942 CR 461 · Lake Panasoffkee, FL 33538

$149,400

2 bd · 2.0 ba · 784 sqft · Manufactured public records · 95 Days on market

Built 1985 3,750 sqft lot $13/mo HOA · 1% of rent

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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 +19.4/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• DSCR +6.1/10.0
• Schools +5.2/10.0
• 1% rule +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Under contract-accepting backup offers. 8 steps to to the Marina. If you love to fish, you are going to love this location. It's approximately 50 yards from Marina to the Lake. From the lake you can explore Jones Creek, Little Jones Creek, Shady Brook and air boat the backwaters. Head down the Outlet River to the Withlacoochee River. Once on the Withlacoochee you can travel for miles and miles. This place is a sportsman paradise. Across the water is 9000 acre Lake Panasoffkee WMA, to the south of town is Jumper Creek WMA and nearby is Half Moon, Flying Eagle, Croom Wildlife Management areas. If you love the outdoors, hiking, bird-watching, fishing, hunting, kayaking, air boating. .. this is paradise. When the weather starts to cool, the snowbirds start to arrive. The community comes alive. Join the fish fry, pot luck dinners and friends at the fire pit. About the Home – It's a well kept, comfortable home. You can move in right away – no work is needed. As a bonus, seller is willing to leave some of the furnishings. It has been used as a weekend home. There are 2 bedrooms and 2 baths. The third bedroom is a flexible space. Use it as a bedroom, family room, office or family room. There are built-ins in 2 bedrooms that give you plenty of storage space. The kitchen is nice size, large family room for friends and family to congregate. Also, there's a nice screened porch that catches breezes from the lake. Low maintenance yard, perfect for the part-timer or retiree. This is important. .. You own the land, HOA fees are cheap, less than 250 per year. This property will qualify for a loan, possibly 0% Down USDA, we can get you in contact with Angela for qualifying. Compare what's selling in this price range, this is a great deal.

Key facts

• Waterfront community
• 3,750 sq ft lot
• Built 1985

Tags

• WATERFRONT COMMUNITY
• DIRECT ACCESS TO LAKE
• SCENIC WITHLACOOCHEE RIVER
• CROOM WILDLIFE MANAGEMENT AREA

Property features AI

Finance

• HOA & community: Leisure Time association required; HOA fee $165 annually (about $13.75/month); Pets allowed; Partially furnished

Exterior

• Utilities: Public water; Septic tank; Electricity connected
• Home design: Residential manufactured home; Single wide; One story; East-facing entry
• Construction: Vinyl siding; Shingle roof; Other foundation
• Exterior features: Storage

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning
• Interior features: Open floorplan
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $149k.

Deal economics

• At list price, monthly cash flow is $-261 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (30.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (8.1% below list).
• Recommended offer: $103k (30.9% below list) — sets the bar for cash-flow.
• Cap rate 7.6% vs local median 5.1% in Lake Panasoffkee — 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 72/100 on livability (#332 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-.
• Sumter (rural): math 61% / reading 61% proficiency, ranked #11 of 73 in FL (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 86 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 3,961 units permitted in Sumter County in 2024 (248 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (5.0% local appreciation)).
• Sumter County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $122k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,296 (30.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 0.92% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.75%
• DSCR: 1.21
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $84,672
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1051 Cr Rd 461	0.12mi	2/1.0	720 (-8%)	7mo	$79,500	$110	71
1141 NW 12th Ln	0.64mi	2/2.0	784 (0%)	6mo	$140,000	$179	65
1068 CR 461	0.13mi	3/1.5 (+1)	708 (-10%)	7mo	$47,000	$66	65
1178 Cr 461	0.24mi	2/1.0	720 (-8%)	11mo	$77,500	$108	62
860 CR 482b	0.58mi	2/2.0	672 (-14%)	14mo	$60,000	$89	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.43×
• Total profit: $17,918
• Equity at exit: $84,549

10-year hold

• IRR: 8.9%
• Equity multiple: 2.65×
• Total profit: $69,024
• Equity at exit: $145,825

Cash invested: $41,832 (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 33538

• Home prices YoY: 1.5%
• Active inventory: 86
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,372 medium
• Mortgage (P&I): −$783
• Tax from tax record: −$60 /mo · $719/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$13
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $-261

Break-even live

Break-even rent $1,703

Max offer price $103,296

Occupancy floor —

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: $37,350
• Closing costs: $4,482
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 CR 443 Lake Panasoffkee, FL	2.0	2.0	973	$1,575	$1.62	20d	1	0.67mi
1115 NW 12th Ln Lake Panasoffkee, FL	2.0	2.0	784	$1,295	$1.65	20d	1	0.71mi
2248 CR 446 Lake Panasoffkee, FL	1.0	1.0	650	$1,225	$1.88	20d	1	0.90mi

