6146 W Heritage Dr · Homosassa Springs, FL 34448

$205,000

3 bd · 3.0 ba · 2,108 sqft · Manufactured public records · 28 Days on market

Built 2008 1.45 ac lot Est $242k · 15% 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 +24.9/30.0
• ARV discount +14.4/15.0
• DSCR +8.1/10.0
• 1% rule +5.4/10.0
• 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 MLS

MAKE YOUR APPOINTMENT TODAY TO SEE THIS GREAT 3 BEDROOM 3 BATH SPLIT PLAN DOUBLE WIDE MOBILE ON A PARTIALLY FENCED 1.45 ACRES OF LAND. NEEDS A LITTLE TLC. IF YOU LIKE PRIVACY THIS IS THE HOME FOR YOU. DON'T EXPECT THIS TO LAST LONG. PRICED TO SELL.

Key facts

• Laminate flooring
• Window treatments
• Eat in kitchen

Tags

• EAT IN KITCHEN
• LAMINATE FLOORING
• STAINLESS STEEL APPLIANCES
• CEILING FANS
• WINDOW TREATMENTS
• INSIDE LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $205k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $202k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: 311 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• At $2,140/mo this rent would consume 56% of the median local household income ($46k/yr) (locally 113% 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 28 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago 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 $80k; list at $205k implies a 156% 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 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,925 (1.5% 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. 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?
3. 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.
4. 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.
5. 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: 1.04% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.14%
• DSCR: 1.41
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $242,420
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6279 W Appomattox Ln	0.23mi	4/2.0 (+1)	2,280 (+8%)	7mo	$262,000	$115	61

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: -2.5%
• Equity multiple: 0.91×
• Total profit: $-5,445
• Equity at exit: $30,566

10-year hold

• IRR: 7.1%
• Equity multiple: 1.54×
• Total profit: $30,834
• Equity at exit: $17,725

Cash invested: $57,400 (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 34448

• Home prices YoY: -26.1%
• Active inventory: 311
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,140 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$93 /mo · $1,118/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $437

Break-even live

Break-even rent $1,587

Max offer price $205,000

Occupancy floor 75%

Sensitivity live

Price	-10% $553	-5% $495	+0% $437	+5% $379	+10% $321
Rent	-10% $268	-5% $353	+0% $437	+5% $522	+10% $606
Rate	-1.0pp $540	-0.5pp $489	base $437	+0.5pp $384	+1.0pp $330

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $205,000 Active 28 DOM
2. 2026-06-19
   days on market $205,000 Active 26 DOM
3. 2026-06-18
   days on market $205,000 Active 25 DOM
4. 2026-06-17
   days on market $205,000 Active 24 DOM
5. 2026-06-16
   days on market $205,000 Active 23 DOM
6. 2026-06-15
   days on market $205,000 Active 22 DOM
7. 2026-06-14
   days on market $205,000 Active 20 DOM
8. 2026-06-13
   days on market $205,000 Active 19 DOM
9. 2026-06-10
   days on market $205,000 Active 17 DOM
10. 2026-06-09
    days on market $205,000 Active 16 DOM
11. 2026-06-08
    days on market $205,000 Active 15 DOM
12. 2026-06-07
    pricestatusdays on market $205,000 Active 14 DOM
13. 2026-03-23
    status Pending
14. 2026-03-10
    listed $200,000 Active
15. 2018-11-06
    soldstatus $80,000
16. 2018-10-26
    soldstatus $80,000 248-char remark

    Show marketing remark (248 chars)

    MAKE YOUR APPOINTMENT TODAY TO SEE THIS GREAT 3 BEDROOM 3 BATH SPLIT PLAN DOUBLE WIDE MOBILE ON A PARTIALLY FENCED 1.45 ACRES OF LAND. NEEDS A LITTLE TLC. IF YOU LIKE PRIVACY THIS IS THE HOME FOR YOU. DON'T EXPECT THIS TO LAST LONG. PRICED TO SELL.

17. 2017-05-28
    listed $78,000 248-char remark

    Show marketing remark (248 chars)

    MAKE YOUR APPOINTMENT TODAY TO SEE THIS GREAT 3 BEDROOM 3 BATH SPLIT PLAN DOUBLE WIDE MOBILE ON A PARTIALLY FENCED 1.45 ACRES OF LAND. NEEDS A LITTLE TLC. IF YOU LIKE PRIVACY THIS IS THE HOME FOR YOU. DON'T EXPECT THIS TO LAST LONG. PRICED TO SELL.

18. 2008-09-15
    soldstatus $39,000 449-char remark

    Show marketing remark (449 chars)

    HANDYMAN/WOMAN SPECIAL, 2 BDRM, 1 BATH 1982 SINGLE WIDE M/H ON 1.42 ACRES, PAVED ROAD, NEW PUMP ON SUBMERGED WELL-EXCELLENT WATER, FENCED ON REAR & 1-SIDE; CENTER OF THE COUNTY, SEPTIC TANK ON PROPERTY, IMPACT FEE SHOULD BE WAIVED IF YOU REPLACE THE MOBILE HOME. ANOTHER M/H FOR SALE NEXT DOOR, SEE MLS#326302; BEING SOLD AS-IS, NO VALUE GIVEN TO MOBILE HOME; ROCKCRUSHER & CRYSTAL RIVER SCHOOL DIST. NEAR TO SHOPPING, MEDICAL, ETC, ETC,

19. 2008-05-19
    listed $39,000 449-char remark

    Show marketing remark (449 chars)

    HANDYMAN/WOMAN SPECIAL, 2 BDRM, 1 BATH 1982 SINGLE WIDE M/H ON 1.42 ACRES, PAVED ROAD, NEW PUMP ON SUBMERGED WELL-EXCELLENT WATER, FENCED ON REAR & 1-SIDE; CENTER OF THE COUNTY, SEPTIC TANK ON PROPERTY, IMPACT FEE SHOULD BE WAIVED IF YOU REPLACE THE MOBILE HOME. ANOTHER M/H FOR SALE NEXT DOOR, SEE MLS#326302; BEING SOLD AS-IS, NO VALUE GIVEN TO MOBILE HOME; ROCKCRUSHER & CRYSTAL RIVER SCHOOL DIST. NEAR TO SHOPPING, MEDICAL, ETC, ETC,

ⓘ 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: $1,118 · $93/mo
• Projected year-2 tax: $1,702 · $142/mo
• Expected delta: +$583/yr (+$49/mo · 52.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 26 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: $25,683
• − Mortgage interest: −$11,483
• − Property taxes: −$1,118
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,055
• − Management: −$2,055
• − Depreciation: −$5,964
• Taxable income: $1,984
• Est. tax owed @ 24.0%: −$476
• After-tax cash flow: $4,770/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

• Census place: Homosassa Springs, FL
• County: Citrus County · 111,314 people
• Metro: Homosassa Springs, FL
• Population (ZIP): 10,817
• Household income: $45,916
• Rent vs Own: 14.6% rent · 85.4% own
• Severe rent burden: 113.0

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 3% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -110.27%
• Current HPI: 312.4302
• 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

+412.8% since first listed

7 events — show timeline

• 2026-03-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-10 Listed $200,000 Stellar MLS as Distributed by MLS Grid
• 2018-11-06 Sold (Public Records) $80,000 Public Records
• 2018-10-26 Sold (MLS) $80,000 RACC
• 2017-05-28 Listed $78,000 RACC
• 2008-09-15 Sold (MLS) $39,000 RACC
• 2008-05-19 Listed $39,000 RACC

Property tax history

+6.0%/yr

Latest (2025): $1,118 · +8.2% YoY. Source: county tax records.