1685 N Arkansas Ter · Hernando, FL 34442

$104,900

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 21 Days on market

Built 1986 6,252 sqft lot Est $143k · 27% under

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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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• 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

This 1986 manufactured home has solid bones and plenty of potential. Yes, it could use some updating, but the structure is rock-solid and has been well cared for over the years. Come take a look and imagine the possibilities for your future in this affordable, dependable home.

Key facts

• 6,252 sq ft lot
• Parking
• Built 1986

Property features AI

Exterior

• Parking: Attached carport; Driveway; Concrete parking; 1 parking space
• Utilities: Private well water; Septic tank
• Home design: Manufactured home (single wide); Residential property
• Construction: Metal roof
• Exterior features: Rectangular lot; County road frontage; No pool

Interior

• Kitchen: Electric oven; Refrigerator
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Electric oven; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $105k.

Deal economics

• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% 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.
• Zoned schools: Hernando Elementary School (math 47% / reading 51%, grade D, #1,134 of 2,144 statewide, top 54%, 813 students, 71% FRL); Citrus Springs Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 821 students, 59% FRL); Citrus High School (math 34% / reading 51%, grade F, #264 of 667 statewide, top 41%, 1,503 students, 54% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 444 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% 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 $725 of loan paydown is wiped out by about $3k 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 $29k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $45k; list at $105k implies a 133% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,326 (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. 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.
3. 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.
4. 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: 1.46% ✓
• Cap rate: 12.37%
• Cash-on-cash: 21.70%
• DSCR: 1.97
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $143,220
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4294 E Van Ness Rd	0.09mi	2/2.0	864 (-6%)	2mo	$165,000	$191	83
4232 E Alabama Ln	0.16mi	3/1.0 (+1)	912 (-1%)	3mo	$84,700	$93	79
1420 N Sylvan Pt	0.65mi	2/2.0	840 (-9%)	7mo	$95,000	$113	48
3960 E David St	0.60mi	2/1.0	844 (-9%)	19mo	$132,000	$156	38
4380 E Louisiana Ln	0.47mi	2/2.0	1,056 (+14%)	20mo	$164,000	$155	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: 14.3%
• Equity multiple: 1.57×
• Total profit: $16,824
• Equity at exit: $15,641

10-year hold

• IRR: 23.1%
• Equity multiple: 2.98×
• Total profit: $58,194
• Equity at exit: $9,070

Cash invested: $29,372 (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 34442

• Home prices YoY: -21.9%
• Active inventory: 444
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,536 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$89 /mo · $1,065/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $531

Break-even live

Break-even rent $864

Max offer price $104,900

Occupancy floor 60%

Sensitivity live

Price	-10% $590	-5% $561	+0% $531	+5% $501	+10% $472
Rent	-10% $410	-5% $470	+0% $531	+5% $592	+10% $652
Rate	-1.0pp $584	-0.5pp $558	base $531	+0.5pp $504	+1.0pp $476

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-13
   statusdays on market $104,900 Pending 21 DOM
2. 2026-06-09
   days on market $104,900 Active 18 DOM
3. 2026-06-08
   days on market $104,900 Active 17 DOM
4. 2026-06-07
   days on market $104,900 Active 16 DOM
5. 2026-06-03
   days on market $104,900 Active 12 DOM
6. 2026-06-02
   days on market $104,900 Active 11 DOM
7. 2026-06-01
   days on market $104,900 Active 10 DOM
8. 2026-05-31
   days on market $104,900 Active 9 DOM
9. 2026-05-30
   days on market $104,900 Active 8 DOM
10. 2026-05-21
    listed $104,900 Active
11. 2026-04-22
    historical
12. 2026-04-10
    price $109,500
13. 2026-04-10
    price $109,500
14. 2026-01-23
    listed $114,500 Active
15. 2016-07-05
    soldstatus $45,000
16. 2016-06-24
    soldstatus $45,000
17. 2016-05-20
    listed $45,000

ⓘ 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: $1,065 · $89/mo
• Projected year-2 tax: $1,065 · $89/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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 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: $18,435
• − Mortgage interest: −$5,876
• − Property taxes: −$1,065
• − Insurance: −$524
• − Repairs & maintenance: −$1,475
• − Management: −$1,475
• − Depreciation: −$3,052
• Taxable income: $4,968
• Est. tax owed @ 24.0%: −$1,192
• After-tax cash flow: $5,181/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

• 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

+133.1% since first listed

8 events — show timeline

• 2026-05-21 Listed $104,900 RACC
• 2026-04-22 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $109,500 RACC
• 2026-04-10 Price Changed $109,500 Stellar MLS as Distributed by MLS Grid
• 2026-01-23 Listed $114,500 Stellar MLS as Distributed by MLS Grid
• 2016-07-05 Sold (Public Records) $45,000 Public Records
• 2016-06-24 Sold (MLS) $45,000 RACC
• 2016-05-20 Listed $45,000 RACC

Property tax history

+9.9%/yr

Latest (2025): $1,065 · +14.5% YoY. Source: county tax records.