89 S Scarboro Ave · Lecanto, FL 34461

$125,000

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 54 Days on market

Built 1977 1.00 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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Range & Refrigerator now installed w/ new floors and cabinets in kitchen . New Electric Service & panels in garage & on pole. Well & water heater are working now . Older 12 x 56 single wide m/h with 10 x 20 front porch, and 11'5 x 27 Back enclosed porch with glass windows and a 12 x 23 carport! Looks like a metal roof, but no knowledge of condition. New bathroom with small shower, toilet & sink. New carpet in bedrooms & living room. Detached garage/shop building (18.5 x 22.8) Block walls on slab with electric & water . Toilet, shower and laundry sink, plus water heater & well pump. Washer & dryer hooks up. Recently replace new roof on garage! Endless possibilities for Work shop, guest quarters or anything imagined? Unfinished, but make it your own? Located on an acre lot, high and dry with no deed restrictions! Don't let this one get away. Lots of possibilities. Seller is making home livable and not increasing the price! Check it out? Mobile was reconfigured into 1 BR and 1 bath & larger lliving room.

Key facts

• New floors
• New electric service
• Working water heater

Tags

• NEW FLOORS
• NEW CABINETS
• NEW ELECTRIC SERVICE
• WORKING WATER HEATER
• FRONT PORCH
• BACK ENCLOSED PORCH

Property features AI

Finance

• Other: Lot is approximately 1 acre (level, in county); lot dimensions about 137 x 329; asphalt road access
• Financial info: No lease restrictions
• HOA & community: No association

Exterior

• Parking: 2-car garage; Carport (1 space)
• Utilities: Well water; Septic tank; Electricity connected
• Home design: Manufactured home (single wide); One story; Faces north; Residential property
• Construction: Metal frame with vinyl siding; Metal roof; Crawlspace foundation; Built on one level
• Exterior features: Awnings

Interior

• Kitchen: Range, Range hood, Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Range, Range hood, Refrigerator; Carpet and vinyl flooring
• Laundry & utility: Laundry area in garage

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 5.2% in Lecanto — 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 64/100 on livability (#680 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B; Watch: health & safety C-, employment D, amenities 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: 197 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 $864 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 $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 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 $28k; list at $125k implies a 348% 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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: 1.23% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.32%
• DSCR: 1.64
• GRM: 6.8

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: 4.7%
• Equity multiple: 1.18×
• Total profit: $6,319
• Equity at exit: $18,638

10-year hold

• IRR: 14.1%
• Equity multiple: 2.13×
• Total profit: $39,667
• Equity at exit: $10,808

Cash invested: $35,000 (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: 197
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,535 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$87 /mo · $1,046/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $418

Break-even live

Break-even rent $1,006

Max offer price $125,000

Occupancy floor 68%

Sensitivity live

Price	-10% $488	-5% $453	+0% $418	+5% $382	+10% $347
Rent	-10% $296	-5% $357	+0% $418	+5% $478	+10% $539
Rate	-1.0pp $480	-0.5pp $449	base $418	+0.5pp $385	+1.0pp $352

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-23
   status Pending 1082-char remark

   Show marketing remark (1082 chars)

   Range & Refrigerator now installed w/ new floors and cabinets in kitchen . New Electric Service & panels in garage & on pole. Well & water heater are working now . Older 12 x 56 single wide m/h with 10 x 20 front porch, and 11'5 x 27 Back enclosed porch with glass windows and a 12 x 23 carport! Looks like a metal roof, but no knowledge of condition. New bathroom with small shower, toilet & sink. New carpet in bedrooms & living room. Detached garage/shop building (18.5 x 22.8) Block walls on slab with electric & water . Toilet, shower and laundry sink, plus water heater & well pump. Washer & dryer hooks up. Recently replace new roof on garage! Endless possibilities for Work shop, guest quarters or anything imagined? Unfinished, but make it your own? Located on an acre lot, high and dry with no deed restrictions! Don't let this one get away. Lots of possibilities. Seller is making home livable and not increasing the price! Check it out? Mobile was reconfigured into 1 BR and 1 bath & larger lliving room.

2. 2026-05-23
   status Pending

   Show marketing remark (1082 chars)

   Range & Refrigerator now installed w/ new floors and cabinets in kitchen . New Electric Service & panels in garage & on pole. Well & water heater are working now . Older 12 x 56 single wide m/h with 10 x 20 front porch, and 11'5 x 27 Back enclosed porch with glass windows and a 12 x 23 carport! Looks like a metal roof, but no knowledge of condition. New bathroom with small shower, toilet & sink. New carpet in bedrooms & living room. Detached garage/shop building (18.5 x 22.8) Block walls on slab with electric & water . Toilet, shower and laundry sink, plus water heater & well pump. Washer & dryer hooks up. Recently replace new roof on garage! Endless possibilities for Work shop, guest quarters or anything imagined? Unfinished, but make it your own? Located on an acre lot, high and dry with no deed restrictions! Don't let this one get away. Lots of possibilities. Seller is making home livable and not increasing the price! Check it out? Mobile was reconfigured into 1 BR and 1 bath & larger lliving room.

3. 2026-03-30
   price $125,000 1082-char remark

   Show marketing remark (1082 chars)

   Range & Refrigerator now installed w/ new floors and cabinets in kitchen . New Electric Service & panels in garage & on pole. Well & water heater are working now . Older 12 x 56 single wide m/h with 10 x 20 front porch, and 11'5 x 27 Back enclosed porch with glass windows and a 12 x 23 carport! Looks like a metal roof, but no knowledge of condition. New bathroom with small shower, toilet & sink. New carpet in bedrooms & living room. Detached garage/shop building (18.5 x 22.8) Block walls on slab with electric & water . Toilet, shower and laundry sink, plus water heater & well pump. Washer & dryer hooks up. Recently replace new roof on garage! Endless possibilities for Work shop, guest quarters or anything imagined? Unfinished, but make it your own? Located on an acre lot, high and dry with no deed restrictions! Don't let this one get away. Lots of possibilities. Seller is making home livable and not increasing the price! Check it out? Mobile was reconfigured into 1 BR and 1 bath & larger lliving room.

