4876 S Driftwood Way · Homosassa, FL 34448

$283,000

3 bd · 2.0 ba · 1,584 sqft · SingleFamily public records · 38 Days on market

Built 2007 Est $371k · 24% under

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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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.9/10.0
• Schools +4.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a comfortable place to call home? Look no further than Riverhaven Village in Homosassa, FL. Walking distance to the Homosassa River & amp; marina & amp; boat ramp & amp; waterfront restaurant. Community offers a spacious park and separate RV/boat storage lot. You may enjoy the optional clubhouse membership that offers playground, dog park, large heated pool, numerous social activities, lighted tennis courts, pickleball court, and more. Home has 3 bedrooms, 2 baths, 2 car garage. The neighbors are friendly and the livin& apos; is easy. Call for an appointment today.

Key facts

• Rv boat storage lot
• Spacious park
• Marina

Tags

• MARINA
• BOAT RAMP
• WATERFRONT RESTAURANT
• SPACIOUS PARK
• RV BOAT STORAGE LOT
• OPTIONAL CLUBHOUSE MEMBERSHIP

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $283k.

Deal economics

• At list price, monthly cash flow is $-60 ($-718/yr) — negative.
• To cash-flow at today's rent, offer at most $272k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (0.9% below list).
• Recommended offer: $272k (3.7% below list) — sets the bar for cash-flow.
• Cap rate 7.8% vs local median 1.8% in Homosassa — 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 62/100 on livability (#749 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+; Watch: health & safety C-, employment D+, 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• At $2,805/mo this rent would consume 73% 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 $2k of loan paydown is wiped out by about $8k 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 38 days — a 3% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $178k; list at $283k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $272,426 (3.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.99% ✗
• Cap rate: 7.85%
• Cash-on-cash: 5.55%
• DSCR: 1.25
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $370,656
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11583 W Riverhaven Dr	0.14mi	3/2.5	1,552 (-2%)	1mo	$400,000	$258	88
4951 S Driftwood Way	0.09mi	3/2.0	1,498 (-5%)	10mo	$250,000	$167	78
11830 W Fisherman Ln	0.39mi	3/2.0	1,610 (+2%)	2mo	$299,000	$186	77
11600 W Waterway Dr	0.11mi	2/2.0 (-1)	1,498 (-5%)	6mo	$350,000	$234	75
11511 W Riverhaven Dr	0.17mi	2/2.0 (-1)	1,493 (-6%)	10mo	$220,000	$147	69
11517 W Riverhaven Dr	0.17mi	3/2.0	1,374 (-13%)	1mo	$375,000	$273	69
11464 W Clubview Dr	0.34mi	2/2.0 (-1)	1,493 (-6%)	3mo	$420,000	$281	67
11702 W Fisherman Ln	0.25mi	3/2.0	1,427 (-10%)	8mo	$287,500	$201	65
11673 W Riverhaven Dr	0.18mi	2/2.0 (-1)	1,811 (+14%)	6mo	$405,000	$224	58
5500 S Cedar Mill Path	0.69mi	3/3.0	1,672 (+6%)	5mo	$950,000	$568	51
5264 S Spy Glass Pt	0.56mi	3/2.0	1,758 (+11%)	6mo	$595,000	$338	50
11784 W Timberlane Dr	0.38mi	2/3.0 (-1)	1,392 (-12%)	8mo	$270,000	$194	46

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: -17.7%
• Equity multiple: 0.38×
• Total profit: $-49,432
• Equity at exit: $42,196

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-46,983
• Equity at exit: $24,469

Cash invested: $79,240 (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: 8.4×

Monthly cashflow live

• Estimated rent: $2,805 high
• Mortgage (P&I): −$1,484
• Tax from tax record: −$247 /mo · $2,963/yr
• Insurance: −$118
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $-60

Break-even live

Break-even rent $2,880

Max offer price $272,426

Occupancy floor 97%

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: $70,750
• Closing costs: $8,490
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11639 W Riverhaven Dr Homosassa, FL	3.0	2.0	1925	$2,900	$1.51	21d	1	0.14mi
11643 W Riverhaven Dr Homosassa, FL	3.0	2.5	1821	$2,900	$1.59	21d	1	0.14mi
11481 W Riverhaven Dr Homosassa, FL	2.0	2.0	1149	$3,000	$2.61	21d	1	0.18mi
11459 W Riverhaven Dr Homosassa, FL	2.0	2.0	1699	$3,000	$1.77	21d	1	0.19mi
11445 W Riverhaven Dr Homosassa, FL	2.0	2.0	1493	$2,900	$1.94	21d	1	0.20mi
5230 S View Pt Homosassa, FL	2.0	2.0	1149	$2,800	$2.44	21d	1	0.36mi
5111 S Gray Pelican Way Unit 5111 Homosassa, FL	2.0	2.0	1543	$3,200	$2.07	21d	1	0.40mi

Listing history 18 events

1. 2026-06-19
   days on market $283,000 Active 38 DOM
2. 2026-06-18
   days on market $283,000 Active 37 DOM
3. 2026-06-17
   days on market $283,000 Active 36 DOM
4. 2026-06-16
   days on market $283,000 Active 35 DOM
5. 2026-06-15
   days on market $283,000 Active 34 DOM
6. 2026-06-14
   days on market $283,000 Active 32 DOM
7. 2026-06-13
   days on market $283,000 Active 31 DOM
8. 2026-06-09
   days on market $283,000 Active 28 DOM
9. 2026-06-08
   days on market $283,000 Active 27 DOM
10. 2026-06-03
    days on market $283,000 Active 22 DOM
11. 2026-06-02
    days on market $283,000 Active 21 DOM
12. 2026-06-01
    days on market $283,000 Active 20 DOM
13. 2026-05-31
    days on market $283,000 Active 19 DOM
14. 2026-05-30
    days on market $283,000 Active 18 DOM
15. 2026-05-13
    listed $283,000 Active
16. 2020-10-22
    soldstatus $177,900
17. 1983-05-01
    soldstatus $70,000
18. 1981-11-01
    soldstatus $14,200

ⓘ 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: $2,963 · $247/mo
• Projected year-2 tax: $2,963 · $247/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥110°F today · 26 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: $33,655
• − Mortgage interest: −$15,852
• − Property taxes: −$2,963
• − Insurance: −$6,534
• − Repairs & maintenance: −$2,692
• − Management: −$2,692
• − Depreciation: −$8,233
• Taxable loss: −$5,312
• Est. tax savings @ 24.0%: +$1,275
• After-tax cash flow: $556/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

• Score: 62/100
• State rank: #749
• US rank: #16240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homosassa, FL
• County: Citrus County · 111,314 people
• City population: 29,919
• 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

+1893.0% since first listed

4 events — show timeline

• 2026-05-13 Listed $283,000 FSBO.com
• 2020-10-22 Sold (Public Records) $177,900 Public Records
• 1983-05-01 Sold (Public Records) $70,000 Public Records
• 1981-11-01 Sold (Public Records) $14,200 Public Records

Property tax history

+8.1%/yr

Latest (2025): $2,963 · -27.2% YoY. Source: county tax records.