315 S Honey Bear Way · Homosassa Springs, FL 34461

$170,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 51 Days on market

Built 2018 0.27 ac lot Est $129k · 32% over ↓ 36% 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom 2 Bath Beautiful home. Come check out your meticulously maintained home built in 2018, perfectly situated on a spacious 0.27 acre lot in Lecanto just off the Suncoast Expressway, offering both convenience and a peaceful setting. Step inside and you will immediately appreciate the fresh and modern feel with brand new luxury vinyl plank flooring installed, along with a thoughtfully designed layout. The home features a split floor plan with 3 bedrooms and 2 bathrooms, providing privacy and functionality for everyday living. Your kitchen is centrally located the heart of the home and comes fully equipped with ample cabinetry, a center island with seating, and an open view, overlooking the living room and expansive backyard, making it perfect for entertaining interacting with family and guests. Your primary suite offers a comfortable retreat with a spacious bathroom featuring dual vanity sinks, a soaking tub, and a separate shower, giving you both style and convenience. Step outside your rear stairs and enjoy your park like scenery with open space and mature oak trees providing shade and natural beauty. With plenty of room to add a shed, workshop, or store your boats, RVs, and toys, this property offers flexibility to fit your lifestyle. your home features newer construction, modern updates, and ideal location near the Suncoast Expressway for easy commuting, this home offers the perfect blend of comfort, convenience, and outdoor space. Come on over and schedule your private tour today.

Key facts

• Split floor plan
• Expansive backyard
• 0.27 acre lot

Tags

• METICULOUSLY MAINTAINED HOME
• SPACIOUS 0.27 ACRE LOT
• SPLIT FLOOR PLAN
• FULLY EQUIPPED KITCHEN
• CENTER ISLAND WITH SEATING
• EXPANSIVE BACKYARD

Property features AI

Finance

• Other: Property zoned LDRMH
• Financial info: No lease restrictions; Tax information not included per instructions
• HOA & community: No HOA / association

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Septic tank; Broadband/high-speed internet available; Cable available; Electricity available; Phone available; Water available (see remarks for details)
• Home design: Manufactured home (double wide); One story; Home faces west; Entry on main level
• Construction: Vinyl siding over frame construction; Shingle roof; Crawlspace foundation; Built as a double-wide manufactured home
• Exterior features: Paved road access; Lot approximately 0.27 acres (1/4 to less than 1/2 acre)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Split-bedroom layout; 7 total rooms
• Laundry & utility: Interior laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $626 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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-, amenities F, commute 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: Rock Crusher Elementary School (math 70% / reading 56%, grade B, #582 of 2,144 statewide, top 28%, 665 students, 68% FRL); Crystal River High School (math 31% / reading 44%, grade F, #336 of 667 statewide, top 51%, 1,249 students, 56% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 197 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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 $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $75k; list at $170k implies a 127% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,900 (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: 1.30% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.78%
• DSCR: 1.70
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $128,544
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
260 S Caraway Pt	0.04mi	3/2.0	1,296 (+4%)	4mo	$177,000	$137	88
5250 W Rolling View Pl	0.15mi	2/2.0 (-1)	1,248 (0%)	10mo	$82,500	$66	80
5250 W Rolling View Pl	0.15mi	2/2.0 (-1)	1,248 (0%)	10mo	$82,500	$66	80
290 S Honey Bear Way	0.04mi	3/2.0	1,396 (+12%)	2mo	$144,200	$103	77
5201 W Shaker Pl	0.12mi	3/2.0	1,404 (+12%)	3mo	$163,000	$116	71
5253 W Cardamon Pl	0.16mi	3/2.0	1,296 (+4%)	22mo	$110,000	$85	67
5160 W Caraway Pl	0.15mi	2/2.0 (-1)	1,372 (+10%)	24mo	$156,000	$114	52

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: 6.6%
• Equity multiple: 1.26×
• Total profit: $12,312
• Equity at exit: $25,348

10-year hold

• IRR: 16.0%
• Equity multiple: 2.30×
• Total profit: $62,048
• Equity at exit: $14,698

