Kendall Plan · Leesburg, FL 34788

$89,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured · 211 Days on market

Manufactured home 55+ age-restricted 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 +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.5/10.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Manufactured-home adj. -4.4

Listing remarks

55+ age qualified community. Welcome to Mid Florida Lakes a 55+ age-qualified active and vibrant community, where you can find yourself in your dream home. We have a stunning, 2019 3 bed, 2 bath home for sale featuring 1344.00 sq ft of beautifully designed living space. Located in/near Leesburg, this property offers the perfect blend of modern amenities and timeless charm. Step inside to find an open-concept floor plan, hardwood floors, high ceilings, and tons of natural light, The kitchen boasts stainless steel appliances, custom cabinetry, and an awesome bar area for entertaining perfect for both everyday living and entertaining.

Key facts

• Custom cabinetry
• Covered patio
• Irrigation system

Tags

• OPEN-CONCEPT FLOOR PLAN
• STAINLESS STEEL APPLIANCES
• CUSTOM CABINETRY
• COVERED PATIO
• LOW-MAINTENANCE LANDSCAPING
• IRRIGATION SYSTEM

🏗️ New construction. The $89,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $137,450.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.4% in Leesburg — 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 62/100 on livability (#751 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime 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: Treadway Elementary School (math 53% / reading 48%, grade D+, #1,055 of 2,144 statewide, top 50%, 879 students, 66% FRL); Tavares Middle School (math 43% / reading 40%, grade F, #348 of 571 statewide, top 62%, 1,070 students, 58% FRL); Tavares High School (math 32% / reading 40%, grade F, #359 of 667 statewide, top 55%, 1,507 students, 45% FRL).
• Market conditions: 609 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 38d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 34% 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 $950 of loan paydown is wiped out by about $4k 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 211 days — a 12% lower offer ($79k) 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 $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.11% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $137,450
• List price: $89,900
• Delta: -34.59%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10410 Cypress Rd	0.69mi	3/2.0	1,420 (+6%)	1mo	$279,987	$197	58
35833 Dawn Dr	0.57mi	3/2.0	1,218 (-9%)	5mo	$285,000	$234	54
304 Brigadoon Cir	1.35mi	2/2.0 (-1)	1,278 (-5%)	3mo	$175,000	$137	49
12058 Callicarpa Ln	1.10mi	3/2.0	1,456 (+8%)	8mo	$290,000	$199	45
36528 Eagle Dr	1.26mi	3/2.0	1,450 (+8%)	10mo	$312,800	$216	44
1 Durness Ct	1.47mi	2/2.0 (-1)	1,200 (-11%)	2mo	$182,000	$152	40
12019 Indian Grass Way	1.04mi	3/2.0	1,673 (+24%)	0mo	$290,000	$173	40
12401 Blue Heron Way	1.36mi	3/2.0	1,541 (+15%)	6mo	$420,000	$273	35
658 Misti Dr	0.83mi	2/2.0 (-1)	1,064 (-21%)	0mo	$69,000	$65	35
35737 Shelley Dr	0.84mi	2/2.0 (-1)	1,080 (-20%)	2mo	$209,000	$194	33
522 Tammi Dr	0.81mi	2/2.0 (-1)	1,078 (-20%)	3mo	$109,900	$102	33
691 Cindi Ave	0.77mi	2/2.0 (-1)	1,144 (-15%)	6mo	$165,000	$144	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-6,131
• Equity at exit: $20,494

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $15,511
• Equity at exit: $11,884

Cash invested: $38,486 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 47 active · 4 under contract
• Months of supply: 94.0 mo (1%/mo absorbed)
• Median asking: $99,900 ($80/sqft)
• Median days on market: 10 d
• This list price: 30% of active listings are priced below it
• ARV vs active asking: +27.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 34788

• Home prices YoY: -18.2%
• Active inventory: 609
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,523 high
• Mortgage (P&I): −$721
• Tax est. 1.5%: −$172 /mo · $2,062/yr
• Insurance: −$57
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $253

