14018 Hexam · North Weeki Wachee, FL 34613

$230,000

3 bd · 2.0 ba · 2,356 sqft · Manufactured public records · 108 Days on market

Built 2000 5.00 ac lot Est $363k · 37% under

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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 +16.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Schools +4.2/10.0
• 1% rule +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Price Reduced, Owner Motivated. Price Reduced by $45,000.00 Outstanding opportunity to own 5 wooded, fully fenced acres in the desirable Royal Highlands area. The existing 4-bedroom, 2-bathroom double-wide mobile home (2,356 sq ft) is in need of significant repair or removal. The true value here is in the premium acreage and existing infrastructure, saving you tens of thousands of dollars in raw land development costs. The Land is the Value: Five heavily wooded, private acres zoned Agricultural/Residential (AC). No HOA or CDD restrictions. Ready-to-Go Utilities: Avoid the massive expense and delays of drilling. An operational private well, septic system, and power hookups are already on-sit

Key facts

• Fully fenced
• Zoned ac
• Scenic biking trails

Tags

• SEPTIC SYSTEM
• FULLY FENCED
• 5 ACRE WOODED LOT
• ZONED AC
• NO HOA
• SCENIC BIKING TRAILS

Property features AI

Finance

• Other: Property classified as Residential; Located on approximately 5 acres

Exterior

• Parking: Asphalt driveway
• Utilities: Well water; Septic tank; High-speed internet available; Electricity available
• Home design: Manufactured home (double wide); Single-story; North-facing; Homestead
• Construction: Vinyl siding; Shingle roof; Crawlspace foundation
• Exterior features: Sliding doors; Other fencing

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 4 bedrooms
• Flooring: Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Wood-burning fireplace
• Laundry & utility: Washer; Dryer; Inside laundry with electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $230k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/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 $197k (14.3% below list).
• Recommended offer: $197k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.9% in North Weeki Wachee — 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 68/100 on livability (#534 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, amenities F, commute 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: Pine Grove Elementary School (math 60% / reading 45%, grade C-, #976 of 2,144 statewide, top 46%, 991 students, 60% FRL); Weeki Wachee High School (math 41% / reading 42%, grade F, #284 of 667 statewide, top 43%, 1,435 students, 52% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 691 active listings in the ZIP; 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• This rent runs 40% of the median local income ($59k/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 $7k 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

• It's been on market 108 days — a 9% lower offer ($209k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $197,210 (14.3% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.86% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.09%
• DSCR: 1.09
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $362,824
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13117 Hexam Rd	0.72mi	3/2.0	2,261 (-4%)	2mo	$349,000	$154	58
14251 Trinity Rd	0.62mi	4/2.0 (+1)	2,052 (-13%)	8mo	$240,000	$117	38

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: -13.0%
• Equity multiple: 0.53×
• Total profit: $-30,172
• Equity at exit: $34,294

10-year hold

• IRR: -4.1%
• Equity multiple: 0.73×
• Total profit: $-17,297
• Equity at exit: $19,886

Cash invested: $64,400 (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 34613

• Home prices YoY: -17.2%
• Active inventory: 691
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,972 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$144 /mo · $1,723/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $112

Break-even live

Break-even rent $1,830

Max offer price $230,000

Occupancy floor 89%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-13
   statusdays on market $230,000 Pending 108 DOM
2. 2026-06-09
   days on market $230,000 Active 105 DOM
3. 2026-06-08
   days on market $230,000 Active 104 DOM
4. 2026-06-07
   days on market $230,000 Active 103 DOM
5. 2026-06-04
   days on market $230,000 Active 100 DOM
6. 2026-06-03
   days on market $230,000 Active 99 DOM
7. 2026-06-02
   remarks 699-char remark
8. 2026-06-02
   days on market $230,000 Active 98 DOM
9. 2026-06-02
   price $230,000 Active 97 DOM
10. 2026-06-01
    days on market $275,000 Active 97 DOM
11. 2026-05-31
    days on market $275,000 Active 96 DOM
12. 2026-02-24
    listed $275,000 Active

ⓘ 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: $1,723 · $144/mo
• Projected year-2 tax: $1,909 · $159/mo
• Expected delta: +$186/yr (+$15/mo · 10.8%)

ⓘ 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 7 d/yr ≥109°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,665
• − Mortgage interest: −$12,884
• − Property taxes: −$1,723
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,893
• − Management: −$1,893
• − Depreciation: −$6,691
• Taxable loss: −$2,569
• Est. tax savings @ 24.0%: +$617
• After-tax cash flow: $1,965/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 — North Weeki Wachee

• Score: 68/100
• State rank: #534
• US rank: #10019

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hernando County · 169,677 people
• City population: 18,280
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 19,337
• Household income: $58,596
• Rent vs Own: 9.2% rent · 90.8% own
• Severe rent burden: 307.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 3% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -57.51%
• Current HPI: 276.2229
• Rent YoY: —
• 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

1 event — show timeline

• 2026-02-24 Listed $275,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+2.4%/yr

Latest (2025): $1,723 · +0.1% YoY. Source: county tax records.