4555 S Leisure Blvd · Lecanto, FL 34461

$135,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 97 Days on market

Built 1984 0.50 ac lot Est $170k · 21% 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 +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Enjoy comfortable and elegant living in this spacious four-bedroom, three-bathroom home, featuring a luxurious master suite with a brand-new jacuzzi. Designed for a modern lifestyle, this property offers expansive open spaces, abundant natural light, and high-quality finishes throughout. Ideal for families or professionals seeking comfort and style, this residence combines relaxation and functionality in a prime location. Back on the Market

Key facts

• Master suite
• Open spaces
• Natural light

Tags

• MASTER SUITE
• JACUZZI
• OPEN SPACES
• NATURAL LIGHT
• HIGH-QUALITY FINISHES
• PRIME LOCATION

Property features AI

Finance

• Other: Zoning: Rural residential; Lot size approx. 0.5 acre (100 x 218); Total acreage: 1/2 to less than 1
• Financial info: Unfurnished; Association amenities: Other
• HOA & community: Community features: None; Pets allowed: Cats and dogs

Exterior

• Parking: Boat parking; Open parking; RV carport; RV garage; 2-car carport
• Security: Smoke detector(s)
• Utilities: Septic tank; No public water; Other utilities
• Home design: Manufactured home (double wide); Residential property; One story; South facing; Completed condition; Entry level: 1
• Construction: Frame construction; Shingle roof; Slab foundation; Built as a double wide; Living area approx. 1,152 (per appraiser)
• Exterior features: Patio; Paved lot; Road surface: paved

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; No cooling
• Interior features: Ceiling fans; Smoke detector(s)
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $736 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 5.2% in Lecanto — 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 64/100 on livability (#680 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B; Watch: health & safety C-, employment D, amenities 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: Lecanto Primary School (math 55% / reading 53%, grade C, #936 of 2,144 statewide, top 44%, 820 students, 63% FRL); Lecanto High School (math 46% / reading 53%, grade D, #179 of 667 statewide, top 29%, 1,630 students, 46% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 197 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($63k/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 $933 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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 $135k implies a 125% 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; major 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 $122,850 (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. 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 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?
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: 1.51% ✓
• Cap rate: 12.83%
• Cash-on-cash: 23.35%
• DSCR: 2.04
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $170,496
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4729 S Hatteray Pt	0.52mi	3/2.0	1,080 (-6%)	6mo	$160,000	$148	61

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: 16.4%
• Equity multiple: 1.66×
• Total profit: $24,964
• Equity at exit: $20,129

10-year hold

• IRR: 25.0%
• Equity multiple: 3.17×
• Total profit: $82,032
• Equity at exit: $11,672

Cash invested: $37,800 (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 34461

• Home prices YoY: -10.2%
• Active inventory: 197
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,034 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$107 /mo · $1,281/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $736

Break-even live

Break-even rent $1,103

Max offer price $135,000

Occupancy floor 59%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   remarks 484-char remark
2. 2026-06-18
   status $135,000 Pending 97 DOM
3. 2026-06-18
   days on market $135,000 Active 97 DOM
4. 2026-06-17
   days on market $135,000 Active 96 DOM
5. 2026-06-16
   days on market $135,000 Active 95 DOM
6. 2026-06-15
   days on market $135,000 Active 94 DOM
7. 2026-06-14
   days on market $135,000 Active 92 DOM
8. 2026-06-13
   days on market $135,000 Active 91 DOM
9. 2026-06-09
   days on market $135,000 Active 88 DOM
10. 2026-06-08
    days on market $135,000 Active 87 DOM
11. 2026-06-03
    days on market $135,000 Active 82 DOM
12. 2026-06-02
    days on market $135,000 Active 81 DOM
13. 2026-06-01
    days on market $135,000 Active 80 DOM
14. 2026-05-31
    days on market $135,000 Active 79 DOM
15. 2026-05-30
    days on market $135,000 Active 78 DOM
16. 2026-03-31
    status Active
17. 2026-03-08
    status Pending
18. 2026-02-13
    listed $135,000 Active
19. 2026-01-05
    listed $135,000
20. 2026-01-05
    historical
21. 2025-12-06
    historical $1,500
22. 2025-11-21
    price $1,500
23. 2025-07-27
    listed $1,700
24. 2022-12-31
    historical
25. 2022-06-02
    listed $170,000 Active
26. 2021-11-15
    soldstatus $60,000 Closed
27. 2021-11-15
    soldstatus $60,000
28. 2021-11-01
    status Pending
29. 2021-10-11
    listed $80,000 Active
30. 2005-08-16
    soldstatus $60,000

ⓘ 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: $1,281 · $107/mo
• Projected year-2 tax: $1,281 · $107/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) · 23% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 26 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: $24,403
• − Mortgage interest: −$7,562
• − Property taxes: −$1,281
• − Insurance: −$675
• − Repairs & maintenance: −$1,952
• − Management: −$1,952
• − Depreciation: −$3,927
• Taxable income: $7,053
• Est. tax owed @ 24.0%: −$1,693
• After-tax cash flow: $7,134/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 — Lecanto

• Score: 64/100
• State rank: #680
• US rank: #14112

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: Lecanto, FL
• County: Citrus County · 111,314 people
• City population: 13,377
• Metro: Homosassa Springs, FL
• Population (ZIP): 13,377
• Household income: $63,418
• Rent vs Own: 10.7% rent · 89.3% own
• Severe rent burden: 41.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 7% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -29.48%
• Current HPI: 258.0866
• 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

+125.0% since first listed

15 events — show timeline

• 2026-03-31 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-13 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-01-05 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-06 Rental Removed $1,500 STELLARMLS
• 2025-11-21 Price Changed $1,500 STELLARMLS
• 2025-07-27 Listed for Rent $1,700 STELLARMLS
• 2022-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-06-02 Listed $170,000 Stellar MLS as Distributed by MLS Grid
• 2021-11-15 Sold (Public Records) $60,000 Public Records
• 2021-11-15 Sold (MLS) $60,000 Stellar MLS as Distributed by MLS Grid
• 2021-11-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-10-11 Listed $80,000 Stellar MLS as Distributed by MLS Grid
• 2005-08-16 Sold (Public Records) $60,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $1,281 · +9.2% YoY. Source: county tax records.