2001 S Overview Dr · Lecanto, FL 34461

$179,900

3 bd · 2.0 ba · 1,352 sqft · Manufactured public records · 21 Days on market

Built 1985 0.28 ac lot

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +4.1/10.0
• 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

Beautifully updated and move-in ready, this 3 bedroom, 2 bath home features a light and airy open floor plan with vaulted ceilings and abundant natural light. The interior has been completely upgraded with a brand new HVAC system, new wood cabinetry, sleek quartz countertops, and stainless steel appliances. Durable luxury vinyl plank flooring runs throughout the entire home—no carpet anywhere—offering both style and easy maintenance. The spacious layout flows effortlessly, making it ideal for both everyday living and entertaining. Situated on a shaded ¼-acre lot, the property offers a fenced backyard and exceptional privacy with a no-build area behind the home. Enjoy the peaceful setting from the large screened porch—perfect for relaxing and taking in the Florida weather year-round. Located on a paved road and just minutes from shopping, dining, and everyday conveniences, this home combines privacy, comfort, and convenience in one great package.

Key facts

• Open floor plan
• Quartz countertops
• Wood cabinetry

Tags

• OPEN FLOOR PLAN
• NEW HVAC SYSTEM
• WOOD CABINETRY
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LUXURY VINYL PLANK FLOORING

Property features AI

Finance

• Other: Lot approximately 0.28 acres (80 x 150); Living area about 1,352; Total building area about 1,832; Lot acreage recorded as 1/4 to less than 1/2
• Financial info: No lease restrictions; Homesteaded
• HOA & community: No association

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Septic tank sewer; Electricity connected
• Home design: Manufactured double-wide home; Single-story; Faces north
• Construction: Metal roof; Roof over; Built with other construction materials; Crawlspace foundation with pillar/post/pier
• Exterior features: Other exterior features; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Range
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Open floorplan; Wood-burning fireplace
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 5.2% in Lecanto — 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 (#680 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B; Watch: health & safety C-, schools D, 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: 197 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 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 $5k 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 $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $45k; list at $180k implies a 300% 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 $177,201 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.10% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 7.6

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,487
• Equity at exit: $26,824

10-year hold

• IRR: 10.4%
• Equity multiple: 1.80×
• Total profit: $40,547
• Equity at exit: $15,554

Cash invested: $50,372 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,975 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$60 /mo · $715/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $482

Break-even live

Break-even rent $1,365

Max offer price $179,900

Occupancy floor 71%

Sensitivity live

Price	-10% $584	-5% $533	+0% $482	+5% $431	+10% $380
Rent	-10% $326	-5% $404	+0% $482	+5% $560	+10% $638
Rate	-1.0pp $573	-0.5pp $528	base $482	+0.5pp $436	+1.0pp $388

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5353 W Customer Ct Lecanto, FL	2.0	1.5	912	$1,350	$1.48	21d	1	0.32mi

Listing history 4 events

1. 2026-05-08
   listed $179,900 Active

   Show marketing remark (984 chars)

   Beautifully updated and move-in ready, this 3 bedroom, 2 bath home features a light and airy open floor plan with vaulted ceilings and abundant natural light. The interior has been completely upgraded with a brand new HVAC system, new wood cabinetry, sleek quartz countertops, and stainless steel appliances. Durable luxury vinyl plank flooring runs throughout the entire home—no carpet anywhere—offering both style and easy maintenance. The spacious layout flows effortlessly, making it ideal for both everyday living and entertaining. Situated on a shaded ¼-acre lot, the property offers a fenced backyard and exceptional privacy with a no-build area behind the home. Enjoy the peaceful setting from the large screened porch—perfect for relaxing and taking in the Florida weather year-round. Located on a paved road and just minutes from shopping, dining, and everyday conveniences, this home combines privacy, comfort, and convenience in one great package.

2. 2026-05-08
   listed $179,900 Active 984-char remark

   Show marketing remark (984 chars)

   Beautifully updated and move-in ready, this 3 bedroom, 2 bath home features a light and airy open floor plan with vaulted ceilings and abundant natural light. The interior has been completely upgraded with a brand new HVAC system, new wood cabinetry, sleek quartz countertops, and stainless steel appliances. Durable luxury vinyl plank flooring runs throughout the entire home—no carpet anywhere—offering both style and easy maintenance. The spacious layout flows effortlessly, making it ideal for both everyday living and entertaining. Situated on a shaded ¼-acre lot, the property offers a fenced backyard and exceptional privacy with a no-build area behind the home. Enjoy the peaceful setting from the large screened porch—perfect for relaxing and taking in the Florida weather year-round. Located on a paved road and just minutes from shopping, dining, and everyday conveniences, this home combines privacy, comfort, and convenience in one great package.

3. 2026-04-09
   soldstatus $45,000
4. 1985-11-01
   soldstatus $25,000

ⓘ 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: $715 · $60/mo
• Projected year-2 tax: $1,493 · $124/mo
• Expected delta: +$778/yr (+$65/mo · 108.7%)

ⓘ 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 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 25 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: $23,699
• − Mortgage interest: −$10,077
• − Property taxes: −$715
• − Insurance: −$900
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − Depreciation: −$5,233
• Taxable income: $2,981
• Est. tax owed @ 24.0%: −$716
• After-tax cash flow: $5,071/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 — Lecanto

• Score: 64/100
• State rank: #680
• US rank: #14112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lecanto, FL
• County: Citrus County · 111,314 people
• City population: 13,377
• 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

+619.6% since first listed

4 events — show timeline

• 2026-05-08 Listed $179,900 RACC
• 2026-05-08 Listed $179,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-09 Sold (Public Records) $45,000 Public Records
• 1985-11-01 Sold (Public Records) $25,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $715 · +12.2% YoY. Source: county tax records.