1163 SE 2nd St · Crystal River, FL 34429

$224,900

3 bd · 2.0 ba · 1,511 sqft · SingleFamily public records · 24 Days on market

Built 1974 8,422 sqft lot Est $209k · 8% over

---

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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.5/10.0
• Schools +4.1/10.0
• ARV discount +4.0/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the heart of Crystal River, this beautifully renovated home is full of charm and modern upgrades! Featuring an open-concept floor plan with two spacious living areas, three bedrooms, two bathrooms, and a dedicated laundry/utility room, this property offers comfort, style, and flexibility. The interior has been completely updated in 2023 with luxury vinyl plank flooring throughout, fresh interior paint, and a stunning kitchen featuring brand-new cabinetry, butcher block countertops, stainless steel appliances, farmhouse sink, and classic subway tile backsplash. Additional recent upgrades include a newer roof (approximately 6 years old), brand-new water heater, gutters and downspou

Key facts

• Brand-new cabinetry
• 8,422 sq ft lot
• 2 parking spots

Tags

• OPEN-CONCEPT FLOOR PLAN
• DEDICATED LAUNDRY UTILITY ROOM
• LUXURY VINYL PLANK FLOORING
• BRAND-NEW CABINETRY
• BUTCHER BLOCK COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Exterior

• Parking: Attached carport; Driveway; Paved parking; 2 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Stucco exterior; Asphalt shingle roof; Block foundation; Built with residential construction materials
• Exterior features: Public-maintained road frontage on a city street; No pool

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Electric range; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Tile flooring; Dishwasher; Electric cooktop; Electric oven; Electric range; Refrigerator

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 $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 2.5% 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: 327 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $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 24 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.

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; moderate 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 $221,526 (1.5% below list)

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: 1.25% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.25%
• DSCR: 1.59
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $208,518
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1225 NE 2nd St	0.21mi	3/2.0	1,500 (-1%)	0mo	$288,000	$192	89
1103 SE 3rd St	0.10mi	3/2.0	1,596 (+6%)	1mo	$220,000	$138	85
1255 NE 2nd St	0.23mi	3/2.0	1,541 (+2%)	9mo	$245,000	$159	79
1174 SE 3rd St	0.08mi	2/2.0 (-1)	1,416 (-6%)	14mo	$200,000	$141	70
1124 SE 2nd St	0.07mi	2/1.0 (-1)	1,424 (-6%)	22mo	$197,000	$138	60
115 NE 9th Ave	0.40mi	3/2.0	1,456 (-4%)	22mo	$160,000	$110	57
745 NE 5th Ter	0.69mi	4/2.0 (+1)	1,680 (+11%)	16mo	$130,000	$77	31

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: -8.2%
• Equity multiple: 0.70×
• Total profit: $-19,035
• Equity at exit: $33,533

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $6,631
• Equity at exit: $19,445

Cash invested: $62,972 (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 34429

• Home prices YoY: -17.8%
• Active inventory: 327
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,808 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$250 /mo · $2,998/yr
• Insurance: −$94
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$590
• Net cashflow: $269

Break-even live

Break-even rent $2,468

Max offer price $224,900

Occupancy floor 85%

Sensitivity live

Price	-10% $396	-5% $332	+0% $269	+5% $205	+10% $142
Rent	-10% $47	-5% $158	+0% $269	+5% $380	+10% $491
Rate	-1.0pp $382	-0.5pp $326	base $269	+0.5pp $211	+1.0pp $151

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1004 SE 5th Ave Crystal River, FL	3.0	2.5	2114	$3,500	$1.66	22d	1	1.01mi
1328 NE 5th Ave Crystal River, FL	3.0	2.0	1946	$2,000	$1.03	22d	1	1.28mi

Listing history 22 events

1. 2026-06-21
   days on market $224,900 Active 24 DOM
2. 2026-06-19
   days on market $224,900 Active 22 DOM
3. 2026-06-18
   days on market $224,900 Active 21 DOM
4. 2026-06-17
   days on market $224,900 Active 20 DOM
5. 2026-06-16
   days on market $224,900 Active 19 DOM
6. 2026-06-15
   days on market $224,900 Active 18 DOM
7. 2026-06-14
   days on market $224,900 Active 16 DOM
8. 2026-06-13
   pricedays on market $224,900 Active 15 DOM
9. 2026-06-10
   days on market $229,000 Active 13 DOM
10. 2026-06-09
    days on market $229,000 Active 12 DOM
11. 2026-06-08
    days on market $229,000 Active 11 DOM
12. 2026-06-07
    days on market $229,000 Active 10 DOM
13. 2026-06-03
    days on market $229,000 Active 6 DOM
14. 2026-06-02
    days on market $229,000 Active 5 DOM
15. 2026-06-01
    days on market $229,000 Active 4 DOM
16. 2026-05-31
    days on market $229,000 Active 3 DOM
17. 2026-05-30
    days on market $229,000 Active 2 DOM
18. 2026-05-28
    listed $229,000 Active
19. 2023-05-10
    soldstatus $215,000
20. 2022-02-01
    soldstatus $135,000
21. 1992-06-01
    soldstatus $40,000
22. 1988-02-01
    soldstatus $48,900

ⓘ 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: $2,998 · $250/mo
• Projected year-2 tax: $2,998 · $250/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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: $33,696
• − Mortgage interest: −$12,598
• − Property taxes: −$2,998
• − Insurance: −$6,243
• − Repairs & maintenance: −$2,696
• − Management: −$2,696
• − Depreciation: −$6,543
• Taxable loss: −$77
• Est. tax savings @ 24.0%: +$18
• After-tax cash flow: $3,245/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
• City population: 10,163
• Population (ZIP): 9,494

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% Black 5% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 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: ▼ -58.92%
• Current HPI: 271.3171
• Rent YoY: —
• Metro: —
• 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

+368.3% since first listed

5 events — show timeline

• 2026-05-28 Listed $229,000 RACC
• 2023-05-10 Sold (Public Records) $215,000 Public Records
• 2022-02-01 Sold (Public Records) $135,000 Public Records
• 1992-06-01 Sold (Public Records) $40,000 Public Records
• 1988-02-01 Sold (Public Records) $48,900 Public Records

Property tax history

+11.7%/yr

Latest (2025): $2,998 · -7.4% YoY. Source: county tax records.