16148 Boca Raton St · Spring Hill, FL 34604

$64,900

2 bd · 1.0 ba · 684 sqft · Manufactured public records · 97 Days on market

Built 1966 7,500 sqft lot Est $93k · 30% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to a great opportunity for investors, cash buyers, or anyone looking for a project with potential. This 2-bedroom, 1-bath manufactured home, built in 1966, sits on a fenced lot in a convenient Brooksville location. The property offers flexibility--renovate the existing home or explore the option of placing a new manufactured home. With no HOA and plenty of space, it's ideal for those seeking a more private, rural setting while still being just minutes from the Suncoast Parkway, shopping, and everyday conveniences. A well is present on the property (condition unknown), adding additional potential for those looking to customize the property to their needs. If you're looking for value, land, and the chance to create something your own, this property is worth a closer look.

Key facts

• Ideal location
• 7,500 sq ft lot
• Built 1966

Tags

• FULLY FENCED PROPERTY
• IDEAL LOCATION

Property features AI

Finance

• Other: Lot size approximately 0.17 acres; Living area 684 square feet
• Financial info: No lease restrictions; Property zoned RES
• HOA & community: No HOA

Exterior

• Parking: No parking details provided
• Utilities: Well water; Septic tank; Utilities: Other
• Home design: Residential single-wide mobile home; One story; North-facing
• Construction: Shingle roof; Other construction materials; Crawlspace foundation; Built as a single level (one story)
• Exterior features: Dirt road access

Interior

• Kitchen: Appliances: Other
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating: Other; Cooling: Other
• Interior features: Kitchen and family room combined
• Laundry & utility: Laundry: Other

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 4.4% in Spring Hill — 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 63/100 on livability (#738 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Hernando (suburban): math 50% / reading 50% proficiency, ranked #38 of 73 in FL (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 196 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $65k implies a 263% 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; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,059 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.33% ✓
• Cap rate: 20.11%
• Cash-on-cash: 49.34%
• DSCR: 3.20
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $93,024
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16137 Melbourne St	0.03mi	2/2.0	748 (+9%)	11mo	$170,000	$227	70
16124 Fruitville St	0.46mi	2/2.0	660 (-4%)	3mo	$90,000	$136	66
16123 Sarasota St	0.49mi	2/1.0	708 (+4%)	7mo	$90,000	$127	66
15435 Sinclair Rd	0.73mi	2/2.0	744 (+9%)	17mo	$85,000	$114	33

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 · 1.61% rent growth · sell at horizon

5-year hold

• IRR: 45.4%
• Equity multiple: 2.93×
• Total profit: $35,006
• Equity at exit: $9,677

10-year hold

• IRR: 50.6%
• Equity multiple: 5.60×
• Total profit: $83,530
• Equity at exit: $5,611

Cash invested: $18,172 (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 34604

• Home prices YoY: -23.4%
• Rents YoY: 1.6%
• Active inventory: 196
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,510 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$78 /mo · $937/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $747

Break-even live

Break-even rent $564

Max offer price $64,900

Occupancy floor 46%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
286 Cherry Birch LN Masaryktown, FL	3.0	1.0–2.0	964	$1,703	$1.77	1d	44	1.21mi

Listing history 20 events

1. 2026-06-18
   days on market $64,900 Active 97 DOM
2. 2026-06-17
   days on market $64,900 Active 96 DOM
3. 2026-06-16
   days on market $64,900 Active 95 DOM
4. 2026-06-15
   days on market $64,900 Active 94 DOM
5. 2026-06-13
   days on market $64,900 Active 92 DOM
6. 2026-06-13
   days on market $64,900 Active 91 DOM
7. 2026-06-09
   days on market $64,900 Active 88 DOM
8. 2026-06-08
   days on market $64,900 Active 87 DOM
9. 2026-06-07
   days on market $64,900 Active 86 DOM
10. 2026-06-04
    days on market $64,900 Active 83 DOM
11. 2026-06-03
    days on market $64,900 Active 82 DOM
12. 2026-06-02
    days on market $64,900 Active 81 DOM
13. 2026-06-01
    days on market $64,900 Active 80 DOM
14. 2026-05-31
    days on market $64,900 Active 79 DOM
15. 2026-03-31
    price $72,900 788-char remark

    Show marketing remark (788 chars)

    Welcome to a great opportunity for investors, cash buyers, or anyone looking for a project with potential. This 2-bedroom, 1-bath manufactured home, built in 1966, sits on a fenced lot in a convenient Brooksville location. The property offers flexibility--renovate the existing home or explore the option of placing a new manufactured home. With no HOA and plenty of space, it's ideal for those seeking a more private, rural setting while still being just minutes from the Suncoast Parkway, shopping, and everyday conveniences. A well is present on the property (condition unknown), adding additional potential for those looking to customize the property to their needs. If you're looking for value, land, and the chance to create something your own, this property is worth a closer look.

