5371 W Winter Sun Ln · Homosassa Springs, FL 34446

$134,990

3 bd · 2.0 ba · 1,900 sqft · Land · 176 Days on market

Built 1987 0.54 ac 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 +0.0/10.0

Listing remarks MLS

Nicely treed lot in quiet location back on the market at a price that will sell. Lot is located just off Grande Circle Terrace zoned for mobiles or single family homes. This lot is approx 1/2 an acre, and is just 4 lots off of a paved road. Either go down Grande Marche and turn L on Winter Sun which is the second left and street sign was missing, or stay on paved road, go to left on Richland (3rd street), go left on High Ridge, and left on Winter Sun. You will be on paved road the whole way, and only 4 lots of dirt road to this land.

Key facts

• Renovated home
• Fenced yard
• New hvac

Tags

• RENOVATED HOME
• NEW ROOF
• NEW HVAC
• WALK IN SHOWER
• UPDATED VINYL FLOORING
• FENCED YARD

Property features AI

Finance

• Other: Property type: Residential (Manufactured Home); Body type: Double Wide; Living area reported as 1,900 square feet; Lot size approximately 0.54 acres (about 2,205 sq m); One well and one septic on property; Zoning: RURMH; Permit number BLD2024327950; Unfurnished; Previously temporarily off-market
• HOA & community: No association

Exterior

• Parking: Dirt road access
• Utilities: Well water; Septic tank; Electricity connected; Water connected/available; Sewer connected/available
• Home design: Residential manufactured double-wide home; One-story; South-facing entry
• Construction: Vinyl siding; Shingle roof; Block foundation; Built by Liberty; Completed condition
• Exterior features: Deck; Chain link fence; Cleared lot; Trees and landscaped grounds

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $135k.

Deal economics

• At list price, monthly cash flow is $807 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 5.9% in Homosassa Springs — 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 (#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: Lecanto Primary School (math 55% / reading 53%, grade C, #936 of 2,144 statewide, top 44%, 820 students, 63% FRL); Lecanto High School (math 46% / reading 53%, grade D, #179 of 667 statewide, top 29%, 1,630 students, 46% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 582 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% 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 $934 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $65k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $135k implies a 1250% 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 $118,791 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 1.50% ✓
• Cap rate: 13.46%
• Cash-on-cash: 25.61%
• DSCR: 2.14
• GRM: 5.6

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: 19.2%
• Equity multiple: 1.78×
• Total profit: $29,439
• Equity at exit: $20,127

10-year hold

• IRR: 27.5%
• Equity multiple: 3.42×
• Total profit: $91,547
• Equity at exit: $11,671

Cash invested: $37,797 (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: 5.6×

Monthly cashflow live

• Estimated rent: $2,020 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$25 /mo · $298/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $807

Break-even live

Break-even rent $999

Max offer price $134,990

Occupancy floor 55%

Sensitivity live

Price	-10% $883	-5% $845	+0% $807	+5% $768	+10% $730
Rent	-10% $647	-5% $727	+0% $807	+5% $886	+10% $966
Rate	-1.0pp $875	-0.5pp $841	base $807	+0.5pp $772	+1.0pp $736

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: $33,748
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $134,990 Active 176 DOM
2. 2026-06-18
   days on market $134,990 Active 175 DOM
3. 2026-06-17
   days on market $134,990 Active 174 DOM
4. 2026-06-16
   days on market $134,990 Active 173 DOM
5. 2026-06-15
   days on market $134,990 Active 172 DOM
6. 2026-06-14
   days on market $134,990 Active 170 DOM
7. 2026-06-13
   days on market $134,990 Active 169 DOM
8. 2026-06-09
   days on market $134,990 Active 166 DOM
9. 2026-06-09
   remarks 674-char remark
10. 2026-06-08
    days on market $134,990 Active 165 DOM
11. 2026-06-03
    days on market $134,990 Active 160 DOM
12. 2026-06-02
    days on market $134,990 Active 159 DOM
13. 2026-06-01
    days on market $134,990 Active 158 DOM
14. 2026-05-31
    pricedays on market $134,990 Active 157 DOM
15. 2026-05-30
    days on market $154,990 Active 156 DOM
16. 2026-05-23
    price $154,990
17. 2026-04-13
    status Active
18. 2026-04-13
    price $164,990
19. 2026-02-18
    price $174,990
20. 2026-01-26
    price $184,990
21. 2025-12-18
    price $189,990
22. 2025-11-25
    listed $199,990 Active
23. 2007-06-29
    soldstatus $10,000
24. 2007-06-27
    soldstatus $10,000 539-char remark

    Show marketing remark (539 chars)

    Nicely treed lot in quiet location back on the market at a price that will sell. Lot is located just off Grande Circle Terrace zoned for mobiles or single family homes. This lot is approx 1/2 an acre, and is just 4 lots off of a paved road. Either go down Grande Marche and turn L on Winter Sun which is the second left and street sign was missing, or stay on paved road, go to left on Richland (3rd street), go left on High Ridge, and left on Winter Sun. You will be on paved road the whole way, and only 4 lots of dirt road to this land.

25. 2007-04-18
    listed $12,500 539-char remark

    Show marketing remark (539 chars)

    Nicely treed lot in quiet location back on the market at a price that will sell. Lot is located just off Grande Circle Terrace zoned for mobiles or single family homes. This lot is approx 1/2 an acre, and is just 4 lots off of a paved road. Either go down Grande Marche and turn L on Winter Sun which is the second left and street sign was missing, or stay on paved road, go to left on Richland (3rd street), go left on High Ridge, and left on Winter Sun. You will be on paved road the whole way, and only 4 lots of dirt road to this land.

ⓘ 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: $298 · $25/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$822/yr (+$69/mo · 275.8%)

ⓘ 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 · 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: $24,236
• − Mortgage interest: −$7,562
• − Property taxes: −$298
• − Insurance: −$675
• − Repairs & maintenance: −$1,939
• − Management: −$1,939
• − Depreciation: −$3,927
• Taxable income: $7,897
• Est. tax owed @ 24.0%: −$1,895
• After-tax cash flow: $7,784/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

+1139.9% since first listed

10 events — show timeline

• 2026-05-23 Price Changed $154,990 Stellar MLS as Distributed by MLS Grid
• 2026-04-13 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $164,990 Stellar MLS as Distributed by MLS Grid
• 2026-02-18 Price Changed $174,990 Stellar MLS as Distributed by MLS Grid
• 2026-01-26 Price Changed $184,990 Stellar MLS as Distributed by MLS Grid
• 2025-12-18 Price Changed $189,990 Stellar MLS as Distributed by MLS Grid
• 2025-11-25 Listed $199,990 Stellar MLS as Distributed by MLS Grid
• 2007-06-29 Sold (Public Records) $10,000 Public Records
• 2007-06-27 Sold (MLS) $10,000 RACC
• 2007-04-18 Listed $12,500 RACC

Property tax history

+8.1%/yr

Latest (2025): $298 · +44.9% YoY. Source: county tax records.