353 N Rock Crusher Rd · Homosassa Springs, FL 34429

$127,900

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 4 Days on market

Built 1973 2.24 ac lot Est $191k · 33% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Investor special with exceptional potential in Crystal River! Situated on 2.24 acres with NO HOA or deed restrictions, this unique property offers a rare opportunity for investors, builders, or buyers looking for land, flexibility, and future possibilities in one of Florida’s fastest-growing Nature Coast communities. The value here is in the land, utilities, and location. The property currently features two mobile homes in need of repair, creating opportunities for renovation, replacement, rental potential, or redevelopment depending on your vision. With electric already on site, buyers may benefit from potential savings on future impact-related

Key facts

• 2 acres
• Existing well
• No hoa

Tags

• 2 ACRES
• NO HOA
• PUBLIC WATER
• EXISTING WELL
• SEPTIC SYSTEM
• ELECTRIC ALREADY ON SITE

Property features AI

Finance

• Other: Property zoned LDRMH
• Financial info: No specific financial details provided
• HOA & community: No HOA/association

Exterior

• Parking: No parking details provided
• Security: No security features reported
• Utilities: Public water and well available; Septic sewer system; Electricity available
• Home design: Single wide mobile home; Residential property; One level; Faces west
• Construction: Metal siding; Other roof type
• Exterior features: Paved road access; 2.24-acre lot

Interior

• Kitchen: No appliances reported
• Bedrooms: 6 bedrooms
• Flooring: Other flooring
• Bathrooms: 4 full bathrooms
• Heating & cooling: Ductless heating; Wall/window air conditioning units
• Interior features: No notable interior features reported
• Laundry & utility: No laundry features (none)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $128k.

Deal economics

• At list price, monthly cash flow is $443 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Cap rate 11.1% vs local median 5.9% in Homosassa Springs — 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 71/100 on livability (#391 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools F, 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.
• Market conditions: 325 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $884 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $20k; list at $128k implies a 540% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,900

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.46% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.08%
• DSCR: 1.76
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $190,848
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
56 N Rock Crusher Rd	0.33mi	3/2.0 (+1)	1,404 (+4%)	8mo	$200,000	$142	66
6385 W Moss Ln	0.61mi	3/2.0 (+1)	1,344 (0%)	22mo	$214,900	$160	48
791 N Griffith Ave	0.70mi	3/2.0 (+1)	1,512 (+12%)	8mo	$115,000	$76	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.21×
• Total profit: $7,625
• Equity at exit: $19,070

10-year hold

• IRR: 15.0%
• Equity multiple: 2.21×
• Total profit: $43,473
• Equity at exit: $11,058

Cash invested: $35,812 (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 34429

• Home prices YoY: -17.8%
• Active inventory: 325
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,865 high
• Mortgage (P&I): −$671
• Tax from tax record: −$240 /mo · $2,879/yr
• Insurance: −$53
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $443

Break-even live

Break-even rent $1,304

Max offer price $127,900

Occupancy floor 71%

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: $31,975
• Closing costs: $3,837
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6384 W Flanders Ln Crystal River, FL	3.0	2.0	1800	$2,250	$1.25	21d	1	0.70mi
271 N Lombardy Pt Lecanto, FL	2.0	2.0	1809	$1,500	$0.83	21d	1	1.00mi
1136 N Tiger Pt Unit 1136 Lecanto, FL	3.0	1.5	1000	$1,495	$1.50	21d	1	1.09mi
5085 W Kristina Loop Lecanto, FL	2.0	2.0	1227	$1,800	$1.47	21d	1	1.15mi
1165 N Commerce Ter Lecanto, FL	3.0	2.5	1697	$1,800	$1.06	21d	1	1.23mi
6084 W Fairhaven Ct Crystal River, FL	2.0	2.0	1545	$2,200	$1.42	21d	1	1.41mi

Listing history 4 events

1. 2026-05-13
   status Pending
2. 2026-05-09
   listed $127,900 Active
3. 1994-08-15
   soldstatus $20,000
4. 1986-06-01
   soldstatus $40,000

ⓘ 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: $2,879 · $240/mo
• Projected year-2 tax: $2,879 · $240/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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 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: $22,385
• − Mortgage interest: −$7,164
• − Property taxes: −$2,879
• − Insurance: −$1,437
• − Repairs & maintenance: −$1,791
• − Management: −$1,791
• − Depreciation: −$3,721
• Taxable income: $3,602
• Est. tax owed @ 24.0%: −$864
• After-tax cash flow: $4,455/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 — Homosassa Springs

• Score: 71/100
• State rank: #391
• US rank: #6877

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,494

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 (88%)
• Race & ethnicity: White 88% Black 5% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1%

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: ▼ -58.92%
• Current HPI: 271.3171
• Rent YoY: —
• Metro: —
• 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

+219.7% since first listed

4 events — show timeline

• 2026-05-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-09 Listed $127,900 Stellar MLS as Distributed by MLS Grid
• 1994-08-15 Sold (Public Records) $20,000 Public Records
• 1986-06-01 Sold (Public Records) $40,000 Public Records

Property tax history

+16.0%/yr

Latest (2025): $2,879 · +10.7% YoY. Source: county tax records.