2903 CR 426e · Lake Panasoffkee, FL 33538

$184,900

3 bd · 2.0 ba · 1,352 sqft · Manufactured public records · 5 Days on market

Built 1990 0.62 ac lot Est $183k · at est.

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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 +16.4/30.0
• Appreciation +7.5/10.0
• ARV discount +6.9/15.0
• Schools +5.2/10.0
• DSCR +5.1/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Why not S-P-R-E-A-D-O-U-T with a country feel at a comfortable price? Lots of space in this three bedroom, two bath Homes of Merit doublewide on three lots. Completely fenced with separate dog run area. Two parking areas with double carports. Lots of outbuildings for storage or workshop. Awnings on windows. Wooded lot across street gives privacy. Brand New Roof!!! Newer air-conditioner and hot water heater. Master bath has spacious shower and large oval (garden) tub. Very clean smoke free home. Ready to move in. .. possible turnkey.

Key facts

• Paved road
• Multiple lots
• Detached carports

Tags

• SPLIT FLOORPLAN
• USABLE OUTDOOR SPACE
• HURRICANE SHUTTERS
• DETACHED CARPORTS
• MULTIPLE LOTS
• PAVED ROAD

Property features AI

Finance

• Other: Lot approximately 0.62 acres (about 200 x 120); No waterfront or water access; One septic system
• HOA & community: No association

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Septic tank; Broadband/high-speed internet available; Cable available
• Home design: Manufactured home (double wide); One story; Home faces west; Homestead exempt
• Construction: Metal siding; Metal roof; Crawlspace foundation; Built by Homes of Merit
• Exterior features: Awning(s); In county lot; Oversized lot; Paved lot/driveway

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Eat-in kitchen; Open floorplan; Living room/dining room combo; Split bedroom floorplan; Inside utility
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (14.8% below list).
• Recommended offer: $158k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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; 1 comparable units currently listed for rent nearby; 3,961 units permitted in Sumter County in 2024 (248 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $9k appreciation (5.0% local appreciation)).
• Sumter County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $185k implies a 208% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,500 (14.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.85% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.41%
• DSCR: 1.11
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $182,520
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2890 CR 426e	0.03mi	3/2.0	1,387 (+3%)	3mo	$194,900	$141	92
2634 CR 416n	0.62mi	3/2.0	1,352 (0%)	0mo	$330,000	$244	71
1573 CR 435	0.65mi	2/2.0 (-1)	1,344 (-1%)	10mo	$115,000	$86	55
1467 CR 434	0.64mi	3/2.0	1,248 (-8%)	17mo	$168,000	$135	43
3617 CR 406	0.71mi	2/2.0 (-1)	1,152 (-15%)	4mo	$120,000	$104	34

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: 14.9%
• Equity multiple: 1.95×
• Total profit: $49,056
• Equity at exit: $104,639

10-year hold

• IRR: 15.5%
• Equity multiple: 3.75×
• Total profit: $142,546
• Equity at exit: $180,476

Cash invested: $51,772 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,575 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$93 /mo · $1,121/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $104

Break-even live

Break-even rent $1,443

Max offer price $184,900

Occupancy floor 88%

Sensitivity live

Price	-10% $209	-5% $156	+0% $104	+5% $52	+10% $-1
Rent	-10% $-20	-5% $42	+0% $104	+5% $166	+10% $229
Rate	-1.0pp $197	-0.5pp $151	base $104	+0.5pp $56	+1.0pp $7

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	22d	1	0.98mi

Listing history 9 events

1. 2026-05-22
   status Pending
2. 2026-05-17
   listed $184,900 Active
3. 2016-02-15
   soldstatus $60,000
4. 2016-02-08
   soldstatus $60,000 Sold 538-char remark

   Show marketing remark (538 chars)

   Why not S-P-R-E-A-D-O-U-T with a country feel at a comfortable price? Lots of space in this three bedroom, two bath Homes of Merit doublewide on three lots. Completely fenced with separate dog run area. Two parking areas with double carports. Lots of outbuildings for storage or workshop. Awnings on windows. Wooded lot across street gives privacy. Brand New Roof!!! Newer air-conditioner and hot water heater. Master bath has spacious shower and large oval (garden) tub. Very clean smoke free home. Ready to move in. .. possible turnkey.