Cash invested: $47,600 (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: 197
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,212 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$159 /mo · $1,912/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $626

Break-even live

Break-even rent $1,420

Max offer price $170,000

Occupancy floor 67%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5085 W Kristina Loop Lecanto, FL	2.0	2.0	1227	$1,800	$1.47	21d	1	0.48mi
1136 N Tiger Pt Unit 1136 Lecanto, FL	3.0	1.5	1000	$1,495	$1.50	21d	1	1.47mi

Listing history 9 events

1. 2026-05-15
   historical Active Under Contract 1515-char remark

   Show marketing remark (1515 chars)

   3 Bedroom 2 Bath Beautiful home. Come check out your meticulously maintained home built in 2018, perfectly situated on a spacious 0.27 acre lot in Lecanto just off the Suncoast Expressway, offering both convenience and a peaceful setting. Step inside and you will immediately appreciate the fresh and modern feel with brand new luxury vinyl plank flooring installed, along with a thoughtfully designed layout. The home features a split floor plan with 3 bedrooms and 2 bathrooms, providing privacy and functionality for everyday living. Your kitchen is centrally located the heart of the home and comes fully equipped with ample cabinetry, a center island with seating, and an open view, overlooking the living room and expansive backyard, making it perfect for entertaining interacting with family and guests. Your primary suite offers a comfortable retreat with a spacious bathroom featuring dual vanity sinks, a soaking tub, and a separate shower, giving you both style and convenience. Step outside your rear stairs and enjoy your park like scenery with open space and mature oak trees providing shade and natural beauty. With plenty of room to add a shed, workshop, or store your boats, RVs, and toys, this property offers flexibility to fit your lifestyle. your home features newer construction, modern updates, and ideal location near the Suncoast Expressway for easy commuting, this home offers the perfect blend of comfort, convenience, and outdoor space. Come on over and schedule your private tour today.

2. 2026-05-15
   status Pending

   Show marketing remark (1515 chars)

   3 Bedroom 2 Bath Beautiful home. Come check out your meticulously maintained home built in 2018, perfectly situated on a spacious 0.27 acre lot in Lecanto just off the Suncoast Expressway, offering both convenience and a peaceful setting. Step inside and you will immediately appreciate the fresh and modern feel with brand new luxury vinyl plank flooring installed, along with a thoughtfully designed layout. The home features a split floor plan with 3 bedrooms and 2 bathrooms, providing privacy and functionality for everyday living. Your kitchen is centrally located the heart of the home and comes fully equipped with ample cabinetry, a center island with seating, and an open view, overlooking the living room and expansive backyard, making it perfect for entertaining interacting with family and guests. Your primary suite offers a comfortable retreat with a spacious bathroom featuring dual vanity sinks, a soaking tub, and a separate shower, giving you both style and convenience. Step outside your rear stairs and enjoy your park like scenery with open space and mature oak trees providing shade and natural beauty. With plenty of room to add a shed, workshop, or store your boats, RVs, and toys, this property offers flexibility to fit your lifestyle. your home features newer construction, modern updates, and ideal location near the Suncoast Expressway for easy commuting, this home offers the perfect blend of comfort, convenience, and outdoor space. Come on over and schedule your private tour today.

3. 2026-03-25
   listed $170,000 Active 1515-char remark

   Show marketing remark (1515 chars)

   3 Bedroom 2 Bath Beautiful home. Come check out your meticulously maintained home built in 2018, perfectly situated on a spacious 0.27 acre lot in Lecanto just off the Suncoast Expressway, offering both convenience and a peaceful setting. Step inside and you will immediately appreciate the fresh and modern feel with brand new luxury vinyl plank flooring installed, along with a thoughtfully designed layout. The home features a split floor plan with 3 bedrooms and 2 bathrooms, providing privacy and functionality for everyday living. Your kitchen is centrally located the heart of the home and comes fully equipped with ample cabinetry, a center island with seating, and an open view, overlooking the living room and expansive backyard, making it perfect for entertaining interacting with family and guests. Your primary suite offers a comfortable retreat with a spacious bathroom featuring dual vanity sinks, a soaking tub, and a separate shower, giving you both style and convenience. Step outside your rear stairs and enjoy your park like scenery with open space and mature oak trees providing shade and natural beauty. With plenty of room to add a shed, workshop, or store your boats, RVs, and toys, this property offers flexibility to fit your lifestyle. your home features newer construction, modern updates, and ideal location near the Suncoast Expressway for easy commuting, this home offers the perfect blend of comfort, convenience, and outdoor space. Come on over and schedule your private tour today.