HOA detail

• Monthly dues: $13 · $156/yr
• Likely covers: water

Listing history 25 events

1. 2026-06-19
   days on market $149,400 Active 95 DOM
2. 2026-06-18
   days on market $149,400 Active 94 DOM
3. 2026-06-17
   days on market $149,400 Active 93 DOM
4. 2026-06-16
   days on market $149,400 Active 92 DOM
5. 2026-06-15
   days on market $149,400 Active 91 DOM
6. 2026-06-14
   days on market $149,400 Active 89 DOM
7. 2026-06-13
   days on market $149,400 Active 88 DOM
8. 2026-06-10
   days on market $149,400 Active 86 DOM
9. 2026-06-09
   days on market $149,400 Active 85 DOM
10. 2026-06-08
    days on market $149,400 Active 84 DOM
11. 2026-06-07
    days on market $149,400 Active 83 DOM
12. 2026-06-02
    days on market $149,400 Active 78 DOM
13. 2026-06-01
    days on market $149,400 Active 77 DOM
14. 2026-05-31
    days on market $149,400 Active 76 DOM
15. 2026-05-30
    days on market $149,400 Active 75 DOM
16. 2026-04-20
    price $149,400
17. 2026-03-16
    listed $149,900 Active
18. 2023-09-08
    soldstatus $122,000
19. 2023-09-01
    soldstatus $122,000 Closed 1763-char remark

    Show marketing remark (1763 chars)

    Under contract-accepting backup offers. 8 steps to to the Marina. If you love to fish, you are going to love this location. It's approximately 50 yards from Marina to the Lake. From the lake you can explore Jones Creek, Little Jones Creek, Shady Brook and air boat the backwaters. Head down the Outlet River to the Withlacoochee River. Once on the Withlacoochee you can travel for miles and miles. This place is a sportsman paradise. Across the water is 9000 acre Lake Panasoffkee WMA, to the south of town is Jumper Creek WMA and nearby is Half Moon, Flying Eagle, Croom Wildlife Management areas. If you love the outdoors, hiking, bird-watching, fishing, hunting, kayaking, air boating. .. this is paradise. When the weather starts to cool, the snowbirds start to arrive. The community comes alive. Join the fish fry, pot luck dinners and friends at the fire pit. About the Home – It's a well kept, comfortable home. You can move in right away – no work is needed. As a bonus, seller is willing to leave some of the furnishings. It has been used as a weekend home. There are 2 bedrooms and 2 baths. The third bedroom is a flexible space. Use it as a bedroom, family room, office or family room. There are built-ins in 2 bedrooms that give you plenty of storage space. The kitchen is nice size, large family room for friends and family to congregate. Also, there's a nice screened porch that catches breezes from the lake. Low maintenance yard, perfect for the part-timer or retiree. This is important. .. You own the land, HOA fees are cheap, less than 250 per year. This property will qualify for a loan, possibly 0% Down USDA, we can get you in contact with Angela for qualifying. Compare what's selling in this price range, this is a great deal.

20. 2023-08-22
    status Pending 1763-char remark

    Show marketing remark (1763 chars)

    Under contract-accepting backup offers. 8 steps to to the Marina. If you love to fish, you are going to love this location. It's approximately 50 yards from Marina to the Lake. From the lake you can explore Jones Creek, Little Jones Creek, Shady Brook and air boat the backwaters. Head down the Outlet River to the Withlacoochee River. Once on the Withlacoochee you can travel for miles and miles. This place is a sportsman paradise. Across the water is 9000 acre Lake Panasoffkee WMA, to the south of town is Jumper Creek WMA and nearby is Half Moon, Flying Eagle, Croom Wildlife Management areas. If you love the outdoors, hiking, bird-watching, fishing, hunting, kayaking, air boating. .. this is paradise. When the weather starts to cool, the snowbirds start to arrive. The community comes alive. Join the fish fry, pot luck dinners and friends at the fire pit. About the Home – It's a well kept, comfortable home. You can move in right away – no work is needed. As a bonus, seller is willing to leave some of the furnishings. It has been used as a weekend home. There are 2 bedrooms and 2 baths. The third bedroom is a flexible space. Use it as a bedroom, family room, office or family room. There are built-ins in 2 bedrooms that give you plenty of storage space. The kitchen is nice size, large family room for friends and family to congregate. Also, there's a nice screened porch that catches breezes from the lake. Low maintenance yard, perfect for the part-timer or retiree. This is important. .. You own the land, HOA fees are cheap, less than 250 per year. This property will qualify for a loan, possibly 0% Down USDA, we can get you in contact with Angela for qualifying. Compare what's selling in this price range, this is a great deal.

