5360 S Elm Ave · Homosassa, FL 34448

$169,900

3 bd · 2.0 ba · 1,320 sqft · SingleFamily public records · 246 Days on market

Built 1965 0.30 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Short Sale. Charming 3 bed, 2 bath ranch-style home situated on a spacious lot in the heart of Homosassa. The property was flooded during a 2024 hurricane but was quickly gutted, and a full remodel was started. Many cosmetic upgrades have already been completed, however, the renovation is not yet finished, offering a great opportunity for someone to add their final touches. The home is on septic and county water, with no HOA or deed restrictions. Just minutes from the Homosassa River, this property has excellent potential as a short-term rental on Airbnb or VRBO.

Key facts

• Full remodel started
• Spacious lot
• No hoa

Tags

• SPACIOUS LOT
• FULL REMODEL STARTED
• COSMETIC UPGRADES COMPLETED
• NO HOA
• NO DEED RESTRICTIONS
• MINUTES FROM HOMOSASSA RIVER

Property features AI

Finance

• Other: Approximately 0.3 acre lot (about 1/4 to less than 1/2 acre)

Exterior

• Parking: Paved road access
• Utilities: Public water; Septic tank sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single-family residence; One level; Faces east
• Construction: Vinyl siding on frame construction; Metal roof; Slab foundation; Built on one level
• Exterior features: Covered, enclosed and screened rear patio/porch; Patio; Rear porch

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Open floorplan
• Laundry & utility: Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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.
• Zoned schools: Homosassa Elementary School (math 62% / reading 47%, grade C, #892 of 2,144 statewide, top 44%, 411 students, 78% 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: 311 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).

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 $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $49k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $170k implies a 172% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.66% ✓
• Cap rate: 13.89%
• Cash-on-cash: 27.12%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $51,480
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10840 W Palmetto St	0.65mi	3/1.0	1,282 (-3%)	7mo	$50,000	$39	55

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: 7.6%
• Equity multiple: 1.30×
• Total profit: $14,082
• Equity at exit: $25,333

10-year hold

• IRR: 17.0%
• Equity multiple: 2.40×
• Total profit: $66,665
• Equity at exit: $14,690

Cash invested: $47,572 (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: 311
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,828 high
• Mortgage (P&I): −$891
• Tax from tax record: −$197 /mo · $2,365/yr
• Insurance: −$71
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $649

Break-even live

Break-even rent $2,007

Max offer price $169,900

Occupancy floor 72%

Sensitivity live

Price	-10% $745	-5% $697	+0% $649	+5% $601	+10% $553
Rent	-10% $425	-5% $537	+0% $649	+5% $760	+10% $872
Rate	-1.0pp $734	-0.5pp $692	base $649	+0.5pp $605	+1.0pp $560

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5111 S Gray Pelican Way Unit 5111 Homosassa, FL	2.0	2.0	1543	$3,200	$2.07	23d	1	0.94mi
11445 W Riverhaven Dr Homosassa, FL	2.0	2.0	1493	$2,900	$1.94	23d	1	1.20mi
11459 W Riverhaven Dr Homosassa, FL	2.0	2.0	1699	$3,000	$1.77	23d	1	1.22mi
11481 W Riverhaven Dr Homosassa, FL	2.0	2.0	1149	$3,000	$2.61	23d	1	1.23mi
5230 S View Pt Homosassa, FL	2.0	2.0	1149	$2,800	$2.44	23d	1	1.27mi
11643 W Riverhaven Dr Homosassa, FL	3.0	2.5	1821	$2,900	$1.59	23d	1	1.43mi