Break-even live

Break-even rent $1,202

Max offer price $137,450

Occupancy floor 78%

Sensitivity live

Price	-10% $348	-5% $301	+0% $253	+5% $206	+10% $158
Rent	-10% $133	-5% $193	+0% $253	+5% $313	+10% $373
Rate	-1.0pp $322	-0.5pp $288	base $253	+0.5pp $217	+1.0pp $181

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: $34,362
• Closing costs: $4,124
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 N Lake Dr Leesburg, FL	3.0	2.0	1460	$1,799	$1.23	105d	1	0.13mi
146 Highland Dr Leesburg, FL	3.0	2.0	1372	$1,799	$1.31	75d	1	0.18mi
158 Highland Dr Leesburg, FL	3.0	2.5	1460	$1,899	$1.30	3d	1	0.22mi
184 Hibiscus Dr Unit 1 Leesburg, FL	2.0	2.0	1150	$1,990	$1.73	37d	1	0.29mi
134 Hibiscus Dr Leesburg, FL	2.0	2.5	1352	$1,749	$1.29	3d	1	0.34mi
124 Hibiscus Dr Leesburg, FL	3.0	2.0	1356	$1,899	$1.40	55d	1	0.36mi
125 Forest Dr Leesburg, FL	3.0	2.0	1372	$1,699	$1.24	29d	1	0.36mi
147 Woodland Dr Leesburg, FL	3.0	2.0	1372	$1,449	$1.06	164d	1	0.43mi
112 Crossways Dr Leesburg, FL	3.0	2.0	1200	$1,950	$1.62	10d	1	0.47mi
35849 Dawn Dr Leesburg, FL	3.0	1.0	1244	$1,515	$1.22	34d	1	0.54mi
10602 Burlwood Dr Leesburg, FL	4.0	2.0	1848	$1,826	$0.99	85d	1	0.90mi
35689 Rose Moss Ave Leesburg, FL	3.0	2.0	1270	$1,800	$1.42	145d	1	0.91mi
12005 Pale Grass Way Unit P7402270 Leesburg, FL	3.0	2.0	1463	$1,765	$1.21	0d	1	0.95mi
12002 Callicarpa Ln Leesburg, FL	3.0	2.0	1270	$1,796	$1.41	69d	1	0.97mi
12012 Pale Grass Way Leesburg, FL	3.0	2.0	1270	$1,750	$1.38	1d	1	0.98mi
35901 Joewood Ave Leesburg, FL	3.0	2.0	1483	$2,100	$1.42	158d	1	0.98mi
35644 Rose Moss Ave Leesburg, FL	4.0	2.0	1358	$1,795	$1.32	10d	1	1.01mi
12100 Buttonbush Loop Leesburg, FL	4.0	2.0	1854	$1,919	$1.04	22d	1	1.02mi
35229 Orange Grove Ln Leesburg, FL	2.0	1.0	1194	$1,400	$1.17	164d	1	1.18mi
35 Aberdeen Cir Leesburg, FL	2.0	2.0	1072	$1,350	$1.26	115d	1	1.35mi
12449 Blue Heron Way Leesburg, FL	3.0	2.0	1528	$1,779	$1.16	3d	1	1.42mi
12413 Draw Dr Grand Island, FL	3.0	2.5	1589	$1,899	$1.20	2d	1	1.50mi

Property features AI

Finance

• Financial info: List price $104,850

Exterior

• Home design: New construction plan homeAddress: Leesburg, FL
• Exterior features: Living area of 1344

