4255 E Nugget Pass Pl · Hernando, FL 34434

$59,000

1 bd · 1.0 ba · 816 sqft · Manufactured public records · 150 Days on market

Built 1972 8,797 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0

Listing remarks MLS

Opportunity awaits with this fenced mobile home situated on a spacious lot in a desirable location between Ocala and Hernando. The home offers several upgrades already started, giving buyers the chance to add their finishing touches and create a space tailored to their vision. Enjoy the benefits of ample storage and parking with a detached 1-car garage, an attached 1-car garage, and an additional shed—great for tools, hobbies, or outdoor equipment. The fully fenced yard provides privacy and room for pets, gardening, or outdoor enjoyment. Nature lovers will appreciate the proximity to the Withlacoochee River, located less than two miles away, offering nearby access to boating, fishing, and outdoor recreation. Conveniently positioned with easy access to nearby towns while still providing a peaceful, rural feel. This property is great for buyers seeking space, functionality, and the opportunity to add value in a prime Central Florida location.

Key facts

• Spacious lot
• Fully fenced yard
• Additional shed

Tags

• SPACIOUS LOT
• DETACHED 2-CAR GARAGE
• ATTACHED 1-CAR GARAGE
• ADDITIONAL SHED
• FULLY FENCED YARD
• NEARBY ACCESS TO BOATING

Property features AI

Finance

• Other: Total acreage: less than 1/4 acre (approximately 0.2 acre); Paved road access
• Financial info: No lease restrictions indicated
• HOA & community: No HOA; Located in a senior community

Exterior

• Parking: Has garage (1 garage space)
• Utilities: Well water; Septic tank; Electricity available
• Home design: Residential mobile home (single wide); One story; Faces west; Entry on one level
• Construction: Vinyl siding; Metal roof; Pillar/post/pier foundation; Built as single wide
• Exterior features: Storage; Shed(s); Workshop

Interior

• Kitchen: No appliances listed
• Bedrooms: 1 bedroom
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Walk-in closet(s)
• Laundry & utility: No laundry facilities

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $59k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.6% 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.
• Zoned schools: Central Ridge Elementary School (math 41% / reading 44%, grade F, #1,383 of 2,144 statewide, top 65%, 723 students, 64% FRL); Citrus High School (math 34% / reading 51%, grade F, #264 of 667 statewide, top 41%, 1,503 students, 54% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: 1242 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($52k) 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 $5k; list at $59k implies a 1080% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.25% ✓
• Cap rate: 19.64%
• Cash-on-cash: 47.68%
• DSCR: 3.12
• GRM: 3.7

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: 8.2%
• Equity multiple: 1.32×
• Total profit: $5,352
• Equity at exit: $8,797

10-year hold

• IRR: 17.8%
• Equity multiple: 2.49×
• Total profit: $24,622
• Equity at exit: $5,101

Cash invested: $16,520 (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 34434

• Home prices YoY: -2.9%
• Active inventory: 1242
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,330 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$60 /mo · $721/yr
• Insurance: −$25
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $230

Break-even live

Break-even rent $1,039

Max offer price $59,000

Occupancy floor 78%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-20
   status Pending 961-char remark

   Show marketing remark (961 chars)

   Opportunity awaits with this fenced mobile home situated on a spacious lot in a desirable location between Ocala and Hernando. The home offers several upgrades already started, giving buyers the chance to add their finishing touches and create a space tailored to their vision. Enjoy the benefits of ample storage and parking with a detached 1-car garage, an attached 1-car garage, and an additional shed—great for tools, hobbies, or outdoor equipment. The fully fenced yard provides privacy and room for pets, gardening, or outdoor enjoyment. Nature lovers will appreciate the proximity to the Withlacoochee River, located less than two miles away, offering nearby access to boating, fishing, and outdoor recreation. Conveniently positioned with easy access to nearby towns while still providing a peaceful, rural feel. This property is great for buyers seeking space, functionality, and the opportunity to add value in a prime Central Florida location.

2. 2025-12-29
   listed $59,000 Active 961-char remark

   Show marketing remark (961 chars)

   Opportunity awaits with this fenced mobile home situated on a spacious lot in a desirable location between Ocala and Hernando. The home offers several upgrades already started, giving buyers the chance to add their finishing touches and create a space tailored to their vision. Enjoy the benefits of ample storage and parking with a detached 1-car garage, an attached 1-car garage, and an additional shed—great for tools, hobbies, or outdoor equipment. The fully fenced yard provides privacy and room for pets, gardening, or outdoor enjoyment. Nature lovers will appreciate the proximity to the Withlacoochee River, located less than two miles away, offering nearby access to boating, fishing, and outdoor recreation. Conveniently positioned with easy access to nearby towns while still providing a peaceful, rural feel. This property is great for buyers seeking space, functionality, and the opportunity to add value in a prime Central Florida location.

3. 2025-12-29
   listed $59,000 Active

   Show marketing remark (961 chars)

   Opportunity awaits with this fenced mobile home situated on a spacious lot in a desirable location between Ocala and Hernando. The home offers several upgrades already started, giving buyers the chance to add their finishing touches and create a space tailored to their vision. Enjoy the benefits of ample storage and parking with a detached 1-car garage, an attached 1-car garage, and an additional shed—great for tools, hobbies, or outdoor equipment. The fully fenced yard provides privacy and room for pets, gardening, or outdoor enjoyment. Nature lovers will appreciate the proximity to the Withlacoochee River, located less than two miles away, offering nearby access to boating, fishing, and outdoor recreation. Conveniently positioned with easy access to nearby towns while still providing a peaceful, rural feel. This property is great for buyers seeking space, functionality, and the opportunity to add value in a prime Central Florida location.

4. 2024-02-28
   price $59,000
5. 2024-01-29
   price $64,500
6. 1990-03-01
   soldstatus $5,000
7. 1988-06-01
   soldstatus $8,700
8. 1984-03-01
   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: $721 · $60/mo
• Projected year-2 tax: $721 · $60/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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,956
• − Mortgage interest: −$3,305
• − Property taxes: −$721
• − Insurance: −$5,414
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$1,716
• Taxable income: $2,247
• Est. tax owed @ 24.0%: −$539
• After-tax cash flow: $2,219/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): 11,074
• Household income: $68,939
• Rent vs Own: 12.4% rent · 87.6% own
• Severe rent burden: 171.0

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 (78%)
• Race & ethnicity: White 78% Two or more races 11% Hispanic / Latino 9% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Iranian 3% Romanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1% Other Indo-European 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: ▼ -9.70%
• Current HPI: 328.2164
• 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

+719.4% since first listed

8 events — show timeline

• 2026-05-20 Pending — RACC
• 2025-12-29 Listed $59,000 RACC
• 2025-12-29 Listed $59,000 Stellar MLS as Distributed by MLS Grid
• 2024-02-28 Price Changed $59,000 RACC
• 2024-01-29 Price Changed $64,500 RACC
• 1990-03-01 Sold (Public Records) $5,000 Public Records
• 1988-06-01 Sold (Public Records) $8,700 Public Records
• 1984-03-01 Sold (Public Records) $7,200 Public Records

Property tax history

+9.9%/yr

Latest (2025): $721 · +10.5% YoY. Source: county tax records.