444 Korbus Rd · Spring Hill, FL 34604

$260,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 17 Days on market

Built 2023 10,842 sqft lot Est $271k · at est.

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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 +11.5/30.0
• ARV discount +9.4/15.0
• Schools +4.2/10.0
• DSCR +3.4/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Active Under Contract - Accepting Back Up Offers. WELCOME HOME to this 4 bedroom/2 bathroom property on almost ¼ acre. Built in 2023, this home is ready for you to make your dream of home ownership come true and even includes a 1 year home warranty. The heart of the home is the kitchen that is open to the living room, dining area and family room for a great entertaining space. The kitchen features an island, stainless steel appliances and has plenty of room for you, and whoever wants to help, cook those delicious meals. The primary bedroom features a walk-in closet and a private bathroom. The split bedroom floor plan includes bedrooms 2 through 4 and a second bathroom. The large laundry room includes the washer and dryer and so much storage space. Enjoy the Florida lifestyle outdoors on your patio overlooking the spacious backyard with plenty of room to add a pool, garden, or play area. Fenced on 3 sides and backed up to acreage for added privacy plus there is room for your toys. So much to enjoy about this home and it's close to shopping, dining, entertainment, outdoor adventures, and beaches PLUS within a mile to the Suncoast Parkway for easy access to Tampa Bay and Orlando areas!

Key facts

• Large cooking island
• Walk in closet
• 0.25 acre lot

Tags

• OPEN CONCEPT FLOOR PLAN
• LARGE COOKING ISLAND
• STAINLESS STEEL APPLIANCES
• WALK IN CLOSET
• PRIVATE EN SUITE BATHROOM
• SPLIT BEDROOM FLOOR PLAN

Property features AI

Finance

• Other: Property classified as residential (manufactured home); Zoned R1A; Approximately 0.25 acre lot (1/4 to less than 1/2 acre); Oak trees on the property; Road frontage on gravel road
• HOA & community: No association

Exterior

• Utilities: Well water; Septic tank; Broadband/high-speed internet available; Cable available; Electricity connected; Water connected
• Home design: Manufactured double-wide home; One story; South-facing
• Construction: Vinyl siding on frame construction; Shingle roof; Pillar/post/pier foundation; Built as completed (manufactured)
• Exterior features: Private mailbox; Chain link and wood fencing; Cleared, level and paved lot

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Electric water heater
• Bedrooms: 4 bedrooms
• Flooring: Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Open floor plan; Split bedroom layout; Thermostat; Vaulted ceilings; Walk-in closets
• Laundry & utility: Washer hookup; Electric dryer hookup; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $260k.

Deal economics

• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (20.0% below list).
• Recommended offer: $208k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.4% in Spring Hill — 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 63/100 on livability (#738 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities 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: Brooksville Elementary School (math 43% / reading 42%, grade F, #1,383 of 2,144 statewide, top 65%, 652 students, 68% FRL); Nature Coast Technical High (math 52% / reading 51%, grade D+, #167 of 667 statewide, top 25%, 1,298 students, 38% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 196 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 17 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

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 $207,991 (20.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.80% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.43%
• DSCR: 0.94
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $271,264
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15561 Wilson Blvd	0.52mi	4/2.0 (+1)	1,560 (-0%)	2mo	$270,000	$173	68
315 Jackson Ave	0.35mi	3/2.0	1,660 (+6%)	12mo	$285,000	$172	64
100 Kostka Dr	0.45mi	3/2.0	1,344 (-14%)	2mo	$175,000	$130	53
15507 Wilson Blvd	0.46mi	3/2.0	1,352 (-14%)	8mo	$255,000	$189	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 · 1.61% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.31×
• Total profit: $-50,532
• Equity at exit: $38,767

10-year hold

• IRR: -16.4%
• Equity multiple: 0.14×
• Total profit: $-62,602
• Equity at exit: $22,480

Cash invested: $72,800 (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 34604

• Home prices YoY: -23.4%
• Rents YoY: 1.6%
• Active inventory: 196
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,080 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$258 /mo · $3,096/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-87

Break-even live

Break-even rent $2,190

Max offer price $244,683

Occupancy floor 99%

Sensitivity live

Price	-10% $60	-5% $-13	+0% $-87	+5% $-160	+10% $-234
Rent	-10% $-251	-5% $-169	+0% $-87	+5% $-5	+10% $78
Rate	-1.0pp $44	-0.5pp $-21	base $-87	+0.5pp $-154	+1.0pp $-223

