7229 W Lincoln Ln · Homosassa Springs, FL 34448

$194,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 2 Days on market

Built 1987 0.88 ac lot Est $180k · 8% over

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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 +21.4/30.0
• DSCR +6.8/10.0
• 1% rule +5.2/10.0
• Schools +4.1/10.0
• ARV discount +3.9/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CONVENIENT LOCATION - CLOSE TO TOWN - VERY NICE AND BEAUTIFULLY MAINTAINED REDMAN MH ON JUST UNDER AN ACRE. BEING SOLD FURNISHED, AND INCLUDES ALL APPLIANCES. OPEN AND BRIGHT WITH LOTS OF STORAGE AND 2 WALK-IN CLOSETS, PANTRY AND BREAKFAST BAR, CEILING FANS AND LIGHTS THRUOUT. LARGE CARPORT - 13 X 39. VERY PRIVATE BACK YARD WITH 2 SHED/WORKSHOPS - BOTH WITH POWER - 8 X 12 AND 8 X 10. OUTDOOR PATIO AND DOG PEN. VERY NICE PROPERTY - MOVE-IN CONDITION. BEING SOLD AS-IS.

Key facts

• Split-bedroom layout
• Covered carport
• Vaulted ceilings

Tags

• BRIGHT OPEN FLOOR PLAN
• VAULTED CEILINGS
• SPLIT-BEDROOM LAYOUT
• COVERED CARPORT
• TWO SEPARATE STORAGE SHEDS
• WELL WATER

Property features AI

Finance

• Other: Unfurnished; No home warranty; Use GPS for directions
• HOA & community: No association

Exterior

• Parking: Carport with 1 space
• Utilities: Well water; Septic tank; Cable connected; Electricity connected
• Home design: Modular residential home; One story; South-facing
• Construction: Frame construction; Shingle roof; Crawlspace foundation; Built area about 1,248 (public records)
• Exterior features: Rain gutters; Storage space; Paved road access; Approximately 0.88-acre lot (0.5 to less than 1 acre)

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms (one-level home)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; High ceilings; Living room / dining room combo; Open floorplan; Split bedroom layout; Thermostat; Walk-in closets
• Laundry & utility: Washer and dryer included; Inside laundry; Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $194k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $194k).
• Cap rate 8.1% 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-, schools F, 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.
• 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 $1,970/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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y 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 $121k; list at $194k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe 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 $194,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.02% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.32%
• DSCR: 1.28
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $179,712
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7115 W Grant St	0.19mi	3/2.0	1,296 (+4%)	3mo	$145,000	$112	82
6781 W Grant St	0.48mi	3/2.0	1,294 (+4%)	3mo	$186,000	$144	69
7038 W Jackson Ln	0.32mi	3/2.0	1,296 (+4%)	19mo	$172,000	$133	63
7059 W Jackson Ln	0.28mi	2/2.0 (-1)	1,204 (-4%)	18mo	$199,000	$165	61
7640 W Springtime Ln	0.73mi	3/2.0	1,232 (-1%)	11mo	$189,000	$153	54
6904 W Ray Ct	0.53mi	4/2.0 (+1)	1,272 (+2%)	17mo	$85,000	$67	53
3524 S Westmoreland Dr	0.63mi	3/2.0	1,352 (+8%)	5mo	$195,000	$144	53
7799 W Fern Pl	0.68mi	3/2.0	1,344 (+8%)	7mo	$80,000	$60	50
6594 W Grant St	0.66mi	3/2.0	1,152 (-8%)	9mo	$184,000	$160	49
2840 S Pine Ridge Ave	0.66mi	3/2.0	1,404 (+12%)	3mo	$167,500	$119	46
3360 S Arundel Ter	0.50mi	2/1.5 (-1)	1,104 (-12%)	17mo	$75,000	$68	36
6910 W Rosedale Dr	0.73mi	3/2.0	1,420 (+14%)	11mo	$259,900	$183	34

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-17,426
• Equity at exit: $28,926

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $2,943
• Equity at exit: $16,774

Cash invested: $54,320 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,970 medium
• Mortgage (P&I): −$1,017
• Tax from tax record: −$172 /mo · $2,065/yr
• Insurance: −$81
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $220

Break-even live

Break-even rent $1,692

Max offer price $194,000

Occupancy floor 84%

Sensitivity live

Price	-10% $329	-5% $274	+0% $220	+5% $165	+10% $110
Rent	-10% $64	-5% $142	+0% $220	+5% $297	+10% $375
Rate	-1.0pp $317	-0.5pp $269	base $220	+0.5pp $169	+1.0pp $118

