154 Hacienda Dr #154 · Winter Springs, FL 32708

$135,500

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 145 Days on market

Manufactured home Built 2026 Excellent condition $101/sqft · 14% below area Est $158k · 14% under

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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 +22.4/30.0
• ARV discount +13.9/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Schools +5.2/10.0
• Condition / age +5.0/5.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -5.5

Listing remarks

This brand-new 2026 model home offers modern comfort and style throughout, featuring recessed lighting, elegant crown molding, and durable luxury plank flooring. The thoughtfully designed layout includes spacious walk-in closets and a versatile den-perfect for a home office or study space. The kitchen is equipped with sleek stainless steel appliances, and the property also includes a shed with electricity, providing extra storage or workspace options.

Key facts

• Versatile den
• Walk-in closets
• Recessed lighting

Tags

• RECESSED LIGHTING
• CROWN MOLDING
• LUXURY PLANK FLOORING
• WALK-IN CLOSETS
• VERSATILE DEN
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $136k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $136k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.7% in Winter Springs — 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 75/100 on livability (#261 in FL, #4,187 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Seminole (suburban): math 57% / reading 61% proficiency, ranked #13 of 73 in FL (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Layer Elementary School (math 54% / reading 61%, grade C+, #764 of 2,144 statewide, top 36%, 608 students, 55% FRL); Indian Trails Middle School (math 60% / reading 60%, grade B, #135 of 571 statewide, top 24%, 1,197 students, 44% FRL); Winter Springs High School (math 43% / reading 55%, grade D, #193 of 667 statewide, top 29%, 2,038 students, 47% FRL).
• Market conditions: Rents rising (+3.6%/yr); 368 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 75d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,979 units permitted in Seminole County in 2024 (1,191 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $937 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Seminole County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Recommended offer $119,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.09% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.17%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (median comp): $158,159
• List price: $135,500
• Delta: -14.33%
• Verdict: UNDERPRICED
• Comps: 8 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
239 Panorama Dr	0.47mi	3/2.0 (+1)	1,349 (+0%)	0mo	$330,000	$245	72
477 Green Spring Cir	0.31mi	3/1.5 (+1)	1,280 (-5%)	1mo	$225,000	$176	70
510 Green Spring Cir	0.29mi	2/2.5	1,180 (-12%)	0mo	$202,000	$171	64
339 Inglenook Cir	0.43mi	3/2.0 (+1)	1,437 (+7%)	0mo	$359,000	$250	63
314 San Gabriel St	0.38mi	3/2.0 (+1)	1,091 (-19%)	1mo	$274,000	$251	51
118 Deer Song Dr	0.50mi	3/2.0 (+1)	1,105 (-18%)	0mo	$175,000	$158	46
203 Sweetgum	0.91mi	3/2.0 (+1)	1,218 (-9%)	0mo	$380,000	$312	44
140 N Fairfax	0.64mi	3/1.0 (+1)	1,188 (-12%)	1mo	$305,000	$257	41
307 Cello Cir	0.63mi	3/2.0 (+1)	1,551 (+15%)	0mo	$365,000	$235	41
71 Bombay Ave	0.84mi	2/2.0	1,134 (-16%)	0mo	$205,900	$182	40
65 S Devon Ave	0.66mi	3/2.0 (+1)	1,075 (-20%)	1mo	$280,000	$260	38
328 Panama Cir	1.24mi	3/2.0 (+1)	1,107 (-18%)	0mo	$375,000	$339	35

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 · 3.58% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.82×
• Total profit: $-6,642
• Equity at exit: $20,203

10-year hold

• IRR: 5.7%
• Equity multiple: 1.43×
• Total profit: $16,473
• Equity at exit: $11,716

Cash invested: $37,940 (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 →

Active competition Active MLS

• For sale now: 22 active
• Median asking: $135,500 ($101/sqft)
• Median days on market: 42 d
• This list price: 45% of active listings are priced below it
• ARV vs active asking: +16.5% above current asking $/sqft

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

ZIP-level market 32708

• Rents YoY: 3.6%
• Active inventory: 368
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,472 high
• Mortgage (P&I): −$711
• Tax est. 1.5%: −$169 /mo · $2,032/yr
• Insurance: −$56
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $227

