3948 W Klett Path · Homosassa Springs, FL 34461

$144,900

3 bd · 2.0 ba · 960 sqft · Manufactured public records · 106 Days on market

Built 1991 0.53 ac lot Est $142k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +6.6/15.0
• 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

TOTALLY REMODELED and ready for its new owner. This 3/2 mobile home has been tastefully updated with new luxury vinyl flooring throughout. Freshly painted. BRAND NEW kitchen cabinets, stone counters and new stainless steel appliances. Roof 2023. HVAC 2025. BRAND NEW windows and siding. All new plumbing and electrical. Situated on a little more than a half-acre there's NO FLOOD, NO HOA, NO DEED RESTRICTIONS here. BRAND NEW well tank and pump. Both bathrooms have been updated to tile showers with new vanities. Inside laundry. Large, detached, metal shed. New fans and fixtures throughout. Tucked away in a private setting but close to the Suncoast Parkway, Lecanto Highway and Grover Cleveland B

Key facts

• New plumbing
• New siding
• New kitchen cabinets

Tags

• NEW KITCHEN CABINETS
• STONE COUNTERS
• NEW STAINLESS STEEL APPLIANCES
• NEW WINDOWS
• NEW SIDING
• NEW PLUMBING

Property features AI

Exterior

• Utilities: Well water; Septic tank; Electricity available; Public utilities available
• Home design: Manufactured home (double wide); Single-story; North-facing
• Construction: Vinyl siding; Shingle roof; Pillar/post/pier foundation; Built as a manufactured home (double wide)
• Exterior features: Lot approximately 0.53 acres; Lot dimensions about 108 x 211; Roads: dirt and limerock

Interior

• Kitchen: Microwave; Range
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Stone countertops
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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-, schools F, amenities 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.
• Market conditions: 197 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($63k/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 $4k 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 $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $9k; list at $145k implies a 1510% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,859 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.35% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.70%
• DSCR: 1.79
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $142,080
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4116 W Oaklawn St	0.62mi	3/1.5	960 (0%)	10mo	$105,000	$109	61
4729 S Hatteray Pt	0.41mi	3/2.0	1,080 (+12%)	6mo	$160,000	$148	56

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: 9.2%
• Equity multiple: 1.36×
• Total profit: $14,636
• Equity at exit: $21,605

10-year hold

• IRR: 18.3%
• Equity multiple: 2.52×
• Total profit: $61,816
• Equity at exit: $12,528

Cash invested: $40,572 (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 34461

• Home prices YoY: -10.2%
• Active inventory: 197
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,957 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$127 /mo · $1,525/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $599

Break-even live

Break-even rent $1,199

Max offer price $144,900

Occupancy floor 64%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $144,900 Active 106 DOM
2. 2026-06-18
   days on market $144,900 Active 105 DOM
3. 2026-06-17
   days on market $144,900 Active 104 DOM
4. 2026-06-16
   days on market $144,900 Active 103 DOM
5. 2026-06-15
   days on market $144,900 Active 102 DOM
6. 2026-06-14
   days on market $144,900 Active 100 DOM
7. 2026-06-13
   statusdays on market $144,900 Active 99 DOM
8. 2026-06-08
   statusdays on market $144,900 Pending 98 DOM
9. 2026-06-03
   days on market $144,900 Active 96 DOM
10. 2026-06-02
    days on market $144,900 Active 95 DOM
11. 2026-06-01
    days on market $144,900 Active 94 DOM
12. 2026-05-31
    days on market $144,900 Active 93 DOM
13. 2026-05-30
    days on market $144,900 Active 92 DOM
14. 2026-05-06
    price $144,900
15. 2026-04-29
    price $149,900
16. 2026-04-20
    price $169,900
17. 2026-03-16
    price $179,900
18. 2026-02-27
    listed $199,900 Active
19. 2024-02-01
    price $72,000
20. 2024-01-24
    price $79,000
21. 2024-01-19
    price $89,000
22. 1994-06-01
    soldstatus $9,000

ⓘ 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: $1,525 · $127/mo
• Projected year-2 tax: $1,525 · $127/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 10/10 Extreme 7 d/yr ≥108°F today · 26 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: $23,482
• − Mortgage interest: −$8,117
• − Property taxes: −$1,525
• − Insurance: −$724
• − Repairs & maintenance: −$1,879
• − Management: −$1,879
• − Depreciation: −$4,215
• Taxable income: $5,143
• Est. tax owed @ 24.0%: −$1,234
• After-tax cash flow: $5,948/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): 13,377
• Household income: $63,418
• Rent vs Own: 10.7% rent · 89.3% own
• Severe rent burden: 41.0

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 8% Two or more races 7% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -29.48%
• Current HPI: 258.0866
• 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

+1510.0% since first listed

9 events — show timeline

• 2026-05-06 Price Changed $144,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $169,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-16 Price Changed $179,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2024-02-01 Price Changed $72,000 RACC
• 2024-01-24 Price Changed $79,000 RACC
• 2024-01-19 Price Changed $89,000 RACC
• 1994-06-01 Sold (Public Records) $9,000 Public Records

Property tax history

+29.0%/yr

Latest (2025): $1,525 · +6.0% YoY. Source: county tax records.