671 N Fitzpatrick Ave · Inverness Highlands North, FL 34453

$234,900

3 bd · 1.5 ba · 1,134 sqft · SingleFamily public records · 23 Days on market

Built 1988 9,600 sqft lot Est $210k · 12% over

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Why this score? — see what drove the F 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 +12.8/30.0
• Schools +4.1/10.0
• DSCR +3.8/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable, insurable and ready to move in with a newer roof 2024 and water heater 2025. Great central location with plenty of room for everyone. The back room 10 x 16 has A/C and heat and can be used as a porch, family room, office, or another bedroom. Newer appliances and flooring, recently painted inside. No need to use the garage to store all you stuff- there is also a large storage building out back. Just bring your personal items and move in. Great location close to everything-- schools, Inverness with the new Home Depot coming and all the events downtown, Lecanto with all the new stores and restaurants, and Ocala just 30 minutes away.

Key facts

• Newer roof
• Water heater
• Central location

Tags

• NEWER ROOF
• WATER HEATER
• BACK ROOM
• LARGE STORAGE BUILDING
• CENTRAL LOCATION

Property features AI

Finance

• Other: Residential, medium-density zoning (MDR); Lot approximately 0.22 acres (80 x 120); Asphalt/paved road surface; Zoning compatible; Unfurnished; Directions: Croft Avenue to Bryant to Fitzpatrick
• HOA & community: No HOA/association

Exterior

• Parking: Boat parking; Driveway; Garage with door opener (1 garage space); RV access/parking; Attached garage
• Utilities: Well water; Septic tank; Broadband/High-speed internet available; Cable available; Electricity connected; Phone available; 1 well; 1 septic
• Home design: Single-family residence; One story; Faces southwest
• Construction: Block and concrete construction; Shingle roof; Slab foundation; Built with total building area of 1,554 square feet
• Exterior features: Rain gutters; Patio/porch (other); Paved lot; Mature landscaping; Public maintained road; Shed(s)

Interior

• Kitchen: Range; Range hood; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Eat-in kitchen; Window treatments; Den/Library/Office; Family room; Storage shed(s)
• Laundry & utility: Laundry in garage; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-21 ($-252/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (19.8% below list).
• Recommended offer: $188k (19.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#643 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living 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: Hernando Elementary School (math 47% / reading 51%, grade D, #1,134 of 2,144 statewide, top 54%, 813 students, 71% FRL); Inverness Middle School (math 52% / reading 48%, grade C, #254 of 571 statewide, top 45%, 1,017 students, 60% FRL); Citrus High School (math 34% / reading 51%, grade F, #264 of 667 statewide, top 41%, 1,503 students, 54% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 427 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 39% of the median local income ($58k/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 $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 23 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $200k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $188,433 (19.8% 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. 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. 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?
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: 0.80% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.38%
• DSCR: 0.98
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $209,790
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
564 N Fitzpatrick Ave	0.11mi	3/2.0	1,140 (+0%)	12mo	$205,000	$180	82
3171 E Bryant St	0.21mi	3/1.0	1,104 (-3%)	6mo	$167,500	$152	79
495 N Charles Ave	0.18mi	3/2.0	1,256 (+11%)	2mo	$235,000	$187	70
171 N Croft Ave	0.54mi	2/2.0 (-1)	1,120 (-1%)	11mo	$215,000	$192	57
794 N Fitzpatrick Ave	0.12mi	3/2.0	1,296 (+14%)	14mo	$215,000	$166	57
794 N Fitzpatrick Ave #21	0.12mi	3/2.0	1,296 (+14%)	14mo	$215,000	$166	57
3123 E Marcia St	0.53mi	3/2.0	1,256 (+11%)	1mo	$275,000	$219	55
3224 E Davis Ln #29	0.44mi	3/2.0	1,296 (+14%)	9mo	$240,000	$185	46
3224 E Davis Ln	0.44mi	3/2.0	1,296 (+14%)	9mo	$240,000	$185	46
2995 E Crown Dr	0.60mi	3/2.0	1,257 (+11%)	8mo	$299,000	$238	45
468 N Woodlake Ave	0.72mi	2/2.0 (-1)	1,200 (+6%)	15mo	$199,900	$167	37
3032 E Murray St	0.70mi	3/2.0	1,288 (+14%)	12mo	$238,500	$185	32

