

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

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 · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,742
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$1,899
• − Management: −$1,899
• − Depreciation: −$5,524
• Taxable loss: −$17
• Est. tax savings @ 24.0%: +$4
• After-tax cash flow: $3,012/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 · 12 photos

Good 80/100 Cosmetic rehab

This 3-bedroom, 2-bathroom home is in excellent condition with a modern design and ample living space. It is currently under construction and will be move-in ready soon. The property has a good condition score and is ready for minor cosmetic updates to enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Adding landscaping features — Landscaping can improve curb appeal and add value to the property.
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters.
• Both Installing smart home features — Smart home features can increase convenience and appeal to tech-savvy buyers and renters.
• Rental Adding a smart thermostat — A smart thermostat can help reduce energy costs and attract renters who value energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Adding landscaping features — Landscaping can improve curb appeal and add value to the property. ↑
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Installing smart home features — Smart home features can increase convenience and appeal to tech-savvy buyers and renters. ↑
• Rental Adding a smart thermostat — A smart thermostat can help reduce energy costs and attract renters who value 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 — Lisbon

• Score: 65/100
• State rank: #642
• US rank: #12649

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 364,602 people
• City population: 21,867
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 22,137
• Household income: $54,147
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 406.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 1% Tagalog/Filipino 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: ▼ -61.07%
• Current HPI: 273.6616
• Rent YoY: —
• 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