11908 N Care Pt · Citrus Springs, FL 34433

$197,700

3 bd · 2.0 ba · 1,792 sqft · Manufactured · 92 Days on market

Built 2002 0.93 ac lot

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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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.8/10.0

Listing remarks MLS

This well-maintained 3-bedroom, 2-bathroom home offers 1,792 sq. ft. of living space on a generous 0.93-acre lot, providing a peaceful setting just minutes from some of Florida’s most sought-after natural springs. Brand new LVP flooring throughout and brand new well. Inside, you'll find a large sitting room with a cozy fireplace, ideal for gatherings or quiet evenings at home. The layout is open and inviting, with abundant natural light and plenty of potential to personalize. Two separate living areas and a formal dining room as well. This home is not shy on space! Located just steps from Lake Rousseau, the property includes deeded access to a separate vacant lot for direct water access—perfect for fishing, boating, or kayaking. You'll also be within 10 minutes of the crystal-clear Rainbow River and a short drive to Crystal River, known for its charming waterfront restaurants, manatee tours, and annual festivals. Whether you're looking for a permanent residence, vacation home, or investment opportunity, this property offers a rare combination of space, location, and value. No HOA, no lot rent and NO flood zone!

Key facts

• Rainbow river
• Deeded access
• Lvp flooring

Tags

• LVP FLOORING
• COZY FIREPLACE
• DEEDED ACCESS
• DIRECT WATER ACCESS
• LAKE ROUSSEAU
• RAINBOW RIVER

Property features AI

Exterior

• Utilities: Cable connected; Electricity connected; Private sewer; No public water
• Home design: Manufactured home (double wide); One story; Faces northeast
• Construction: Vinyl siding; Shingle roof; Other foundation; Built as a double wide manufactured home
• Exterior features: Private mailbox; Paved road access

Interior

• Kitchen: Dishwasher; Range; Range hood; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Ceiling fans; Wood-burning fireplace
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $198k.

Deal economics

• At list price, monthly cash flow is $659 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $198k).
• Recommended offer: $180k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 5.1% in Citrus 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 68/100 on livability (#521 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety C-, employment D+.
• 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: 642 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $55k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago; this cycle's ask has dropped $21k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $198k implies a 1877% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,907 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 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. 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: 1.26% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.29%
• DSCR: 1.64
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $9,960
• Equity at exit: $29,478

10-year hold

• IRR: 14.1%
• Equity multiple: 2.13×
• Total profit: $62,769
• Equity at exit: $17,093

Cash invested: $55,356 (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 34433

• Home prices YoY: -1.8%
• Active inventory: 642
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,037
• Tax from tax record: −$197 /mo · $2,359/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $659

Break-even live

Break-even rent $1,665

Max offer price $197,700

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: $49,425
• Closing costs: $5,931
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12950 SW 233rd Terrace Rd Dunnellon, FL	3.0	2.5	1612	$2,500	$1.55	13d	1	1.38mi
13550 Highway 40 E Dunnellon, FL	3.0	2.0	1350	$2,500	$1.85	21d	1	1.42mi
13552 Highway 40 E Dunnellon, FL	3.0	2.0	1350	$2,500	$1.85	13d	1	1.43mi

Listing history 32 events

1. 2026-06-19
   days on market $197,700 Active 92 DOM
2. 2026-06-18
   days on market $197,700 Active 91 DOM
3. 2026-06-17
   days on market $197,700 Active 90 DOM
4. 2026-06-16
   days on market $197,700 Active 89 DOM
5. 2026-06-15
   days on market $197,700 Active 88 DOM
6. 2026-06-14
   days on market $197,700 Active 86 DOM
7. 2026-06-13
   days on market $197,700 Active 85 DOM
8. 2026-06-09
   days on market $197,700 Active 82 DOM
9. 2026-06-08
   days on market $197,700 Active 81 DOM
10. 2026-06-07
    days on market $197,700 Active 80 DOM
11. 2026-06-03
    days on market $197,700 Active 76 DOM
12. 2026-06-02
    days on market $197,700 Active 75 DOM
13. 2026-06-01
    days on market $197,700 Active 74 DOM
14. 2026-05-31
    days on market $197,700 Active 73 DOM
15. 2026-05-30
    days on market $197,700 Active 72 DOM
16. 2026-04-20
    price $197,700
17. 2026-04-19
    price $197,700 1143-char remark

    Show marketing remark (1143 chars)

