4880 N Highland Park · Hernando, FL 34442

$225,000

4 bd · 2.5 ba · 1,847 sqft · Manufactured public records · 32 Days on market

Built 1973 1.25 ac lot Est $297k · 24% under

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Why this score? — see what drove the C 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 +19.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.4/10.0
• 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 MLS

Move-in ready and packed with over $100,000 in upgrades, this beautifully updated home on 1.25 acres offers the perfect blend of modern comfort and peaceful living in Hernando. Featuring a large workshop, fully fenced property, and cleared land, this home is ideal for those seeking space and functionality. MINUTES FROM LOCAL SHOPS, COFFEE & RESTAURANTS. Major improvements include 2022 updates such as a NEW ROOF all new FLOORING, LIGHT FIXTURES interior PAINT. In 2023 upgrades include an UPGRADED Frigidaire and Samsung stainless steel APPLIANCES and range hood. In 2024, the exterior was freshly painted, NEW GUTTERS were installed, and a MILLINGS DRIVEWAY was added. Recent enhancements include a NEW SPLIT UNIT and upgraded 220-AMP RV/Tesla hookup, along with a SMART THERMOSTAT, electrical plate updates, and screened lanai improvements (2026). Enjoy added features like a new entry gate and modern lighting throughout. Located in a FEMA X zone and ideally situated near the Withlacoochee State Trail, as well as Crystal River and the World Equestrian Center, this property offers a quiet lifestyle with convenient access to outdoor recreation and everything Citrus County has to offer.

Key facts

• New flooring
• Cleared land
• Large workshop

Tags

• LARGE WORKSHOP
• FULLY FENCED PROPERTY
• CLEARED LAND
• NEW ROOF
• NEW FLOORING
• NEW LIGHT FIXTURES

Property features AI

Finance

• Financial info: No pet restrictions (pets allowed)

Exterior

• Parking: Driveway; RV access/parking
• Utilities: Well water; Septic tank; Cable available
• Home design: Manufactured home; Aluminum siding and frame construction; Shingle roof; Faces northeast; Slab foundation; One to two acres lot; City street frontage; Paved road access
• Construction: Manufactured construction; Aluminum siding; Frame; Shingle roof; Slab foundation
• Exterior features: Enclosed porch; Screened porch; Fence; Outdoor lighting; Shed(s)

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Electric heating; Wall furnace
• Interior features: Blinds; Bedroom on main level; Kitchen and dining combined; Walk-in closet(s); Workshop
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (5.8% below list).
• Recommended offer: $212k (5.8% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 5.6% in Hernando — 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 (#402 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, 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: 444 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 44% of the median local income ($57k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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.
• Current owner paid $75k; list at $225k implies a 200% 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; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,942 (5.8% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.94% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.50%
• DSCR: 1.20
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $297,367
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5272 N Western Dr	0.60mi	3/2.0 (-1)	1,800 (-2%)	10mo	$290,000	$161	52
5471 N Highland Park Dr	0.71mi	3/2.0 (-1)	1,680 (-9%)	0mo	$315,000	$188	44
1180 E Winnetka St	0.71mi	4/2.0	1,760 (-5%)	15mo	$227,500	$129	44

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: -9.3%
• Equity multiple: 0.66×
• Total profit: $-21,448
• Equity at exit: $33,548

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $543
• Equity at exit: $19,454

Cash invested: $63,000 (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 34442

• Home prices YoY: -21.9%
• Active inventory: 444
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,119 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$164 /mo · $1,972/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $236

Break-even live

Break-even rent $1,820

Max offer price $225,000

Occupancy floor 84%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5135 N Western Dr Hernando, FL	3.0	2.0	1512	$1,825	$1.21	21d	1	0.42mi

Listing history 31 events

1. 2026-06-19
   days on market $225,000 Active 32 DOM
2. 2026-06-18
   days on market $225,000 Active 31 DOM
3. 2026-06-17
   days on market $225,000 Active 30 DOM
4. 2026-06-16
   days on market $225,000 Active 29 DOM
5. 2026-06-15
   days on market $225,000 Active 28 DOM
6. 2026-06-14
   days on market $225,000 Active 26 DOM
7. 2026-06-13
   days on market $225,000 Active 25 DOM
8. 2026-06-09
   days on market $225,000 Active 22 DOM
9. 2026-06-08
   days on market $225,000 Active 21 DOM
10. 2026-06-07
    days on market $225,000 Active 20 DOM
11. 2026-06-03
    days on market $225,000 Active 16 DOM
12. 2026-06-02
    days on market $225,000 Active 15 DOM
13. 2026-06-01
    days on market $225,000 Active 14 DOM
14. 2026-05-31
    days on market $225,000 Active 13 DOM
15. 2026-05-30
    days on market $225,000 Active 12 DOM
16. 2026-05-18
    listed $225,000 Active
17. 2026-05-08
    price $225,000 1200-char remark