4. 2026-03-30
   listed $125,000 Active

   Show marketing remark (1082 chars)

   Range & Refrigerator now installed w/ new floors and cabinets in kitchen . New Electric Service & panels in garage & on pole. Well & water heater are working now . Older 12 x 56 single wide m/h with 10 x 20 front porch, and 11'5 x 27 Back enclosed porch with glass windows and a 12 x 23 carport! Looks like a metal roof, but no knowledge of condition. New bathroom with small shower, toilet & sink. New carpet in bedrooms & living room. Detached garage/shop building (18.5 x 22.8) Block walls on slab with electric & water . Toilet, shower and laundry sink, plus water heater & well pump. Washer & dryer hooks up. Recently replace new roof on garage! Endless possibilities for Work shop, guest quarters or anything imagined? Unfinished, but make it your own? Located on an acre lot, high and dry with no deed restrictions! Don't let this one get away. Lots of possibilities. Seller is making home livable and not increasing the price! Check it out? Mobile was reconfigured into 1 BR and 1 bath & larger lliving room.

5. 2025-08-20
   status Active 1082-char remark

   Show marketing remark (1082 chars)

   Range & Refrigerator now installed w/ new floors and cabinets in kitchen . New Electric Service & panels in garage & on pole. Well & water heater are working now . Older 12 x 56 single wide m/h with 10 x 20 front porch, and 11'5 x 27 Back enclosed porch with glass windows and a 12 x 23 carport! Looks like a metal roof, but no knowledge of condition. New bathroom with small shower, toilet & sink. New carpet in bedrooms & living room. Detached garage/shop building (18.5 x 22.8) Block walls on slab with electric & water . Toilet, shower and laundry sink, plus water heater & well pump. Washer & dryer hooks up. Recently replace new roof on garage! Endless possibilities for Work shop, guest quarters or anything imagined? Unfinished, but make it your own? Located on an acre lot, high and dry with no deed restrictions! Don't let this one get away. Lots of possibilities. Seller is making home livable and not increasing the price! Check it out? Mobile was reconfigured into 1 BR and 1 bath & larger lliving room.

6. 2025-08-19
   historical 1082-char remark

   Show marketing remark (1082 chars)

   Range & Refrigerator now installed w/ new floors and cabinets in kitchen . New Electric Service & panels in garage & on pole. Well & water heater are working now . Older 12 x 56 single wide m/h with 10 x 20 front porch, and 11'5 x 27 Back enclosed porch with glass windows and a 12 x 23 carport! Looks like a metal roof, but no knowledge of condition. New bathroom with small shower, toilet & sink. New carpet in bedrooms & living room. Detached garage/shop building (18.5 x 22.8) Block walls on slab with electric & water . Toilet, shower and laundry sink, plus water heater & well pump. Washer & dryer hooks up. Recently replace new roof on garage! Endless possibilities for Work shop, guest quarters or anything imagined? Unfinished, but make it your own? Located on an acre lot, high and dry with no deed restrictions! Don't let this one get away. Lots of possibilities. Seller is making home livable and not increasing the price! Check it out? Mobile was reconfigured into 1 BR and 1 bath & larger lliving room.

7. 2025-02-18
   listed $135,000 Active 1082-char remark

   Show marketing remark (1082 chars)

   Range & Refrigerator now installed w/ new floors and cabinets in kitchen . New Electric Service & panels in garage & on pole. Well & water heater are working now . Older 12 x 56 single wide m/h with 10 x 20 front porch, and 11'5 x 27 Back enclosed porch with glass windows and a 12 x 23 carport! Looks like a metal roof, but no knowledge of condition. New bathroom with small shower, toilet & sink. New carpet in bedrooms & living room. Detached garage/shop building (18.5 x 22.8) Block walls on slab with electric & water . Toilet, shower and laundry sink, plus water heater & well pump. Washer & dryer hooks up. Recently replace new roof on garage! Endless possibilities for Work shop, guest quarters or anything imagined? Unfinished, but make it your own? Located on an acre lot, high and dry with no deed restrictions! Don't let this one get away. Lots of possibilities. Seller is making home livable and not increasing the price! Check it out? Mobile was reconfigured into 1 BR and 1 bath & larger lliving room.

8. 1994-04-05
   soldstatus $27,900

ⓘ 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: $1,046 · $87/mo
• Projected year-2 tax: $1,046 · $87/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: $18,415
• − Mortgage interest: −$7,002
• − Property taxes: −$1,046
• − Insurance: −$625
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$3,636
• Taxable income: $3,159
• Est. tax owed @ 24.0%: −$758
• After-tax cash flow: $4,252/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 — Lecanto

• Score: 64/100
• State rank: #680
• US rank: #14112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lecanto, FL
• County: Citrus County · 111,314 people
• City population: 13,377
• 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

+348.0% since first listed

8 events — show timeline

• 2026-05-23 Pending — RACC
• 2026-05-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $125,000 RACC
• 2026-03-30 Listed $125,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-20 Relisted — RACC
• 2025-08-19 Delisted — RACC
• 2025-02-18 Listed $135,000 RACC
• 1994-04-05 Sold (Public Records) $27,900 Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,046 · +10.6% YoY. Source: county tax records.