1227 Nassau Cir · Tavares, FL 32778

$135,000

2 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 27 Days on market

Built 1978 10,100 sqft lot Est $162k · 16% under $52/mo HOA · 3% of rent

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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 +29.8/30.0
• ARV discount +14.9/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• 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 MLS

MOVE IN READY!!! CORNER LOT!!! Must see this well kept 3 bedroom, 2 bath home. Very clean with LOTS and LOTS of built in storage. All appliances like new!!! Laminate flooring throughout (except bathrooms). Breakfast bar with lookout into living room. Relax in the screened porch while getting some fresh air. Enjoy the amenities of Lake Frances estates, including swimming, fishing, and shuffleboard. Ride your golf cart to the local supermarket or go downtown for a walk in the park or dinner and drinks. Lake Frances Estates HOA is ONLY $35.00 monthly!!

Key facts

• 0.23 acre lot
• 2 parking spots
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% 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.
• Zoned schools: Tavares Elementary School (math 49% / reading 45%, grade D-, #1,191 of 2,144 statewide, top 57%, 875 students, 61% FRL); Tavares High School (math 32% / reading 40%, grade F, #359 of 667 statewide, top 55%, 1,507 students, 45% FRL) — zoned schools at 53% FRL track the district average.
• 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 18d 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 33% 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 $933 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.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago 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 $115k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.29% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.74%
• DSCR: 1.70
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $161,568
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1024 Capella Dr	0.13mi	2/2.0	1,104 (+4%)	4mo	$55,000	$50	83
1424 Mohawk Cir	0.14mi	2/2.0	1,160 (+10%)	2mo	$195,000	$168	75
1209 Apache Cir	0.10mi	2/2.0	1,152 (+9%)	9mo	$128,000	$111	73
1408 Skyline Ct	0.15mi	2/2.0	1,144 (+8%)	8mo	$92,000	$80	73
1687 Elkhart Cir	0.34mi	2/2.0	1,000 (-5%)	6mo	$160,000	$160	70
1681 Elkhart Cir	0.33mi	2/2.0	1,125 (+6%)	7mo	$172,000	$153	68

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 · 4.05% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.31×
• Total profit: $11,548
• Equity at exit: $20,129

10-year hold

• IRR: 17.8%
• Equity multiple: 2.55×
• Total profit: $58,449
• Equity at exit: $11,672

Cash invested: $37,800 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,735 high
• Mortgage (P&I): −$708
• Tax from tax record: −$59 /mo · $708/yr
• Insurance: −$56
• HOA: −$52
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $496

Break-even live

Break-even rent $1,108

Max offer price $135,000

Occupancy floor 66%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1105 N Rockingham Ave Tavares, FL	2.0	2.0	806	$1,650	$2.05	5d	1	0.32mi
807 McLain Ct Tavares, FL	2.0	2.0	1104	$1,700	$1.54	16d	1	0.39mi
542 E Caroline St Tavares, FL	2.0	1.0	812	$1,400	$1.72	24d	1	0.55mi
743 E Alfred St Tavares, FL	2.0	1.0	1000	$1,450	$1.45	24d	1	0.58mi
380 Dora Ave Tavares, FL	2.0	1.0	750	$1,399	$1.87	15d	1	0.60mi
2225 Cypress Ct Unit 2C Tavares, FL	2.0	2.0	1334	$2,000	$1.50	24d	1	0.76mi
1632 Tudor Ln Unit 1632 Tavares, FL	2.0	2.0	1047	$1,595	$1.52	18d	1	0.77mi
1403 E Alfred St Unit 200 Tavares, FL	2.0	1.5	1000	$2,000	$2.00	18d	1	0.81mi
123 N Lake Ave Tavares, FL	2.0	1.0	1120	$1,595	$1.42	24d	1	1.13mi
2420 Ann Rou Rd Unit 201 Tavares, FL	1.0	1.0	1000	$1,555	$1.55	18d	1	1.28mi
2460 Ann Rou Rd Unit 606 Tavares, FL	2.0	2.0	1167	$1,750	$1.50	18d	1	1.40mi

HOA detail

• Monthly dues: $52 · $624/yr

Listing history 9 events

1. 2026-04-25
   status Pending
2. 2026-03-29
   listed $135,000 Active
3. 2021-07-07
   soldstatus $115,000 Closed 555-char remark

   Show marketing remark (555 chars)

   MOVE IN READY!!! CORNER LOT!!! Must see this well kept 3 bedroom, 2 bath home. Very clean with LOTS and LOTS of built in storage. All appliances like new!!! Laminate flooring throughout (except bathrooms). Breakfast bar with lookout into living room. Relax in the screened porch while getting some fresh air. Enjoy the amenities of Lake Frances estates, including swimming, fishing, and shuffleboard. Ride your golf cart to the local supermarket or go downtown for a walk in the park or dinner and drinks. Lake Frances Estates HOA is ONLY $35.00 monthly!!

4. 2021-06-04
   status Pending 555-char remark

   Show marketing remark (555 chars)

   MOVE IN READY!!! CORNER LOT!!! Must see this well kept 3 bedroom, 2 bath home. Very clean with LOTS and LOTS of built in storage. All appliances like new!!! Laminate flooring throughout (except bathrooms). Breakfast bar with lookout into living room. Relax in the screened porch while getting some fresh air. Enjoy the amenities of Lake Frances estates, including swimming, fishing, and shuffleboard. Ride your golf cart to the local supermarket or go downtown for a walk in the park or dinner and drinks. Lake Frances Estates HOA is ONLY $35.00 monthly!!

