12389 Conde Dr · High Point, FL 34613

$154,900

2 bd · 2.0 ba · 984 sqft · Manufactured public records · 125 Days on market

Built 1973 6,000 sqft lot Est $134k · 16% over $46/mo HOA · 3% of rent

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Why this score? — see what drove the D+ 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 +22.3/30.0
• DSCR +7.1/10.0
• 1% rule +5.2/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Well kept 2 bedroom home located in High Point Golf Community. Fully furnished. Large living room plus large florida room giving you plenty of space to relax or enjoy with family and friends. Golf cart storage and 2 sheds for storage. Screened room on east side for a perfect morning outside enjoying the Florida sunshine. Updated bathrooms and Kitchen.

Key facts

• Screened room
• Updated bathrooms
• 2 sheds for storage

Tags

• HIGH POINT GOLF COMMUNITY
• GOLF CART STORAGE
• 2 SHEDS FOR STORAGE
• SCREENED ROOM
• UPDATED BATHROOMS
• UPDATED KITCHEN

Property features AI

Finance

• Other: Zoned R1-MH (Residential Single Family Housing)
• HOA & community: Homeowners association with monthly fee; HOA fee approximately $46 monthly; Community amenities include clubhouse, dog park, fitness center, golf course, RV/boat storage, sauna, security, tennis courts, and pool; Street lights; Senior community

Exterior

• Parking: Attached covered carport (1 space)
• Security: 24-hour security; Smoke detectors
• Utilities: Public water; Public sewer; 150 amp electric service with 220 volts; Underground electric; Cable connected; Electricity connected; Sewer connected; Water connected; Natural gas not available
• Home design: Residential mobile home (double wide); One story; South-facing
• Construction: Vinyl siding; Membrane roof
• Exterior features: Covered patio/porch; Glass-enclosed porch; Screened porch; Shed; Few trees; Asphalt/paved road access

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Disposal; Electric water heater
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air; Ceiling fans
• Interior features: Ceiling fans; His and hers closets; Furnished
• Laundry & utility: Washer and dryer included; Washer hookup; Electric dryer hookup; Laundry sink; Laundry area in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 5.8% in High Point — 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 64/100 on livability (#677 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; 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); West Hernando Middle School (math 36% / reading 37%, grade F, #405 of 571 statewide, top 72%, 695 students, 58% FRL); Central High School (math 34% / reading 44%, grade F, #312 of 667 statewide, top 48%, 1,426 students, 53% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: 691 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• This rent runs 32% 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 $1k of loan paydown is wiped out by about $5k 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 125 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $155k implies a 416% 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; 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 $136,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.02% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.04%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $133,824
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9074 Highpoint Blvd	0.12mi	2/2.0	960 (-2%)	3mo	$131,000	$136	87
9100 Highpoint Blvd	0.13mi	2/2.0	1,040 (+6%)	2mo	$177,000	$170	83
12087 Club House Rd	0.54mi	2/2.0	984 (0%)	0mo	$125,000	$127	74
7359 Highpoint	0.56mi	2/2.0	984 (0%)	2mo	$135,000	$137	72
12169 Club House Rd	0.51mi	2/2.0	960 (-2%)	2mo	$130,000	$135	70
7299 First Circle Dr	0.58mi	2/2.0	984 (0%)	3mo	$144,000	$146	70
7511 Eastern Circle Dr	0.40mi	2/2.0	1,056 (+7%)	3mo	$138,000	$131	67
12112 Sara St	0.67mi	2/2.0	1,009 (+2%)	2mo	$114,000	$113	62
7481 Eagle Dr	0.35mi	2/2.0	1,104 (+12%)	3mo	$217,000	$197	61
8116 Weeping Willow St	0.69mi	3/2.0 (+1)	960 (-2%)	2mo	$215,000	$224	58
7528 Western Circle Dr	0.75mi	2/2.0	1,026 (+4%)	1mo	$105,000	$102	57
7444 Highpoint Blvd	0.64mi	2/2.0	1,104 (+12%)	1mo	$140,000	$127	49

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: 0.79×
• Total profit: $-8,930
• Equity at exit: $23,096

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $12,971
• Equity at exit: $13,393

Cash invested: $43,372 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,572 high
• Mortgage (P&I): −$812
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$65
• HOA: −$46
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $254

Break-even live

Break-even rent $1,250

Max offer price $154,900

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7402 Eastern Circle Dr Brooksville, FL	2.0	1.0	720	$1,200	$1.67	24d	1	0.21mi
7513 Highpoint Blvd Brooksville, FL	2.0	1.0	672	$1,150	$1.71	24d	1	0.70mi
12136 Fairway Ave Brooksville, FL	2.0	2.0	920	$1,650	$1.79	24d	1	0.87mi
12103 Fairway Ave Brooksville, FL	2.0	2.0	864	$1,725	$2.00	1d	1	0.92mi
13186 Thrush St Spring Hill, FL	3.0	2.0	1114	$1,950	$1.75	24d	1	1.07mi

HOA detail

• Monthly dues: $46 · $552/yr

Listing history 16 events

1. 2026-06-18
   days on market $154,900 Active 125 DOM
2. 2026-06-17
   days on market $154,900 Active 124 DOM
3. 2026-06-16
   days on market $154,900 Active 123 DOM
4. 2026-06-15
   days on market $154,900 Active 122 DOM
5. 2026-06-13
   days on market $154,900 Active 120 DOM
6. 2026-06-13
   days on market $154,900 Active 119 DOM
7. 2026-06-09
   days on market $154,900 Active 116 DOM
8. 2026-06-08
   days on market $154,900 Active 115 DOM
9. 2026-06-07
   days on market $154,900 Active 114 DOM
10. 2026-06-04
    days on market $154,900 Active 111 DOM
11. 2026-06-03
    days on market $154,900 Active 110 DOM
12. 2026-06-02
    days on market $154,900 Active 109 DOM
13. 2026-06-01
    days on market $154,900 Active 108 DOM
14. 2026-05-31
    days on market $154,900 Active 107 DOM
15. 2026-02-13
    listed $154,900 Active
16. 1981-02-01
    soldstatus $30,000

ⓘ 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: $779 · $65/mo
• Projected year-2 tax: $1,286 · $107/mo
• Expected delta: +$506/yr (+$42/mo · 65.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,868
• − Mortgage interest: −$8,677
• − Property taxes: −$779
• − Insurance: −$774
• − Repairs & maintenance: −$1,509
• − Management: −$1,509
• − HOA: −$552
• − Depreciation: −$4,506
• Taxable income: $560
• Est. tax owed @ 24.0%: −$134
• After-tax cash flow: $2,917/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 — High Point

• Score: 64/100
• State rank: #677
• US rank: #14099

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: High Point, FL
• County: Hernando County · 169,677 people
• 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

+416.3% since first listed

2 events — show timeline

• 2026-02-13 Listed $154,900 HCAR
• 1981-02-01 Sold (Public Records) $30,000 Public Records

Property tax history

+11.3%/yr

Latest (2025): $779 · +0.5% YoY. Source: county tax records.