1672 S Canary Ter · Inverness, FL 34450

$70,000

2 bd · 1.0 ba · 976 sqft · Manufactured public records · 160 Days on market

Built 1972 7,124 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

USE EXTREME CAUTION-this mobile home presents a challenge but the location is incredible! Located on a serene, dead-end street just off CR44;short walk from the Inverness lakes. Public boat ramp is 2 miles away. Great neighbors with pride in their gardens. Surrounded by lovely homes. Yard is spacious; partial fence. Carport is in fair condition and makes an ideal cover for your boat. VIEW FROM FRONT DOOR. Do not walk inside due to weak floors and poss. mold. SOLD "AS IS". Owner finance available.

Key facts

• Open green space
• Storage shed
• Room for rv parking

Tags

• OPEN GREEN SPACE
• QUIET DEAD-END STREET
• STORAGE SHED
• ROOM FOR RV PARKING
• ROOM FOR TRUCK PARKING
• ROOM FOR EXTRA VEHICLE PARKING

Property features AI

Exterior

• Parking: Attached carport; Driveway (paved); 1 parking space
• Utilities: Private well water; Septic tank sewer
• Home design: Manufactured home (single wide); Residential property
• Construction: Metal roof
• Exterior features: Deck; Rectangular lot; County road frontage

Interior

• Kitchen: Electric cooktop
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Wall/window air conditioning units
• Interior features: Electric cooktop; Carpet and laminate flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $768 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.5% vs local median 4.9% in Inverness — 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 67/100 on livability (#564 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety 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: Inverness Primary School (math 54% / reading 55%, grade C, #892 of 2,144 statewide, top 44%, 683 students, 65% FRL); Inverness Middle School (math 52% / reading 48%, grade C, #254 of 571 statewide, top 45%, 1,017 students, 60% FRL); Citrus High School (math 34% / reading 51%, grade F, #264 of 667 statewide, top 41%, 1,503 students, 54% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 210 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $30k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $70k implies a 289% 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 $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 2.24% ✓
• Cap rate: 19.47%
• Cash-on-cash: 47.05%
• DSCR: 3.09
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 44.4%
• Equity multiple: 2.92×
• Total profit: $37,614
• Equity at exit: $10,437

10-year hold

• IRR: 50.3%
• Equity multiple: 5.89×
• Total profit: $95,833
• Equity at exit: $6,052

Cash invested: $19,600 (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 34450

• Home prices YoY: -18.7%
• Active inventory: 210
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,566 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$73 /mo · $870/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $768

Break-even live

Break-even rent $593

Max offer price $70,000

Occupancy floor 46%

Sensitivity live

Price	-10% $808	-5% $788	+0% $768	+5% $749	+10% $729
Rent	-10% $645	-5% $707	+0% $768	+5% $830	+10% $892
Rate	-1.0pp $804	-0.5pp $786	base $768	+0.5pp $750	+1.0pp $732

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $70,000 Active 160 DOM
2. 2026-06-19
   days on market $70,000 Active 158 DOM
3. 2026-06-18
   days on market $70,000 Active 157 DOM
4. 2026-06-17
   days on market $70,000 Active 156 DOM
5. 2026-06-16
   days on market $70,000 Active 155 DOM
6. 2026-06-15
   days on market $70,000 Active 154 DOM
7. 2026-06-14
   days on market $70,000 Active 152 DOM
8. 2026-06-13
   days on market $70,000 Active 151 DOM
9. 2026-06-09
   days on market $70,000 Active 148 DOM
10. 2026-06-08
    days on market $70,000 Active 147 DOM
11. 2026-06-03
    days on market $70,000 Active 142 DOM
12. 2026-06-02
    days on market $70,000 Active 141 DOM
13. 2026-06-01
    days on market $70,000 Active 140 DOM
14. 2026-05-31
    days on market $70,000 Active 139 DOM
15. 2026-05-30
    days on market $70,000 Active 138 DOM
16. 2026-04-24
    price $80,000
17. 2026-01-13
    listed $99,900 Active
18. 2010-12-03
    soldstatus $18,000 511-char remark

    Show marketing remark (511 chars)

    USE EXTREME CAUTION-this mobile home presents a challenge but the location is incredible! Located on a serene, dead-end street just off CR44;short walk from the Inverness lakes. Public boat ramp is 2 miles away. Great neighbors with pride in their gardens. Surrounded by lovely homes. Yard is spacious; partial fence. Carport is in fair condition and makes an ideal cover for your boat. VIEW FROM FRONT DOOR. Do not walk inside due to weak floors and poss. mold. SOLD "AS IS". Owner finance available.

19. 2010-10-20
    listed $24,900 511-char remark

    Show marketing remark (511 chars)

    USE EXTREME CAUTION-this mobile home presents a challenge but the location is incredible! Located on a serene, dead-end street just off CR44;short walk from the Inverness lakes. Public boat ramp is 2 miles away. Great neighbors with pride in their gardens. Surrounded by lovely homes. Yard is spacious; partial fence. Carport is in fair condition and makes an ideal cover for your boat. VIEW FROM FRONT DOOR. Do not walk inside due to weak floors and poss. mold. SOLD "AS IS". Owner finance available.

ⓘ 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: $870 · $73/mo
• Projected year-2 tax: $870 · $73/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°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: $18,793
• − Mortgage interest: −$3,921
• − Property taxes: −$870
• − Insurance: −$350
• − Repairs & maintenance: −$1,503
• − Management: −$1,503
• − Depreciation: −$2,036
• Taxable income: $8,609
• Est. tax owed @ 24.0%: −$2,066
• After-tax cash flow: $7,155/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 — Inverness

• Score: 67/100
• State rank: #564
• US rank: #10791

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 10,621
• Population (ZIP): 10,408

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 (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 8% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 3% 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: ▼ -72.56%
• Current HPI: 315.9725
• 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

+221.3% since first listed

4 events — show timeline

• 2026-04-24 Price Changed $80,000 RACC
• 2026-01-13 Listed $99,900 RACC
• 2010-12-03 Sold (MLS) $18,000 RACC
• 2010-10-20 Listed $24,900 RACC

Property tax history

+8.0%/yr

Latest (2025): $870 · +11.2% YoY. Source: county tax records.