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: $48,500
• Closing costs: $5,820
• 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	22d	1	1.14mi

Listing history 12 events

1. 2026-05-03
   status Pending
2. 2026-04-30
   listed $194,000 Active
3. 2024-04-18
   historical $1,750
4. 2024-04-10
   price $1,750
5. 2024-03-18
   listed $1,800
6. 2021-04-15
   soldstatus $121,300
7. 2013-08-19
   soldstatus $50,500
8. 2013-08-16
   soldstatus $50,500 473-char remark

   Show marketing remark (473 chars)

   CONVENIENT LOCATION - CLOSE TO TOWN - VERY NICE AND BEAUTIFULLY MAINTAINED REDMAN MH ON JUST UNDER AN ACRE. BEING SOLD FURNISHED, AND INCLUDES ALL APPLIANCES. OPEN AND BRIGHT WITH LOTS OF STORAGE AND 2 WALK-IN CLOSETS, PANTRY AND BREAKFAST BAR, CEILING FANS AND LIGHTS THRUOUT. LARGE CARPORT - 13 X 39. VERY PRIVATE BACK YARD WITH 2 SHED/WORKSHOPS - BOTH WITH POWER - 8 X 12 AND 8 X 10. OUTDOOR PATIO AND DOG PEN. VERY NICE PROPERTY - MOVE-IN CONDITION. BEING SOLD AS-IS.

9. 2013-06-15
   listed $58,900 473-char remark

   Show marketing remark (473 chars)

   CONVENIENT LOCATION - CLOSE TO TOWN - VERY NICE AND BEAUTIFULLY MAINTAINED REDMAN MH ON JUST UNDER AN ACRE. BEING SOLD FURNISHED, AND INCLUDES ALL APPLIANCES. OPEN AND BRIGHT WITH LOTS OF STORAGE AND 2 WALK-IN CLOSETS, PANTRY AND BREAKFAST BAR, CEILING FANS AND LIGHTS THRUOUT. LARGE CARPORT - 13 X 39. VERY PRIVATE BACK YARD WITH 2 SHED/WORKSHOPS - BOTH WITH POWER - 8 X 12 AND 8 X 10. OUTDOOR PATIO AND DOG PEN. VERY NICE PROPERTY - MOVE-IN CONDITION. BEING SOLD AS-IS.

10. 2010-04-12
    soldstatus $40,000
11. 2010-03-29
    soldstatus $40,000 326-char remark

    Show marketing remark (326 chars)

    Well maintained by original owners 3 bedroom, 2 bath doublewide. Vaulted ceilings, split floorplan. Lots of windows - light & bright. 2 deep carport. 10 x 14 utility building with electric. Grounds lovingly cared for by Mrs. Greenthumb. Partially fenced & room for a pool. Come & see today. BRING ALL OFFERS.

12. 2010-01-04
    listed $54,000 326-char remark

    Show marketing remark (326 chars)

    Well maintained by original owners 3 bedroom, 2 bath doublewide. Vaulted ceilings, split floorplan. Lots of windows - light & bright. 2 deep carport. 10 x 14 utility building with electric. Grounds lovingly cared for by Mrs. Greenthumb. Partially fenced & room for a pool. Come & see today. BRING ALL OFFERS.

ⓘ 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: $2,065 · $172/mo
• Projected year-2 tax: $2,065 · $172/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 9/10 Extreme FEMA zone X (shaded) · 99% 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: $23,640
• − Mortgage interest: −$10,867
• − Property taxes: −$2,065
• − Insurance: −$1,768
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$5,644
• Taxable loss: −$486
• Est. tax savings @ 24.0%: +$117
• After-tax cash flow: $2,751/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

+259.3% since first listed

12 events — show timeline

• 2026-05-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-30 Listed $194,000 Stellar MLS as Distributed by MLS Grid
• 2024-04-18 Rental Removed $1,750 RACC
• 2024-04-10 Price Changed $1,750 RACC
• 2024-03-18 Listed for Rent $1,800 RACC
• 2021-04-15 Sold (Public Records) $121,300 Public Records
• 2013-08-19 Sold (Public Records) $50,500 Public Records
• 2013-08-16 Sold (MLS) $50,500 RACC
• 2013-06-15 Listed $58,900 RACC
• 2010-04-12 Sold (Public Records) $40,000 Public Records
• 2010-03-29 Sold (MLS) $40,000 RACC
• 2010-01-04 Listed $54,000 RACC

Property tax history

+20.9%/yr

Latest (2025): $2,065 · +12.4% YoY. Source: county tax records.