33248 Ridge Manor Blvd · Ridge Manor, FL 33523

$229,000

2 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 299 Days on market

Built 1985 0.64 ac lot Est $281k · 19% 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).

• ARV discount +15.0/15.0
• Cash flow +14.8/30.0
• Appreciation +10.0/10.0
• DSCR +4.5/10.0
• Schools +4.2/10.0
• 1% rule +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Country area convenient to I-75 and centrally located between Tampa and Ocala. Nice 2 Bedroom, 2 Bathroom Home with 2/3 of an acre! This home features a living room at the front of the home with a Great Room at the rear. Sliding Glass Doors lead out to the back yard and Patio. The master bedroom and bathroom are very spacious. Split Bedroom Floor Plan, Inside Laundry and an oversized garage!

Key facts

• Extra outdoor space
• Large lot
• Scenic walking trail

Tags

• LARGE LOT
• SCENIC WALKING TRAIL
• NEW MINI-SPLIT SYSTEMS
• PARTIALLY UPDATED FLOORING
• EXTRA OUTDOOR SPACE

Property features AI

Finance

• Other: Lot size about 0.64 acres (approx. 94 x 345); Living area about 1,152 (public records)
• Financial info: No lease restrictions indicated
• HOA & community: No association

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Public water; Private sewer; Electricity connected
• Home design: Single-family residence; One story; North-facing
• Construction: Wood siding; Shingle roof; Slab foundation; Built area: 1,325 total building area
• Exterior features: Other exterior features; Paved road access

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating: Other; Cooling: Mini-split units
• Interior features: Other interior features
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $62 ($745/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 $200k (12.7% below list).
• Recommended offer: $200k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.3% in Ridge Manor — 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 63/100 on livability (#736 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, employment D, schools F.
• Hernando (suburban): math 50% / reading 50% proficiency, ranked #38 of 73 in FL (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 295 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 299 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $229k implies a 557% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,000 (12.7% below list)

Questions for the listing agent

1. It's been on market 299 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.87% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $281,088
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5425 Leisure St	0.34mi	2/2.0	1,200 (+4%)	11mo	$220,000	$183	68
6114 Idle A While Cir	0.35mi	2/1.5	1,130 (-2%)	15mo	$230,000	$204	66
33241 Westwood Dr	0.22mi	2/1.0	1,008 (-12%)	1mo	$207,000	$205	64
33486 Westwood Dr	0.52mi	2/2.0	1,062 (-8%)	6mo	$270,000	$254	58
33357 Westwood Dr	0.27mi	2/2.0	1,000 (-13%)	11mo	$244,000	$244	57
6034 Idle A While Cir	0.55mi	3/2.0 (+1)	1,100 (-4%)	18mo	$285,000	$259	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 3.01×
• Total profit: $128,663
• Equity at exit: $206,301

10-year hold

• IRR: 22.1%
• Equity multiple: 6.86×
• Total profit: $375,763
• Equity at exit: $444,897

Cash invested: $64,120 (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 33523

• Home prices YoY: 3.8%
• Active inventory: 295
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$222 /mo · $2,659/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $62

Break-even live

Break-even rent $1,921

Max offer price $229,000

Occupancy floor 92%

Sensitivity live

Price	-10% $192	-5% $127	+0% $62	+5% $-3	+10% $-68
Rent	-10% $-96	-5% $-17	+0% $62	+5% $141	+10% $220
Rate	-1.0pp $177	-0.5pp $120	base $62	+0.5pp $3	+1.0pp $-58

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5431 Tower St Dade City, FL	2.0	1.5	1188	$2,000	$1.68	19d	1	0.43mi

