8845 E Washington Ln · Floral City, FL 34436

$103,900

2 bd · 1.0 ba · 732 sqft · Manufactured public records · 24 Days on market

Built 1973 0.45 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 +28.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SNOWBIRD CHARMER * * GREAT DEEDED LAKE ACCESS ON FLORAL CITY LAKES * THIS 2 BEDROOM 1 BATH HOME SHOWS LIKE A DOLL HOUSE. * OWNERS HAVE USED FOR WEEKENDS * * OLDER BUT EXCEPTIONALLY WELL MAINTAINED. GARAGE 20 X 26 * FLORIDA ROOM 25 X 15PLUS FRONT SCREEN ROOM 9 X 24 THIS HOME WAS SET UP FOR OUT DOOR LIVING. STYLISH INTERIOR WITH LAMINATE AND CARPET FLOORS * BRIGHT AND CHEERY

Key facts

• Historic town
• Outdoor recreation
• Spacious lot

Tags

• DETACHED GARAGE
• SPACIOUS LOT
• HISTORIC TOWN
• DUVAL ISLAND BOAT RAMP
• FLORAL CITY CHAIN OF LAKES
• OUTDOOR RECREATION

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces (2 total parking spaces); Driveway; paved and unpaved areas
• Utilities: Public water; Septic tank sewer
• Home design: Manufactured home (single wide); Residential property
• Construction: Single wide manufactured construction
• Exterior features: Metal roof; Rectangular lot; County road frontage; No pool

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Flooring: Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Electric oven and electric range; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $104k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• Recommended offer: $102k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.6% in Floral City — 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 67/100 on livability (#573 in FL) — a middle-class / working-renter tenant base. 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: Floral City Elementary School (math 47% / reading 52%, grade D, #1,088 of 2,144 statewide, top 53%, 389 students, 71% FRL); Inverness Middle School (math 52% / reading 48%, grade C, #254 of 571 statewide, top 45%, 1,017 students, 60% FRL); Citrus High School (math 34% / reading 51%, grade F, #264 of 667 statewide, top 41%, 1,503 students, 54% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 144 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 $718 of loan paydown is wiped out by about $3k 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 $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $35k; list at $104k implies a 197% 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; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,341 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.23% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.95%
• DSCR: 1.62
• 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: 4.2%
• Equity multiple: 1.16×
• Total profit: $4,697
• Equity at exit: $15,492

10-year hold

• IRR: 13.7%
• Equity multiple: 2.09×
• Total profit: $31,797
• Equity at exit: $8,983

Cash invested: $29,092 (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 34436

• Home prices YoY: -3.1%
• Active inventory: 144
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,282 medium
• Mortgage (P&I): −$545
• Tax from tax record: −$87 /mo · $1,039/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $338

Break-even live

Break-even rent $854

Max offer price $103,900

Occupancy floor 69%

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: $25,975
• Closing costs: $3,117
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $103,900 Active 24 DOM
2. 2026-06-18
   days on market $103,900 Active 23 DOM
3. 2026-06-17
   days on market $103,900 Active 22 DOM
4. 2026-06-16
   days on market $103,900 Active 21 DOM
5. 2026-06-15
   days on market $103,900 Active 20 DOM
6. 2026-06-14
   days on market $103,900 Active 18 DOM
7. 2026-06-13
   days on market $103,900 Active 17 DOM
8. 2026-06-10
   days on market $103,900 Active 15 DOM
9. 2026-06-09
   days on market $103,900 Active 14 DOM
10. 2026-06-08
    days on market $103,900 Active 13 DOM
11. 2026-06-07
    days on market $103,900 Active 12 DOM
12. 2026-06-03
    days on market $103,900 Active 8 DOM
13. 2026-06-02
    days on market $103,900 Active 7 DOM
14. 2026-06-01
    days on market $103,900 Active 6 DOM
15. 2026-05-31
    days on market $103,900 Active 5 DOM
16. 2026-05-30
    days on market $103,900 Active 4 DOM
17. 2026-05-21
    listed $103,900 Active
18. 2012-07-16
    soldstatus $35,000 388-char remark

    Show marketing remark (388 chars)

    SNOWBIRD CHARMER * * GREAT DEEDED LAKE ACCESS ON FLORAL CITY LAKES * THIS 2 BEDROOM 1 BATH HOME SHOWS LIKE A DOLL HOUSE. * OWNERS HAVE USED FOR WEEKENDS * * OLDER BUT EXCEPTIONALLY WELL MAINTAINED. GARAGE 20 X 26 * FLORIDA ROOM 25 X 15PLUS FRONT SCREEN ROOM 9 X 24 THIS HOME WAS SET UP FOR OUT DOOR LIVING. STYLISH INTERIOR WITH LAMINATE AND CARPET FLOORS * BRIGHT AND CHEERY

19. 2011-08-22
    listed $39,900 388-char remark

    Show marketing remark (388 chars)

    SNOWBIRD CHARMER * * GREAT DEEDED LAKE ACCESS ON FLORAL CITY LAKES * THIS 2 BEDROOM 1 BATH HOME SHOWS LIKE A DOLL HOUSE. * OWNERS HAVE USED FOR WEEKENDS * * OLDER BUT EXCEPTIONALLY WELL MAINTAINED. GARAGE 20 X 26 * FLORIDA ROOM 25 X 15PLUS FRONT SCREEN ROOM 9 X 24 THIS HOME WAS SET UP FOR OUT DOOR LIVING. STYLISH INTERIOR WITH LAMINATE AND CARPET FLOORS * BRIGHT AND CHEERY

20. 2008-01-03
    soldstatus $45,000
21. 1995-04-06
    soldstatus $29,000
22. 1994-11-01
    soldstatus $28,000

ⓘ 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: $1,039 · $87/mo
• Projected year-2 tax: $1,039 · $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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $15,387
• − Mortgage interest: −$5,820
• − Property taxes: −$1,039
• − Insurance: −$520
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$3,023
• Taxable income: $2,524
• Est. tax owed @ 24.0%: −$606
• After-tax cash flow: $3,453/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 — Floral City

• Score: 67/100
• State rank: #573
• US rank: #10898

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: Floral City, FL
• City population: 8,170
• Population (ZIP): 8,170

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 (86%)
• Race & ethnicity: White 86% Two or more races 5% Hispanic / Latino 4% Black 4% Native American 2%
• Common ancestry: Lithuanian 4% Italian 4% Iranian 1%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 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: ▼ -12.20%
• Current HPI: 374.4353
• Rent YoY: —
• Metro: —
• 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

+271.1% since first listed

6 events — show timeline

• 2026-05-21 Listed $103,900 RACC
• 2012-07-16 Sold (MLS) $35,000 RACC
• 2011-08-22 Listed $39,900 RACC
• 2008-01-03 Sold (Public Records) $45,000 Public Records
• 1995-04-06 Sold (Public Records) $29,000 Public Records
• 1994-11-01 Sold (Public Records) $28,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,039 · +11.1% YoY. Source: county tax records.