16083 Naples St · Spring Hill, FL 34604

$99,900

2 bd · 1.0 ba · 660 sqft · Manufactured public records · 70 Days on market

Built 1981 7,740 sqft lot Est $90k · 11% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Welcome to this move-in ready mobile home with land included. A rare and affordable opportunity with NO LOT RENT! Seller offering closing cost assistance! A great opportunity to save money upfront and make your move easier. This charming property features a freshly renovated interior, new paint throughout, and two new mini-slit A/C units for energy-efficient comfort. The water heater is only 4 years old, and the septic tank was emptied/serviced in 2025, offering peace of mindful the owner. Enjoy the quiet setting in a peaceful community with convenient access from both the front and back entrances. Spacious yard with plenty of room to relax, garden, e

Key facts

• Water heater
• New paint
• Septic tank serviced

Tags

• MOVE IN READY
• FRESHLY RENOVATED INTERIOR
• NEW PAINT
• NEW MINI SPLIT A C UNITS
• WATER HEATER
• SEPTIC TANK SERVICED

Property features AI

Finance

• Other: Living area reported as 660 square feet; Total rooms: 6; Number of septics: 1; Universal property ID available
• Financial info: No lease restrictions; Unfurnished; Annual tax reported
• HOA & community: No association

Exterior

• Utilities: Public water; Septic tank sewer; Private utilities
• Home design: Manufactured home (single wide); One story; South-facing entry
• Construction: Other construction materials; Other roof; Pillar/post/pier foundation; Completed condition; Built on a 0.2 acre lot
• Exterior features: Road surface: other

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Mini-split cooling unit(s)
• Interior features: Eat-in kitchen; Living room and dining room combined
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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: Moton Elementary School (math 46% / reading 39%, grade F, #1,383 of 2,144 statewide, top 65%, 679 students, 79% FRL); D. S. Parrott Middle School (math 40% / reading 40%, grade F, #368 of 571 statewide, top 65%, 835 students, 67% FRL); Nature Coast Technical High (math 52% / reading 51%, grade D+, #167 of 667 statewide, top 25%, 1,298 students, 38% FRL).
• Market conditions: Rents rising (+1.6%/yr); 196 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $100k implies a 651% 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 $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 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. 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: 1.51% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.21%
• DSCR: 2.03
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $89,760
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16124 Fruitville St	0.66mi	2/2.0	660 (0%)	3mo	$90,000	$136	63
16137 Melbourne St	0.24mi	2/2.0	748 (+13%)	11mo	$170,000	$227	54
16123 Sarasota St	0.69mi	2/1.0	708 (+7%)	7mo	$90,000	$127	50
15435 Sinclair Rd	0.52mi	2/2.0	744 (+13%)	17mo	$85,000	$114	37

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: 14.7%
• Equity multiple: 1.58×
• Total profit: $16,197
• Equity at exit: $14,895

10-year hold

• IRR: 22.4%
• Equity multiple: 2.79×
• Total profit: $50,187
• Equity at exit: $8,638

Cash invested: $27,972 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,504 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$81 /mo · $977/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $541

Break-even live

Break-even rent $819

Max offer price $99,900

Occupancy floor 59%

Sensitivity live

Price	-10% $598	-5% $569	+0% $541	+5% $513	+10% $485
Rent	-10% $422	-5% $482	+0% $541	+5% $601	+10% $660
Rate	-1.0pp $591	-0.5pp $567	base $541	+0.5pp $515	+1.0pp $489

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
286 Cherry Birch LN Masaryktown, FL	3.0	1.0–2.0	964	$1,702	$1.77	1d	44	1.45mi

Listing history 11 events

1. 2026-05-18
   status Pending
2. 2026-05-02
   status Active
3. 2026-04-24
   status Pending
4. 2026-04-14
   status Active
5. 2026-04-14
   price $99,900
6. 2026-03-16
   historical
7. 2026-03-05
   price $119,900
8. 2026-02-16
   status Active
9. 2026-02-02
   status Pending
10. 2026-01-16
    listed $129,900 Active
11. 1996-09-06
    soldstatus $13,300

ⓘ 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: $977 · $81/mo
• Projected year-2 tax: $977 · $81/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 ≥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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,046
• − Mortgage interest: −$5,596
• − Property taxes: −$977
• − Insurance: −$500
• − Repairs & maintenance: −$1,444
• − Management: −$1,444
• − Depreciation: −$2,906
• Taxable income: $5,180
• Est. tax owed @ 24.0%: −$1,243
• After-tax cash flow: $5,250/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

+651.1% since first listed

11 events — show timeline

• 2026-05-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-14 Price Changed $99,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-16 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $119,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-16 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 1996-09-06 Sold (Public Records) $13,300 Public Records

Property tax history

+8.5%/yr

Latest (2025): $977 · -0.9% YoY. Source: county tax records.