3340 Painters St · Spring Hill, FL 34606

$165,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records

Built 1973 Est $161k · at est.

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• ARV discount +6.5/15.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One or more photo(s) has been virtually staged. Welcome Home to this adorable, beautifully remodeled 3 bedroom 2 bath mobile home. There's plenty of room to park your boat or RV and offers covered parking and storage. The large screened in front porch is great for morning coffee or entertaining friends & family. Open concept with the kitchen right at the heart of the home with brand new cabinets, flooring and appliances. Large living area that boasts with natural sunlight. Newly updated master bedroom and bath. Quiet neighborhood. You'll appreciate the short drive to hwy 19 for all your shopping, dining and entertainment needs. Close to Weekiwachee River, waterparks & more. Bring your Smores to the Campfire and enjoy the stars with peace & serenity that this property indulges.

Key facts

• Built 1973

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 10.5% vs local median 4.4% in Spring Hill — 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 63/100 on livability (#738 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Hernando (suburban): math 50% / reading 50% proficiency, ranked #38 of 73 in FL (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.9%/yr); 386 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• This rent runs 43% of the median local income ($57k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 8y 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; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.23% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.90%
• DSCR: 1.66
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $161,280
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3236 Painters St	0.21mi	3/2.0	1,250 (+8%)	10mo	$120,000	$96	68
3307 Keye Dr	0.68mi	2/2.0 (-1)	1,144 (-1%)	4mo	$240,000	$210	59
7212 Toucan Trl	0.55mi	2/2.0 (-1)	1,104 (-4%)	5mo	$120,000	$109	58
3263 Morrison Way	0.57mi	3/2.0	1,216 (+6%)	12mo	$170,000	$140	54
3309 Susan Dr	0.34mi	3/2.0	1,296 (+12%)	17mo	$224,000	$173	49
3382 Fiskway St	0.72mi	3/2.0	1,248 (+8%)	10mo	$169,900	$136	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.08×
• Total profit: $3,818
• Equity at exit: $24,602

10-year hold

• IRR: 8.8%
• Equity multiple: 1.59×
• Total profit: $27,230
• Equity at exit: $14,266

Cash invested: $46,200 (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 34606

• Home prices YoY: -24.7%
• Rents YoY: -0.9%
• Active inventory: 386
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,031 high
• Mortgage (P&I): −$865
• Tax from tax record: −$97 /mo · $1,160/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $574

Break-even live

Break-even rent $1,305

Max offer price $165,000

Occupancy floor 67%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3204 Painters St Spring Hill, FL	2.0	2.0	749	$1,300	$1.74	11d	1	0.28mi
7410 Cherokee Trl Spring Hill, FL	3.0	2.0	1196	$1,725	$1.44	12d	1	0.31mi
7423 Mohawk Trl Spring Hill, FL	3.0	2.0	1114	$1,795	$1.61	17d	1	0.36mi
7369 Sealawn Dr Spring Hill, FL	2.0	2.0	1154	$2,500	$2.17	3d	1	0.41mi
7272 Apache Trl Spring Hill, FL	3.0	2.0	1408	$2,650	$1.88	24d	1	0.47mi
3191 Deltona Blvd Spring Hill, FL	3.0	2.0	1366	$1,815	$1.33	24d	1	0.62mi
4300 Bridgewater Club Loop Spring Hill, FL	2.0–4.0	2.0–3.0	1214	$1,396	$1.15	1d	13	1.00mi
8397 Coral St Spring Hill, FL	3.0	2.0	1202	$1,689	$1.41	2d	1	1.07mi
8513 Beach Rd Spring Hill, FL	3.0	2.0	1378	$1,990	$1.44	17d	1	1.15mi

Listing history 14 events

1. 2026-05-26
   listed $165,000
2. 2024-03-08
   soldstatus $180,000 Closed 805-char remark

   Show marketing remark (805 chars)

   One or more photo(s) has been virtually staged. Welcome Home to this adorable, beautifully remodeled 3 bedroom 2 bath mobile home. There's plenty of room to park your boat or RV and offers covered parking and storage. The large screened in front porch is great for morning coffee or entertaining friends & family. Open concept with the kitchen right at the heart of the home with brand new cabinets, flooring and appliances. Large living area that boasts with natural sunlight. Newly updated master bedroom and bath. Quiet neighborhood. You'll appreciate the short drive to hwy 19 for all your shopping, dining and entertainment needs. Close to Weekiwachee River, waterparks & more. Bring your Smores to the Campfire and enjoy the stars with peace & serenity that this property indulges.

