7203 W Brady Ln · Homosassa Springs, FL 34446

$239,900

3 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 28 Days on market

Built 2021 0.31 ac lot Est $168k · 43% over

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Why this score? — see what drove the F 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 +13.2/30.0
• Schools +4.1/10.0
• DSCR +4.0/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Check out this WELL-MAINTAINED and MOVE-IN READY 2021 3/2 only a few minute drive from the Gulf and a 10-15 min drive to Crystal River! Prominent features include: spilt and open floor plan, stainless steel appliances, main bedroom ensuite with shower/tub combo, inside laundry, water softener and filtration systems, detached carport/toy port with slab, paved driveway, partial landscaping, and fenced yard with privacy fencing. No HOA fees or regulations! High-speed internet available. Call today to schedule a showing!

Key facts

• Open floor plan
• Main bedroom ensuite
• Paved driveway

Tags

• OPEN FLOOR PLAN
• STAINLESS STEEL APPLIANCES
• MAIN BEDROOM ENSUITE
• INSIDE LAUNDRY
• DETACHED CARPORT/TOY PORT
• PAVED DRIVEWAY

Property features AI

Exterior

• Parking: Detached carport; Driveway parking; Paved parking; Total of 1 parking space
• Security: Smoke detectors
• Utilities: Private well water
• Home design: Manufactured home (double wide); Single-story; Home faces south
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Chain link, privacy, and vinyl fencing; Outdoor pool; Cleared and landscaped lot; Rectangular lot; Paved road frontage on a county road

Interior

• Kitchen: Electric oven; Microwave; Dishwasher; Refrigerator; Water purifier (owned)
• Flooring: Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Open floor plan; Walk-in closets; Master suite on the main level; High-speed internet
• Laundry & utility: Washer; Dryer; Water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $240k.

Deal economics

• At list price, monthly cash flow is $-71 ($-847/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (18.9% below list).
• Recommended offer: $195k (18.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#391 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• 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.
• Zoned schools: Homosassa Elementary School (math 62% / reading 47%, grade C, #892 of 2,144 statewide, top 44%, 411 students, 78% FRL); Crystal River Middle School (math 49% / reading 47%, grade C-, #286 of 571 statewide, top 50%, 900 students, 64% FRL); Crystal River High School (math 31% / reading 44%, grade F, #336 of 667 statewide, top 51%, 1,249 students, 56% FRL).
• Market conditions: 582 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% 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 $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 28 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $180k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $194,599 (18.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $167,508
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6871 W Sasser St	0.35mi	3/2.0	1,152 (-3%)	2mo	$175,000	$152	77
7315 W Hadenotter Ln	0.19mi	3/2.0	1,295 (+9%)	9mo	$185,000	$143	68
5143 S Knobhill Ter	0.34mi	3/2.0	1,080 (-9%)	2mo	$82,000	$76	67
7510 W Otter St	0.37mi	3/2.0	1,152 (-3%)	13mo	$161,000	$140	67
5535 S Scarlett Oak Ter	0.24mi	2/2.0 (-1)	1,344 (+13%)	2mo	$170,000	$126	60
5372 S June Ter	0.61mi	3/2.0	1,216 (+2%)	13mo	$190,000	$156	57
5602 S Woodside Ter	0.33mi	2/2.0 (-1)	1,056 (-11%)	8mo	$135,000	$128	54
5573 S Will Pt	0.75mi	3/2.0	1,248 (+5%)	5mo	$115,000	$92	52
7150 W Parkway Ln	0.53mi	2/2.0 (-1)	1,088 (-8%)	12mo	$95,000	$87	46
4631 S Memorial Dr	0.70mi	3/2.0	1,296 (+9%)	12mo	$199,000	$154	42
4931 S Phial Pt	0.55mi	4/2.0 (+1)	1,344 (+13%)	8mo	$190,000	$141	41
7627 W Autumn St	0.72mi	3/2.0	1,344 (+13%)	8mo	$205,000	$153	38

