111 Ashville St Lot 647 · Apopka, FL 32712

$49,500

2 bd · 2.0 ba · 924 sqft · Manufactured · 41 Days on market

Built 1984 3,200 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming and well maintained 2- bedroom, 2- bathroom manufactured home on a desirable corner lot. This home has been lovingly cared for by the previous owner and is being sold furnished- both inside and out. Which truly makes this home move-in ready! The interior features include a comfortable living space with a sofa that converts into a queen size bed. Enjoy the outdoor living space with a covered patio that includes furnishings and a swing set under the big shade tree. Additionally, this home is enhanced by orange and mandarin tress. Make your appointment to tour your new home today!

Key facts

• Covered patio
• Corner lot
• Outdoor living space

Tags

• CORNER LOT
• OUTDOOR LIVING SPACE
• COVERED PATIO
• ORANGE AND MANDARIN TREES

Property features AI

Finance

• Other: Furnished; Corner lot acreage approximately 0.07 acres
• Financial info: Monthly land lease: $900; Lease restrictions apply
• HOA & community: Lakeshore Management association; Buyer approval required; Clubhouse; Pool; Sidewalks; Cats and dogs allowed; Association approval required; No association fee required; association provides pool and recreational facilities

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Water connected; Sewer connected
• Home design: Manufactured single-wide home; One story; North-facing
• Construction: Metal siding; Metal roof; Pillar/post/pier foundation; Built as manufactured home
• Exterior features: Patio; Storage shed(s); Corner lot; Asphalt road

Interior

• Kitchen: Convection oven; Range; Refrigerator; Disposal
• Bedrooms: 2 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 34.3% vs local median 3.8% in Apopka — 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 66/100 on livability (#594 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+, employment B; Watch: crime D-, amenities F, commute 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: Rock Springs Elementary (math 49% / reading 53%, grade C-, #1,043 of 2,144 statewide, top 49%, 733 students, 57% FRL); Apopka Middle (math 37% / reading 40%, grade F, #384 of 571 statewide, top 68%, 997 students, 56% FRL); Apopka High (math 19% / reading 47%, grade F, #406 of 667 statewide, top 61%, 3,507 students, 42% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents soft (-2.1%/yr); 668 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $342 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 2900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,015 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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. 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?
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: 3.83% ✓
• Cap rate: 34.29%
• Cash-on-cash: 100.00%
• DSCR: 5.45
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 97.7%
• Equity multiple: 5.33×
• Total profit: $60,015
• Equity at exit: $7,381

10-year hold

• IRR: 99.7%
• Equity multiple: 10.06×
• Total profit: $125,636
• Equity at exit: $4,280

Cash invested: $13,860 (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 32712

• Home prices YoY: -34.5%
• Rents YoY: -2.1%
• Active inventory: 668
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,895 medium
• Mortgage (P&I): −$260
• Tax est. 1.5%: −$62 /mo · $742/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $1,155

Break-even live

Break-even rent $433

Max offer price $49,500

Occupancy floor 34%

Sensitivity live

Price	-10% $1,189	-5% $1,172	+0% $1,155	+5% $1,138	+10% $1,121
Rent	-10% $1,005	-5% $1,080	+0% $1,155	+5% $1,230	+10% $1,305
Rate	-1.0pp $1,180	-0.5pp $1,168	base $1,155	+0.5pp $1,142	+1.0pp $1,129

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1355 Villa Ln Apopka, FL	2.0	2.5	1073	$1,695	$1.58	21d	1	1.36mi
1118 Villa Ln #87 Apopka, FL	2.0	2.0	980	$1,890	$1.93	25d	1	1.43mi
1106 Villa Ln #81 Apopka, FL	2.0	2.0	980	$1,600	$1.63	9d	1	1.43mi

Listing history 4 events

1. 2026-05-21
   historical $1,650
2. 2026-05-21
   price $49,500
3. 2026-05-20
   listed $1,650
4. 2026-04-18
   listed $65,000 Active

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,740
• − Mortgage interest: −$2,773
• − Property taxes: −$742
• − Insurance: −$248
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$1,440
• Taxable income: $13,899
• Est. tax owed @ 24.0%: −$3,336
• After-tax cash flow: $10,524/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 — Apopka

• Score: 66/100
• State rank: #594
• US rank: #11020

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Orange County · 1,471,359 people
• City population: 109,852
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 50,583
• Household income: $108,734
• Rent vs Own: 14.6% rent · 85.4% own
• Severe rent burden: 876.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 48% Hispanic / Latino 26% Two or more races 19% Black 16% Asian 4%
• Hispanic origin (detail): Mexican 6% Puerto Rican 7% Cuban 2% Dominican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 19% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 21% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -149.12%
• Current HPI: 283.4441
• Rent YoY: ▼ -2.09%
• 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

-97.5% since first listed

4 events — show timeline

• 2026-05-21 Rental Removed $1,650 STELLARMLS
• 2026-05-21 Price Changed $49,500 Stellar MLS as Distributed by MLS Grid
• 2026-05-20 Listed for Rent $1,650 STELLARMLS
• 2026-04-18 Listed $65,000 Stellar MLS as Distributed by MLS Grid