Break-even live

Break-even rent $1,185

Max offer price $135,500

Occupancy floor 80%

Sensitivity live

Price	-10% $320	-5% $273	+0% $227	+5% $180	+10% $133
Rent	-10% $110	-5% $168	+0% $227	+5% $285	+10% $343
Rate	-1.0pp $295	-0.5pp $261	base $227	+0.5pp $191	+1.0pp $156

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: $33,875
• Closing costs: $4,065
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 Bennett St Winter Springs, FL	3.0	1.0	1120	$1,695	$1.51	82d	1	0.25mi
616 David St Winter Springs, FL	3.0	1.0	1108	$1,795	$1.62	10d	1	0.29mi
495 Green Spring Cir Winter Springs, FL	3.0	2.5	1375	$1,900	$1.38	84d	1	0.31mi
404 San Gabriel St Winter Springs, FL	3.0	2.0	1089	$1,900	$1.74	76d	1	0.32mi
477 Green Spring Cir Winter Springs, FL	3.0	1.5	1280	$1,900	$1.48	7d	1	0.33mi
222 Albert St Winter Springs, FL	3.0	1.0	1087	$1,995	$1.84	40d	1	0.33mi
222 Albert St Winter Springs, FL	3.0	1.0	1087	$1,995	$1.84	74d	1	0.33mi
315 San Miguel St Winter Springs, FL	2.0	2.0	945	$1,650	$1.75	40d	1	0.34mi
317 San Gabriel St Winter Springs, FL	3.0	2.0	1100	$1,900	$1.73	119d	1	0.36mi
500 George St Winter Springs, FL	3.0	1.0	1123	$1,800	$1.60	43d	1	0.37mi
130 Rhoden Ln Winter Springs, FL	2.0	1.5	896	$1,625	$1.81	43d	1	0.41mi
114 Cory Ln Winter Springs, FL	2.0	2.0	1090	$1,395	$1.28	110d	1	0.45mi
112 Cory Ln Winter Springs, FL	2.0	2.0	938	$1,350	$1.44	10d	1	0.46mi
101 Cory Ln Winter Springs, FL	2.0	2.0	938	$1,425	$1.52	70d	1	0.47mi
105 Cory Ln Winter Springs, FL	2.0	2.0	938	$1,325	$1.41	10d	1	0.47mi
526 Seasons Ct Winter Springs, FL	3.0	2.0	1161	$2,295	$1.98	30d	1	0.47mi
502 San Gabriel Ct Winter Springs, FL	3.0	2.0	1187	$2,050	$1.73	23d	1	0.50mi
502 San Gabriel Ct Winter Springs, FL	3.0	2.0	1187	$2,050	$1.73	40d	1	0.50mi
226 Panorama Dr Winter Springs, FL	3.0	2.0	1100	$1,750	$1.59	100d	1	0.54mi
614 Sailfish Rd Winter Springs, FL	3.0	2.0	1466	$2,195	$1.50	6d	1	0.54mi
133 Garden Dr Winter Springs, FL	2.0	1.5	900	$1,495	$1.66	83d	1	0.55mi
133 Garden Dr Unit 1 Winter Springs, FL	2.0	1.5	900	$1,495	$1.66	82d	1	0.55mi
137 Garden Dr Winter Springs, FL	2.0	2.0	900	$1,515	$1.68	10d	1	0.56mi
137 Garden Dr Winter Springs, FL	2.0	1.5	900	$1,515	$1.68	94d	1	0.56mi
119 Sundance Ct Winter Springs, FL	3.0	2.0	1161	$1,995	$1.72	4d	1	0.57mi
200 Panorama Dr Winter Springs, FL	3.0	2.0	1600	$1,600	$1.00	110d	1	0.58mi
424 Lancers Dr Winter Springs, FL	3.0	2.0	1500	$2,460	$1.64	3d	1	0.59mi
404 Lancers Dr Winter Springs, FL	3.0	2.0	1406	$2,400	$1.71	106d	1	0.59mi
404 Lancers Dr Winter Springs, FL	3.0	2.0	1406	$2,400	$1.71	110d	1	0.59mi
213 S Moss Rd Unit 213 Winter Springs, FL	2.0	1.5	930	$1,495	$1.61	117d	1	0.59mi
213 S Moss Rd Winter Springs, FL	2.0	1.5	930	$1,400	$1.51	59d	1	0.59mi
118 Sundance Ct Winter Springs, FL	3.0	2.0	1161	$2,149	$1.85	94d	1	0.60mi
10 N Fairfax Ave Unit 10 Winter Springs, FL	2.0	1.5	907	$1,595	$1.76	106d	1	0.62mi
312 Riunite Cir Winter Springs, FL	3.0	2.0	1269	$2,140	$1.69	29d	1	0.64mi
109 N Alderwood St Winter Springs, FL	3.0	2.0	1458	$2,150	$1.47	87d	1	0.64mi
305 Cello Cir Winter Springs, FL	3.0	2.0	1308	$2,225	$1.70	108d	1	0.65mi
337 Riunite Cir Winter Springs, FL	3.0	2.0	1500	$2,200	$1.47	74d	1	0.71mi
224 Bitterwood St Winter Springs, FL	3.0	2.0	1580	$2,299	$1.46	87d	1	0.75mi
224 Bitterwood St Winter Springs, FL	3.0	2.0	1580	$2,299	$1.46	94d	1	0.75mi
44 S Cortez Ave Winter Springs, FL	3.0	2.0	1320	$2,295	$1.74	70d	1	0.77mi

