60 S Thayer Ave · Lecanto, FL 34461

$259,900

3 bd · 2.0 ba · 1,500 sqft · Manufactured · 12 Days on market

Built 2026 Excellent condition 0.71 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).

• Cash flow +12.3/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.1/10.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One or more photo(s) has been virtually staged. Don't miss the opportunity to call this Brand New 3-bedroom, 2-bath home on . 71 acres yours! The open-concept design is filled with natural light and features large kitchen with island, lots of cabinets storage, walk in pantry, and stainless appliances, open to large family room and dining room, make this home perfect for entertaining family and friends. The master suite is a peaceful retreat with double vanity, tiled shower, separate free-standing tub and large walk-in closet. The spilt bedroom plan offers privacy for your family and guests. There is no HOA so you can bring your boat and other toys. Come enjoy all that Citrus County has to o

Key facts

• Master suite
• Large family room
• Stainless appliances

Tags

• OPEN CONCEPT DESIGN
• LARGE KITCHEN WITH ISLAND
• WALK IN PANTRY
• STAINLESS APPLIANCES
• LARGE FAMILY ROOM
• MASTER SUITE

Property features AI

Exterior

• Parking: Gravel driveway
• Utilities: Private well water; Septic tank sewer
• Home design: Manufactured home (double wide); Single-story; New construction
• Construction: Built as new construction; Double wide manufactured construction
• Exterior features: Asphalt shingle roof; Cleared, level and wooded lot; Paved road access; No pool

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: Primary bedroom on main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Laminate countertops; Open floor plan; Pantry; Walk-in closet(s); Primary bedroom on main level; Blinds and window coverings

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $260k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-46 ($-552/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (14.8% below list).
• Recommended offer: $222k (14.8% below list) — sets the bar for 1% rule.

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-, employment D, amenities F.
• 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.
• Zoned schools: Lecanto Primary School (math 55% / reading 53%, grade C, #936 of 2,144 statewide, top 44%, 820 students, 63% FRL); Lecanto Middle School (math 49% / reading 49%, grade C-, #265 of 571 statewide, top 48%, 809 students, 55% FRL); Lecanto High School (math 46% / reading 53%, grade D, #179 of 667 statewide, top 29%, 1,630 students, 46% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 199 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $221,528 (14.8% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.76%
• DSCR: 0.97
• GRM: 9.8

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: -17.5%
• Equity multiple: 0.38×
• Total profit: $-45,014
• Equity at exit: $38,752

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-42,837
• Equity at exit: $22,471

Cash invested: $72,772 (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: 199
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,215 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $-46

Break-even live

Break-even rent $2,274

Max offer price $253,238

Occupancy floor 97%

Sensitivity live

Price	-10% $134	-5% $44	+0% $-46	+5% $-136	+10% $-226
Rent	-10% $-221	-5% $-134	+0% $-46	+5% $41	+10% $129
Rate	-1.0pp $85	-0.5pp $20	base $-46	+0.5pp $-113	+1.0pp $-182

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 S Allman Ter Lecanto, FL	3.0	2.0	1440	$1,500	$1.04	23d	1	0.64mi
100 E Knightsbridge Pl Lecanto, FL	3.0	2.0	1600	$1,675	$1.05	23d	1	0.68mi
1130 W Olympia St Hernando, FL	3.0	2.0	1858	$2,700	$1.45	23d	1	1.01mi
1024 W Beagle Run Loop Hernando, FL	3.0	2.5	2177	$3,500	$1.61	23d	1	1.50mi

Listing history 6 events

1. 2026-06-03
   days on market $259,900 Active 12 DOM
2. 2026-06-02
   days on market $259,900 Active 11 DOM
3. 2026-06-01
   days on market $259,900 Active 10 DOM
4. 2026-05-31
   days on market $259,900 Active 9 DOM
5. 2026-05-30
   days on market $259,900 Active 8 DOM
6. 2026-05-22
   listed $259,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,583
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,127
• − Management: −$2,127
• − Depreciation: −$7,561
• Taxable loss: −$4,987
• Est. tax savings @ 24.0%: +$1,197
• After-tax cash flow: $644/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.

Condition & rehab AI · 16 photos

Excellent 95/100 None rehab

This home is in excellent condition with a modern kitchen, good landscaping, and no visible repairs needed. It is move-in ready and has the potential to be a great investment.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers.
• Both Painting exterior and interior walls — Fresh paint can make the home look more inviting and maintain its value.
• Both Landscaping and flower beds — Improves the home's curb appeal and can attract more buyers.
• Rental HVAC maintenance — Ensures the HVAC system is functioning properly and can attract more renters.
• Resale Kitchen appliances maintenance — Ensures the appliances are in good working condition and can attract more buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers. ↑
• Both Painting exterior and interior walls — Fresh paint can make the home look more inviting and maintain its value. ↑
• Both Landscaping and flower beds — Improves the home's curb appeal and can attract more buyers. ↑
• Rental HVAC maintenance — Ensures the HVAC system is functioning properly and can attract more renters. ↑
• Resale Kitchen appliances maintenance — Ensures the appliances are in good working condition and can attract more buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-22 Listed $259,900 RACC