4524 N Canoe Ter · Hernando, FL 34442

$106,000

2 bd · 2.0 ba · 672 sqft · Manufactured public records · 70 Days on market

Built 1971 6,978 sqft lot Est $80k · 33% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Perfect Snowbird Getaway has 2 Bedrooms & 1.5 Bathrooms and comes Completely Furnished !!Features include a Roof Over w/ Gutters, Central Heat & Air, 10x18 Covered Front Porch, 12x21 Carport and 8x12 Shed w/ electric. Nice Double Lot.

Key facts

• Modernized kitchen
• Public boat ramps
• 6,978 sq ft lot

Tags

• MODERNIZED KITCHEN
• NEWLY BUILT BACK PORCH
• PUBLIC BOAT RAMPS
• WITHLACOOCHEE STATE TRAIL

Property features AI

Finance

• Other: Located in Apache Shores Units 1-13 subdivision; Zoning: CL, CLMH

Exterior

• Parking: Unpaved parking
• Utilities: Private well water; Septic sewer
• Home design: Manufactured home (single wide); Residential property
• Construction: Metal roof
• Exterior features: Metal roof; Rectangular lot; Paved road access; Private well for water; Septic tank

Interior

• Kitchen: Electric cooktop, electric oven, electric range, refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Electric cooktop, electric oven, electric range, refrigerator; Central heating (electric); Central air conditioning

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $106k.

Deal economics

• At list price, monthly cash flow is $469 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).
• Recommended offer: $100k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 5.6% in Hernando — 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 (#402 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• 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: Citrus Springs Elementary School (math 52% / reading 48%, grade D+, #1,070 of 2,144 statewide, top 51%, 817 students, 71% FRL); Citrus Springs Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 821 students, 59% FRL).
• Market conditions: 444 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($57k/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 $733 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 $30k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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 $60k; list at $106k implies a 77% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,640 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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: 1.37% ✓
• Cap rate: 11.61%
• Cash-on-cash: 18.98%
• DSCR: 1.84
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $79,968
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3513 E Buffalo Ln	0.19mi	2/1.0	672 (0%)	0mo	$80,000	$119	87
3560 E Squaw Valley Dr	0.07mi	2/1.0	644 (-4%)	11mo	$122,000	$189	76
4794 N Apache Trl	0.29mi	2/1.0	762 (+13%)	1mo	$85,000	$112	59
2948 E Blackberry Ln	0.64mi	2/1.0	616 (-8%)	14mo	$70,000	$114	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.43×
• Total profit: $12,701
• Equity at exit: $15,805

10-year hold

• IRR: 19.9%
• Equity multiple: 2.67×
• Total profit: $49,496
• Equity at exit: $9,165

Cash invested: $29,680 (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 34442

• Home prices YoY: -21.9%
• Active inventory: 444
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,449 medium
• Mortgage (P&I): −$556
• Tax from tax record: −$75 /mo · $903/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $469

Break-even live

Break-even rent $855

Max offer price $106,000

Occupancy floor 63%

Sensitivity live

Price	-10% $529	-5% $499	+0% $469	+5% $439	+10% $409
Rent	-10% $355	-5% $412	+0% $469	+5% $527	+10% $584
Rate	-1.0pp $523	-0.5pp $496	base $469	+0.5pp $442	+1.0pp $414

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: $26,500
• Closing costs: $3,180
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $106,000 Active 70 DOM
2. 2026-06-18
   days on market $106,000 Active 69 DOM
3. 2026-06-17
   days on market $106,000 Active 68 DOM
4. 2026-06-16
   days on market $106,000 Active 67 DOM
5. 2026-06-15
   days on market $106,000 Active 66 DOM
6. 2026-06-14
   days on market $106,000 Active 64 DOM
7. 2026-06-13
   days on market $106,000 Active 63 DOM
8. 2026-06-09
   days on market $106,000 Active 60 DOM
9. 2026-06-08
   days on market $106,000 Active 59 DOM
10. 2026-06-07
    days on market $106,000 Active 58 DOM
11. 2026-06-03
    days on market $106,000 Active 54 DOM
12. 2026-06-02
    days on market $106,000 Active 53 DOM
13. 2026-06-01
    days on market $106,000 Active 52 DOM
14. 2026-05-31
    days on market $106,000 Active 51 DOM
15. 2026-05-30
    days on market $106,000 Active 50 DOM
16. 2026-05-12
    price $106,000
17. 2026-04-10
    listed $111,000 Active
18. 2022-05-31
    soldstatus $60,000
19. 2021-07-02
    soldstatus $45,500
20. 2007-05-14
    soldstatus $38,000 251-char remark