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: -17.0%
• Equity multiple: 0.40×
• Total profit: $-39,443
• Equity at exit: $35,024

10-year hold

• IRR: -8.9%
• Equity multiple: 0.45×
• Total profit: $-36,237
• Equity at exit: $20,310

Cash invested: $65,772 (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 34453

• Home prices YoY: -26.1%
• Active inventory: 427
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,884 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$180 /mo · $2,159/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-21

Break-even live

Break-even rent $1,911

Max offer price $231,190

Occupancy floor 96%

Sensitivity live

Price	-10% $112	-5% $45	+0% $-21	+5% $-87	+10% $-154
Rent	-10% $-170	-5% $-95	+0% $-21	+5% $53	+10% $128
Rate	-1.0pp $97	-0.5pp $39	base $-21	+0.5pp $-82	+1.0pp $-144

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
543 N Rooks Ave Inverness, FL	3.0	2.0	1296	$1,900	$1.47	22d	1	0.31mi
3070 E Odier St Inverness, FL	2.0	2.0	1052	$1,800	$1.71	22d	1	0.95mi
3880 E Byrd St Inverness, FL	3.0	2.0	1380	$1,600	$1.16	22d	1	1.17mi
815 E Rembrandt Way Unit 424 Inverness, FL	3.0	2.0	1262	$1,850	$1.47	22d	1	1.41mi

Listing history 31 events

1. 2026-06-21
   days on market $234,900 Active 23 DOM
2. 2026-06-19
   days on market $234,900 Active 21 DOM
3. 2026-06-18
   days on market $234,900 Active 20 DOM
4. 2026-06-17
   days on market $234,900 Active 19 DOM
5. 2026-06-16
   days on market $234,900 Active 18 DOM
6. 2026-06-15
   days on market $234,900 Active 17 DOM
7. 2026-06-14
   days on market $234,900 Active 15 DOM
8. 2026-06-13
   pricedays on market $234,900 Active 14 DOM
9. 2026-06-10
   days on market $249,900 Active 12 DOM
10. 2026-06-09
    days on market $249,900 Active 11 DOM
11. 2026-06-08
    days on market $249,900 Active 10 DOM
12. 2026-06-07
    days on market $249,900 Active 9 DOM
13. 2026-06-03
    days on market $249,900 Active 5 DOM
14. 2026-06-02
    days on market $249,900 Active 4 DOM
15. 2026-06-01
    days on market $249,900 Active 3 DOM
16. 2026-05-31
    remarks 699-char remark
17. 2026-05-31
    days on market $249,900 Active 2 DOM
18. 2026-05-29
    listed $249,900 Active
19. 2026-05-26
    listed $249,000 Active 649-char remark

    Show marketing remark (649 chars)

    Affordable, insurable and ready to move in with a newer roof 2024 and water heater 2025. Great central location with plenty of room for everyone. The back room 10 x 16 has A/C and heat and can be used as a porch, family room, office, or another bedroom. Newer appliances and flooring, recently painted inside. No need to use the garage to store all you stuff- there is also a large storage building out back. Just bring your personal items and move in. Great location close to everything-- schools, Inverness with the new Home Depot coming and all the events downtown, Lecanto with all the new stores and restaurants, and Ocala just 30 minutes away.

20. 2025-01-16
    soldstatus $200,000
21. 2025-01-15
    soldstatus $200,000 Closed 767-char remark

    Show marketing remark (767 chars)

    Check it out. .. brand NEW ROOF!!! This 1134 SF home also has a 10x16 enclosed porch (160 sf) on the back with heat/air that is not counted in the square footage! Nice-sized living room for entertaining guests. The enclosed porch could be used for a larger dining room, an office, or a tv room. .. lots of possibilities!! Newer refrigerator and range. .. nice landscaping, including an arbor at the front with hooks for a swing. .. cute building around the well pump. .. storage building in back yard with a people door and a garage door (ramp to garage door needs to be replaced). .. fire pit for evening gatherings. .. close to town for shopping, dining out. .. close to the lake for outdoor fun. .. this could be your next Home Sweet Home!! Come and check it out!!