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15592 Enclave WAY Masaryktown, FL	1.0–3.0	1.0–2.0	1041	$1,945	$1.87	2d	21	0.27mi
495 Painted Leaf Dr Brooksville, FL	3.0	2.0	1814	$1,950	$1.07	25d	1	0.33mi
495 Painted Leaf Dr Brooksville, FL	3.0	2.0	1814	$1,950	$1.07	21d	1	0.33mi
15734 Stone House Dr Brooksville, FL	3.0	2.0	1462	$2,198	$1.50	4d	1	0.51mi
15405 Stone House Dr Brooksville, FL	3.0	2.0	1443	$2,095	$1.45	5d	1	0.54mi
14523 Wake Robin Dr Brooksville, FL	4.0	2.0	1604	$2,125	$1.32	24d	1	0.70mi
501 Monroe Ave Brooksville, FL	2.0	1.0	1241	$1,500	$1.21	5d	1	0.75mi
18816 Cimbora Dr Spring Hill, FL	3.0	3.5	2112	$2,800	$1.33	25d	1	1.07mi
75 Fairmont Dr Spring Hill, FL	3.0	2.0	2150	$2,160	$1.00	22d	1	1.41mi
177 Fairmont Dr Spring Hill, FL	3.0	2.0	2072	$1,979	$0.96	22d	1	1.48mi
446 Argyll Dr Spring Hill, FL	4.0	2.0	1809	$2,100	$1.16	25d	1	1.48mi

Listing history 13 events

1. 2026-06-18
   days on market $260,000 Active 17 DOM
2. 2026-06-17
   days on market $260,000 Active 16 DOM
3. 2026-06-16
   days on market $260,000 Active 15 DOM
4. 2026-06-15
   days on market $260,000 Active 14 DOM
5. 2026-06-13
   days on market $260,000 Active 12 DOM
6. 2026-06-13
   days on market $260,000 Active 11 DOM
7. 2026-06-09
   days on market $260,000 Active 8 DOM
8. 2026-06-08
   days on market $260,000 Active 7 DOM
9. 2026-06-07
   days on market $260,000 Active 6 DOM
10. 2026-06-04
    days on market $260,000 Active 3 DOM
11. 2026-06-03
    days on market $260,000 Active 2 DOM
12. 2026-06-02
    remarks 699-char remark
13. 2026-06-02
    listed $260,000 Active 1 DOM

ⓘ 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: $3,096 · $258/mo
• Projected year-2 tax: $3,096 · $258/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 ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,959
• − Mortgage interest: −$14,564
• − Property taxes: −$3,096
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,997
• − Management: −$1,997
• − Depreciation: −$7,564
• Taxable loss: −$5,559
• Est. tax savings @ 24.0%: +$1,334
• After-tax cash flow: $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: 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 — Spring Hill

• Score: 63/100
• State rank: #738
• US rank: #15937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Hill, FL
• County: Hernando County · 169,677 people
• City population: 83,915
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 13,642
• Household income: $84,833
• Rent vs Own: 8.5% rent · 91.5% own
• Severe rent burden: 142.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 10% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 10% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 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: ▼ -84.38%
• Current HPI: 276.4751
• Rent YoY: ▲ 1.61%
• 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

+825.3% since first listed

12 events — show timeline

• 2026-06-01 Listed $260,000 Stellar MLS as Distributed by MLS Grid
• 2024-06-14 Sold (MLS) $250,000 St. Augustine and St. Johns County Board of REALTORS®
• 2024-06-14 Sold (MLS) $250,000 Stellar MLS as Distributed by MLS Grid
• 2024-06-14 Sold (MLS) $250,000 HCAR
• 2024-05-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-05-29 Contingent — HCAR
• 2024-05-16 Price Changed $249,900 HCAR
• 2024-05-16 Price Changed $249,900 Stellar MLS as Distributed by MLS Grid
• 2024-03-28 Listed $249,900 St. Augustine and St. Johns County Board of REALTORS®
• 2024-03-28 Listed $260,000 HCAR
• 2024-03-27 Listed $260,000 Stellar MLS as Distributed by MLS Grid
• 1996-03-25 Sold (Public Records) $28,100 Public Records

Property tax history

+31.6%/yr

Latest (2025): $3,096 · -4.5% YoY. Source: county tax records.