    Show marketing remark (251 chars)

    This Perfect Snowbird Getaway has 2 Bedrooms & 1.5 Bathrooms and comes Completely Furnished !!Features include a Roof Over w/ Gutters, Central Heat & Air, 10x18 Covered Front Porch, 12x21 Carport and 8x12 Shed w/ electric. Nice Double Lot.

21. 2007-03-10
    listed $39,900 251-char remark

    Show marketing remark (251 chars)

    This Perfect Snowbird Getaway has 2 Bedrooms & 1.5 Bathrooms and comes Completely Furnished !!Features include a Roof Over w/ Gutters, Central Heat & Air, 10x18 Covered Front Porch, 12x21 Carport and 8x12 Shed w/ electric. Nice Double Lot.

22. 2006-05-24
    soldstatus $33,900 223-char remark

    Show marketing remark (223 chars)

    Neat and clean, brand new refrigerator and range, carpet shampoed, ceiling fans, split floor plan, 1/2 bath in master bedroom, on double lot with nice shade trees. Washer and dryer hook-up in shed. A must see at this price.

23. 2006-03-23
    listed $34,900 223-char remark

    Show marketing remark (223 chars)

    Neat and clean, brand new refrigerator and range, carpet shampoed, ceiling fans, split floor plan, 1/2 bath in master bedroom, on double lot with nice shade trees. Washer and dryer hook-up in shed. A must see at this price.

24. 2004-07-22
    soldstatus $13,500
25. 1997-12-01
    soldstatus $10,000
26. 1992-03-01
    soldstatus $17,000
27. 1983-02-01
    soldstatus $13,900

ⓘ 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: $903 · $75/mo
• Projected year-2 tax: $903 · $75/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $17,386
• − Mortgage interest: −$5,938
• − Property taxes: −$903
• − Insurance: −$530
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$3,084
• Taxable income: $4,150
• Est. tax owed @ 24.0%: −$996
• After-tax cash flow: $4,636/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 — Hernando

• Score: 71/100
• State rank: #402
• US rank: #7137

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hernando, FL
• County: Citrus County · 111,314 people
• City population: 17,281
• Metro: Homosassa Springs, FL
• Population (ZIP): 17,281
• Household income: $57,259
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 314.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Asian 2% Black 2%
• Common ancestry: Romanian 4% Slovak 4% Lithuanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 93% English-only · Spanish 3% German/W. Germanic 2% Tagalog/Filipino 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: ▼ -76.70%
• Current HPI: 273.3262
• 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

+662.6% since first listed

12 events — show timeline

• 2026-05-12 Price Changed $106,000 RACC
• 2026-04-10 Listed $111,000 RACC
• 2022-05-31 Sold (Public Records) $60,000 Public Records
• 2021-07-02 Sold (Public Records) $45,500 Public Records
• 2007-05-14 Sold (MLS) $38,000 RACC
• 2007-03-10 Listed $39,900 RACC
• 2006-05-24 Sold (MLS) $33,900 RACC
• 2006-03-23 Listed $34,900 RACC
• 2004-07-22 Sold (Public Records) $13,500 Public Records
• 1997-12-01 Sold (Public Records) $10,000 Public Records
• 1992-03-01 Sold (Public Records) $17,000 Public Records
• 1983-02-01 Sold (Public Records) $13,900 Public Records

Property tax history

+25.5%/yr

Latest (2025): $903 · +14.2% YoY. Source: county tax records.