5. 2016-01-19
   status Pending 538-char remark

   Show marketing remark (538 chars)

   Why not S-P-R-E-A-D-O-U-T with a country feel at a comfortable price? Lots of space in this three bedroom, two bath Homes of Merit doublewide on three lots. Completely fenced with separate dog run area. Two parking areas with double carports. Lots of outbuildings for storage or workshop. Awnings on windows. Wooded lot across street gives privacy. Brand New Roof!!! Newer air-conditioner and hot water heater. Master bath has spacious shower and large oval (garden) tub. Very clean smoke free home. Ready to move in. .. possible turnkey.

6. 2016-01-06
   status Active 538-char remark

   Show marketing remark (538 chars)

   Why not S-P-R-E-A-D-O-U-T with a country feel at a comfortable price? Lots of space in this three bedroom, two bath Homes of Merit doublewide on three lots. Completely fenced with separate dog run area. Two parking areas with double carports. Lots of outbuildings for storage or workshop. Awnings on windows. Wooded lot across street gives privacy. Brand New Roof!!! Newer air-conditioner and hot water heater. Master bath has spacious shower and large oval (garden) tub. Very clean smoke free home. Ready to move in. .. possible turnkey.

7. 2016-01-06
   status Pending 538-char remark

   Show marketing remark (538 chars)

   Why not S-P-R-E-A-D-O-U-T with a country feel at a comfortable price? Lots of space in this three bedroom, two bath Homes of Merit doublewide on three lots. Completely fenced with separate dog run area. Two parking areas with double carports. Lots of outbuildings for storage or workshop. Awnings on windows. Wooded lot across street gives privacy. Brand New Roof!!! Newer air-conditioner and hot water heater. Master bath has spacious shower and large oval (garden) tub. Very clean smoke free home. Ready to move in. .. possible turnkey.

8. 2015-11-18
   price $64,500 538-char remark

   Show marketing remark (538 chars)

   Why not S-P-R-E-A-D-O-U-T with a country feel at a comfortable price? Lots of space in this three bedroom, two bath Homes of Merit doublewide on three lots. Completely fenced with separate dog run area. Two parking areas with double carports. Lots of outbuildings for storage or workshop. Awnings on windows. Wooded lot across street gives privacy. Brand New Roof!!! Newer air-conditioner and hot water heater. Master bath has spacious shower and large oval (garden) tub. Very clean smoke free home. Ready to move in. .. possible turnkey.

9. 2015-11-14
   listed $64,900 Active 538-char remark

   Show marketing remark (538 chars)

   Why not S-P-R-E-A-D-O-U-T with a country feel at a comfortable price? Lots of space in this three bedroom, two bath Homes of Merit doublewide on three lots. Completely fenced with separate dog run area. Two parking areas with double carports. Lots of outbuildings for storage or workshop. Awnings on windows. Wooded lot across street gives privacy. Brand New Roof!!! Newer air-conditioner and hot water heater. Master bath has spacious shower and large oval (garden) tub. Very clean smoke free home. Ready to move in. .. possible turnkey.

ⓘ 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: $1,121 · $93/mo
• Projected year-2 tax: $1,535 · $128/mo
• Expected delta: +$414/yr (+$34/mo · 36.9%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,900
• − Mortgage interest: −$10,357
• − Property taxes: −$1,121
• − Insurance: −$924
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$5,379
• Taxable loss: −$1,906
• Est. tax savings @ 24.0%: +$457
• After-tax cash flow: $1,707/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

+184.9% since first listed

9 events — show timeline

• 2026-05-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-17 Listed $184,900 Stellar MLS as Distributed by MLS Grid
• 2016-02-15 Sold (Public Records) $60,000 Public Records
• 2016-02-08 Sold (MLS) $60,000 Stellar MLS as Distributed by MLS Grid
• 2016-01-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-01-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2016-01-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-11-18 Price Changed $64,500 Stellar MLS as Distributed by MLS Grid
• 2015-11-14 Listed $64,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+7.6%/yr

Latest (2025): $1,121 · +2.7% YoY. Source: county tax records.