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: -18.4%
• Equity multiple: 0.35×
• Total profit: $-43,371
• Equity at exit: $35,770

10-year hold

• IRR: -10.7%
• Equity multiple: 0.35×
• Total profit: $-43,562
• Equity at exit: $20,742

Cash invested: $67,172 (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 34446

• Home prices YoY: -10.4%
• Active inventory: 582
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,946 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$183 /mo · $2,201/yr
• Insurance: −$100
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $-71

Break-even live

Break-even rent $2,035

Max offer price $227,430

Occupancy floor 99%

Sensitivity live

Price	-10% $65	-5% $-3	+0% $-71	+5% $-138	+10% $-206
Rent	-10% $-224	-5% $-147	+0% $-71	+5% $6	+10% $83
Rate	-1.0pp $50	-0.5pp $-10	base $-71	+0.5pp $-133	+1.0pp $-196

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5323 S Knobhill Ter Homosassa, FL	3.0	2.0	925	$1,400	$1.51	22d	1	0.33mi
5900 S Oakridge Dr Homosassa, FL	2.0	2.0	1050	$1,575	$1.50	22d	1	1.02mi

Listing history 20 events

1. 2026-06-19
   days on market $239,900 Active 28 DOM
2. 2026-06-18
   days on market $239,900 Active 27 DOM
3. 2026-06-17
   days on market $239,900 Active 26 DOM
4. 2026-06-16
   days on market $239,900 Active 25 DOM
5. 2026-06-15
   days on market $239,900 Active 24 DOM
6. 2026-06-14
   days on market $239,900 Active 22 DOM
7. 2026-06-13
   days on market $239,900 Active 21 DOM
8. 2026-06-09
   days on market $239,900 Active 18 DOM
9. 2026-06-08
   days on market $239,900 Active 17 DOM
10. 2026-06-07
    days on market $239,900 Active 16 DOM
11. 2026-06-03
    days on market $239,900 Active 12 DOM
12. 2026-06-02
    days on market $239,900 Active 11 DOM
13. 2026-06-01
    days on market $239,900 Active 10 DOM
14. 2026-05-31
    days on market $239,900 Active 9 DOM
15. 2026-05-30
    days on market $239,900 Active 8 DOM
16. 2026-05-22
    listed $239,900 Active
17. 2023-03-16
    soldstatus $179,500
18. 1989-01-01
    soldstatus $18,000
19. 1984-04-01
    soldstatus $12,000
20. 1983-07-01
    soldstatus $7,200

ⓘ 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: $2,201 · $183/mo
• Projected year-2 tax: $2,201 · $183/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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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: $23,352
• − Mortgage interest: −$13,438
• − Property taxes: −$2,201
• − Insurance: −$1,997
• − Repairs & maintenance: −$1,868
• − Management: −$1,868
• − Depreciation: −$6,979
• Taxable loss: −$5,000
• Est. tax savings @ 24.0%: +$1,200
• After-tax cash flow: $353/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 — Homosassa Springs

• Score: 71/100
• State rank: #391
• US rank: #6877

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homosassa Springs, FL
• County: Citrus County · 111,314 people
• Metro: Homosassa Springs, FL
• Population (ZIP): 19,102
• Household income: $58,802
• Rent vs Own: 6.9% rent · 93.1% own
• Severe rent burden: 121.0

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% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -32.11%
• Current HPI: 277.2576
• 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

+3231.9% since first listed

5 events — show timeline

• 2026-05-22 Listed $239,900 RACC
• 2023-03-16 Sold (Public Records) $179,500 Public Records
• 1989-01-01 Sold (Public Records) $18,000 Public Records
• 1984-04-01 Sold (Public Records) $12,000 Public Records
• 1983-07-01 Sold (Public Records) $7,200 Public Records

Property tax history

+20.3%/yr

Latest (2025): $2,201 · +3.0% YoY. Source: county tax records.