270 E Glassboro Ct Unit 2B · Citrus Hills, FL 34442

$165,000

2 bd · 2.5 ba · 1,320 sqft · Condo public records · 42 Days on market

Built 1984 $485/mo HOA · 25% of rent

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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 +11.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.1/10.0
• DSCR +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy, low-maintenance living in the heart of Citrus Hills, Greenbriar! This charming 2 bedroom, 2.5 bath two story home offers 1,320 living sq ft and a fantastic location with the community pool just steps outside your back door. Inside, you’ll love the fresh interior paint, brand new carpet, and functional layout designed for comfortable everyday living. The spacious kitchen comes complete with appliances, pantry storage, and overlooks the dining area and living space, making entertaining a breeze. A convenient half bath is located on the main floor for guests. Upstairs, the primary suite features vaulted ceilings, a private balcony, and an abundance of natural light creat

Key facts

• $485 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Subdivision: Citrus Hills - Greenbriar; Paved road access; Landscaped, rectangular lot
• HOA & community: Homeowners association with monthly fee of $485; HOA covers grounds maintenance, sewer, trash and water; Community amenities include pool and tennis courts; Breed restrictions for pets

Exterior

• Parking: Attached carport; Driveway parking; Concrete parking surfaces; 1 total parking space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Residential condominium; Faces northwest
• Construction: Stucco construction; Asphalt shingle roof; Block and slab foundation; Built on 1968 square-foot living area
• Exterior features: Balcony; Exterior lighting; Rain gutters; Sliding doors; Community pool available; No private pool

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning; Electric cooling
• Interior features: High ceilings; Vaulted ceilings; Laminate counters; Pantry; High-speed internet; Skylight(s)
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-67 ($-810/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (7.2% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $153k (7.2% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 2.9% in Citrus Hills — 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 (#744 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing 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: Forest Ridge Elementary School (math 55% / reading 59%, grade C+, #781 of 2,144 statewide, top 38%, 708 students, 67% 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: 444 active listings in the ZIP; 10 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).
• This rent runs 41% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $102k; list at $165k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,079 (7.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 5.80%
• Cash-on-cash: -1.75%
• DSCR: 0.92
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.9%
• Equity multiple: 0.34×
• Total profit: $-30,713
• Equity at exit: $24,602

10-year hold

• IRR: -11.0%
• Equity multiple: 0.33×
• Total profit: $-30,972
• Equity at exit: $14,266

Cash invested: $46,200 (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 34442

• Home prices YoY: -21.9%
• Active inventory: 444
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,960 high
• Mortgage (P&I): −$865
• Tax from tax record: −$197 /mo · $2,362/yr
• Insurance: −$69
• HOA: −$485
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-67

Break-even live

Break-even rent $2,045

Max offer price $153,079

Occupancy floor 98%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
741 E Hartford St Unit 1A Hernando, FL	2.0	2.0	990	$1,800	$1.82	21d	1	0.49mi
790 E Gilchrist Ct Unit 2B Hernando, FL	2.0	2.5	1320	$2,000	$1.52	21d	1	0.54mi
791 E Hartford St Unit 5 A Hernando, FL	2.0	2.0	990	$1,650	$1.67	21d	1	0.55mi
2280 N Hardee Pt Hernando, FL	2.0	2.0	1118	$1,700	$1.52	21d	1	0.67mi
1559 N Killebrew Pt Unit NA Hernando, FL	3.0	2.0	1771	$2,900	$1.64	21d	1	0.67mi
1471 E Saint James Loop Inverness, FL	3.0	2.0	1228	$1,700	$1.38	21d	1	1.20mi
877 W Silver Meadow Loop Hernando, FL	3.0	2.0	1637	$2,500	$1.53	21d	1	1.36mi
100 E Knightsbridge Pl Lecanto, FL	3.0	2.0	1600	$1,675	$1.05	21d	1	1.43mi
1240 W Diamond Shore Loop Hernando, FL	2.0	2.0	1770	$2,900	$1.64	21d	1	1.46mi
144 W Sugarmaple Ln Beverly Hills, FL	3.0	2.0	1600	$1,700	$1.06	21d	1	1.48mi

HOA detail condo

• Monthly dues: $485 · $5,820/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-19
   days on market $165,000 Active 42 DOM
2. 2026-06-18
   days on market $165,000 Active 41 DOM
3. 2026-06-17
   days on market $165,000 Active 40 DOM
4. 2026-06-16
   days on market $165,000 Active 39 DOM
5. 2026-06-15
   days on market $165,000 Active 38 DOM
6. 2026-06-14
   days on market $165,000 Active 36 DOM
7. 2026-06-13
   days on market $165,000 Active 35 DOM
8. 2026-06-09
   days on market $165,000 Active 32 DOM
9. 2026-06-08
   days on market $165,000 Active 31 DOM
10. 2026-06-07
    days on market $165,000 Active 30 DOM
11. 2026-06-03
    days on market $165,000 Active 26 DOM
12. 2026-06-02
    days on market $165,000 Active 25 DOM
13. 2026-06-01
    days on market $165,000 Active 24 DOM
14. 2026-05-31
    days on market $165,000 Active 23 DOM
15. 2026-05-30
    days on market $165,000 Active 22 DOM
16. 2026-05-07
    listed $165,000 Active
17. 2019-10-09
    soldstatus $101,500
18. 1985-09-01
    soldstatus $73,400

ⓘ 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: $2,362 · $197/mo
• Projected year-2 tax: $2,362 · $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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $23,520
• − Mortgage interest: −$9,243
• − Property taxes: −$2,362
• − Insurance: −$825
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − HOA: −$5,820
• − Depreciation: −$4,800
• Taxable loss: −$3,293
• Est. tax savings @ 24.0%: +$790
• After-tax cash flow: $-19/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 — Citrus Hills

• Score: 63/100
• State rank: #744
• US rank: #16030

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Citrus Hills, FL
• County: Citrus County · 111,314 people
• Metro: Homosassa Springs, FL
• Population (ZIP): 17,281
• Household income: $57,259
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 314.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Asian 2% Black 2%
• Common ancestry: Romanian 4% Slovak 4% Lithuanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 93% English-only · Spanish 3% German/W. Germanic 2% 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: ▼ -76.70%
• Current HPI: 273.3262
• 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

+124.8% since first listed

3 events — show timeline

• 2026-05-07 Listed $165,000 RACC
• 2019-10-09 Sold (Public Records) $101,500 Public Records
• 1985-09-01 Sold (Public Records) $73,400 Public Records

Property tax history

+8.9%/yr

Latest (2025): $2,362 · +5.2% YoY. Source: county tax records.