35086 Whispering Oaks Blvd · Ridge Manor, FL 33523

$199,999

2 bd · 2.0 ba · 1,444 sqft · SingleFamily public records · 4 Days on market

Built 1983 5,964 sqft lot Est $235k · 15% under $23/mo HOA · 1% of rent

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Why this score? — see what drove the A 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
• ARV discount +14.3/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.1/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

ENJOY PLENTY OF SPACE with easy maintenance when you own this delightful 3/2 Cambridge villa in Whispering Oaks Estates. Complete with brand new tile and carpet and fresh paint, this lovely home overlooks #1 fairway where you can view wide open spaces and enjoy fun views of golf. The eat-in kitchen with bay window invites you to sit a while and enjoy that 2nd cup of coffee. The great room has volume ceilings which make the already large space seem even larger. From the cozy Florida room, you can enter the lanai – a great place to relax. The lucky buyer will receive a 1 year home warranty! Just $117,500

Key facts

• New front gutters
• New water heater
• New rear gutters

Tags

• GOLF COURSE VIEWS
• WIDE-OPEN GREEN SPACE
• NEW WATER HEATER
• WATER FILTRATION SYSTEM
• NEW REAR GUTTERS
• NEW FRONT GUTTERS

Property features AI

Finance

• Other: Private maintained asphalt road; Lot about 0.1 acre (mature landscaping); Living area and building area per public records; Directions: Hwy 50 to 301 (Treiman Blvd) to Whispering Oaks Blvd
• HOA & community: HOA required with monthly fee of $23.08 (annual fee $277); Association amenities include clubhouse and golf course; Community features: clubhouse, community mailbox, deed restrictions, golf carts allowed, golf; Pets allowed: cats and dogs

Exterior

• Parking: Assigned parking; Covered parking; Driveway parking; Ground-level parking; Guest parking; 2-space carport
• Security: Security system; Smoke detectors
• Utilities: Public water; Public sewer; Cable connected; High-speed internet available; Electricity connected; Phone available; Fire hydrant nearby; Sewer connected; Underground utilities; Water connected
• Home design: Single-family residence; One story; North-facing; Residential zoning; Homesteaded
• Construction: Brick, frame and wood siding construction; Shingle roof; Slab foundation; Built with irrigation equipment
• Exterior features: Front porch; Patio; Screened porch; Rain gutters; Sliding doors; Exterior storage; Mature landscaping with oak trees

Interior

• Kitchen: Disposal; Range; Refrigerator; Ice maker; Exhaust fan; Water filtration system; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; High ceilings; Living room / dining room combo; Open floorplan; Split bedroom layout; Thermostat; Vaulted ceilings; Walk-in closets; Blinds
• Laundry & utility: Washer hookup; Dryer hookup; Electric dryer hookup; Inside laundry; Laundry closet; Inside utility

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 12.1% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k 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 $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $110k; list at $200k implies a 82% 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; 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 $199,999

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.41% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.78%
• DSCR: 1.92
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $235,372
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35118 Whispering Oaks Blvd	0.05mi	3/2.0 (+1)	1,564 (+8%)	9mo	$220,000	$141	71
35062 Whispering Oaks Blvd	0.04mi	3/2.0 (+1)	1,564 (+8%)	18mo	$203,000	$130	65
6126 Beechwood Dr	0.15mi	3/2.0 (+1)	1,564 (+8%)	14mo	$220,000	$141	62
35138 Whispering Oaks Blvd	0.09mi	2/2.0	1,256 (-13%)	22mo	$205,000	$163	55
5495 Emerald Dr	0.62mi	3/2.0 (+1)	1,563 (+8%)	5mo	$325,000	$208	48
6103 Fairway Dr	0.50mi	3/2.0 (+1)	1,658 (+15%)	10mo	$337,500	$204	39

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: 39.8%
• Equity multiple: 4.05×
• Total profit: $170,660
• Equity at exit: $180,175

10-year hold

• IRR: 34.3%
• Equity multiple: 9.11×
• Total profit: $453,931
• Equity at exit: $388,554

Cash invested: $56,000 (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 33523

• Home prices YoY: 3.8%
• Active inventory: 295
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,825 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$107 /mo · $1,282/yr
• Insurance: −$83
• HOA: −$23
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $970

Break-even live

Break-even rent $1,597

Max offer price $199,999

Occupancy floor 61%

Sensitivity live

Price	-10% $1,083	-5% $1,026	+0% $970	+5% $913	+10% $857
Rent	-10% $747	-5% $858	+0% $970	+5% $1,081	+10% $1,193
Rate	-1.0pp $1,071	-0.5pp $1,021	base $970	+0.5pp $918	+1.0pp $865

