682 County Road 481w · Lake Panasoffkee, FL 33538

$139,000

3 bd · 2.0 ba · 1,920 sqft · Manufactured public records · 236 Days on market

Built 1988 0.96 ac lot Est $273k · 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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• Appreciation +7.5/10.0
• 1% rule +6.4/10.0
• Schools +5.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover the potential in this 3 bedroom, 2 bath manufactured home situated on nearly an acre in Lake Panasoffkee. The . 96-acre property is fully enclosed with chain link fencing and includes a handy shed and carport for extra storage and convenience. Inside, the home offers a cozy fireplace and a spacious layout ready for your personal touch. While the home could use a little updating, the seller is open to making some improvements, giving buyers added flexibility. With plenty of space and great features, this property is a fantastic opportunity to create your own retreat.

Key facts

• Handy shed
• Chain link fencing
• Carport

Tags

• CHAIN LINK FENCING
• HANDY SHED
• CARPORT
• COZY FIREPLACE
• SPACIOUS LAYOUT

Property features AI

Finance

• Other: Approximately 0.96 acres (level, oversized, paved lot); Paved road access
• HOA & community: No HOA/association indicated

Exterior

• Parking: Open ground-level parking; Carport with 2 spaces
• Utilities: Well water; Septic tank; Other utilities
• Home design: Manufactured home (double wide); One level; North-facing entry
• Construction: Vinyl siding; Metal roof; Other foundation details; Built as a completed property
• Exterior features: Other exterior features; Chain link fencing; Shed(s); Workshop

Interior

• Kitchen: Other appliances
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Other heating; Central air conditioning
• Interior features: Other interior features
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 5.1% in Lake Panasoffkee — 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 72/100 on livability (#332 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-.
• Sumter (rural): math 61% / reading 61% proficiency, ranked #11 of 73 in FL (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 86 active listings in the ZIP; 3,961 units permitted in Sumter County in 2024 (248 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($961 loan paydown + $7k appreciation (5.0% local appreciation)).
• Sumter County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 236 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $139k implies a 153% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 236 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.14% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.62%
• DSCR: 1.56
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $272,640
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1193 NW 12th Ln	0.56mi	4/2.0 (+1)	2,010 (+5%)	3mo	$285,900	$142	59

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 2.49×
• Total profit: $57,961
• Equity at exit: $78,663

10-year hold

• IRR: 23.0%
• Equity multiple: 4.92×
• Total profit: $152,650
• Equity at exit: $135,674

Cash invested: $38,920 (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 33538

• Home prices YoY: 1.5%
• Active inventory: 86
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,580 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$52 /mo · $620/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $409

Break-even live

Break-even rent $1,061

Max offer price $139,000

Occupancy floor 69%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-31
   days on market $139,000 Active 236 DOM
2. 2026-05-30
   days on market $139,000 Active 235 DOM
3. 2025-12-03
   price $139,000 581-char remark

   Show marketing remark (581 chars)

   Discover the potential in this 3 bedroom, 2 bath manufactured home situated on nearly an acre in Lake Panasoffkee. The . 96-acre property is fully enclosed with chain link fencing and includes a handy shed and carport for extra storage and convenience. Inside, the home offers a cozy fireplace and a spacious layout ready for your personal touch. While the home could use a little updating, the seller is open to making some improvements, giving buyers added flexibility. With plenty of space and great features, this property is a fantastic opportunity to create your own retreat.

4. 2025-12-03
   price $139,000

   Show marketing remark (581 chars)

   Discover the potential in this 3 bedroom, 2 bath manufactured home situated on nearly an acre in Lake Panasoffkee. The . 96-acre property is fully enclosed with chain link fencing and includes a handy shed and carport for extra storage and convenience. Inside, the home offers a cozy fireplace and a spacious layout ready for your personal touch. While the home could use a little updating, the seller is open to making some improvements, giving buyers added flexibility. With plenty of space and great features, this property is a fantastic opportunity to create your own retreat.

5. 2025-11-10
   price $159,000 581-char remark

   Show marketing remark (581 chars)

   Discover the potential in this 3 bedroom, 2 bath manufactured home situated on nearly an acre in Lake Panasoffkee. The . 96-acre property is fully enclosed with chain link fencing and includes a handy shed and carport for extra storage and convenience. Inside, the home offers a cozy fireplace and a spacious layout ready for your personal touch. While the home could use a little updating, the seller is open to making some improvements, giving buyers added flexibility. With plenty of space and great features, this property is a fantastic opportunity to create your own retreat.

6. 2025-10-08
   listed $169,000 Active 581-char remark

   Show marketing remark (581 chars)

   Discover the potential in this 3 bedroom, 2 bath manufactured home situated on nearly an acre in Lake Panasoffkee. The . 96-acre property is fully enclosed with chain link fencing and includes a handy shed and carport for extra storage and convenience. Inside, the home offers a cozy fireplace and a spacious layout ready for your personal touch. While the home could use a little updating, the seller is open to making some improvements, giving buyers added flexibility. With plenty of space and great features, this property is a fantastic opportunity to create your own retreat.

7. 2025-10-07
   listed $169,000 Active
8. 1999-12-01
   soldstatus $54,900

ⓘ 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: $620 · $52/mo
• Projected year-2 tax: $1,154 · $96/mo
• Expected delta: +$534/yr (+$45/mo · 86.2%)

ⓘ 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 · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,955
• − Mortgage interest: −$7,786
• − Property taxes: −$620
• − Insurance: −$695
• − Repairs & maintenance: −$1,516
• − Management: −$1,516
• − Depreciation: −$4,044
• Taxable income: $2,778
• Est. tax owed @ 24.0%: −$667
• After-tax cash flow: $4,246/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: Sumter
• NCES district ID: 1201800
• Math proficiency: 61% ▼ -4.00%
• Reading proficiency: 61% ▼ -2.00%
• Median HH income: $48,240
• Composite: 51.74/100
• National rank: #1682
• State rank: #11 of 73 in FL

Livability — Lake Panasoffkee

• Score: 72/100
• State rank: #332
• US rank: #5777

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Panasoffkee, FL
• Population (ZIP): 5,748

Population outlook (Sumter County) Hauer SSP2

• Today (2025): 161,172 people
• By 2030: 180,083 · +11.7%
• By 2040: 209,892 · +30.2%
• By 2050: 234,186 · +45.3%
• By 2075: 284,602 · +76.6%
• By 2100: 317,039 · +96.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 7% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Sumter

• 2024 margin: Solid R (+37.6) · D 30.9% · R 68.6%
• 2008→2024 swing: -10.6pp toward R · 2008: -27.0pp · 2024: -37.6pp
• All cycles: 2024: R+37.6 2020: R+36.1 2016: R+39.2 2012: R+34.9 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.99%
• Current HPI: 329.8431
• Rent YoY: —
• Metro: —
• 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

+153.2% since first listed

6 events — show timeline

• 2025-12-03 Price Changed $139,000 RACC
• 2025-12-03 Price Changed $139,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-10 Price Changed $159,000 RACC
• 2025-10-08 Listed $169,000 RACC
• 2025-10-07 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 1999-12-01 Sold (Public Records) $54,900 Public Records

Property tax history

+2.9%/yr

Latest (2025): $620 · +1.1% YoY. Source: county tax records.