617 E Myers Blvd · Mascotte, FL 34753

$850,000

2 bd · 1.0 ba · 624 sqft · MultiFamily public records · 82 Days on market

Built 1973 0.44 ac lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.8/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +1.9/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

PREVIOUS MOTEL (2 EFFICIENCIES - $125/WK. EACH, 2 ROOMS, OFFICE & OWNERS 2/1 NOT RENTED), 2/1 DUPLEX - $500/MO. EACH & MOBILE HOME LOT RENT - $100/MO. ) INCOME FROM COIN OPERATED WASHER/DRYER MACHINES - $100-$200/MONTH.

Key facts

• Accessible location
• Mobile home
• Primary rental units

Tags

• 8 UNITS
• MOBILE HOME
• PRIMARY RENTAL UNITS
• ATTACHED MOBILE HOME
• INCOME PRODUCING UNITS
• ACCESSIBLE LOCATION

Property features AI

Finance

• Other: Living area reported as 4,388 sq ft
• Financial info: Annual net income: $5,456.60; Pro forma rents by unit type: 1-bedroom $2,950 (4 units), 2-bedroom $1,800 (3 units), 3-bedroom $1,200 (1 unit)
• HOA & community: No association

Exterior

• Utilities: Water from well; Septic tank sewer; Other utilities
• Home design: Residential income property (Triplex); One level; Property condition: Fixer; Zoned CG
• Construction: Construction materials: Other; Roof: Other; Foundation: Other
• Exterior features: Other exterior features; Three buildings on the property; Lot approximately 0.44 acres (60 x 207)

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: 13 total bedrooms (across units)
• Bathrooms: Units include one bathroom each
• Heating & cooling: Other heating; Other cooling
• Interior features: Other interior features
• Laundry & utility: Laundry features: Other

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/?-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $-693 ($-8k/yr) — negative. Per door: $-173/mo.
• To cash-flow at today's rent, offer at most $728k (14.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $584k (31.3% below list).
• Recommended offer: $584k (31.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#405 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: 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: Mascotte Elementary School (math 50% / reading 47%, grade D, #1,152 of 2,144 statewide, top 55%, 855 students, 62% FRL, charter); Gray Middle School (math 45% / reading 45%, grade D, #310 of 571 statewide, top 56%, 1,148 students, 47% FRL); South Lake High School (math 36% / reading 39%, grade F, #336 of 667 statewide, top 51%, 2,169 students, 40% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 98 active listings in the ZIP; solid renter incomes; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• At $5,842/mo this rent would consume 84% of the median local household income ($84k/yr) (locally 16% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $91k of equity ($6k loan paydown + $85k appreciation (10.0% local appreciation)).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$146k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($799k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 20y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $584,200 (31.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.69% ✗
• Cap rate: 5.31%
• Cash-on-cash: -3.49%
• DSCR: 0.84
• GRM: 12.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.8%
• Equity multiple: 2.76×
• Total profit: $418,546
• Equity at exit: $765,747

10-year hold

• IRR: 19.6%
• Equity multiple: 6.32×
• Total profit: $1,266,733
• Equity at exit: $1,651,363

Cash invested: $238,000 (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 34753

• Home prices YoY: 7.2%
• Active inventory: 98
• Price-to-rent: 48.5×

Monthly cashflow live

• Estimated rent: $5,842 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$496 /mo · $5,956/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,227
• Net cashflow: $-693

Break-even live

Break-even rent $6,719

Max offer price $727,608

Occupancy floor —

Sensitivity live

Price	-10% $-212	-5% $-452	+0% $-693	+5% $-933	+10% $-1,174
Rent	-10% $-1,154	-5% $-924	+0% $-693	+5% $-462	+10% $-231
Rate	-1.0pp $-265	-0.5pp $-477	base $-693	+0.5pp $-913	+1.0pp $-1,137

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	—	$5,840
Total (4 units)			$5,842

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-06-21
   days on market $850,000 Active 82 DOM
2. 2026-06-18
   days on market $850,000 Active 79 DOM
3. 2026-06-17
   days on market $850,000 Active 78 DOM
4. 2026-06-16
   days on market $850,000 Active 77 DOM
5. 2026-06-15
   days on market $850,000 Active 76 DOM
6. 2026-06-13
   days on market $850,000 Active 74 DOM
7. 2026-06-09
   days on market $850,000 Active 70 DOM
8. 2026-06-08
   days on market $850,000 Active 69 DOM
9. 2026-06-07
   days on market $850,000 Active 68 DOM
10. 2026-06-04
    days on market $850,000 Active 65 DOM
11. 2026-06-03
    days on market $850,000 Active 64 DOM
12. 2026-06-02
    days on market $850,000 Active 63 DOM
13. 2026-06-01
    days on market $850,000 Active 62 DOM
14. 2026-05-31
    days on market $850,000 Active 61 DOM
15. 2026-03-31
    listed $850,000 Active
16. 2026-02-09
    historical $900
17. 2026-02-06
    listed $900
18. 2025-01-10
    historical $750
19. 2025-01-10
    listed $750
20. 2025-01-08
    historical $750
21. 2024-12-08
    listed $750
22. 2024-12-01
    historical $750
23. 2024-11-07
    historical $750
24. 2024-11-07
    listed $750
25. 2024-11-02
    listed $750
26. 2024-11-02
    historical $750
27. 2024-10-29
    historical $750
28. 2024-10-28
    listed $750
29. 2024-10-24
    listed $750
30. 2024-10-17
    historical $920
31. 2024-10-17
    historical $920
32. 2024-10-17
    listed $920
33. 2024-09-28
    historical $920
34. 2024-09-28
    listed $920
35. 2024-09-13
    listed $750
36. 2024-09-11
    historical $750
37. 2024-09-05
    listed $750
38. 2024-07-23
    soldstatus $808,500
39. 2007-10-30
    soldstatus $390,000
40. 2007-01-05
    soldstatus $420,000
41. 2006-12-13
    soldstatus $420,000 233-char remark