3. 2024-02-17
   status Pending 805-char remark

   Show marketing remark (805 chars)

   One or more photo(s) has been virtually staged. Welcome Home to this adorable, beautifully remodeled 3 bedroom 2 bath mobile home. There's plenty of room to park your boat or RV and offers covered parking and storage. The large screened in front porch is great for morning coffee or entertaining friends & family. Open concept with the kitchen right at the heart of the home with brand new cabinets, flooring and appliances. Large living area that boasts with natural sunlight. Newly updated master bedroom and bath. Quiet neighborhood. You'll appreciate the short drive to hwy 19 for all your shopping, dining and entertainment needs. Close to Weekiwachee River, waterparks & more. Bring your Smores to the Campfire and enjoy the stars with peace & serenity that this property indulges.

4. 2024-02-14
   price $185,000 805-char remark

   Show marketing remark (805 chars)

   One or more photo(s) has been virtually staged. Welcome Home to this adorable, beautifully remodeled 3 bedroom 2 bath mobile home. There's plenty of room to park your boat or RV and offers covered parking and storage. The large screened in front porch is great for morning coffee or entertaining friends & family. Open concept with the kitchen right at the heart of the home with brand new cabinets, flooring and appliances. Large living area that boasts with natural sunlight. Newly updated master bedroom and bath. Quiet neighborhood. You'll appreciate the short drive to hwy 19 for all your shopping, dining and entertainment needs. Close to Weekiwachee River, waterparks & more. Bring your Smores to the Campfire and enjoy the stars with peace & serenity that this property indulges.

5. 2024-01-26
   price $199,000 805-char remark

   Show marketing remark (805 chars)

   One or more photo(s) has been virtually staged. Welcome Home to this adorable, beautifully remodeled 3 bedroom 2 bath mobile home. There's plenty of room to park your boat or RV and offers covered parking and storage. The large screened in front porch is great for morning coffee or entertaining friends & family. Open concept with the kitchen right at the heart of the home with brand new cabinets, flooring and appliances. Large living area that boasts with natural sunlight. Newly updated master bedroom and bath. Quiet neighborhood. You'll appreciate the short drive to hwy 19 for all your shopping, dining and entertainment needs. Close to Weekiwachee River, waterparks & more. Bring your Smores to the Campfire and enjoy the stars with peace & serenity that this property indulges.

6. 2024-01-10
   listed $205,000 Active 805-char remark

   Show marketing remark (805 chars)

   One or more photo(s) has been virtually staged. Welcome Home to this adorable, beautifully remodeled 3 bedroom 2 bath mobile home. There's plenty of room to park your boat or RV and offers covered parking and storage. The large screened in front porch is great for morning coffee or entertaining friends & family. Open concept with the kitchen right at the heart of the home with brand new cabinets, flooring and appliances. Large living area that boasts with natural sunlight. Newly updated master bedroom and bath. Quiet neighborhood. You'll appreciate the short drive to hwy 19 for all your shopping, dining and entertainment needs. Close to Weekiwachee River, waterparks & more. Bring your Smores to the Campfire and enjoy the stars with peace & serenity that this property indulges.

7. 2022-12-12
   soldstatus $83,000
8. 2018-07-13
   soldstatus $50,000
9. 2018-07-09
   soldstatus $50,000 315-char remark

   Show marketing remark (315 chars)

   UNDER CONTRACT! Check out this newly renovated manufactured home! This 3 bedroom 2 bathroom home sits on a beautiful lot in a quiet neighborhood. It features 1152 sq feet, brand new flooring, a screened in porch, covered parking, and attached storage. Schedule your private showing to see this gem before it's gone!