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	1.06mi
34807 Evergreen Way Dade City, FL	3.0	1.0	1000	$1,900	$1.90	21d	1	1.14mi
34807 Evergreen Way Unit 1571614P Ridge Manor, FL	3.0	1.0	1076	$4,669	$4.34	0d	1	1.14mi

HOA detail

• Monthly dues: $23 · $276/yr

Listing history 8 events

1. 2026-05-31
   status $199,999 Pending 4 DOM
2. 2026-05-26
   listed $199,999 Active
3. 2018-11-07
   soldstatus $110,000
4. 2018-11-06
   soldstatus $110,000 615-char remark

   Show marketing remark (615 chars)

   ENJOY PLENTY OF SPACE with easy maintenance when you own this delightful 3/2 Cambridge villa in Whispering Oaks Estates. Complete with brand new tile and carpet and fresh paint, this lovely home overlooks #1 fairway where you can view wide open spaces and enjoy fun views of golf. The eat-in kitchen with bay window invites you to sit a while and enjoy that 2nd cup of coffee. The great room has volume ceilings which make the already large space seem even larger. From the cozy Florida room, you can enter the lanai – a great place to relax. The lucky buyer will receive a 1 year home warranty! Just $117,500

5. 2018-05-22
   listed $117,500 615-char remark

   Show marketing remark (615 chars)

   ENJOY PLENTY OF SPACE with easy maintenance when you own this delightful 3/2 Cambridge villa in Whispering Oaks Estates. Complete with brand new tile and carpet and fresh paint, this lovely home overlooks #1 fairway where you can view wide open spaces and enjoy fun views of golf. The eat-in kitchen with bay window invites you to sit a while and enjoy that 2nd cup of coffee. The great room has volume ceilings which make the already large space seem even larger. From the cozy Florida room, you can enter the lanai – a great place to relax. The lucky buyer will receive a 1 year home warranty! Just $117,500

6. 2013-12-18
   soldstatus $70,000
7. 2013-12-13
   soldstatus $70,000 464-char remark

   Show marketing remark (464 chars)

   ENJOY PLENTY OF SPACE with easy maintenance when you own this delightful 3/2 Cambridge villa in Whispering Oaks Estates. This lovely home overlooks #1 fairway and features a tiled entry foyer, eat-in kitchen with bay window, volume ceilings, split bedrooms, a cozy Florida room and a spacious lanai! HOA fees are only $150 a year, and at the time of sale, you'll receive a 1 year home warranty PLUS a lifetime social membership to the country club! Just $79,500!

8. 2013-10-14
   listed $79,500 464-char remark

   Show marketing remark (464 chars)

   ENJOY PLENTY OF SPACE with easy maintenance when you own this delightful 3/2 Cambridge villa in Whispering Oaks Estates. This lovely home overlooks #1 fairway and features a tiled entry foyer, eat-in kitchen with bay window, volume ceilings, split bedrooms, a cozy Florida room and a spacious lanai! HOA fees are only $150 a year, and at the time of sale, you'll receive a 1 year home warranty PLUS a lifetime social membership to the country club! Just $79,500!

ⓘ 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: $1,282 · $107/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: +$378/yr (+$31/mo · 29.5%)

ⓘ 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 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: $33,901
• − Mortgage interest: −$11,203
• − Property taxes: −$1,282
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,712
• − Management: −$2,712
• − HOA: −$276
• − Depreciation: −$5,818
• Taxable income: $8,897
• Est. tax owed @ 24.0%: −$2,135
• After-tax cash flow: $9,502/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

+151.6% since first listed

7 events — show timeline

• 2026-05-26 Listed $199,999 Stellar MLS as Distributed by MLS Grid
• 2018-11-07 Sold (Public Records) $110,000 Public Records
• 2018-11-06 Sold (MLS) $110,000 Stellar MLS as Distributed by MLS Grid
• 2018-05-22 Listed $117,500 Stellar MLS as Distributed by MLS Grid
• 2013-12-18 Sold (Public Records) $70,000 Public Records
• 2013-12-13 Sold (MLS) $70,000 Stellar MLS as Distributed by MLS Grid
• 2013-10-14 Listed $79,500 Stellar MLS as Distributed by MLS Grid

Property tax history

+0.4%/yr

Latest (2025): $1,282 · +1.1% YoY. Source: county tax records.