2040 NW 13th Ave · Crystal River, FL 34428

$175,000

3 bd · 2.0 ba · 1,976 sqft · SingleFamily public records · 13 Days on market

Built 1974 0.51 ac lot

---

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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great Opportunity in Crystal River! 3BR/2BA Flood-Damaged Home Ready for renovations. Located in a desirable Crystal River area near the river. Property has experienced flooding and requires repairs. If you are an investors, contractors, or buyers seeking a renovation project, this is the one for you. Features include a detached 22x39 garage with tall ceilings and a roll-up door, offering excellent workspace or storage potential. Additional features include a split floor plan, fenced yard, filled-in pool, existing hot tub (condition unknown), and a wood-burning freestanding stove. A roof-mounted solar system is present but not operational. Property is being sold AS-IS. Utilities will not be

Key facts

• Fenced yard
• Wood-burning stove
• Detached garage

Tags

• DETACHED GARAGE
• FENCED YARD
• WOOD-BURNING STOVE
• ROOF-MOUNTED SOLAR SYSTEM

Property features AI

Finance

• HOA & community: Community includes nearby restaurant

Exterior

• Parking: Detached 2-car garage; Circular driveway; Concrete driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 1 story
• Construction: Built with block and concrete; Block and slab foundation; Asphalt shingle roof
• Exterior features: Chain link fencing; Level lot; Paved city street frontage; Publicly maintained road; Garage(s) structure present

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Refrigerator
• Bedrooms: Master downstairs
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Laminate counters; Master suite on main level; Drapes and window treatments; Wood-burning fireplace
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 12.4% vs local median 2.1% in Crystal River — 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 66/100 on livability (#603 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living 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: Crystal River Primary School (math 45% / reading 55%, grade D+, #1,070 of 2,144 statewide, top 51%, 654 students, 70% FRL); Crystal River Middle School (math 49% / reading 47%, grade C-, #286 of 571 statewide, top 50%, 900 students, 64% FRL); Crystal River High School (math 31% / reading 44%, grade F, #336 of 667 statewide, top 51%, 1,249 students, 56% FRL).
• Market conditions: 320 active listings in the ZIP; 4 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 $2,447/mo this rent would consume 58% of the median local household income ($51k/yr) (locally 264% 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $65k; list at $175k implies a 169% 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 $175,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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: 1.40% ✓
• Cap rate: 12.43%
• Cash-on-cash: 21.90%
• DSCR: 1.97
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $549,328
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2040 NW 13th Ave	0.00mi	3/2.0	1,976 (0%)	1mo	$125,000	$63	99
3831 N Ringdove Pt	0.17mi	3/2.5	1,875 (-5%)	8mo	$600,000	$320	74
4060 & 4072 N Little Hawk Pt	0.43mi	3/2.5	1,969 (-0%)	9mo	$166,000	$84	70
1851 NW 18th St	0.62mi	3/2.5	1,992 (+1%)	0mo	$575,000	$289	68
4030 N Sun Dance Pt	0.44mi	3/2.0	1,803 (-9%)	7mo	$302,500	$168	59
3926 N Eagle Pt	0.31mi	3/2.0	1,714 (-13%)	6mo	$575,000	$335	58
3850 N Nokomis Pt	0.32mi	3/2.0	2,194 (+11%)	15mo	$350,000	$160	54
1860 NW 16th St	0.72mi	3/2.0	1,920 (-3%)	9mo	$610,000	$318	54
1930 NW 18th St	0.69mi	3/2.0	2,048 (+4%)	11mo	$1,035,000	$505	53
11124 W Thoreau Pl	0.70mi	3/2.0	1,757 (-11%)	9mo	$330,000	$188	42
1758 NW 17th Ct	0.56mi	3/2.0	1,800 (-9%)	23mo	$500,000	$278	40
1750 NW 17th Ct	0.59mi	3/2.0	1,728 (-13%)	21mo	$445,000	$258	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: 0.9%
• Equity multiple: 1.03×
• Total profit: $1,637
• Equity at exit: $26,093

10-year hold

• IRR: 10.6%
• Equity multiple: 1.83×
• Total profit: $40,587
• 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 34428

• Home prices YoY: -15.3%
• Active inventory: 320
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,447 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$48 /mo · $573/yr
• Insurance: −$73
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $468

Break-even live

Break-even rent $1,854

Max offer price $175,000

Occupancy floor 76%

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: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1701 NW 22nd St Crystal River, FL	3.0	2.0	1537	$2,100	$1.37	21d	1	0.34mi
10785 W Spring Cir Crystal River, FL	3.0	2.0	1344	$1,600	$1.19	21d	1	0.42mi
10906 W Cove Harbor Dr Crystal River, FL	2.0	2.0	1409	$2,950	$2.09	21d	1	0.43mi
373 NW 14th Pl Crystal River, FL	2.0	2.0	1422	$3,000	$2.11	21d	1	1.31mi

Listing history 8 events

1. 2026-05-03
   status Pending
2. 2026-04-23
   status Active
3. 2026-04-16
   status Pending
4. 2026-04-13
   listed $175,000 Active
5. 1995-11-01
   soldstatus $65,000
6. 1983-06-01
   soldstatus $79,500
7. 1980-11-01
   soldstatus $55,000
8. 1978-08-01
   soldstatus $37,700

ⓘ 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: $573 · $48/mo
• Projected year-2 tax: $1,452 · $121/mo
• Expected delta: +$879/yr (+$73/mo · 153.4%)

ⓘ 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: $29,360
• − Mortgage interest: −$9,803
• − Property taxes: −$573
• − Insurance: −$5,994
• − Repairs & maintenance: −$2,349
• − Management: −$2,349
• − Depreciation: −$5,091
• Taxable income: $3,202
• Est. tax owed @ 24.0%: −$768
• After-tax cash flow: $4,846/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 — Crystal River

• Score: 66/100
• State rank: #603
• US rank: #11564

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crystal River, FL
• County: Citrus County · 111,314 people
• City population: 10,163
• Metro: Homosassa Springs, FL
• Population (ZIP): 10,163
• Household income: $50,779
• Rent vs Own: 22.8% rent · 77.2% own
• Severe rent burden: 264.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 5% · Canada, Jamaica, South Korea
• Languages at home: 96% 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: ▼ -57.32%
• Current HPI: 317.7637
• 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

+364.2% since first listed

8 events — show timeline

• 2026-05-03 Pending — RACC
• 2026-04-23 Relisted — RACC
• 2026-04-16 Pending — RACC
• 2026-04-13 Listed $175,000 RACC
• 1995-11-01 Sold (Public Records) $65,000 Public Records
• 1983-06-01 Sold (Public Records) $79,500 Public Records
• 1980-11-01 Sold (Public Records) $55,000 Public Records
• 1978-08-01 Sold (Public Records) $37,700 Public Records

Property tax history

-1.5%/yr

Latest (2025): $573 · +4.7% YoY. Source: county tax records.