5. 2021-05-31
   listed $115,000 Active 555-char remark

   Show marketing remark (555 chars)

   MOVE IN READY!!! CORNER LOT!!! Must see this well kept 3 bedroom, 2 bath home. Very clean with LOTS and LOTS of built in storage. All appliances like new!!! Laminate flooring throughout (except bathrooms). Breakfast bar with lookout into living room. Relax in the screened porch while getting some fresh air. Enjoy the amenities of Lake Frances estates, including swimming, fishing, and shuffleboard. Ride your golf cart to the local supermarket or go downtown for a walk in the park or dinner and drinks. Lake Frances Estates HOA is ONLY $35.00 monthly!!

6. 2009-03-31
   soldstatus $69,000
7. 2009-03-16
   soldstatus $69,000 1067-char remark

   Show marketing remark (1067 chars)

   GREAT 2 BEDROOM 2 BATH HOME/ LAKE FRANCES ESTATES/ MOTIVATED/ SAYS BRING ALL OFFERS!HUGE 19 X 11 FLORIDA ROOM!1284 SQ FT UNDER AIR! GARDENS, EXTRA SCREEN ROOM 2 WORK SHEDS, ALL APPLIANCES/MOVE IN READY NO REPAIRS NEEDED!BEAUTIFUL DINING ROOM HUTCH! * * * * * * * * * LAKE FRANCES ESTATES FEATURES OLYMPIC POOL. POOL TABLES, SHUFFLEBOARD, RECREATION HALL, ONLY 35$ HOA FEES! THE COMMUNITY IS SUPER FREINDLY!BIGGER YARDS! THE HOME FEATURES GARDENS, CACTUS GARDENS, MANICURED LAWNS, ALL APPLIANCES CONVEY, LAUNDRY ROOM IS BIG ENOUGH FOR A WORK SHED TOO! THE BACK YARD HAS ANOTHER WORK SHED TOO! THE HOME FEATURES A FORMAL DINING AREA( ALSO FURNITURE IS NEGOTIABLE) 19 X 11 FLORIDA ROOM UNDER AIR! SEPERATE SCREENED PATIO TOO! 3 CAR CARPORT! * * * * GRAPEFRUIT TREE, CEILING FANS , IRRIGATION SYSTEM, AWNINGS CONVEY TOO! ALL WINDO TREATMENTS INSIDE STAY TOO! 2ND BEDROOM HAS BEAUTIFUL BUILT IN HUTCH TOO! WITH EXTRARECEPTACLES FOR IN HOUSE OFFICE! * * * * * OWNER SAYS KIDS ARE UP NORTH BRING US AN OFFER WE ARE READY TO GO! THIS HOME IS MOVE IN READY !!

8. 2008-11-07
   listed $72,000 1067-char remark

   Show marketing remark (1067 chars)

   GREAT 2 BEDROOM 2 BATH HOME/ LAKE FRANCES ESTATES/ MOTIVATED/ SAYS BRING ALL OFFERS!HUGE 19 X 11 FLORIDA ROOM!1284 SQ FT UNDER AIR! GARDENS, EXTRA SCREEN ROOM 2 WORK SHEDS, ALL APPLIANCES/MOVE IN READY NO REPAIRS NEEDED!BEAUTIFUL DINING ROOM HUTCH! * * * * * * * * * LAKE FRANCES ESTATES FEATURES OLYMPIC POOL. POOL TABLES, SHUFFLEBOARD, RECREATION HALL, ONLY 35$ HOA FEES! THE COMMUNITY IS SUPER FREINDLY!BIGGER YARDS! THE HOME FEATURES GARDENS, CACTUS GARDENS, MANICURED LAWNS, ALL APPLIANCES CONVEY, LAUNDRY ROOM IS BIG ENOUGH FOR A WORK SHED TOO! THE BACK YARD HAS ANOTHER WORK SHED TOO! THE HOME FEATURES A FORMAL DINING AREA( ALSO FURNITURE IS NEGOTIABLE) 19 X 11 FLORIDA ROOM UNDER AIR! SEPERATE SCREENED PATIO TOO! 3 CAR CARPORT! * * * * GRAPEFRUIT TREE, CEILING FANS , IRRIGATION SYSTEM, AWNINGS CONVEY TOO! ALL WINDO TREATMENTS INSIDE STAY TOO! 2ND BEDROOM HAS BEAUTIFUL BUILT IN HUTCH TOO! WITH EXTRARECEPTACLES FOR IN HOUSE OFFICE! * * * * * OWNER SAYS KIDS ARE UP NORTH BRING US AN OFFER WE ARE READY TO GO! THIS HOME IS MOVE IN READY !!

9. 1998-08-12
   soldstatus $42,800

ⓘ 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: $708 · $59/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$413/yr (+$34/mo · 58.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 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: $20,826
• − Mortgage interest: −$7,562
• − Property taxes: −$708
• − Insurance: −$675
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − HOA: −$624
• − Depreciation: −$3,927
• Taxable income: $3,997
• Est. tax owed @ 24.0%: −$959
• After-tax cash flow: $4,991/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

+215.4% since first listed

9 events — show timeline

• 2026-04-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-29 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 2021-07-07 Sold (MLS) $115,000 Stellar MLS as Distributed by MLS Grid
• 2021-06-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-05-31 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2009-03-31 Sold (Public Records) $69,000 Public Records
• 2009-03-16 Sold (MLS) $69,000 Stellar MLS as Distributed by MLS Grid
• 2008-11-07 Listed $72,000 Stellar MLS as Distributed by MLS Grid
• 1998-08-12 Sold (Public Records) $42,800 Public Records

Property tax history

+7.4%/yr

Latest (2025): $708 · +3.9% YoY. Source: county tax records.