8040 Cessna Dr · Spring Hill, FL 34606

$194,900

2 bd · 2.0 ba · 1,304 sqft · Manufactured public records · 2 Days on market

Built 1993 1.05 ac lot Est $183k · 7% over

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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 +22.8/30.0
• DSCR +7.3/10.0
• 1% rule +5.0/10.0
• ARV discount +4.5/15.0
• 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

Experience True Privacy and Comfort with this Beautifully Updated 3-bedroom, 2-bathroom home 1300+ Living Sf, Nestled on 1.05 Acre of land-125'x367'. Home 27x48 With 12x14 Screened In Porch This Property Move-in Ready and Ideal for Both everyday Living and Entertaining. Roof-6/25, New 40 Gal HWH-2026, All New Plumbing 2026, New Showers-2026 & Bathroom Vanities. , Indoor Laundry, Water Softener, Two 10x10 Sheds W Electric. Two 20'x20' Carports for the Toys Recent upgrades include a brand-new roof, new hot water heater, and completely updated plumbing throughout the home. Inside, you'll find refreshed bathrooms with modern showers, stylish new flooring, and fresh paint that creates a clean, inviting atmosphere. Conveniently located near all the amenities of Spring Hill, 10 Min from Weeki Wachee River, 20 Min from Pine Island Beach this home offers the perfect balance of peaceful seclusion and easy access to shopping, dining, and services. For those who need extra space, the property features two spacious carports--perfect for boats, RVs, or additional vehicles. Additional highlights include a Private Well a newer well pump, and an air tank--providing added efficiency and reliability. This property truly has it all--space, upgrades, and versatility. Don't miss the opportunity to make it yours.

Key facts

• Screened in porch
• Water softener
• Two carports

Tags

• UPDATED HOME
• SCREENED IN PORCH
• INDOOR LAUNDRY
• WATER SOFTENER
• TWO SHEDS WITH ELECTRIC
• TWO CARPORTS

Property features AI

Finance

• Other: Homestead exempt; Zoned R1A
• HOA & community: No association

Exterior

• Parking: Driveway; RV access/parking; Carport with 4 spaces
• Utilities: Private water from well; Septic tank; Electricity connected; Water connected; Cable available
• Home design: Residential modular home; Attached property; One story; Home faces north; Completed condition
• Construction: Vinyl siding with frame construction; Shingle roof; Pillar/post/pier foundation; Built on one level
• Exterior features: Covered patio/porch and deck; Front porch; Patio; Porch; Private mailbox; Rain gutters; Outdoor storage (shed)

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Cathedral and vaulted ceilings; Ceiling fans; Walk-in closet(s); Window treatments (drapes, shades)
• Laundry & utility: Inside laundry with electric dryer hookup; Inside utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (0.3% below list).
• Recommended offer: $194k (0.3% below list) — sets the bar for 1% rule.
• Cap rate 8.4% 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.
• Zoned schools: Deltona Elementary School (math 45% / reading 50%, grade D, #1,182 of 2,144 statewide, top 55%, 843 students, 72% FRL); Central High School (math 34% / reading 44%, grade F, #312 of 667 statewide, top 48%, 1,426 students, 53% FRL).
• Market conditions: Rents soft (-0.9%/yr); 386 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• This rent runs 41% 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 $6k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $105k; list at $195k implies a 86% 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; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,280 (0.3% 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. 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.
3. 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.
4. 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: 1.00% ✗
• Cap rate: 8.38%
• Cash-on-cash: 7.44%
• DSCR: 1.33
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $182,560
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3343 Ballard St	0.12mi	3/3.0 (+1)	1,350 (+4%)	14mo	$206,000	$153	68
3236 Painters St	0.27mi	3/2.0 (+1)	1,250 (-4%)	10mo	$120,000	$96	67
3309 Susan Dr	0.44mi	3/2.0 (+1)	1,296 (-1%)	17mo	$224,000	$173	59
3249 Susan Dr	0.53mi	3/2.0 (+1)	1,380 (+6%)	3mo	$145,000	$105	58
3263 Morrison Way	0.67mi	3/2.0 (+1)	1,216 (-7%)	12mo	$170,000	$140	42

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: -8.1%
• Equity multiple: 0.71×
• Total profit: $-15,794
• Equity at exit: $29,060

10-year hold

• IRR: -2.6%
• Equity multiple: 0.85×
• Total profit: $-8,270
• Equity at exit: $16,851

