4350 S Songbird Dr · Homosassa Springs, FL 34461

$175,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 295 Days on market

Built 1999 0.52 ac lot Est $142k · 23% over

---

Why this score? — see what drove the D 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 +18.0/30.0
• DSCR +5.6/10.0
• 1% rule +4.2/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Discover this charming 2-bedroom, 2-bath mobile home nestled on 0.52 acres in the peaceful community of Lecanto, FL. Inside, an open living area flows seamlessly into the dining space and kitchen, creating a warm and inviting atmosphere. New vinyl plank flooring in bathroom and carpet in master bedroom and closet. New paint throughout. Outside, enjoy a spacious yard with a back deck that leads to an open-air patio and a tranquil koi pond—perfect for relaxing or entertaining. 15 x 15 shed (new) and Conex Container stay with property. Conveniently located near local amenities, this property offers the ideal blend of comfort, charm, and convenience.

Key facts

• Spacious yard
• Koi pond
• Back deck

Tags

• SPACIOUS YARD
• BACK DECK
• OPEN AIR PATIO
• KOI POND
• LOCAL AMENITIES

Property features AI

Finance

• Other: Property type: Residential — Manufactured Home; Lot size: approximately 0.52 acre (1/2 to less than 1 acre)
• Financial info: No additional financial details provided
• HOA & community: No HOA or association

Exterior

• Parking: No specific parking details provided
• Security: No security features listed
• Utilities: Well water; Septic tank; Electricity connected; Cable available
• Home design: Residential manufactured home (double wide); One story; Faces southwest; Entry level: One
• Construction: Vinyl siding; Shingle roof; Pillar/post/pier foundation; Built as a double wide manufactured home
• Exterior features: Deck; Patio; Exterior lighting; Rain gutters; Shed(s); Wire and wood fencing; Paved road access; Lot dimensions approximately 150 x 145

Interior

• Kitchen: Dishwasher; Range; Range hood; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room and dining room combo; Split bedroom floorplan; Walk-in closet(s)
• Laundry & utility: Inside laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/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 $161k (7.9% below list).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 5.9% in Homosassa Springs — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 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 30% 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 $1k of loan paydown is wiped out by about $5k 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 295 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $68k; list at $175k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major 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 $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 295 days. Have you received any prior offers? Is the seller open to a 12% 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $142,080
• 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	0.56mi	3/2.0 (+1)	1,080 (+12%)	6mo	$160,000	$148	44

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: -10.5%
• Equity multiple: 0.62×
• Total profit: $-18,802
• Equity at exit: $26,093

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-4,148
• Equity at exit: $15,131

Cash invested: $49,000 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,611 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$132 /mo · $1,581/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $150

Break-even live

Break-even rent $1,421

Max offer price $175,000

Occupancy floor 86%

Sensitivity live

Price	-10% $250	-5% $200	+0% $150	+5% $101	+10% $51
Rent	-10% $23	-5% $87	+0% $150	+5% $214	+10% $278
Rate	-1.0pp $239	-0.5pp $195	base $150	+0.5pp $105	+1.0pp $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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $175,000 Active 295 DOM
2. 2026-06-18
   days on market $175,000 Active 294 DOM
3. 2026-06-17
   days on market $175,000 Active 293 DOM
4. 2026-06-16
   days on market $175,000 Active 292 DOM
5. 2026-06-15
   days on market $175,000 Active 291 DOM
6. 2026-06-14
   days on market $175,000 Active 289 DOM
7. 2026-06-13
   days on market $175,000 Active 288 DOM
8. 2026-06-09
   days on market $175,000 Active 285 DOM
9. 2026-06-08
   days on market $175,000 Active 284 DOM
10. 2026-06-03
    days on market $175,000 Active 279 DOM
11. 2026-06-02
    days on market $175,000 Active 278 DOM
12. 2026-06-01
    days on market $175,000 Active 277 DOM
13. 2026-05-31
    days on market $175,000 Active 276 DOM
14. 2026-05-30
    days on market $175,000 Active 275 DOM
15. 2026-03-15
    status Active
16. 2026-03-06
    status Pending
17. 2026-02-19
    price $175,000
18. 2025-12-30
    price $165,000
19. 2025-12-22
    status Active
20. 2025-12-16
    status Pending
21. 2025-12-12
    price $169,000
22. 2025-08-13
    listed $180,000 Active
23. 2020-02-13
    soldstatus $67,500
24. 2000-03-01
    soldstatus $15,000
25. 1983-03-01
    soldstatus $11,000

ⓘ 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: $1,581 · $132/mo
• Projected year-2 tax: $1,581 · $132/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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 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: $19,335
• − Mortgage interest: −$9,803
• − Property taxes: −$1,581
• − Insurance: −$875
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − Depreciation: −$5,091
• Taxable loss: −$1,108
• Est. tax savings @ 24.0%: +$266
• After-tax cash flow: $2,072/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): 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

+1490.9% since first listed

11 events — show timeline

• 2026-03-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-19 Price Changed $175,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-30 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-22 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-16 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-12-12 Price Changed $169,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-13 Listed $180,000 Stellar MLS as Distributed by MLS Grid
• 2020-02-13 Sold (Public Records) $67,500 Public Records
• 2000-03-01 Sold (Public Records) $15,000 Public Records
• 1983-03-01 Sold (Public Records) $11,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $1,581 · +0.2% YoY. Source: county tax records.