10 New Florida Ave · Pine Ridge, FL 34465

$210,000

2 bd · 2.0 ba · 1,604 sqft · SingleFamily public records · 21 Days on market

Built 1982 10,019 sqft lot Est $226k · 7% under

---

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 +20.2/30.0
• ARV discount +10.7/15.0
• DSCR +6.4/10.0
• 1% rule +4.1/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW!!!! SAME FAMILY OWNED SINCE NEW * IMPERIAL EXECUTIVE MODEL WITH OVER 2300 SQ. FT. UNDER ROOF * CAGED INGROUND POOL * FENCED REAR YARD WITH GREENBELT BEHIND * ROOF SHINGLES NEW IN 2005 * TWO CAR GARAGE WITH SCREENING * ALL APPLIANCES REMAIN * KITCHEN CABINETS GALORE * FLORIDA ROOM HAS SLIDING GLASS WINDOWS AND SCREENS * MASTERBEDROOM HAS WALK-IN CEDAR CLOSET * AC UNIT UNDER BAY AREA GOLD CONTRACT-UP FOR RENEWAL 3/31/2008.BEVERLY HILL RECREATION ASSOCIATION IS VOLUNTARY $212.00 * * PER YEAR FOR TWO. * ALL SIZES AND SQ. FT. APPROX.

Key facts

• Covered front porch
• Newer roof
• Caged pool

Tags

• NEWER ROOF
• COVERED FRONT PORCH
• SCREENED LANAI
• FENCED BACKYARD
• CAGED POOL
• WALK-IN SHOWER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/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 $190k (9.4% below list).
• Recommended offer: $190k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.4% in Pine Ridge — 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 67/100 on livability (#565 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing 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: 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: 396 active listings in the ZIP; 16 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 42% of the median local income ($55k/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 $6k 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 21 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $97k; list at $210k implies a 116% 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 $190,353 (9.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.91% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.40%
• DSCR: 1.24
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $226,164
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 New Florida Ave	0.00mi	2/2.0	1,692 (+6%)	1mo	$192,500	$114	90
2661 N Ezra Ter	0.42mi	2/2.0	1,606 (+0%)	1mo	$399,900	$249	80
2383 N Brentwood Cir	0.53mi	2/2.0	1,654 (+3%)	5mo	$245,000	$148	66
2299 N Brentwood Cir	0.56mi	3/2.0 (+1)	1,625 (+1%)	4mo	$215,000	$132	63
1876 W Caroline Path	0.63mi	3/2.0 (+1)	1,625 (+1%)	3mo	$194,900	$120	61
1883 W Shanelle Path	0.63mi	3/2.0 (+1)	1,655 (+3%)	1mo	$226,500	$137	60
316 S Lincoln Ave	0.70mi	2/2.0	1,548 (-4%)	3mo	$197,000	$127	60
2451 N Brentwood Cir	0.63mi	3/2.0 (+1)	1,645 (+3%)	5mo	$260,000	$158	57
1873 W Shanelle Path	0.64mi	2/2.0	1,444 (-10%)	1mo	$199,000	$138	53
1835 W Caroline Path	0.65mi	2/2.0	1,468 (-8%)	4mo	$265,000	$181	52
328 S Monroe St	0.52mi	3/2.0 (+1)	1,743 (+9%)	6mo	$246,500	$141	51
1826 W Shanelle Path	0.72mi	3/2.0 (+1)	1,720 (+7%)	6mo	$279,000	$162	44

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: -8.0%
• Equity multiple: 0.71×
• Total profit: $-17,273
• Equity at exit: $31,312

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $6,253
• Equity at exit: $18,157

Cash invested: $58,800 (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 34465

• Home prices YoY: -33.1%
• Active inventory: 396
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,904 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$50 /mo · $604/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $265