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Plan: KendallActive listing

Listing history 50 events

1. 2026-10-28
   days on market $89,900 Active 211 DOM
2. 2026-10-26
   days on market $89,900 Active 209 DOM
3. 2026-10-26
   days on market $89,900 Active 208 DOM
4. 2026-10-24
   days on market $89,900 Active 207 DOM
5. 2026-10-23
   days on market $89,900 Active 206 DOM
6. 2026-10-22
   days on market $89,900 Active 205 DOM
7. 2026-10-21
   days on market $89,900 Active 204 DOM
8. 2026-10-20
   days on market $89,900 Active 203 DOM
9. 2026-10-19
   days on market $89,900 Active 202 DOM
10. 2026-10-18
    days on market $89,900 Active 201 DOM
11. 2026-10-17
    days on market $89,900 Active 200 DOM
12. 2026-10-16
    days on market $89,900 Active 199 DOM
13. 2026-09-27
    days on market $89,900 Active 198 DOM
14. 2026-09-25
    days on market $89,900 Active 196 DOM
15. 2026-09-24
    days on market $89,900 Active 195 DOM
16. 2026-09-23
    days on market $89,900 Active 194 DOM
17. 2026-09-22
    days on market $89,900 Active 193 DOM
18. 2026-09-21
    days on market $89,900 Active 192 DOM
19. 2026-09-20
    days on market $89,900 Active 191 DOM
20. 2026-09-19
    days on market $89,900 Active 190 DOM
21. 2026-09-18
    days on market $89,900 Active 189 DOM
22. 2026-09-17
    days on market $89,900 Active 188 DOM
23. 2026-09-16
    days on market $89,900 Active 187 DOM
24. 2026-09-15
    days on market $89,900 Active 186 DOM
25. 2026-09-14
    days on market $89,900 Active 185 DOM
26. 2026-09-13
    days on market $89,900 Active 184 DOM
27. 2026-09-12
    days on market $89,900 Active 183 DOM
28. 2026-09-11
    days on market $89,900 Active 182 DOM
29. 2026-09-05
    days on market $89,900 Active 176 DOM
30. 2026-09-04
    days on market $89,900 Active 175 DOM
31. 2026-09-03
    days on market $89,900 Active 174 DOM
32. 2026-08-31
    days on market $89,900 Active 171 DOM
33. 2026-08-30
    days on market $89,900 Active 170 DOM
34. 2026-08-29
    days on market $89,900 Active 169 DOM
35. 2026-08-28
    days on market $89,900 Active 168 DOM
36. 2026-08-27
    days on market $89,900 Active 167 DOM
37. 2026-08-25
    days on market $89,900 Active 165 DOM
38. 2026-08-24
    days on market $89,900 Active 164 DOM
39. 2026-08-22
    days on market $89,900 Active 162 DOM
40. 2026-08-21
    days on market $89,900 Active 161 DOM
41. 2026-08-20
    days on market $89,900 Active 160 DOM
42. 2026-08-19
    days on market $89,900 Active 159 DOM
43. 2026-08-18
    days on market $89,900 Active 158 DOM
44. 2026-08-17
    days on market $89,900 Active 157 DOM
45. 2026-08-16
    days on market $89,900 Active 156 DOM
46. 2026-08-14
    days on market $89,900 Active 154 DOM
47. 2026-08-13
    days on market $89,900 Active 153 DOM
48. 2026-08-12
    days on market $89,900 Active 152 DOM
49. 2026-08-11
    days on market $89,900 Active 151 DOM
50. 2026-08-10
    days on market $89,900 Active 150 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: $18,273
• − Mortgage interest: −$7,699
• − Property taxes: −$2,062
• − Insurance: −$687
• − Repairs & maintenance: −$1,462
• − Management: −$1,462
• − Depreciation: −$3,999
• Taxable income: $902
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $2,820/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 · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $6,720–$20,160 screening

This 2019 manufactured home in a 55+ community is in good condition with modern amenities and a well-maintained exterior. A fresh coat of paint on the exterior trim and cleaning the gutters would further enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 39/100

Zoned Schools

Elementary Rimes Early Learning & Literacy Center Middle Tavares Middle School F FL #348/571 Nat'l #5,602/14,009 High Tavares High School F FL #359/667 Nat'l #9,405/17,239

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

C Composite livability gradescore 62/100

Livability — Leesburg

• Score: 62/100
• State rank: #751
• US rank: #16429

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 386,640 people
• City population: 70,232
• 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: 13% of renters

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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%

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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%
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 1% Tagalog/Filipino 1%

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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

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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

Property features AI

Finance

• Financial info: List price $104,850

Exterior

• Home design: New construction plan homeAddress: Leesburg, FL
• Exterior features: Living area of 1344

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Plan: KendallActive listing