10. 2018-07-06
    soldstatus $50,000
11. 2018-07-06
    soldstatus $50,000
12. 2018-01-15
    listed $54,000

    Show marketing remark (315 chars)

    UNDER CONTRACT! Check out this newly renovated manufactured home! This 3 bedroom 2 bathroom home sits on a beautiful lot in a quiet neighborhood. It features 1152 sq feet, brand new flooring, a screened in porch, covered parking, and attached storage. Schedule your private showing to see this gem before it's gone!

13. 2018-01-15
    listed $54,000 315-char remark

    Show marketing remark (315 chars)

    UNDER CONTRACT! Check out this newly renovated manufactured home! This 3 bedroom 2 bathroom home sits on a beautiful lot in a quiet neighborhood. It features 1152 sq feet, brand new flooring, a screened in porch, covered parking, and attached storage. Schedule your private showing to see this gem before it's gone!

14. 2018-01-15
    listed $54,000

    Show marketing remark (315 chars)

    UNDER CONTRACT! Check out this newly renovated manufactured home! This 3 bedroom 2 bathroom home sits on a beautiful lot in a quiet neighborhood. It features 1152 sq feet, brand new flooring, a screened in porch, covered parking, and attached storage. Schedule your private showing to see this gem before it's gone!

ⓘ 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: $1,160 · $97/mo
• Projected year-2 tax: $1,370 · $114/mo
• Expected delta: +$210/yr (+$17/mo · 18.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,371
• − Mortgage interest: −$9,243
• − Property taxes: −$1,160
• − Insurance: −$825
• − Repairs & maintenance: −$1,950
• − Management: −$1,950
• − Depreciation: −$4,800
• Taxable income: $4,445
• Est. tax owed @ 24.0%: −$1,067
• After-tax cash flow: $5,819/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: Hernando
• NCES district ID: 1200810
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $41,985
• Composite: 42.03/100
• National rank: #3329
• State rank: #38 of 73 in FL

Livability — Spring Hill

• Score: 63/100
• State rank: #738
• US rank: #15937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Hill, FL
• County: Hernando County · 169,677 people
• City population: 83,915
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 28,668
• Household income: $57,337
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 733.0

Population outlook (Hernando County) Hauer SSP2

• Today (2025): 189,218 people
• By 2030: 194,367 · +2.7%
• By 2040: 203,398 · +7.5%
• By 2050: 209,589 · +10.8%
• By 2075: 218,452 · +15.4%
• By 2100: 205,923 · +8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 13% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 10% Cuban 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 87% English-only · Spanish 11% German/W. Germanic 1%

Political lean MEDSL · Hernando

• 2024 margin: Solid R (+37.0) · D 31.1% · R 68.2%
• 2008→2024 swing: -33.5pp toward R · 2008: -3.6pp · 2024: -37.0pp
• All cycles: 2024: R+37.0 2020: R+30.2 2016: R+29.0 2012: R+8.5 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.11%
• Current HPI: 298.5201
• Rent YoY: ▼ -0.89%
• Metro: Tampa-St. Petersburg-Clearwater, 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

+205.6% since first listed

14 events — show timeline

• 2026-05-26 Listed $165,000 FSBO.com
• 2024-03-08 Sold (MLS) $180,000 Stellar MLS as Distributed by MLS Grid
• 2024-02-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-02-14 Price Changed $185,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-26 Price Changed $199,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-10 Listed $205,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-12 Sold (Public Records) $83,000 Public Records
• 2018-07-13 Sold (Public Records) $50,000 Public Records
• 2018-07-09 Sold (MLS) $50,000 Stellar MLS as Distributed by MLS Grid
• 2018-07-06 Sold (MLS) $50,000 St. Augustine and St. Johns County Board of REALTORS®
• 2018-07-06 Sold (MLS) $50,000 HCAR
• 2018-01-15 Listed $54,000 St. Augustine and St. Johns County Board of REALTORS®
• 2018-01-15 Listed $54,000 Stellar MLS as Distributed by MLS Grid
• 2018-01-15 Listed $54,000 HCAR

Property tax history

+6.4%/yr

Latest (2025): $1,160 · -32.1% YoY. Source: county tax records.