Listing history 22 events

1. 2026-06-21
   days on market $229,000 Active 299 DOM
2. 2026-06-18
   days on market $229,000 Active 296 DOM
3. 2026-06-17
   days on market $229,000 Active 295 DOM
4. 2026-06-16
   days on market $229,000 Active 294 DOM
5. 2026-06-15
   days on market $229,000 Active 293 DOM
6. 2026-06-13
   days on market $229,000 Active 291 DOM
7. 2026-06-13
   days on market $229,000 Active 290 DOM
8. 2026-06-09
   days on market $229,000 Active 287 DOM
9. 2026-06-08
   days on market $229,000 Active 286 DOM
10. 2026-06-07
    days on market $229,000 Active 285 DOM
11. 2026-06-04
    days on market $229,000 Active 282 DOM
12. 2026-06-03
    days on market $229,000 Active 281 DOM
13. 2026-06-02
    days on market $229,000 Active 280 DOM
14. 2026-06-01
    days on market $229,000 Active 279 DOM
15. 2026-05-31
    days on market $229,000 Active 278 DOM
16. 2026-03-30
    price $229,000
17. 2025-08-26
    listed $249,900 Active
18. 2014-06-11
    soldstatus $34,840 394-char remark

    Show marketing remark (394 chars)

    Country area convenient to I-75 and centrally located between Tampa and Ocala. Nice 2 Bedroom, 2 Bathroom Home with 2/3 of an acre! This home features a living room at the front of the home with a Great Room at the rear. Sliding Glass Doors lead out to the back yard and Patio. The master bedroom and bathroom are very spacious. Split Bedroom Floor Plan, Inside Laundry and an oversized garage!

19. 2013-08-23
    listed $42,500 394-char remark

    Show marketing remark (394 chars)

    Country area convenient to I-75 and centrally located between Tampa and Ocala. Nice 2 Bedroom, 2 Bathroom Home with 2/3 of an acre! This home features a living room at the front of the home with a Great Room at the rear. Sliding Glass Doors lead out to the back yard and Patio. The master bedroom and bathroom are very spacious. Split Bedroom Floor Plan, Inside Laundry and an oversized garage!

20. 2012-09-13
    historical
21. 2010-06-14
    listed $39,900
22. 2002-06-14
    soldstatus $52,900

ⓘ 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: $2,659 · $222/mo
• Projected year-2 tax: $2,659 · $222/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 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: $24,000
• − Mortgage interest: −$12,828
• − Property taxes: −$2,659
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$6,662
• Taxable loss: −$3,134
• Est. tax savings @ 24.0%: +$752
• After-tax cash flow: $1,497/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: Hernando
• NCES district ID: 1200810
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $41,985
• Composite: 42.03/100
• National rank: #3329
• State rank: #38 of 73 in FL

Livability — Ridge Manor

• Score: 63/100
• State rank: #736
• US rank: #15912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ridge Manor, FL
• Population (ZIP): 19,296

Population outlook (Hernando County) Hauer SSP2

• Today (2025): 189,218 people
• By 2030: 194,367 · +2.7%
• By 2040: 203,398 · +7.5%
• By 2050: 209,589 · +10.8%
• By 2075: 218,452 · +15.4%
• By 2100: 205,923 · +8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 57% Hispanic / Latino 28% Black 10% Two or more races 10% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 5% Slovak 1% Romanian 1%
• Foreign-born: 13% · Canada, China, Jamaica
• Languages at home: 75% English-only · Spanish 21% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Hernando

• 2024 margin: Solid R (+37.0) · D 31.1% · R 68.2%
• 2008→2024 swing: -33.5pp toward R · 2008: -3.6pp · 2024: -37.0pp
• All cycles: 2024: R+37.0 2020: R+30.2 2016: R+29.0 2012: R+8.5 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.36%
• Current HPI: 448.7
• 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

+332.9% since first listed

7 events — show timeline

• 2026-03-30 Price Changed $229,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-26 Listed $249,900 Stellar MLS as Distributed by MLS Grid
• 2014-06-11 Sold (MLS) $34,840 Stellar MLS as Distributed by MLS Grid
• 2013-08-23 Listed $42,500 Stellar MLS as Distributed by MLS Grid
• 2012-09-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-06-14 Listed $39,900 Stellar MLS as Distributed by MLS Grid
• 2002-06-14 Sold (Public Records) $52,900 Public Records

Property tax history

+8.3%/yr

Latest (2025): $2,659 · -1.1% YoY. Source: county tax records.