12115 Fairway Ave · High Point, FL 34613

$99,900

2 bd · 2.0 ba · 805 sqft · Manufactured public records · 18 Days on market

Built 1979 0.28 ac lot Est $130k · 23% under $46/mo HOA · 3% of rent

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

Listing remarks MLS

This 2-bedroom, 2-bathroom home features a rare double lot with tons of yard space and a newer roof (2024) already in place. The home needs TLC and is priced accordingly--perfect for handymen, investors, or anyone looking to customize their own space. Located in the vibrant & active 55+ High Point Golf Community that offers tons of amenities such as Golf, tennis, pickleball, heated pool, social events and so much more. High Point is located close to shopping, restaurants, entertainment, and medical facilities. Low HOA fees and you OWN YOUR OWN LAND.

Key facts

• Low hoa fees
• Own your own land
• Newer roof

Tags

• DOUBLE LOT
• YARD SPACE
• NEWER ROOF
• HEATED POOL
• LOW HOA FEES
• OWN YOUR OWN LAND

Property features AI

Finance

• Other: Property type: Residential — Manufactured Home; Lot size approximately 0.28 acres (one-quarter to less than one-half acre); Zoning: PDP(MF)
• Financial info: Total monthly fees: $46; Total annual fees: $552
• HOA & community: Monthly HOA: $46; Association amenities include clubhouse, gated community, golf course, pickleball courts, and pool; Buyer approval required; Deed restrictions; Senior community; Cats and dogs allowed

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Residential manufactured home; Double wide; One level; Home faces south; Entry on main level
• Construction: Metal siding; Shingle roof; Pillar/post/pier foundation; Built as a manufactured home
• Exterior features: Exterior lighting; Paved road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: High ceilings; Open floorplan
• Laundry & utility: Laundry: Other

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/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: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 5.8% in High Point — 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 64/100 on livability (#677 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, schools F, 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.
• Market conditions: 691 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• This rent runs 35% of the median local income ($59k/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 $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 + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.72% ✓
• Cap rate: 13.57%
• Cash-on-cash: 26.00%
• DSCR: 2.16
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $129,605
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8348 Highpoint Blvd	0.10mi	2/2.0	805 (0%)	4mo	$143,000	$178	92
8479 Highpoint Blvd	0.20mi	2/2.0	736 (-9%)	10mo	$120,000	$163	68
8013 Eastern Circle Dr	0.66mi	2/2.0	828 (+3%)	2mo	$120,000	$145	63
8114 Western Circle Dr	0.41mi	2/1.0	784 (-3%)	13mo	$130,000	$166	61
12334 Fairway Ave	0.43mi	2/1.5	744 (-8%)	7mo	$105,000	$141	59
7526 Highpoint Blvd	0.58mi	2/2.0	768 (-5%)	14mo	$122,000	$159	54
7540 Western Circle Dr	0.56mi	2/1.0	768 (-5%)	13mo	$130,000	$169	51
7538 Fairlane Ave	0.68mi	2/1.0	720 (-11%)	8mo	$112,000	$156	40
7549 Fairlane Ave	0.68mi	2/2.0	900 (+12%)	16mo	$144,900	$161	35

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: 19.7%
• Equity multiple: 1.80×
• Total profit: $22,478
• Equity at exit: $14,895

10-year hold

• IRR: 28.0%
• Equity multiple: 3.49×
• Total profit: $69,542
• 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 34613

• Home prices YoY: -17.2%
• Active inventory: 691
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,722 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$142 /mo · $1,709/yr
• Insurance: −$42
• HOA: −$46
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $606

Break-even live

Break-even rent $954

Max offer price $99,900

Occupancy floor 60%

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 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12103 Fairway Ave Brooksville, FL	2.0	2.0	864	$1,725	$2.00	1d	1	0.02mi
12136 Fairway Ave Brooksville, FL	2.0	2.0	920	$1,650	$1.79	24d	1	0.07mi
7513 Highpoint Blvd Brooksville, FL	2.0	1.0	672	$1,150	$1.71	24d	1	0.60mi
7402 Eastern Circle Dr Brooksville, FL	2.0	1.0	720	$1,200	$1.67	24d	1	0.87mi