21. 2023-07-01
    listed $124,000 Active 1763-char remark

    Show marketing remark (1763 chars)

    Under contract-accepting backup offers. 8 steps to to the Marina. If you love to fish, you are going to love this location. It's approximately 50 yards from Marina to the Lake. From the lake you can explore Jones Creek, Little Jones Creek, Shady Brook and air boat the backwaters. Head down the Outlet River to the Withlacoochee River. Once on the Withlacoochee you can travel for miles and miles. This place is a sportsman paradise. Across the water is 9000 acre Lake Panasoffkee WMA, to the south of town is Jumper Creek WMA and nearby is Half Moon, Flying Eagle, Croom Wildlife Management areas. If you love the outdoors, hiking, bird-watching, fishing, hunting, kayaking, air boating. .. this is paradise. When the weather starts to cool, the snowbirds start to arrive. The community comes alive. Join the fish fry, pot luck dinners and friends at the fire pit. About the Home – It's a well kept, comfortable home. You can move in right away – no work is needed. As a bonus, seller is willing to leave some of the furnishings. It has been used as a weekend home. There are 2 bedrooms and 2 baths. The third bedroom is a flexible space. Use it as a bedroom, family room, office or family room. There are built-ins in 2 bedrooms that give you plenty of storage space. The kitchen is nice size, large family room for friends and family to congregate. Also, there's a nice screened porch that catches breezes from the lake. Low maintenance yard, perfect for the part-timer or retiree. This is important. .. You own the land, HOA fees are cheap, less than 250 per year. This property will qualify for a loan, possibly 0% Down USDA, we can get you in contact with Angela for qualifying. Compare what's selling in this price range, this is a great deal.

22. 2006-02-16
    soldstatus $80,000
23. 2006-02-15
    soldstatus $80,000 392-char remark

    Show marketing remark (392 chars)

    Perfect retirement home. .. Beautifully maintainted mobile home. Looks much newer than it is. Very nice furniture throughout. .. one lot away from boat ramp. Nice marina area so that owners can leave their boat in the water. .for that quick fishing trip. .. There is anice Florida Room addition that has the washer and dryer and is nicely furnished. .. no central air or heat in this room.

24. 2005-12-16
    listed $92,500 392-char remark

    Show marketing remark (392 chars)

    Perfect retirement home. .. Beautifully maintainted mobile home. Looks much newer than it is. Very nice furniture throughout. .. one lot away from boat ramp. Nice marina area so that owners can leave their boat in the water. .for that quick fishing trip. .. There is anice Florida Room addition that has the washer and dryer and is nicely furnished. .. no central air or heat in this room.

25. 2003-04-09
    soldstatus $45,000

ⓘ 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: $719 · $60/mo
• Projected year-2 tax: $1,240 · $103/mo
• Expected delta: +$521/yr (+$43/mo · 72.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,469
• − Mortgage interest: −$8,369
• − Property taxes: −$719
• − Insurance: −$5,866
• − Repairs & maintenance: −$1,318
• − Management: −$1,318
• − HOA: −$156
• − Depreciation: −$4,346
• Taxable loss: −$5,622
• Est. tax savings @ 24.0%: +$1,349
• After-tax cash flow: $-1,783/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: Sumter
• NCES district ID: 1201800
• Math proficiency: 61% ▼ -4.00%
• Reading proficiency: 61% ▼ -2.00%
• Median HH income: $48,240
• Composite: 51.74/100
• National rank: #1682
• State rank: #11 of 73 in FL

Livability — Lake Panasoffkee

• Score: 72/100
• State rank: #332
• US rank: #5777

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Panasoffkee, FL
• Population (ZIP): 5,748

Population outlook (Sumter County) Hauer SSP2

• Today (2025): 161,172 people
• By 2030: 180,083 · +11.7%
• By 2040: 209,892 · +30.2%
• By 2050: 234,186 · +45.3%
• By 2075: 284,602 · +76.6%
• By 2100: 317,039 · +96.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 7% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Sumter

• 2024 margin: Solid R (+37.6) · D 30.9% · R 68.6%
• 2008→2024 swing: -10.6pp toward R · 2008: -27.0pp · 2024: -37.6pp
• All cycles: 2024: R+37.6 2020: R+36.1 2016: R+39.2 2012: R+34.9 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.99%
• Current HPI: 329.8431
• 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

+232.0% since first listed

10 events — show timeline

• 2026-04-20 Price Changed $149,400 Stellar MLS as Distributed by MLS Grid
• 2026-03-16 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2023-09-08 Sold (Public Records) $122,000 Public Records
• 2023-09-01 Sold (MLS) $122,000 Stellar MLS as Distributed by MLS Grid
• 2023-08-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-07-01 Listed $124,000 Stellar MLS as Distributed by MLS Grid
• 2006-02-16 Sold (Public Records) $80,000 Public Records
• 2006-02-15 Sold (MLS) $80,000 Stellar MLS as Distributed by MLS Grid
• 2005-12-16 Listed $92,500 Stellar MLS as Distributed by MLS Grid
• 2003-04-09 Sold (Public Records) $45,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $719 · +2.0% YoY. Source: county tax records.