2565 E North St · Inverness Highlands North, FL 34453

$199,900

4 bd · 2.0 ba · 1,620 sqft · Manufactured public records · 51 Days on market

Built 2007 0.51 ac lot Est $206k · at est. ↓ 4% since listing

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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 +23.2/30.0
• ARV discount +8.8/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• 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

Completely updated and move-in ready, this beautifully refreshed 4-bedroom, 2-bath manufactured home is perfectly situated on a private 0.51-acre wooded lot in the heart of Inverness, FL. Updates also include a brand new roof! Filled with natural light, the home features an inviting open floor plan designed for comfortable everyday living and easy entertaining. The spacious living room showcases a large picture window that brings the outdoors in, while durable LVP flooring flows seamlessly throughout the main living areas. The kitchen and living spaces connect effortlessly, creating a bright and functional layout. All bedrooms are generously sized, offering flexibility for guests, office sp

Key facts

• Open floor plan
• Soaking tub
• Large picture window

Tags

• PRIVATE WOODED LOT
• OPEN FLOOR PLAN
• LARGE PICTURE WINDOW
• DURABLE LVP FLOORING
• FULLY UPDATED ENSUITE BATH
• SOAKING TUB

Property features AI

Finance

• Other: Homestead exempt
• Financial info: No lease restrictions
• HOA & community: No association; Pets allowed

Exterior

• Utilities: Well water; Septic sewer; Electricity connected
• Home design: Manufactured double-wide home; Residential property; One story; South-facing
• Construction: Vinyl siding; Shingle roof; Pillar/post/pier foundation; Built as double wide manufactured home
• Exterior features: Patio; Other exterior features; Mature landscaping; Paved road access; Lot dimensions approximately 100 x 110

Interior

• Kitchen: No appliances included
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; High ceilings; Open floorplan
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 5.5% in Inverness Highlands North — 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 65/100 on livability (#643 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety 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: 421 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• At $2,206/mo this rent would consume 46% of the median local household income ($58k/yr) (locally 240% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Citrus County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.74%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $205,740
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2550 E Earth St	0.30mi	4/2.0	1,600 (-1%)	4mo	$199,998	$125	81
2692 E Venus St	0.21mi	3/2.0 (-1)	1,560 (-4%)	6mo	$198,000	$127	74
2727 E Center St	0.26mi	3/2.0 (-1)	1,512 (-7%)	1mo	$220,000	$146	70
2671 E Mars St	0.34mi	3/2.0 (-1)	1,782 (+10%)	22mo	$169,000	$95	44
47 N East Ave	0.47mi	3/2.0 (-1)	1,490 (-8%)	20mo	$199,000	$134	43

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-9,369
• Equity at exit: $29,806

10-year hold

• IRR: 5.2%
• Equity multiple: 1.39×
• Total profit: $21,579
• Equity at exit: $17,284

Cash invested: $55,972 (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 34453

• Home prices YoY: -26.1%
• Active inventory: 421
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,206 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $361

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 79%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
543 N Rooks Ave Inverness, FL	3.0	2.0	1296	$1,900	$1.47	21d	1	0.79mi
2620 E Newhaven St Inverness, FL	3.0	2.0	1884	$2,400	$1.27	21d	1	0.92mi
2858 E Marcia St Inverness, FL	4.0	2.0	1790	$2,500	$1.40	21d	1	1.04mi
3880 E Byrd St Inverness, FL	3.0	2.0	1380	$1,600	$1.16	21d	1	1.35mi

Listing history 18 events

1. 2026-06-19
   days on market $199,900 Active 51 DOM
2. 2026-06-18
   days on market $199,900 Active 50 DOM
3. 2026-06-17
   days on market $199,900 Active 49 DOM
4. 2026-06-16
   days on market $199,900 Active 48 DOM
5. 2026-06-15
   days on market $199,900 Active 47 DOM
6. 2026-06-14
   days on market $199,900 Active 45 DOM
7. 2026-06-13
   pricedays on market $199,900 Active 44 DOM
8. 2026-06-09
   days on market $215,000 Active 41 DOM
9. 2026-06-09
   price $215,000 Active 40 DOM
10. 2026-06-08
    days on market $239,000 Active 40 DOM
11. 2026-06-07
    days on market $239,000 Active 39 DOM
12. 2026-06-03
    days on market $239,000 Active 35 DOM
13. 2026-06-02
    days on market $239,000 Active 34 DOM
14. 2026-06-01
    days on market $239,000 Active 33 DOM
15. 2026-05-31
    days on market $239,000 Active 32 DOM
16. 2026-05-30
    days on market $239,000 Active 31 DOM
17. 2026-05-04
    price $239,000
18. 2026-04-29
    listed $250,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 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: $26,467
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,117
• − Management: −$2,117
• − Depreciation: −$5,815
• Taxable income: $1,222
• Est. tax owed @ 24.0%: −$293
• After-tax cash flow: $4,038/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 — Inverness Highlands North

• Score: 65/100
• State rank: #643
• US rank: #12713

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Citrus County · 111,314 people
• Metro: Homosassa Springs, FL
• Population (ZIP): 10,621
• Household income: $57,568
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 240.0

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 6% Black 3% Two or more races 3% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 3% Romanian 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1% Other Asian/Pacific 0%

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: ▼ -103.32%
• Current HPI: 291.8965
• 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

-4.4% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $239,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-29 Listed $250,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+8.4%/yr

Latest (2025): $49 · +0.0% YoY. Source: county tax records.