4. 2026-03-25
   listed $170,000 Active

   Show marketing remark (1515 chars)

   3 Bedroom 2 Bath Beautiful home. Come check out your meticulously maintained home built in 2018, perfectly situated on a spacious 0.27 acre lot in Lecanto just off the Suncoast Expressway, offering both convenience and a peaceful setting. Step inside and you will immediately appreciate the fresh and modern feel with brand new luxury vinyl plank flooring installed, along with a thoughtfully designed layout. The home features a split floor plan with 3 bedrooms and 2 bathrooms, providing privacy and functionality for everyday living. Your kitchen is centrally located the heart of the home and comes fully equipped with ample cabinetry, a center island with seating, and an open view, overlooking the living room and expansive backyard, making it perfect for entertaining interacting with family and guests. Your primary suite offers a comfortable retreat with a spacious bathroom featuring dual vanity sinks, a soaking tub, and a separate shower, giving you both style and convenience. Step outside your rear stairs and enjoy your park like scenery with open space and mature oak trees providing shade and natural beauty. With plenty of room to add a shed, workshop, or store your boats, RVs, and toys, this property offers flexibility to fit your lifestyle. your home features newer construction, modern updates, and ideal location near the Suncoast Expressway for easy commuting, this home offers the perfect blend of comfort, convenience, and outdoor space. Come on over and schedule your private tour today.

5. 2026-02-20
   soldstatus $75,000
6. 2018-03-23
   soldstatus $16,500
7. 2015-08-31
   soldstatus $4,500 372-char remark

   Show marketing remark (372 chars)

   This is your opportunity to buy a wooded lot in Cinnamon Ridge - the only lot for sale at the present time in Cinnamon Ridge with a utility building (10 x 16) on the property. Desirable mobile home subdivision with public water, on a quiet street, close to community clubhouse & located in the center of the county. Come and take a look - you won't be disappointed!

8. 2015-01-23
   listed $9,000 372-char remark

   Show marketing remark (372 chars)

   This is your opportunity to buy a wooded lot in Cinnamon Ridge - the only lot for sale at the present time in Cinnamon Ridge with a utility building (10 x 16) on the property. Desirable mobile home subdivision with public water, on a quiet street, close to community clubhouse & located in the center of the county. Come and take a look - you won't be disappointed!

9. 1983-01-01
   soldstatus $267,000

ⓘ 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: $1,912 · $159/mo
• Projected year-2 tax: $1,912 · $159/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $26,544
• − Mortgage interest: −$9,523
• − Property taxes: −$1,912
• − Insurance: −$850
• − Repairs & maintenance: −$2,124
• − Management: −$2,124
• − Depreciation: −$4,945
• Taxable income: $5,067
• Est. tax owed @ 24.0%: −$1,216
• After-tax cash flow: $6,294/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): 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

-36.3% since first listed

9 events — show timeline

• 2026-05-15 Contingent — HCAR
• 2026-05-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Listed $170,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Listed $170,000 HCAR
• 2026-02-20 Sold (Public Records) $75,000 Public Records
• 2018-03-23 Sold (Public Records) $16,500 Public Records
• 2015-08-31 Sold (MLS) $4,500 RACC
• 2015-01-23 Listed $9,000 RACC
• 1983-01-01 Sold (Public Records) $267,000 Public Records

Property tax history

+28.4%/yr

Latest (2025): $1,912 · +5.4% YoY. Source: county tax records.