Cash invested: $54,572 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,943 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$93 /mo · $1,119/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $338

Break-even live

Break-even rent $1,515

Max offer price $194,900

Occupancy floor 78%

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7483 Apache Trl Spring Hill, FL	3.0	2.0	1587	$1,795	$1.13	5d	1	0.20mi
7423 Apache Trl Spring Hill, FL	3.0	2.0	1711	$2,200	$1.29	24d	1	0.29mi
7410 Cherokee Trl Spring Hill, FL	3.0	2.0	1196	$1,725	$1.44	12d	1	0.35mi
7423 Mohawk Trl Spring Hill, FL	3.0	2.0	1114	$1,795	$1.61	17d	1	0.39mi
7369 Sealawn Dr Spring Hill, FL	2.0	2.0	1154	$2,500	$2.17	3d	1	0.45mi
4108 Monona Ave Spring Hill, FL	3.0	2.0	1508	$1,900	$1.26	24d	1	0.50mi
7272 Apache Trl Spring Hill, FL	3.0	2.0	1408	$2,650	$1.88	24d	1	0.53mi
3191 Deltona Blvd Spring Hill, FL	3.0	2.0	1366	$1,815	$1.33	24d	1	0.57mi
8316 Nevada St Spring Hill, FL	2.0	1.0	1722	$2,100	$1.22	24d	1	0.95mi
4300 Bridgewater Club Loop Spring Hill, FL	2.0–4.0	2.0–3.0	1214	$1,268	$1.04	1d	13	1.02mi
8397 Coral St Spring Hill, FL	3.0	2.0	1202	$1,689	$1.41	2d	1	1.03mi
8513 Beach Rd Spring Hill, FL	3.0	2.0	1378	$1,990	$1.44	17d	1	1.11mi
4398 Plumosa St Spring Hill, FL	3.0	2.0	1646	$1,985	$1.21	24d	1	1.16mi
4628 Bayridge Ct Spring Hill, FL	3.0	2.0	1756	$1,995	$1.14	4d	1	1.26mi
9483 Bayside Ct Spring Hill, FL	3.0	2.0	1788	$1,911	$1.07	5d	1	1.41mi

Listing history 7 events

1. 2026-05-07
   status Pending 1323-char remark

   Show marketing remark (1323 chars)

   Experience True Privacy and Comfort with this Beautifully Updated 3-bedroom, 2-bathroom home 1300+ Living Sf, Nestled on 1.05 Acre of land-125'x367'. Home 27x48 With 12x14 Screened In Porch This Property Move-in Ready and Ideal for Both everyday Living and Entertaining. Roof-6/25, New 40 Gal HWH-2026, All New Plumbing 2026, New Showers-2026 & Bathroom Vanities. , Indoor Laundry, Water Softener, Two 10x10 Sheds W Electric. Two 20'x20' Carports for the Toys Recent upgrades include a brand-new roof, new hot water heater, and completely updated plumbing throughout the home. Inside, you'll find refreshed bathrooms with modern showers, stylish new flooring, and fresh paint that creates a clean, inviting atmosphere. Conveniently located near all the amenities of Spring Hill, 10 Min from Weeki Wachee River, 20 Min from Pine Island Beach this home offers the perfect balance of peaceful seclusion and easy access to shopping, dining, and services. For those who need extra space, the property features two spacious carports--perfect for boats, RVs, or additional vehicles. Additional highlights include a Private Well a newer well pump, and an air tank--providing added efficiency and reliability. This property truly has it all--space, upgrades, and versatility. Don't miss the opportunity to make it yours.

2. 2026-05-07
   status Pending

   Show marketing remark (1323 chars)

   Experience True Privacy and Comfort with this Beautifully Updated 3-bedroom, 2-bathroom home 1300+ Living Sf, Nestled on 1.05 Acre of land-125'x367'. Home 27x48 With 12x14 Screened In Porch This Property Move-in Ready and Ideal for Both everyday Living and Entertaining. Roof-6/25, New 40 Gal HWH-2026, All New Plumbing 2026, New Showers-2026 & Bathroom Vanities. , Indoor Laundry, Water Softener, Two 10x10 Sheds W Electric. Two 20'x20' Carports for the Toys Recent upgrades include a brand-new roof, new hot water heater, and completely updated plumbing throughout the home. Inside, you'll find refreshed bathrooms with modern showers, stylish new flooring, and fresh paint that creates a clean, inviting atmosphere. Conveniently located near all the amenities of Spring Hill, 10 Min from Weeki Wachee River, 20 Min from Pine Island Beach this home offers the perfect balance of peaceful seclusion and easy access to shopping, dining, and services. For those who need extra space, the property features two spacious carports--perfect for boats, RVs, or additional vehicles. Additional highlights include a Private Well a newer well pump, and an air tank--providing added efficiency and reliability. This property truly has it all--space, upgrades, and versatility. Don't miss the opportunity to make it yours.