Property features AI

Finance

• Other: Address: 154 Hacienda Dr #154, Winter Springs, FL 32708Listing provided by Zillow; information deemed reliable but not guaranteed
• Financial info: List price $135,500

Exterior

• Home design: Spec-built plan named The RivieraActive listing
• Construction: Single-family property (plan name indicates new construction/spec)

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms (full)
• Heating & cooling: Forced air heating
• Interior features: Living area approximately 1344 (listed)

Listing history 50 events

1. 2026-08-12
   days on market $135,500 Active 145 DOM
2. 2026-08-11
   days on market $135,500 Active 144 DOM
3. 2026-08-10
   days on market $135,500 Active 143 DOM
4. 2026-08-09
   days on market $135,500 Active 142 DOM
5. 2026-08-08
   days on market $135,500 Active 141 DOM
6. 2026-08-06
   days on market $135,500 Active 139 DOM
7. 2026-08-05
   days on market $135,500 Active 138 DOM
8. 2026-08-04
   days on market $135,500 Active 137 DOM
9. 2026-08-03
   days on market $135,500 Active 136 DOM
10. 2026-07-31
    days on market $135,500 Active 133 DOM
11. 2026-07-30
    days on market $135,500 Active 131 DOM
12. 2026-07-28
    days on market $135,500 Active 130 DOM
13. 2026-07-26
    days on market $135,500 Active 128 DOM
14. 2026-07-24
    days on market $135,500 Active 126 DOM
15. 2026-07-23
    days on market $135,500 Active 125 DOM
16. 2026-07-22
    days on market $135,500 Active 124 DOM
17. 2026-07-21
    days on market $135,500 Active 123 DOM
18. 2026-07-20
    days on market $135,500 Active 122 DOM
19. 2026-07-18
    days on market $135,500 Active 120 DOM
20. 2026-07-18
    days on market $135,500 Active 119 DOM
21. 2026-07-16
    days on market $135,500 Active 118 DOM
22. 2026-07-15
    days on market $135,500 Active 117 DOM
23. 2026-07-14
    days on market $135,500 Active 116 DOM
24. 2026-07-13
    days on market $135,500 Active 115 DOM
25. 2026-07-13
    days on market $135,500 Active 114 DOM
26. 2026-07-11
    days on market $135,500 Active 113 DOM
27. 2026-07-10
    days on market $135,500 Active 112 DOM
28. 2026-07-09
    days on market $135,500 Active 111 DOM
29. 2026-07-07
    days on market $135,500 Active 109 DOM
30. 2026-07-06
    days on market $135,500 Active 108 DOM
31. 2026-07-05
    days on market $135,500 Active 107 DOM
32. 2026-07-03
    days on market $135,500 Active 105 DOM
33. 2026-07-02
    days on market $135,500 Active 104 DOM
34. 2026-07-01
    days on market $135,500 Active 103 DOM
35. 2026-06-30
    days on market $135,500 Active 102 DOM
36. 2026-06-29
    days on market $135,500 Active 101 DOM
37. 2026-06-28
    days on market $135,500 Active 100 DOM
38. 2026-06-27
    days on market $135,500 Active 99 DOM
39. 2026-06-26
    days on market $135,500 Active 98 DOM
40. 2026-06-24
    days on market $135,500 Active 96 DOM
41. 2026-06-22
    days on market $135,500 Active 94 DOM
42. 2026-06-21
    days on market $135,500 Active 93 DOM
43. 2026-06-18
    days on market $135,500 Active 90 DOM
44. 2026-06-17
    days on market $135,500 Active 89 DOM
45. 2026-06-16
    days on market $135,500 Active 88 DOM
46. 2026-06-15
    days on market $135,500 Active 87 DOM
47. 2026-06-13
    days on market $135,500 Active 85 DOM
48. 2026-06-09
    days on market $135,500 Active 81 DOM
49. 2026-06-08
    days on market $135,500 Active 80 DOM
50. 2026-06-07
    days on market $135,500 Active 79 DOM