    Show marketing remark (233 chars)

    PREVIOUS MOTEL (2 EFFICIENCIES - $125/WK. EACH, 2 ROOMS, OFFICE & OWNERS 2/1 NOT RENTED), 2/1 DUPLEX - $500/MO. EACH & MOBILE HOME LOT RENT - $100/MO. ) INCOME FROM COIN OPERATED WASHER/DRYER MACHINES - $100-$200/MONTH.

42. 2006-03-13
    listed $474,900 233-char remark

    Show marketing remark (233 chars)

    PREVIOUS MOTEL (2 EFFICIENCIES - $125/WK. EACH, 2 ROOMS, OFFICE & OWNERS 2/1 NOT RENTED), 2/1 DUPLEX - $500/MO. EACH & MOBILE HOME LOT RENT - $100/MO. ) INCOME FROM COIN OPERATED WASHER/DRYER MACHINES - $100-$200/MONTH.

ⓘ 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: $5,956 · $496/mo
• Projected year-2 tax: $7,055 · $588/mo
• Expected delta: +$1,099/yr (+$92/mo · 18.4%)

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 6 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,104
• − Mortgage interest: −$47,613
• − Property taxes: −$5,956
• − Insurance: −$4,250
• − Repairs & maintenance: −$5,608
• − Management: −$5,608
• − Depreciation: −$24,727
• Taxable loss: −$23,659
• Est. tax savings @ 24.0%: +$5,678
• After-tax cash flow: $-2,636/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 — Mascotte

• Score: 71/100
• State rank: #405
• US rank: #7156

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mascotte, FL
• County: Lake County · 364,602 people
• City population: 33,565
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 7,985
• Household income: $83,868
• Rent vs Own: 22.5% rent · 77.5% own
• Severe rent burden: 16.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 38% Hispanic / Latino 35% Two or more races 25% Black 20% Asian 3%
• Hispanic origin (detail): Mexican 11% Puerto Rican 12% Dominican 2%
• Common ancestry: Slovak 1% Serbian 1% Romanian 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 67% English-only · Spanish 32%

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: ▲ 19.01%
• Current HPI: 281.96
• 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

Price history

+79.0% since first listed

28 events — show timeline

• 2026-03-31 Listed $850,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-09 Rental Removed $900 RENTALBEAST
• 2026-02-06 Listed for Rent $900 RENTALBEAST
• 2025-01-10 Rental Removed $750 RENTALBEAST
• 2025-01-10 Listed for Rent $750 RENTALBEAST
• 2025-01-08 Rental Removed $750 LEASESTAR
• 2024-12-08 Listed for Rent $750 LEASESTAR
• 2024-12-01 Rental Removed $750 LEASESTAR
• 2024-11-07 Rental Removed $750 RENTALBEAST
• 2024-11-07 Listed for Rent $750 LEASESTAR
• 2024-11-02 Listed for Rent $750 RENTALBEAST
• 2024-11-02 Rental Removed $750 LEASESTAR
• 2024-10-29 Rental Removed $750 RENTALBEAST
• 2024-10-28 Listed for Rent $750 RENTALBEAST
• 2024-10-24 Listed for Rent $750 LEASESTAR
• 2024-10-17 Rental Removed $920 LEASESTAR
• 2024-10-17 Rental Removed $920 RENTALBEAST
• 2024-10-17 Listed for Rent $920 LEASESTAR
• 2024-09-28 Rental Removed $920 RENTALBEAST
• 2024-09-28 Listed for Rent $920 RENTALBEAST
• 2024-09-13 Listed for Rent $750 RENTALBEAST
• 2024-09-11 Rental Removed $750 RENTALBEAST
• 2024-09-05 Listed for Rent $750 RENTALBEAST
• 2024-07-23 Sold (Public Records) $808,500 Public Records
• 2007-10-30 Sold (Public Records) $390,000 Public Records
• 2007-01-05 Sold (Public Records) $420,000 Public Records
• 2006-12-13 Sold (MLS) $420,000 Stellar MLS as Distributed by MLS Grid
• 2006-03-13 Listed $474,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2025): $5,956 · -13.5% YoY. Source: county tax records.