6844 S Irma Pt · Sugarmill Woods, FL 34461

$274,900

3 bd · 2.0 ba · 2,052 sqft · Manufactured public records · 18 Days on market

Built 1997 1.04 ac lot

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Why this score? — see what drove the D 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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1.06 acres on a paved rd. Beautiful location. 19 to Cardinal St, R onto Irma (approx 5 miles) to sign on the R.

Key facts

• Remodeled kitchen
• Exceptional privacy
• 1.04 acre lot

Tags

• DETACHED GARAGE WORKSHOP
• REMODELED KITCHEN
• MULTIPLE OUTDOOR LIVING SPACES
• WOOD BURNING FIREPLACE
• EXCEPTIONAL PRIVACY

Property features AI

Finance

• Other: Lot approximately 1.04 acres (145 x 316), mostly oak trees and wooded; Paved road access; Easy access via Suncoast Parkway extension; directions available
• HOA & community: No association; Pets allowed

Exterior

• Parking: 2-car garage
• Utilities: Well water; Septic tank; Electricity connected
• Home design: Manufactured double-wide home; Single-story (one level); East-facing
• Construction: Vinyl siding; Shingle roof; Crawlspace foundation
• Exterior features: Covered front, rear and side porches; Other exterior features

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full baths; 1 half bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floorplan; Stone countertops; Living room fireplace
• Laundry & utility: Inside laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $275k.

Deal economics

• At list price, monthly cash flow is $41 ($494/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (23.2% below list).
• Recommended offer: $211k (23.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.0% in Sugarmill Woods — 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 59/100 on livability (#825 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety 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 Middle School (math 49% / reading 49%, grade C-, #265 of 571 statewide, top 48%, 809 students, 55% 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: 199 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% 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 $2k of loan paydown is wiped out by about $8k 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 18 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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 $110k; list at $275k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major 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 $211,054 (23.2% 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 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.77% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 10.9

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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-42,062
• Equity at exit: $40,988

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-33,808
• Equity at exit: $23,768

Cash invested: $76,972 (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: 199
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,111 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $41

Break-even live

Break-even rent $2,058

Max offer price $274,900

Occupancy floor 93%

Sensitivity live

Price	-10% $197	-5% $119	+0% $41	+5% $-37	+10% $-114
Rent	-10% $-126	-5% $-42	+0% $41	+5% $124	+10% $208
Rate	-1.0pp $180	-0.5pp $111	base $41	+0.5pp $-30	+1.0pp $-103

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-07
   statusdays on market $274,900 Pending 18 DOM
2. 2026-06-03
   days on market $274,900 Active 16 DOM
3. 2026-06-03
   price $274,900 Active 15 DOM
4. 2026-06-02
   days on market $279,900 Active 15 DOM
5. 2026-06-01
   days on market $279,900 Active 14 DOM
6. 2026-05-31
   days on market $279,900 Active 13 DOM
7. 2026-05-30
   days on market $279,900 Active 12 DOM
8. 2026-05-18
   listed $279,900 Active
9. 2025-05-29
   soldstatus $110,000
10. 2025-04-23
    historical
11. 2025-04-15
    price $150,000
12. 2025-03-28
    price $164,000
13. 2025-03-19
    price $169,000
14. 2025-02-27
    price $174,000
15. 2025-02-21
    listed $179,000 Active
16. 2002-10-19
    soldstatus $9,500 111-char remark

    Show marketing remark (111 chars)

    1.06 acres on a paved rd. Beautiful location. 19 to Cardinal St, R onto Irma (approx 5 miles) to sign on the R.

17. 2001-05-16
    listed $9,500 111-char remark

    Show marketing remark (111 chars)

    1.06 acres on a paved rd. Beautiful location. 19 to Cardinal St, R onto Irma (approx 5 miles) to sign on the R.

ⓘ 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: $841 · $70/mo
• Projected year-2 tax: $2,282 · $190/mo
• Expected delta: +$1,441/yr (+$120/mo · 171.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% 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: $25,326
• − Mortgage interest: −$15,399
• − Property taxes: −$841
• − Insurance: −$1,374
• − Repairs & maintenance: −$2,026
• − Management: −$2,026
• − Depreciation: −$7,997
• Taxable loss: −$4,337
• Est. tax savings @ 24.0%: +$1,041
• After-tax cash flow: $1,534/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 — Sugarmill Woods

• Score: 59/100
• State rank: #825
• US rank: #20184

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sugarmill Woods, FL
• County: Citrus County · 111,314 people
• City population: 18,797
• 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

+2846.3% since first listed

10 events — show timeline

• 2026-05-18 Listed $279,900 Stellar MLS as Distributed by MLS Grid
• 2025-05-29 Sold (Public Records) $110,000 Public Records
• 2025-04-23 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-15 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-28 Price Changed $164,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-19 Price Changed $169,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-27 Price Changed $174,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-21 Listed $179,000 Stellar MLS as Distributed by MLS Grid
• 2002-10-19 Sold (MLS) $9,500 RACC
• 2001-05-16 Listed $9,500 RACC

Property tax history

+2.5%/yr

Latest (2025): $841 · +9.7% YoY. Source: county tax records.