Listing history 43 events

1. 2026-06-21
   days on market $169,900 Active 246 DOM
2. 2026-06-19
   days on market $169,900 Active 244 DOM
3. 2026-06-18
   days on market $169,900 Active 243 DOM
4. 2026-06-17
   days on market $169,900 Active 242 DOM
5. 2026-06-16
   days on market $169,900 Active 241 DOM
6. 2026-06-15
   days on market $169,900 Active 240 DOM
7. 2026-06-14
   days on market $169,900 Active 238 DOM
8. 2026-06-13
   days on market $169,900 Active 237 DOM
9. 2026-06-09
   days on market $169,900 Active 234 DOM
10. 2026-06-08
    days on market $169,900 Active 233 DOM
11. 2026-06-03
    days on market $169,900 Active 228 DOM
12. 2026-06-02
    days on market $169,900 Active 227 DOM
13. 2026-06-01
    days on market $169,900 Active 226 DOM
14. 2026-05-31
    days on market $169,900 Active 225 DOM
15. 2026-05-30
    days on market $169,900 Active 224 DOM
16. 2026-05-19
    price $169,900
17. 2026-01-27
    price $179,900
18. 2026-01-07
    status Active
19. 2025-09-08
    price $209,900
20. 2025-08-13
    price $218,500
21. 2025-07-31
    listed $219,000 Active
22. 2024-09-06
    historical
23. 2024-08-21
    price $229,900
24. 2024-08-21
    price $229,900
25. 2024-08-01
    price $239,900
26. 2024-08-01
    price $239,900
27. 2024-07-29
    listed $249,000 Active
28. 2024-07-11
    price $249,000
29. 2024-06-14
    price $259,000
30. 2024-04-14
    historical
31. 2024-04-03
    price $269,000
32. 2024-04-03
    price $269,000
33. 2024-03-21
    price $279,000
34. 2024-03-21
    price $279,000
35. 2024-02-02
    price $289,000
36. 2024-01-18
    listed $299,000 Active
37. 2019-09-25
    historical
38. 2019-08-07
    listed $144,900
39. 2019-04-24
    soldstatus $62,500
40. 2010-03-17
    soldstatus $72,000
41. 2010-03-03
    soldstatus $72,000
42. 2010-01-12
    listed $78,500
43. 2005-06-17
    soldstatus $45,000

ⓘ 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: $2,365 · $197/mo
• Projected year-2 tax: $2,365 · $197/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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°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: $33,936
• − Mortgage interest: −$9,517
• − Property taxes: −$2,365
• − Insurance: −$5,968
• − Repairs & maintenance: −$2,715
• − Management: −$2,715
• − Depreciation: −$4,943
• Taxable income: $5,714
• Est. tax owed @ 24.0%: −$1,371
• After-tax cash flow: $6,413/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

+277.6% since first listed

28 events — show timeline

• 2026-05-19 Price Changed $169,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-27 Price Changed $179,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-09-08 Price Changed $209,900 Stellar MLS as Distributed by MLS Grid
• 2025-08-13 Price Changed $218,500 Stellar MLS as Distributed by MLS Grid
• 2025-07-31 Listed $219,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-08-21 Price Changed $229,900 RACC
• 2024-08-21 Price Changed $229,900 Stellar MLS as Distributed by MLS Grid
• 2024-08-01 Price Changed $239,900 RACC
• 2024-08-01 Price Changed $239,900 Stellar MLS as Distributed by MLS Grid
• 2024-07-29 Listed $249,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-11 Price Changed $249,000 RACC
• 2024-06-14 Price Changed $259,000 RACC
• 2024-04-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-04-03 Price Changed $269,000 RACC
• 2024-04-03 Price Changed $269,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-21 Price Changed $279,000 RACC
• 2024-03-21 Price Changed $279,000 Stellar MLS as Distributed by MLS Grid
• 2024-02-02 Price Changed $289,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-18 Listed $299,000 Stellar MLS as Distributed by MLS Grid
• 2019-09-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-08-07 Listed $144,900 Stellar MLS as Distributed by MLS Grid
• 2019-04-24 Sold (Public Records) $62,500 Public Records
• 2010-03-17 Sold (Public Records) $72,000 Public Records
• 2010-03-03 Sold (MLS) $72,000 RACC
• 2010-01-12 Listed $78,500 RACC
• 2005-06-17 Sold (Public Records) $45,000 Public Records

Property tax history

+15.5%/yr

Latest (2025): $2,365 · -2.5% YoY. Source: county tax records.