3. 2026-05-05
   listed $194,900 Active 1323-char remark

   Show marketing remark (1323 chars)

   Experience True Privacy and Comfort with this Beautifully Updated 3-bedroom, 2-bathroom home 1300+ Living Sf, Nestled on 1.05 Acre of land-125'x367'. Home 27x48 With 12x14 Screened In Porch This Property Move-in Ready and Ideal for Both everyday Living and Entertaining. Roof-6/25, New 40 Gal HWH-2026, All New Plumbing 2026, New Showers-2026 & Bathroom Vanities. , Indoor Laundry, Water Softener, Two 10x10 Sheds W Electric. Two 20'x20' Carports for the Toys Recent upgrades include a brand-new roof, new hot water heater, and completely updated plumbing throughout the home. Inside, you'll find refreshed bathrooms with modern showers, stylish new flooring, and fresh paint that creates a clean, inviting atmosphere. Conveniently located near all the amenities of Spring Hill, 10 Min from Weeki Wachee River, 20 Min from Pine Island Beach this home offers the perfect balance of peaceful seclusion and easy access to shopping, dining, and services. For those who need extra space, the property features two spacious carports--perfect for boats, RVs, or additional vehicles. Additional highlights include a Private Well a newer well pump, and an air tank--providing added efficiency and reliability. This property truly has it all--space, upgrades, and versatility. Don't miss the opportunity to make it yours.

4. 2026-05-05
   listed $194,900 Active

   Show marketing remark (1323 chars)

   Experience True Privacy and Comfort with this Beautifully Updated 3-bedroom, 2-bathroom home 1300+ Living Sf, Nestled on 1.05 Acre of land-125'x367'. Home 27x48 With 12x14 Screened In Porch This Property Move-in Ready and Ideal for Both everyday Living and Entertaining. Roof-6/25, New 40 Gal HWH-2026, All New Plumbing 2026, New Showers-2026 & Bathroom Vanities. , Indoor Laundry, Water Softener, Two 10x10 Sheds W Electric. Two 20'x20' Carports for the Toys Recent upgrades include a brand-new roof, new hot water heater, and completely updated plumbing throughout the home. Inside, you'll find refreshed bathrooms with modern showers, stylish new flooring, and fresh paint that creates a clean, inviting atmosphere. Conveniently located near all the amenities of Spring Hill, 10 Min from Weeki Wachee River, 20 Min from Pine Island Beach this home offers the perfect balance of peaceful seclusion and easy access to shopping, dining, and services. For those who need extra space, the property features two spacious carports--perfect for boats, RVs, or additional vehicles. Additional highlights include a Private Well a newer well pump, and an air tank--providing added efficiency and reliability. This property truly has it all--space, upgrades, and versatility. Don't miss the opportunity to make it yours.

5. 2026-03-04
   soldstatus $105,000
6. 1992-03-11
   soldstatus $13,000
7. 1989-10-01
   soldstatus $12,000

ⓘ 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: $1,119 · $93/mo
• Projected year-2 tax: $1,618 · $135/mo
• Expected delta: +$499/yr (+$42/mo · 44.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥110°F today · 22 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: $23,314
• − Mortgage interest: −$10,917
• − Property taxes: −$1,119
• − Insurance: −$974
• − Repairs & maintenance: −$1,865
• − Management: −$1,865
• − Depreciation: −$5,670
• Taxable income: $903
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $3,843/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

+1524.2% since first listed

7 events — show timeline

• 2026-05-07 Pending — HCAR
• 2026-05-07 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-05 Listed $194,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-05 Listed $194,900 HCAR
• 2026-03-04 Sold (Public Records) $105,000 Public Records
• 1992-03-11 Sold (Public Records) $13,000 Public Records
• 1989-10-01 Sold (Public Records) $12,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $1,119 · +1.2% YoY. Source: county tax records.