4860 W Pleasant Acres Pl · Lecanto, FL 34461

$115,000

3 bd · 2.0 ba · 924 sqft · Manufactured public records · 24 Days on market

Built 1991

---

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 +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

4860 W. Pleasant Acres PL. , Lecanto, FL 34461 This 1991 Single Family home sits on & Acirc; & frac12; Acre lot, mature trees. On a quiet dead end street. Rural/Suburban setting. Just a couple minutes from Hwy. 589 off FL-44. Near Crystal River/Inverness. Newly renovated throughout in late 2024. Home has a very nice layout of 924 Sq. Ft. You enter through the refurbished screened Lanai, into the open living room, dining area & amp; kitchen. Two bedrooms and a full bathroom on the front end and laundry, master bedroom & amp; full bathroom in the back of the home. New doors, vinyl floors, drywall & amp; paint. Bathrooms have been updated. Appliances are all newly updated.

Key facts

• Open living room
• Updated bathrooms
• New appliances

Tags

• QUIET DEAD END STREET
• REFURBISHED SCREENED LANAI
• OPEN LIVING ROOM
• UPDATED BATHROOMS
• NEW APPLIANCES
• NEWER INSULATED METAL ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $782 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 5.2% in Lecanto — 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 64/100 on livability (#680 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B; Watch: health & safety C-, schools D, employment D.
• Citrus (rural): math 49% / reading 50% proficiency, ranked #44 of 73 in FL (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 197 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% 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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Citrus County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $115k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 1.67% ✓
• Cap rate: 14.46%
• Cash-on-cash: 29.15%
• DSCR: 2.30
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 23.6%
• Equity multiple: 1.97×
• Total profit: $31,186
• Equity at exit: $17,147

10-year hold

• IRR: 31.5%
• Equity multiple: 3.84×
• Total profit: $91,292
• Equity at exit: $9,943

Cash invested: $32,200 (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 34461

• Home prices YoY: -10.2%
• Active inventory: 197
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,925 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$88 /mo · $1,051/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $782

Break-even live

Break-even rent $935

Max offer price $115,000

Occupancy floor 54%

Sensitivity live

Price	-10% $847	-5% $815	+0% $782	+5% $750	+10% $717
Rent	-10% $630	-5% $706	+0% $782	+5% $858	+10% $934
Rate	-1.0pp $840	-0.5pp $812	base $782	+0.5pp $753	+1.0pp $722

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1136 N Tiger Pt Unit 1136 Lecanto, FL	3.0	1.5	1000	$1,495	$1.50	21d	1	0.67mi

Listing history 20 events

1. 2026-06-19
   days on market $115,000 Active 24 DOM
2. 2026-06-18
   days on market $115,000 Active 23 DOM
3. 2026-06-17
   days on market $115,000 Active 22 DOM
4. 2026-06-16
   days on market $115,000 Active 21 DOM
5. 2026-06-15
   days on market $115,000 Active 20 DOM
6. 2026-06-14
   days on market $115,000 Active 18 DOM
7. 2026-06-13
   days on market $115,000 Active 17 DOM
8. 2026-06-09
   days on market $115,000 Active 14 DOM
9. 2026-06-08
   days on market $115,000 Active 13 DOM
10. 2026-06-03
    days on market $115,000 Active 8 DOM
11. 2026-06-02
    days on market $115,000 Active 7 DOM
12. 2026-06-01
    days on market $115,000 Active 6 DOM
13. 2026-05-31
    days on market $115,000 Active 5 DOM
14. 2026-05-30
    days on market $115,000 Active 4 DOM
15. 2026-05-26
    listed $115,000 Active
16. 2007-03-08
    soldstatus $38,000
17. 2004-07-07
    soldstatus $28,000
18. 2004-02-23
    soldstatus $25,000
19. 1997-11-01
    soldstatus $30,000
20. 1981-10-01
    soldstatus $30,000

ⓘ 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: $1,051 · $88/mo
• Projected year-2 tax: $1,051 · $88/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 9/10 Extreme 7 d/yr ≥108°F today · 22 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: $23,101
• − Mortgage interest: −$6,442
• − Property taxes: −$1,051
• − Insurance: −$575
• − Repairs & maintenance: −$1,848
• − Management: −$1,848
• − Depreciation: −$3,345
• Taxable income: $7,992
• Est. tax owed @ 24.0%: −$1,918
• After-tax cash flow: $7,470/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: Citrus
• NCES district ID: 1200270
• Math proficiency: 49% ▼ -10.00%
• Reading proficiency: 50% ▼ -6.00%
• Median HH income: $38,618
• Composite: 41.28/100
• National rank: #3519
• State rank: #44 of 73 in FL

Livability — Lecanto

• Score: 64/100
• State rank: #680
• US rank: #14112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lecanto, FL
• County: Citrus County · 111,314 people
• City population: 13,377
• Metro: Homosassa Springs, FL
• Population (ZIP): 13,377
• Household income: $63,418
• Rent vs Own: 10.7% rent · 89.3% own
• Severe rent burden: 41.0

Population outlook (Citrus County) Hauer SSP2

• Today (2025): 138,622 people
• By 2030: 136,886 · -1.3%
• By 2040: 132,009 · -4.8%
• By 2050: 125,196 · -9.7%
• By 2075: 108,570 · -21.7%
• By 2100: 84,454 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 7% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Citrus

• 2024 margin: Solid R (+45.9) · D 26.8% · R 72.6%
• 2008→2024 swing: -29.8pp toward R · 2008: -16.1pp · 2024: -45.9pp
• All cycles: 2024: R+45.9 2020: R+41.0 2016: R+39.7 2012: R+21.9 2008: R+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.48%
• Current HPI: 258.0866
• Rent YoY: —
• Metro: Homosassa Springs, 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

+283.3% since first listed

6 events — show timeline

• 2026-05-26 Listed $115,000 FSBO.com
• 2007-03-08 Sold (Public Records) $38,000 Public Records
• 2004-07-07 Sold (Public Records) $28,000 Public Records
• 2004-02-23 Sold (Public Records) $25,000 Public Records
• 1997-11-01 Sold (Public Records) $30,000 Public Records
• 1981-10-01 Sold (Public Records) $30,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $1,051 · +10.8% YoY. Source: county tax records.