16. 2026-03-31
    price $72,900

    Show marketing remark (788 chars)

    Welcome to a great opportunity for investors, cash buyers, or anyone looking for a project with potential. This 2-bedroom, 1-bath manufactured home, built in 1966, sits on a fenced lot in a convenient Brooksville location. The property offers flexibility--renovate the existing home or explore the option of placing a new manufactured home. With no HOA and plenty of space, it's ideal for those seeking a more private, rural setting while still being just minutes from the Suncoast Parkway, shopping, and everyday conveniences. A well is present on the property (condition unknown), adding additional potential for those looking to customize the property to their needs. If you're looking for value, land, and the chance to create something your own, this property is worth a closer look.

17. 2026-03-11
    listed $80,000 Active
18. 2026-02-03
    price $80,000 788-char remark

    Show marketing remark (788 chars)

    Welcome to a great opportunity for investors, cash buyers, or anyone looking for a project with potential. This 2-bedroom, 1-bath manufactured home, built in 1966, sits on a fenced lot in a convenient Brooksville location. The property offers flexibility--renovate the existing home or explore the option of placing a new manufactured home. With no HOA and plenty of space, it's ideal for those seeking a more private, rural setting while still being just minutes from the Suncoast Parkway, shopping, and everyday conveniences. A well is present on the property (condition unknown), adding additional potential for those looking to customize the property to their needs. If you're looking for value, land, and the chance to create something your own, this property is worth a closer look.

19. 2025-12-27
    listed $89,900 Active 788-char remark

    Show marketing remark (788 chars)

    Welcome to a great opportunity for investors, cash buyers, or anyone looking for a project with potential. This 2-bedroom, 1-bath manufactured home, built in 1966, sits on a fenced lot in a convenient Brooksville location. The property offers flexibility--renovate the existing home or explore the option of placing a new manufactured home. With no HOA and plenty of space, it's ideal for those seeking a more private, rural setting while still being just minutes from the Suncoast Parkway, shopping, and everyday conveniences. A well is present on the property (condition unknown), adding additional potential for those looking to customize the property to their needs. If you're looking for value, land, and the chance to create something your own, this property is worth a closer look.

20. 1995-01-04
    soldstatus $17,900

ⓘ 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: $937 · $78/mo
• Projected year-2 tax: $937 · $78/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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,116
• − Mortgage interest: −$3,635
• − Property taxes: −$937
• − Insurance: −$324
• − Repairs & maintenance: −$1,449
• − Management: −$1,449
• − Depreciation: −$1,888
• Taxable income: $8,432
• Est. tax owed @ 24.0%: −$2,024
• After-tax cash flow: $6,942/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: Hernando
• NCES district ID: 1200810
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $41,985
• Composite: 42.03/100
• National rank: #3329
• State rank: #38 of 73 in FL

Livability — Spring Hill

• Score: 63/100
• State rank: #738
• US rank: #15937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Hill, FL
• County: Hernando County · 169,677 people
• City population: 83,915
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 13,642
• Household income: $84,833
• Rent vs Own: 8.5% rent · 91.5% own
• Severe rent burden: 142.0

Population outlook (Hernando County) Hauer SSP2

• Today (2025): 189,218 people
• By 2030: 194,367 · +2.7%
• By 2040: 203,398 · +7.5%
• By 2050: 209,589 · +10.8%
• By 2075: 218,452 · +15.4%
• By 2100: 205,923 · +8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 10% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 10% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Hernando

• 2024 margin: Solid R (+37.0) · D 31.1% · R 68.2%
• 2008→2024 swing: -33.5pp toward R · 2008: -3.6pp · 2024: -37.0pp
• All cycles: 2024: R+37.0 2020: R+30.2 2016: R+29.0 2012: R+8.5 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.38%
• Current HPI: 276.4751
• Rent YoY: ▲ 1.61%
• Metro: Tampa-St. Petersburg-Clearwater, 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

+307.3% since first listed

6 events — show timeline

• 2026-03-31 Price Changed $72,900 HCAR
• 2026-03-31 Price Changed $72,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-11 Listed $80,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-03 Price Changed $80,000 HCAR
• 2025-12-27 Listed $89,900 HCAR
• 1995-01-04 Sold (Public Records) $17,900 Public Records

Property tax history

+10.4%/yr

Latest (2025): $937 · -1.1% YoY. Source: county tax records.