    This well-maintained 3-bedroom, 2-bathroom home offers 1,792 sq. ft. of living space on a generous 0.93-acre lot, providing a peaceful setting just minutes from some of Florida’s most sought-after natural springs. Brand new LVP flooring throughout and brand new well. Inside, you'll find a large sitting room with a cozy fireplace, ideal for gatherings or quiet evenings at home. The layout is open and inviting, with abundant natural light and plenty of potential to personalize. Two separate living areas and a formal dining room as well. This home is not shy on space! Located just steps from Lake Rousseau, the property includes deeded access to a separate vacant lot for direct water access—perfect for fishing, boating, or kayaking. You'll also be within 10 minutes of the crystal-clear Rainbow River and a short drive to Crystal River, known for its charming waterfront restaurants, manatee tours, and annual festivals. Whether you're looking for a permanent residence, vacation home, or investment opportunity, this property offers a rare combination of space, location, and value. No HOA, no lot rent and NO flood zone!

18. 2026-03-19
    listed $219,000 Active
19. 2026-02-19
    listed $219,000 Active 1143-char remark

    Show marketing remark (1143 chars)

    This well-maintained 3-bedroom, 2-bathroom home offers 1,792 sq. ft. of living space on a generous 0.93-acre lot, providing a peaceful setting just minutes from some of Florida’s most sought-after natural springs. Brand new LVP flooring throughout and brand new well. Inside, you'll find a large sitting room with a cozy fireplace, ideal for gatherings or quiet evenings at home. The layout is open and inviting, with abundant natural light and plenty of potential to personalize. Two separate living areas and a formal dining room as well. This home is not shy on space! Located just steps from Lake Rousseau, the property includes deeded access to a separate vacant lot for direct water access—perfect for fishing, boating, or kayaking. You'll also be within 10 minutes of the crystal-clear Rainbow River and a short drive to Crystal River, known for its charming waterfront restaurants, manatee tours, and annual festivals. Whether you're looking for a permanent residence, vacation home, or investment opportunity, this property offers a rare combination of space, location, and value. No HOA, no lot rent and NO flood zone!

20. 2026-01-10
    historical
21. 2025-11-06
    price $207,000
22. 2025-11-06
    price $207,000
23. 2025-09-16
    listed $219,000 Active
24. 2020-05-23
    soldstatus $10,000
25. 2020-01-07
    listed $11,200
26. 2017-05-04
    soldstatus $8,500
27. 2017-05-04
    soldstatus $8,500
28. 2016-11-16
    listed $10,900
29. 2016-11-16
    listed $10,900
30. 2006-02-03
    soldstatus $73,000
31. 1988-08-01
    soldstatus $22,000
32. 1983-01-01
    soldstatus $21,500

ⓘ 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: $2,359 · $197/mo
• Projected year-2 tax: $2,359 · $197/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$11,074
• − Property taxes: −$2,359
• − Insurance: −$988
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$5,751
• Taxable income: $5,027
• Est. tax owed @ 24.0%: −$1,206
• After-tax cash flow: $6,705/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 — Citrus Springs

• Score: 68/100
• State rank: #521
• US rank: #9598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 10,730
• Population (ZIP): 8,218

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 13%
• Hispanic origin (detail): Puerto Rican 6% Cuban 1%
• Common ancestry: Italian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 90% English-only · Spanish 9% Other Indo-European 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: ▼ -6.35%
• Current HPI: 340.9844
• 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

+819.5% since first listed

17 events — show timeline

• 2026-04-20 Price Changed $197,700 Stellar MLS as Distributed by MLS Grid
• 2026-04-19 Price Changed $197,700 RACC
• 2026-03-19 Listed $219,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-19 Listed $219,000 RACC
• 2026-01-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-06 Price Changed $207,000 RACC
• 2025-11-06 Price Changed $207,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-16 Listed $219,000 Stellar MLS as Distributed by MLS Grid
• 2020-05-23 Sold (MLS) $10,000 Stellar MLS as Distributed by MLS Grid
• 2020-01-07 Listed $11,200 Stellar MLS as Distributed by MLS Grid
• 2017-05-04 Sold (MLS) $8,500 Stellar MLS as Distributed by MLS Grid
• 2017-05-04 Sold (MLS) $8,500 RACC
• 2016-11-16 Listed $10,900 Stellar MLS as Distributed by MLS Grid
• 2016-11-16 Listed $10,900 RACC
• 2006-02-03 Sold (Public Records) $73,000 Public Records
• 1988-08-01 Sold (Public Records) $22,000 Public Records
• 1983-01-01 Sold (Public Records) $21,500 Public Records

Property tax history

+27.5%/yr

Latest (2025): $2,359 · +614.1% YoY. Source: county tax records.