Break-even live

Break-even rent $1,568

Max offer price $210,000

Occupancy floor 81%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 Montana St Beverly Hills, FL	2.0	1.0	1088	$1,700	$1.56	21d	1	0.18mi
1984 W Marsten Ct Lecanto, FL	3.0	2.0	1854	$2,000	$1.08	21d	1	0.51mi
1882 W Angelica Loop Lecanto, FL	3.0	2.0	1706	$1,900	$1.11	21d	1	0.56mi
1933 W Shanelle Path Lecanto, FL	3.0	2.0	1690	$2,300	$1.36	21d	1	0.56mi
1876 W Shanelle Path Lecanto, FL	3.0	2.0	1675	$2,100	$1.25	21d	1	0.63mi
2131 N Pinecone Ave Lecanto, FL	2.0	2.0	1438	$2,000	$1.39	21d	1	0.68mi
2443 N Andrea Pt Lecanto, FL	3.0	2.5	1988	$2,500	$1.26	21d	1	0.79mi
209 S Tyler St Beverly Hills, FL	2.0	2.0	1604	$1,500	$0.94	21d	1	0.97mi
1610 W Spring Meadow Loop Lecanto, FL	2.0	2.5	1359	$2,700	$1.99	21d	1	0.99mi
1658 W Spring Meadow Loop Lecanto, FL	2.0	2.5	1359	$1,775	$1.31	21d	1	1.00mi
1973 N Ember Path Hernando, FL	2.0	2.0	1786	$2,800	$1.57	21d	1	1.03mi
95 S Fillmore St Beverly Hills, FL	2.0	1.0	1056	$1,300	$1.23	21d	1	1.16mi
95 S Desoto St Beverly Hills, FL	2.0	2.0	1152	$1,435	$1.25	21d	1	1.24mi
42 Roosevelt Blvd Unit 1 Beverly Hills, FL	3.0	1.5	1612	$1,449	$0.90	21d	1	1.32mi
1281 W Diamond Shore Loop Hernando, FL	2.0	2.0	1686	$3,000	$1.78	21d	1	1.42mi
3263 N Maidencane Dr Beverly Hills, FL	2.0	1.0	1380	$1,350	$0.98	21d	1	1.46mi

Listing history 6 events

1. 2026-04-15
   status Pending
2. 2026-04-07
   price $210,000
3. 2026-03-25
   listed $219,900 Active
4. 2008-01-11
   soldstatus $97,000 563-char remark

   Show marketing remark (563 chars)

   WOW!!!! SAME FAMILY OWNED SINCE NEW * IMPERIAL EXECUTIVE MODEL WITH OVER 2300 SQ. FT. UNDER ROOF * CAGED INGROUND POOL * FENCED REAR YARD WITH GREENBELT BEHIND * ROOF SHINGLES NEW IN 2005 * TWO CAR GARAGE WITH SCREENING * ALL APPLIANCES REMAIN * KITCHEN CABINETS GALORE * FLORIDA ROOM HAS SLIDING GLASS WINDOWS AND SCREENS * MASTERBEDROOM HAS WALK-IN CEDAR CLOSET * AC UNIT UNDER BAY AREA GOLD CONTRACT-UP FOR RENEWAL 3/31/2008.BEVERLY HILL RECREATION ASSOCIATION IS VOLUNTARY $212.00 * * PER YEAR FOR TWO. * ALL SIZES AND SQ. FT. APPROX.

5. 2007-07-18
   listed $115,900 563-char remark

   Show marketing remark (563 chars)

   WOW!!!! SAME FAMILY OWNED SINCE NEW * IMPERIAL EXECUTIVE MODEL WITH OVER 2300 SQ. FT. UNDER ROOF * CAGED INGROUND POOL * FENCED REAR YARD WITH GREENBELT BEHIND * ROOF SHINGLES NEW IN 2005 * TWO CAR GARAGE WITH SCREENING * ALL APPLIANCES REMAIN * KITCHEN CABINETS GALORE * FLORIDA ROOM HAS SLIDING GLASS WINDOWS AND SCREENS * MASTERBEDROOM HAS WALK-IN CEDAR CLOSET * AC UNIT UNDER BAY AREA GOLD CONTRACT-UP FOR RENEWAL 3/31/2008.BEVERLY HILL RECREATION ASSOCIATION IS VOLUNTARY $212.00 * * PER YEAR FOR TWO. * ALL SIZES AND SQ. FT. APPROX.

6. 1982-09-01
   soldstatus $62,900

ⓘ 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: $604 · $50/mo
• Projected year-2 tax: $1,743 · $145/mo
• Expected delta: +$1,139/yr (+$95/mo · 188.5%)

ⓘ 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 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: $22,842
• − Mortgage interest: −$11,763
• − Property taxes: −$604
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − Depreciation: −$6,109
• Taxable loss: −$339
• Est. tax savings @ 24.0%: +$81
• After-tax cash flow: $3,257/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 — Pine Ridge

• Score: 67/100
• State rank: #565
• US rank: #10798

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pine Ridge, FL
• County: Citrus County · 111,314 people
• City population: 18,514
• Metro: Homosassa Springs, FL
• Population (ZIP): 18,879
• Household income: $54,869
• Rent vs Own: 18.4% rent · 81.6% own
• Severe rent burden: 334.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Black 4% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Vietnam, Dominican Republic
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -138.62%
• Current HPI: 279.7183
• 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

+233.9% since first listed

6 events — show timeline

• 2026-04-15 Pending — RACC
• 2026-04-07 Price Changed $210,000 RACC
• 2026-03-25 Listed $219,900 RACC
• 2008-01-11 Sold (MLS) $97,000 RACC
• 2007-07-18 Listed $115,900 RACC
• 1982-09-01 Sold (Public Records) $62,900 Public Records

Property tax history

+1.3%/yr

Latest (2025): $604 · +10.2% YoY. Source: county tax records.