    Show marketing remark (1265 chars)

    Move-in ready and packed with over $100,000 in upgrades, this beautifully updated home on 1.25 acres offers the perfect blend of modern comfort and peaceful living in Hernando. GREAT FOR INCOME/INVESTMENT PROPERTY!!! Featuring a large workshop, fully fenced property, and cleared land, this home is ideal for those seeking space and functionality. MINUTES FROM LOCAL SHOPS, COFFEE & RESTAURANTS. Major improvements include 2022 updates such as a NEW ROOF all new FLOORING, LIGHT FIXTURES interior PAINT. In 2023 upgrades include an UPGRADED Frigidaire and Samsung stainless steel APPLIANCES and range hood. In 2024, the exterior was freshly painted, NEW GUTTERS were installed, and a MILLINGS DRIVEWAY was added. Recent enhancements include a NEW SPLIT UNIT and upgraded 220-AMP RV/Tesla hookup, along with a SMART THERMOSTAT, NEW BLINDS on all WINDOWS, electrical plate updates, and screened lanai improvements (2026). Enjoy added features like a new entry gate and modern lighting throughout. Located in a FEMA X zone and ideally situated near the Withlacoochee State Trail, as well as Crystal River and the World Equestrian Center, this property offers a quiet lifestyle with convenient access to outdoor recreation and everything Citrus County has to see.

18. 2026-05-08
    price $225,000 1265-char remark

    Show marketing remark (1265 chars)

    Move-in ready and packed with over $100,000 in upgrades, this beautifully updated home on 1.25 acres offers the perfect blend of modern comfort and peaceful living in Hernando. GREAT FOR INCOME/INVESTMENT PROPERTY!!! Featuring a large workshop, fully fenced property, and cleared land, this home is ideal for those seeking space and functionality. MINUTES FROM LOCAL SHOPS, COFFEE & RESTAURANTS. Major improvements include 2022 updates such as a NEW ROOF all new FLOORING, LIGHT FIXTURES interior PAINT. In 2023 upgrades include an UPGRADED Frigidaire and Samsung stainless steel APPLIANCES and range hood. In 2024, the exterior was freshly painted, NEW GUTTERS were installed, and a MILLINGS DRIVEWAY was added. Recent enhancements include a NEW SPLIT UNIT and upgraded 220-AMP RV/Tesla hookup, along with a SMART THERMOSTAT, NEW BLINDS on all WINDOWS, electrical plate updates, and screened lanai improvements (2026). Enjoy added features like a new entry gate and modern lighting throughout. Located in a FEMA X zone and ideally situated near the Withlacoochee State Trail, as well as Crystal River and the World Equestrian Center, this property offers a quiet lifestyle with convenient access to outdoor recreation and everything Citrus County has to see.

19. 2026-04-28
    listed $229,000 Active 1265-char remark

    Show marketing remark (1265 chars)

    Move-in ready and packed with over $100,000 in upgrades, this beautifully updated home on 1.25 acres offers the perfect blend of modern comfort and peaceful living in Hernando. GREAT FOR INCOME/INVESTMENT PROPERTY!!! Featuring a large workshop, fully fenced property, and cleared land, this home is ideal for those seeking space and functionality. MINUTES FROM LOCAL SHOPS, COFFEE & RESTAURANTS. Major improvements include 2022 updates such as a NEW ROOF all new FLOORING, LIGHT FIXTURES interior PAINT. In 2023 upgrades include an UPGRADED Frigidaire and Samsung stainless steel APPLIANCES and range hood. In 2024, the exterior was freshly painted, NEW GUTTERS were installed, and a MILLINGS DRIVEWAY was added. Recent enhancements include a NEW SPLIT UNIT and upgraded 220-AMP RV/Tesla hookup, along with a SMART THERMOSTAT, NEW BLINDS on all WINDOWS, electrical plate updates, and screened lanai improvements (2026). Enjoy added features like a new entry gate and modern lighting throughout. Located in a FEMA X zone and ideally situated near the Withlacoochee State Trail, as well as Crystal River and the World Equestrian Center, this property offers a quiet lifestyle with convenient access to outdoor recreation and everything Citrus County has to see.

