7041 W Grant St · Homosassa Springs, FL 34448

$189,500

3 bd · 2.0 ba · 1,200 sqft · Manufactured public records · 68 Days on market

Built 1987 0.38 ac lot Est $173k · 10% 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 +23.6/30.0
• DSCR +7.6/10.0
• 1% rule +5.3/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• ARV discount +3.2/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

If you’ve been searching for a fully updated, move-in-ready home with modern finishes, outdoor living space, and everyday functionality, this beautifully renovated Homosassa property is one you won’t want to miss. Situated on a spacious 0.38-acre lot, this 3-bedroom, 2-bath manufactured home blends stylish upgrades with comfortable Florida living. Inside, you’ll find fresh interior paint, luxury vinyl plank flooring, and updated lighting and plumbing fixtures throughout, creating a clean and modern feel from the moment you walk in. The heart of the home is the beautifully designed kitchen featuring quartz countertops, a dedicated coffee bar, and a stunning waterfall-edge q

Key facts

• Expansive lot
• Quartz countertops
• Dedicated coffee bar

Tags

• EXPANSIVE LOT
• FRESH INTERIOR PAINT
• LUXURY VINYL PLANK FLOORING
• QUARTZ COUNTERTOPS
• DEDICATED COFFEE BAR
• DUAL-SINK VANITY

Property features AI

Exterior

• Parking: Attached carport; Driveway; Private parking (1 space total)
• Security: Smoke detector(s)
• Utilities: Private well water; Septic tank sewer
• Home design: Manufactured home (double wide); Residential property
• Construction: Asphalt shingle roof
• Exterior features: Cleared lot; County road frontage; No pool

Interior

• Kitchen: Electric oven; Microwave; Refrigerator; Water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Dryer; Electric oven; Microwave; Refrigerator; Water heater; Washer; Smoke detector(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $178k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 5.9% in Homosassa Springs — 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 (#391 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime 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: Rock Crusher Elementary School (math 70% / reading 56%, grade B, #582 of 2,144 statewide, top 28%, 665 students, 68% FRL); Lecanto Middle School (math 49% / reading 49%, grade C-, #265 of 571 statewide, top 48%, 809 students, 55% FRL); Lecanto High School (math 46% / reading 53%, grade D, #179 of 667 statewide, top 29%, 1,630 students, 46% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 307 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• At $1,949/mo this rent would consume 51% of the median local household income ($46k/yr) (locally 113% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $190k implies a 321% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,130 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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: 1.03% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.05%
• DSCR: 1.36
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $172,800
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7115 W Grant St	0.07mi	3/2.0	1,296 (+8%)	3mo	$145,000	$112	80
7059 W Jackson Ln	0.07mi	2/2.0 (-1)	1,204 (+0%)	18mo	$199,000	$165	76
6781 W Grant St	0.26mi	3/2.0	1,294 (+8%)	3mo	$186,000	$144	73
7038 W Jackson Ln	0.10mi	3/2.0	1,296 (+8%)	19mo	$172,000	$133	66
6594 W Grant St	0.44mi	3/2.0	1,152 (-4%)	9mo	$184,000	$160	65
6394 W Beaumont Ln	0.66mi	3/2.0	1,153 (-4%)	9mo	$200,000	$173	55
3524 S Westmoreland Dr	0.46mi	3/2.0	1,352 (+13%)	5mo	$195,000	$144	54
6904 W Ray Ct	0.58mi	4/2.0 (+1)	1,272 (+6%)	17mo	$85,000	$67	44
6589 W Rosedale Dr	0.53mi	3/2.0	1,344 (+12%)	15mo	$235,000	$175	42
3360 S Arundel Ter	0.50mi	2/1.5 (-1)	1,104 (-8%)	17mo	$75,000	$68	42

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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-8,096
• Equity at exit: $28,255

10-year hold

• IRR: 5.6%
• Equity multiple: 1.41×
• Total profit: $21,934
• Equity at exit: $16,384

Cash invested: $53,060 (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 34448

• Home prices YoY: -26.1%
• Active inventory: 307
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,949 medium
• Mortgage (P&I): −$994
• Tax from tax record: −$111 /mo · $1,336/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $356

Break-even live

Break-even rent $1,499

Max offer price $189,500

Occupancy floor 77%

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: $47,375
• Closing costs: $5,685
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3844 S Swan Ter Homosassa, FL	3.0	2.0	1172	$1,800	$1.54	21d	1	0.93mi

Listing history 7 events

1. 2026-05-15
   status Pending
2. 2026-05-06
   status Active
3. 2026-04-21
   historical
4. 2026-04-12
   price $189,500
5. 2026-02-21
   listed $199,900 Active
6. 2003-09-01
   soldstatus $45,000
7. 1992-02-01
   soldstatus $32,000

ⓘ 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: $1,336 · $111/mo
• Projected year-2 tax: $1,573 · $131/mo
• Expected delta: +$237/yr (+$20/mo · 17.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 25 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: $23,390
• − Mortgage interest: −$10,615
• − Property taxes: −$1,336
• − Insurance: −$948
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$5,513
• Taxable income: $1,236
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $3,973/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 — Homosassa Springs

• Score: 71/100
• State rank: #391
• US rank: #6877

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homosassa Springs, FL
• County: Citrus County · 111,314 people
• Metro: Homosassa Springs, FL
• Population (ZIP): 10,817
• Household income: $45,916
• Rent vs Own: 14.6% rent · 85.4% own
• Severe rent burden: 113.0

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 3% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -110.27%
• Current HPI: 312.4302
• 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

+492.2% since first listed

7 events — show timeline

• 2026-05-15 Pending — RACC
• 2026-05-06 Relisted — RACC
• 2026-04-21 Delisted — RACC
• 2026-04-12 Price Changed $189,500 RACC
• 2026-02-21 Listed $199,900 RACC
• 2003-09-01 Sold (Public Records) $45,000 Public Records
• 1992-02-01 Sold (Public Records) $32,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $1,336 · +9.0% YoY. Source: county tax records.