2012 S Rock Crusher Rd · Homosassa Springs, FL 34448

$73,000

2 bd · 1.0 ba · 960 sqft · Manufactured public records · 61 Days on market

Built 1981 0.94 ac lot Est $143k · 49% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming handyman special is nestled on a generous 0.94-acre lot in Homosassa, offering incredible potential. Featuring 2 bedrooms, 1 bathroom, and 960 square feet, this property is an excellent opportunity for those looking for an affordable place to call home, a relaxing weekend getaway, or investment. Located outside of a flood zone, this home provides added peace of mind.

Key facts

• 0.94-acre lot
• 0.94 acre lot
• Built 1981

Tags

• 0.94-ACRE LOT
• OUTSIDE OF A FLOOD ZONE

Property features AI

Finance

• Other: Zoning: RURMH
• Financial info: Annual tax reported

Exterior

• Parking: Paved driveway; Unpaved parking areas
• Utilities: Septic tank
• Home design: Manufactured residential home; Single-wide manufactured home
• Construction: Metal roof
• Exterior features: Cleared lot; Paved road access

Interior

• Kitchen: No kitchen appliances listed
• Bedrooms: Total of 1 room (may include living/sleeping area)
• Bathrooms: 1 full bathroom
• Heating & cooling: No cooling system
• Interior features: No built-in appliances listed
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $73k.

Deal economics

• At list price, monthly cash flow is $845 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $73k).
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.2% 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 Middle School (math 49% / reading 47%, grade C-, #286 of 571 statewide, top 50%, 900 students, 64% FRL); Crystal River High School (math 31% / reading 44%, grade F, #336 of 667 statewide, top 51%, 1,249 students, 56% FRL).
• Market conditions: 307 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 45% of the median local income ($46k/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 $505 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $73k implies a 265% 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; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,620 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.34% ✓
• Cap rate: 20.18%
• Cash-on-cash: 49.59%
• DSCR: 3.21
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $143,040
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2012 S Rock Crusher Rd	0.00mi	2/1.0	960 (0%)	0mo	$63,000	$66	100
2316 S Seiler Pt	0.40mi	3/2.0 (+1)	924 (-4%)	8mo	$138,000	$149	60
6200 W Heritage Dr	0.58mi	3/2.0 (+1)	960 (0%)	13mo	$170,000	$177	53
2010 S Goode Pt	0.14mi	3/2.0 (+1)	828 (-14%)	22mo	$105,000	$127	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: 47.3%
• Equity multiple: 3.05×
• Total profit: $42,000
• Equity at exit: $10,885

10-year hold

• IRR: 53.0%
• Equity multiple: 6.18×
• Total profit: $105,962
• Equity at exit: $6,312

Cash invested: $20,440 (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: 307
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,710 medium
• Mortgage (P&I): −$383
• Tax from tax record: −$93 /mo · $1,117/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $845

Break-even live

Break-even rent $641

Max offer price $73,000

Occupancy floor 46%

Sensitivity live

Price	-10% $886	-5% $865	+0% $845	+5% $824	+10% $803
Rent	-10% $710	-5% $777	+0% $845	+5% $912	+10% $980
Rate	-1.0pp $882	-0.5pp $863	base $845	+0.5pp $826	+1.0pp $807

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5353 W Customer Ct Lecanto, FL	2.0	1.5	912	$1,350	$1.48	22d	1	0.42mi
5652 W Nobis Cir Homosassa, FL	1.0	1.0	789	$1,800	$2.28	22d	1	0.81mi

Listing history 12 events

1. 2026-06-09
   days on market $73,000 Active 61 DOM
2. 2026-06-08
   days on market $73,000 Active 60 DOM
3. 2026-06-07
   days on market $73,000 Active 59 DOM
4. 2026-06-03
   days on market $73,000 Active 55 DOM
5. 2026-06-02
   days on market $73,000 Active 54 DOM
6. 2026-06-01
   days on market $73,000 Active 53 DOM
7. 2026-05-31
   days on market $73,000 Active 52 DOM
8. 2026-05-30
   days on market $73,000 Active 51 DOM
9. 2026-04-09
   listed $79,000 Active
10. 1998-12-08
    soldstatus $20,000
11. 1991-03-01
    soldstatus $6,800
12. 1981-10-01
    soldstatus $6,350

ⓘ 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: $1,117 · $93/mo
• Projected year-2 tax: $1,117 · $93/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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 25 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: $20,523
• − Mortgage interest: −$4,089
• − Property taxes: −$1,117
• − Insurance: −$365
• − Repairs & maintenance: −$1,642
• − Management: −$1,642
• − Depreciation: −$2,124
• Taxable income: $9,544
• Est. tax owed @ 24.0%: −$2,291
• After-tax cash flow: $7,846/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

+1144.1% since first listed

4 events — show timeline

• 2026-04-09 Listed $79,000 RACC
• 1998-12-08 Sold (Public Records) $20,000 Public Records
• 1991-03-01 Sold (Public Records) $6,800 Public Records
• 1981-10-01 Sold (Public Records) $6,350 Public Records

Property tax history

+26.4%/yr

Latest (2025): $1,117 · +8.8% YoY. Source: county tax records.