20. 2026-04-14
    listed $229,000 Active 1200-char remark

    Show marketing remark (1200 chars)

    Move-in ready and packed with over $100,000 in upgrades, this beautifully updated home on 1.25 acres offers the perfect blend of modern comfort and peaceful living in Hernando. Featuring a large workshop, fully fenced property, and cleared land, this home is ideal for those seeking space and functionality. MINUTES FROM LOCAL SHOPS, COFFEE & RESTAURANTS. Major improvements include 2022 updates such as a NEW ROOF all new FLOORING, LIGHT FIXTURES interior PAINT. In 2023 upgrades include an UPGRADED Frigidaire and Samsung stainless steel APPLIANCES and range hood. In 2024, the exterior was freshly painted, NEW GUTTERS were installed, and a MILLINGS DRIVEWAY was added. Recent enhancements include a NEW SPLIT UNIT and upgraded 220-AMP RV/Tesla hookup, along with a SMART THERMOSTAT, electrical plate updates, and screened lanai improvements (2026). Enjoy added features like a new entry gate and modern lighting throughout. Located in a FEMA X zone and ideally situated near the Withlacoochee State Trail, as well as Crystal River and the World Equestrian Center, this property offers a quiet lifestyle with convenient access to outdoor recreation and everything Citrus County has to offer.

21. 2021-11-01
    soldstatus $75,000
22. 2021-10-27
    soldstatus $75,000 Closed
23. 2021-09-28
    status Pending
24. 2021-09-24
    status Active
25. 2021-09-18
    status Pending
26. 2021-08-28
    price $99,900
27. 2021-08-10
    price $120,000
28. 2021-07-27
    price $135,000
29. 2021-07-10
    listed $150,000 Active
30. 2011-06-02
    soldstatus $94,600
31. 2004-11-30
    soldstatus $49,900

ⓘ 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: $1,972 · $164/mo
• Projected year-2 tax: $1,972 · $164/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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $25,433
• − Mortgage interest: −$12,603
• − Property taxes: −$1,972
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,035
• − Management: −$2,035
• − Depreciation: −$6,545
• Taxable loss: −$882
• Est. tax savings @ 24.0%: +$212
• After-tax cash flow: $3,048/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 — Hernando

• Score: 71/100
• State rank: #402
• US rank: #7137

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hernando, FL
• County: Citrus County · 111,314 people
• City population: 17,281
• Metro: Homosassa Springs, FL
• Population (ZIP): 17,281
• Household income: $57,259
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 314.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Asian 2% Black 2%
• Common ancestry: Romanian 4% Slovak 4% Lithuanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 93% English-only · Spanish 3% German/W. Germanic 2% Tagalog/Filipino 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: ▼ -76.70%
• Current HPI: 273.3262
• 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

+350.9% since first listed

16 events — show timeline

• 2026-05-18 Listed $225,000 MARMLS
• 2026-05-08 Price Changed $225,000 RACC
• 2026-05-08 Price Changed $225,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-28 Listed $229,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-14 Listed $229,000 RACC
• 2021-11-01 Sold (Public Records) $75,000 Public Records
• 2021-10-27 Sold (MLS) $75,000 Stellar MLS as Distributed by MLS Grid
• 2021-09-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-09-24 Relisted — Stellar MLS as Distributed by MLS Grid
• 2021-09-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-08-28 Price Changed $99,900 Stellar MLS as Distributed by MLS Grid
• 2021-08-10 Price Changed $120,000 Stellar MLS as Distributed by MLS Grid
• 2021-07-27 Price Changed $135,000 Stellar MLS as Distributed by MLS Grid
• 2021-07-10 Listed $150,000 Stellar MLS as Distributed by MLS Grid
• 2011-06-02 Sold (Public Records) $94,600 Public Records
• 2004-11-30 Sold (Public Records) $49,900 Public Records

Property tax history

+27.4%/yr

Latest (2025): $1,972 · +6.6% YoY. Source: county tax records.