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

Taxation est. · year 1

• Rental income: $17,665
• − Mortgage interest: −$7,590
• − Property taxes: −$2,032
• − Insurance: −$678
• − Repairs & maintenance: −$1,413
• − Management: −$1,413
• − Depreciation: −$3,942
• Taxable income: $597
• Est. tax owed @ 24.0%: −$143
• After-tax cash flow: $2,575/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 · 3 photos

Excellent 100/100 None rehab

This brand-new 2026 model home is in excellent condition with no visible repairs or maintenance needed. It offers modern comfort and style throughout, making it a move-in-ready property with high resale and rental value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both Interior touch-ups — Enhances interior aesthetics and value ↑

D Composite school gradezoned avg 52/100

Zoned Schools

Elementary Winter Springs Elementary School D- FL #1,223/2,144 Nat'l #15,452/41,679 Middle Indian Trails Middle School B FL #135/571 Nat'l #1,793/14,009 High Winter Springs High School D FL #193/667 Nat'l #6,078/17,239

Schools (NCES district)

• District: Seminole
• NCES district ID: 1201710
• Math proficiency: 57% ▼ -7.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $58,478
• Composite: 51.05/100
• National rank: #1769
• State rank: #13 of 73 in FL

B Composite livability gradescore 75/100

Livability — Winter Springs

• Score: 75/100
• State rank: #261
• US rank: #4187

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winter Springs, FL
• County: Seminole County · 515,494 people
• City population: 48,965
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 48,965
• Household income: $93,628
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 11% of renters

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Population outlook (Seminole County) Hauer SSP2

• Today (2025): 515,494 people
• By 2030: 545,713 · +5.9%
• By 2040: 598,068 · +16.0%
• By 2050: 640,663 · +24.3%
• By 2075: 724,461 · +40.5%
• By 2100: 755,530 · +46.6%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 23% Two or more races 11% Black 6% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 12% Cuban 2% Dominican 1%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 2%
• Foreign-born: 11% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 15% Other Indo-European 2% French/Haitian/Cajun 1%

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Political lean MEDSL · Seminole

• 2024 margin: Toss-up / Even · D 47.6% · R 51.1% · Other 1.3%
• 2008→2024 swing: -0.8pp no change · 2008: -2.8pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.8 2016: R+1.6 2012: R+6.5 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.76%
• Current HPI: 308.2797
• Rent YoY: ▲ 3.58%
• 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

• Other: Address: 154 Hacienda Dr #154, Winter Springs, FL 32708Listing provided by Zillow; information deemed reliable but not guaranteed
• Financial info: List price $135,500

Exterior

• Home design: Spec-built plan named The RivieraActive listing
• Construction: Single-family property (plan name indicates new construction/spec)

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms (full)
• Heating & cooling: Forced air heating
• Interior features: Living area approximately 1344 (listed)