HOA detail

• Monthly dues: $46 · $552/yr
• Likely covers: pool

Listing history 19 events

1. 2026-06-15
   status $99,900 Pending 18 DOM
2. 2026-06-15
   days on market $99,900 Active 18 DOM
3. 2026-06-13
   days on market $99,900 Active 16 DOM
4. 2026-06-13
   pricedays on market $99,900 Active 15 DOM
5. 2026-06-09
   days on market $109,900 Active 12 DOM
6. 2026-06-08
   days on market $109,900 Active 11 DOM
7. 2026-06-07
   days on market $109,900 Active 10 DOM
8. 2026-06-04
   days on market $109,900 Active 7 DOM
9. 2026-06-03
   days on market $109,900 Active 6 DOM
10. 2026-06-02
    days on market $109,900 Active 5 DOM
11. 2026-06-01
    days on market $109,900 Active 4 DOM
12. 2026-05-31
    days on market $109,900 Active 3 DOM
13. 2026-05-28
    listed $109,900 Active 561-char remark

    Show marketing remark (561 chars)

    This 2-bedroom, 2-bathroom home features a rare double lot with tons of yard space and a newer roof (2024) already in place. The home needs TLC and is priced accordingly--perfect for handymen, investors, or anyone looking to customize their own space. Located in the vibrant & active 55+ High Point Golf Community that offers tons of amenities such as Golf, tennis, pickleball, heated pool, social events and so much more. High Point is located close to shopping, restaurants, entertainment, and medical facilities. Low HOA fees and you OWN YOUR OWN LAND.

14. 2026-05-28
    listed $109,900 Active

    Show marketing remark (561 chars)

    This 2-bedroom, 2-bathroom home features a rare double lot with tons of yard space and a newer roof (2024) already in place. The home needs TLC and is priced accordingly--perfect for handymen, investors, or anyone looking to customize their own space. Located in the vibrant & active 55+ High Point Golf Community that offers tons of amenities such as Golf, tennis, pickleball, heated pool, social events and so much more. High Point is located close to shopping, restaurants, entertainment, and medical facilities. Low HOA fees and you OWN YOUR OWN LAND.

15. 2005-06-27
    soldstatus $70,000
16. 2005-06-21
    soldstatus $70,000 151-char remark

    Show marketing remark (151 chars)

    Beautifully maintained 2/2 on double lot. Totally landscaped, very private, newer roof, AC, HW heater, sprinkler sys on both lots, new copper plumbing.

17. 2005-01-27
    listed $79,900 151-char remark

    Show marketing remark (151 chars)

    Beautifully maintained 2/2 on double lot. Totally landscaped, very private, newer roof, AC, HW heater, sprinkler sys on both lots, new copper plumbing.

18. 1992-03-01
    soldstatus $6,500
19. 1988-05-01
    soldstatus $31,000

ⓘ 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: $1,709 · $142/mo
• Projected year-2 tax: $1,709 · $142/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $20,659
• − Mortgage interest: −$5,596
• − Property taxes: −$1,709
• − Insurance: −$500
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − HOA: −$552
• − Depreciation: −$2,906
• Taxable income: $6,090
• Est. tax owed @ 24.0%: −$1,462
• After-tax cash flow: $5,811/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 — High Point

• Score: 64/100
• State rank: #677
• US rank: #14099

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: High Point, FL
• County: Hernando County · 169,677 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 19,337
• Household income: $58,596
• Rent vs Own: 9.2% rent · 90.8% own
• Severe rent burden: 307.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -57.51%
• Current HPI: 276.2229
• Rent YoY: —
• 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

+254.5% since first listed

7 events — show timeline

• 2026-05-28 Listed $109,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-28 Listed $109,900 HCAR
• 2005-06-27 Sold (Public Records) $70,000 Public Records
• 2005-06-21 Sold (MLS) $70,000 HCAR
• 2005-01-27 Listed $79,900 HCAR
• 1992-03-01 Sold (Public Records) $6,500 Public Records
• 1988-05-01 Sold (Public Records) $31,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $1,709 · +0.6% YoY. Source: county tax records.