Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Copied
Photo
Copied
Photo
Photo
Photo
Photo
See all photos

$600,000

For Sale - Active
7480 S Hobbs Pt, Lecanto, FL 34461
4 Beds
3 Baths
3,474 Square Feet
1.90 Acres Lot
Built in 1988
For Sale - Active
Units n/a
Checked: 22 hours ago
Updated: Jun 05, 2025 at 03:43AM

Investment Summary


Monthly Cash Flow
-$877
Cap Rate
4.5%
Cash-on-Cash Return
-7.6%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-3.4%

Property Description


1.90 Acres Lot
Built in 1988
For Sale - Active
Units n/a

Motivated Seller *** Amazing opportunity for you to acquire a 4062 sqft, four bed room, three bath, two truck garage home on two acres, with no deed restrictions or HOA is at the end of a dead end road and is backed up against the Citrus Wildlife Management Area which is national forest. This means no one will ever build behind you, ever. Some of the majestic wildlife seen over the years has been owls, turkeys, deer right in the yard. The foundation of the home is stem wall with concrete floors The walls are CBS block and stucco. The roof was done in 10/2016. One HVAC is original but hardly used and tested seasonally throughout the year, while the other is much newer, both work great. The well is 300ft deep with a new pump, so you will never need a water softener or a purifier for your drinking water. All the appliances stay except the freezers, the stove, dryer and water heater and pool heater are gas. There is so much more to this home. There area four fixes. The floors need new flooring and the walls need paint. What can I say, carpet gets ruined and tiles get broken over 35 years. The balcony needs to be finished in the master's suite. The pool has a leak. This is a true Mansion. Citrus county is home of near 30 springs which attracts the largest manatee population in North America. This is also the breeding grounds for the illusive Snook and Red Drum. With the new Suncoast Expressway five minutes away, you can be in Tampa for the game or to catch a plane in 45 minutes. More photos and Videos are on the way!

Build Your Team


Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.

Agents

Match with investor-friendly agents who can help you find, analyze, and close your next deal

Find an Agent

Lenders

Get the best funding…find investor-friendly lenders who specialize in your deal strategy

Find a Lender

Property Managers

Transition to passive investing. Find a trusted property management partnership that lasts.

Find a Property Manager

Tax Pros & Accountants

Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more

Find a Tax Pro

Location


Property Details


Parking

  • Description: Driveway, Garage Faces Side, Guest, Open, Oversized, Parking Pad, Under Building, Workshop in Garage
  • Details: Driveway, Garage Faces Side, Guest, Open, Oversized, Parking Pad, Basement, Workshop in Garage, Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 11
  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Gable
  • Roof Material: Shingle
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 18E20S111A11000B.5
  • Lot Size: 82742 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Tudor
  • Year Built: 1988

Tax Information

  • Annual Tax: $1,796

Utilities

  • Water & Sewer: Private, Well
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Citrus

Listing Details


Listed by:
John Burke
SUNCOAST MANSIONS LLC
(305) 796-9906

Source:
Stellar MLS
MLS#: OM685418
Stellar MLS

Investment Summary


Monthly Cash Flow
-$877
Cap Rate
4.5%
Cash-on-Cash Return
-7.6%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-3.4%

Purchase Details

Find an Agent

Purchase price:
$600,000
Amount financed:
-$480,000
Down payment:
$120,000
Closing costs:
$18,000
Rehab costs:
$0
Initial cash invested:
$138,000
Square feet:
3,474
Cost per square foot:
$173
Monthly rent per square foot:
$1.01

Financing Details

Find a Lender

Loan amount:
$480,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$3,142
Property tax:
$150
Insurance:
$245
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,537

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$3,500 $42,000
Vacancy loss: (6%)
6% -$210 -$2,520
Operating income:
$3,290 $39,480

Operating Expenses


% Rent Monthly Yearly
Property taxes: (4%)
4%-$150-$1,796
Insurance: (7%)
7%-$245-$2,940
Property management: (8%)
8%-$280-$3,360
Repairs & maintenance: (5%)
5%-$175-$2,100
Capital expenditures: (5%)
5%-$175-$2,100
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (29%)
29%-$1,025-$12,296

Cash Flow


Monthly Yearly
Net operating income:
$2,265 $27,180
Mortgage payments:
-$3,142 -$37,704
Cash flow:
$877 $10,524