3232 S Westmoreland Dr · Homosassa Springs, FL 34448

$225,000

3 bd · 2.0 ba · 1,172 sqft · SingleFamily public records · 49 Days on market

Built 1997 0.56 ac lot Est $188k · 20% 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 +18.5/30.0
• DSCR +5.8/10.0
• Schools +4.1/10.0
• 1% rule +3.7/10.0
• 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

One or more photo(s) has been virtually staged. ?In the heart of Homosassa- Welcome to this 2 bed, 2 bath home with a garage offering a spacious layout, originally a 3 bedroom, now thoughtfully converted into a large primary suite and a generously sized second bedroom. Enjoy outdoor living with a large backyard and slab- awesome for entertaining in this Florida weather! Featuring a BRAND NEW 2025 Roof, AC, windows, and updated flooring. This home requires minimal renovations and ready for its next owner! Conveniently located near: - Homosassa Springs Wildlife Park- famous for manatees & wildlife - Close to Homosassa River- great for boaters -Short drive to shopping, groceries, a

Key facts

• Large backyard
• Updated flooring
• Large primary suite

Tags

• LARGE PRIMARY SUITE
• LARGE BACKYARD
• NEW ROOF
• NEW AC
• NEW WINDOWS
• UPDATED FLOORING

Property features AI

Exterior

• Parking: Attached garage with 1 garage space; Paved driveway
• Utilities: Septic tank
• Home design: Single-family residence; One-story
• Construction: Stucco exterior; Block and slab foundation; Asphalt shingle roof; Built as a residential single-family home
• Exterior features: Wooded, level lot; County road frontage; No pool

Interior

• Kitchen: Refrigerator
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Refrigerator included; Carpet and wood flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $149 ($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 $195k (13.4% below list).
• Recommended offer: $195k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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: Rock Crusher Elementary School (math 70% / reading 56%, grade B, #582 of 2,144 statewide, top 28%, 665 students, 68% FRL); Lecanto Middle School (math 49% / reading 49%, grade C-, #265 of 571 statewide, top 48%, 809 students, 55% FRL); Lecanto High School (math 46% / reading 53%, grade D, #179 of 667 statewide, top 29%, 1,630 students, 46% FRL) — zoned schools at 56% FRL track the district average.
• 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 $1,949/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 $2k of loan paydown is wiped out by about $7k 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 49 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $225k implies a 923% 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 $194,883 (13.4% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
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 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: 0.87% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.11%
• DSCR: 1.18
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $187,520
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7229 W Lincoln Ln	0.40mi	3/2.0	1,248 (+6%)	0mo	$194,000	$155	70
7023 W Grant St	0.17mi	2/2.0 (-1)	1,234 (+5%)	11mo	$220,000	$178	69
6621 W Robin Ln	0.66mi	3/2.0	1,172 (0%)	5mo	$230,000	$196	65
3803 S Flamingo Ter	0.69mi	3/2.0	1,172 (0%)	4mo	$187,000	$160	64
6499 W Rosedale Dr	0.50mi	2/2.0 (-1)	1,208 (+3%)	6mo	$260,000	$215	61
7000 W Pershing Dr	0.08mi	2/2.0 (-1)	1,028 (-12%)	15mo	$118,000	$115	58
6704 W Homosassa Trl	0.36mi	2/2.0 (-1)	1,264 (+8%)	15mo	$149,500	$118	52
3402 S Aberdeen Ter	0.39mi	3/2.0	1,080 (-8%)	22mo	$140,000	$130	50
3400 S Anatole Way	0.48mi	3/2.0	1,088 (-7%)	21mo	$245,000	$225	48
7615 Narcissus Ln	0.61mi	2/2.0 (-1)	1,024 (-13%)	7mo	$175,000	$171	40
3803 S Sandpiper Ter	0.66mi	2/2.0 (-1)	996 (-15%)	12mo	$142,500	$143	29

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: -11.9%
• Equity multiple: 0.57×
• Total profit: $-27,027
• Equity at exit: $33,548

10-year hold

• IRR: -2.7%
• Equity multiple: 0.82×
• Total profit: $-11,587
• Equity at exit: $19,454

Cash invested: $63,000 (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 34448

• Home prices YoY: -26.1%
• Active inventory: 307
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,949 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$50 /mo · $602/yr
• Insurance: −$94
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $149

Break-even live

Break-even rent $1,760

Max offer price $225,000

Occupancy floor 87%

Sensitivity live

Price	-10% $277	-5% $213	+0% $149	+5% $86	+10% $22
Rent	-10% $-5	-5% $72	+0% $149	+5% $226	+10% $303
Rate	-1.0pp $263	-0.5pp $206	base $149	+0.5pp $91	+1.0pp $32

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: $56,250
• Closing costs: $6,750
• 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	21d	1	0.72mi

Listing history 17 events

1. 2026-06-19
   days on market $225,000 Active 49 DOM
2. 2026-06-18
   days on market $225,000 Active 48 DOM
3. 2026-06-17
   days on market $225,000 Active 47 DOM
4. 2026-06-16
   days on market $225,000 Active 46 DOM
5. 2026-06-15
   days on market $225,000 Active 45 DOM
6. 2026-06-14
   days on market $225,000 Active 43 DOM
7. 2026-06-13
   days on market $225,000 Active 42 DOM
8. 2026-06-09
   days on market $225,000 Active 39 DOM
9. 2026-06-08
   days on market $225,000 Active 38 DOM
10. 2026-06-07
    days on market $225,000 Active 37 DOM
11. 2026-06-03
    days on market $225,000 Active 33 DOM
12. 2026-06-02
    days on market $225,000 Active 32 DOM
13. 2026-06-01
    days on market $225,000 Active 31 DOM
14. 2026-05-31
    days on market $225,000 Active 30 DOM
15. 2026-05-30
    days on market $225,000 Active 29 DOM
16. 2026-05-01
    listed $225,000 Active
17. 1997-01-01
    soldstatus $22,000

ⓘ 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: $602 · $50/mo
• Projected year-2 tax: $1,868 · $156/mo
• Expected delta: +$1,265/yr (+$105/mo · 210.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 96% 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: $23,386
• − Mortgage interest: −$12,603
• − Property taxes: −$602
• − Insurance: −$1,922
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$6,545
• Taxable loss: −$2,030
• Est. tax savings @ 24.0%: +$487
• After-tax cash flow: $2,278/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

+922.7% since first listed

2 events — show timeline

• 2026-05-01 Listed $225,000 RACC
• 1997-01-01 Sold (Public Records) $22,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $602 · +9.9% YoY. Source: county tax records.