1355 N Reed Ter · Hernando, FL 34453

$69,000

2 bd · 2.0 ba · 1,260 sqft · Manufactured public records · 7 Days on market

Built 1986 10,525 sqft lot

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

If you love getting back to nature, this home brings it with the Withlacoochee Bike Trail just a few blocks away! This 2 bd/ 2 ba Manufactured Home with its own garage and lots of storage allows you room for your treasured possessions. It offers a spacious screened front porch. It also has the convenience of being located close to downtown Inverness. It is your escape from the world! It needs some TLC but is priced right. Don't wait, this one will go quickly!

Key facts

• 0.24 acre lot
• Garage
• Built 1986

Tags

• WITHLACOOCHEE BIKE TRAIL
• SPACIOUS SCREENED FRONT PORCH
• CLOSE TO DOWNTOWN INVERNESS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $69k.

Deal economics

• At list price, monthly cash flow is $840 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Cap rate 20.9% vs local median 5.6% in Hernando — 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 (#402 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• 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; 5 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).
• This rent runs 36% of the median local income ($58k/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 $477 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.54% ✓
• Cap rate: 20.90%
• Cash-on-cash: 52.18%
• DSCR: 3.32
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $160,020
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1422 N Reed Ter	0.08mi	2/2.0	1,196 (-5%)	1mo	$175,000	$146	87
1400 N Reed Ter	0.06mi	2/2.0	1,338 (+6%)	14mo	$114,500	$86	75
1377 N Reed Ter	0.02mi	3/2.0 (+1)	1,344 (+7%)	18mo	$160,000	$119	68
4250 E Nebraska Ln	0.25mi	3/2.0 (+1)	1,188 (-6%)	8mo	$165,000	$139	67
1571 N Little Carmen Ter	0.23mi	2/2.0	1,296 (+3%)	22mo	$165,000	$127	66
4296 E Texas St	0.24mi	3/2.0 (+1)	1,296 (+3%)	18mo	$170,000	$131	64
1756 N Paul Dr	0.42mi	3/2.0 (+1)	1,352 (+7%)	2mo	$48,500	$36	62
4332 E Wyoming Ln	0.28mi	2/2.0	1,136 (-10%)	12mo	$135,000	$119	60

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: 50.2%
• Equity multiple: 3.19×
• Total profit: $42,396
• Equity at exit: $10,288

10-year hold

• IRR: 55.6%
• Equity multiple: 6.49×
• Total profit: $106,091
• Equity at exit: $5,966

Cash invested: $19,320 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,750 high
• Mortgage (P&I): −$362
• Tax from tax record: −$152 /mo · $1,824/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $840

Break-even live

Break-even rent $687

Max offer price $69,000

Occupancy floor 47%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 E Rembrandt Way Unit 424 Inverness, FL	3.0	2.0	1262	$1,850	$1.47	21d	1	0.65mi
543 N Rooks Ave Inverness, FL	3.0	2.0	1296	$1,900	$1.47	21d	1	1.18mi
167 N Independence Hwy Inverness, FL	3.0	2.0	1535	$1,800	$1.17	21d	1	1.31mi
3880 E Byrd St Inverness, FL	3.0	2.0	1380	$1,600	$1.16	21d	1	1.44mi
2675 N Canterbury Lake Dr Hernando, FL	3.0	2.0	1855	$2,000	$1.08	21d	1	1.49mi

Listing history 4 events

1. 2026-03-23
   status Pending
2. 2026-03-16
   listed $69,000 Active
3. 2023-04-11
   soldstatus $139,000
4. 1984-12-01
   soldstatus $15,000

ⓘ 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: $1,824 · $152/mo
• Projected year-2 tax: $1,824 · $152/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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $21,004
• − Mortgage interest: −$3,865
• − Property taxes: −$1,824
• − Insurance: −$345
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$2,007
• Taxable income: $9,602
• Est. tax owed @ 24.0%: −$2,304
• After-tax cash flow: $7,777/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 — Hernando

• Score: 71/100
• State rank: #402
• US rank: #7137

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hernando, FL
• County: Citrus County · 111,314 people
• City population: 17,281
• 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

+360.0% since first listed

4 events — show timeline

• 2026-03-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-16 Listed $69,000 Stellar MLS as Distributed by MLS Grid
• 2023-04-11 Sold (Public Records) $139,000 Public Records
• 1984-12-01 Sold (Public Records) $15,000 Public Records

Property tax history

+12.1%/yr

Latest (2025): $1,824 · +12.1% YoY. Source: county tax records.