22. 2025-01-15
    soldstatus $200,000 Closed

    Show marketing remark (767 chars)

    Check it out. .. brand NEW ROOF!!! This 1134 SF home also has a 10x16 enclosed porch (160 sf) on the back with heat/air that is not counted in the square footage! Nice-sized living room for entertaining guests. The enclosed porch could be used for a larger dining room, an office, or a tv room. .. lots of possibilities!! Newer refrigerator and range. .. nice landscaping, including an arbor at the front with hooks for a swing. .. cute building around the well pump. .. storage building in back yard with a people door and a garage door (ramp to garage door needs to be replaced). .. fire pit for evening gatherings. .. close to town for shopping, dining out. .. close to the lake for outdoor fun. .. this could be your next Home Sweet Home!! Come and check it out!!

23. 2024-12-09
    status Pending 767-char remark

    Show marketing remark (767 chars)

    Check it out. .. brand NEW ROOF!!! This 1134 SF home also has a 10x16 enclosed porch (160 sf) on the back with heat/air that is not counted in the square footage! Nice-sized living room for entertaining guests. The enclosed porch could be used for a larger dining room, an office, or a tv room. .. lots of possibilities!! Newer refrigerator and range. .. nice landscaping, including an arbor at the front with hooks for a swing. .. cute building around the well pump. .. storage building in back yard with a people door and a garage door (ramp to garage door needs to be replaced). .. fire pit for evening gatherings. .. close to town for shopping, dining out. .. close to the lake for outdoor fun. .. this could be your next Home Sweet Home!! Come and check it out!!

24. 2024-12-09
    status Pending

    Show marketing remark (767 chars)

    Check it out. .. brand NEW ROOF!!! This 1134 SF home also has a 10x16 enclosed porch (160 sf) on the back with heat/air that is not counted in the square footage! Nice-sized living room for entertaining guests. The enclosed porch could be used for a larger dining room, an office, or a tv room. .. lots of possibilities!! Newer refrigerator and range. .. nice landscaping, including an arbor at the front with hooks for a swing. .. cute building around the well pump. .. storage building in back yard with a people door and a garage door (ramp to garage door needs to be replaced). .. fire pit for evening gatherings. .. close to town for shopping, dining out. .. close to the lake for outdoor fun. .. this could be your next Home Sweet Home!! Come and check it out!!

25. 2024-11-27
    price $200,000
26. 2024-11-22
    price $200,000 767-char remark

    Show marketing remark (767 chars)

    Check it out. .. brand NEW ROOF!!! This 1134 SF home also has a 10x16 enclosed porch (160 sf) on the back with heat/air that is not counted in the square footage! Nice-sized living room for entertaining guests. The enclosed porch could be used for a larger dining room, an office, or a tv room. .. lots of possibilities!! Newer refrigerator and range. .. nice landscaping, including an arbor at the front with hooks for a swing. .. cute building around the well pump. .. storage building in back yard with a people door and a garage door (ramp to garage door needs to be replaced). .. fire pit for evening gatherings. .. close to town for shopping, dining out. .. close to the lake for outdoor fun. .. this could be your next Home Sweet Home!! Come and check it out!!

27. 2024-10-17
    price $219,900
28. 2024-07-25
    listed $229,900 Active 767-char remark

    Show marketing remark (767 chars)

    Check it out. .. brand NEW ROOF!!! This 1134 SF home also has a 10x16 enclosed porch (160 sf) on the back with heat/air that is not counted in the square footage! Nice-sized living room for entertaining guests. The enclosed porch could be used for a larger dining room, an office, or a tv room. .. lots of possibilities!! Newer refrigerator and range. .. nice landscaping, including an arbor at the front with hooks for a swing. .. cute building around the well pump. .. storage building in back yard with a people door and a garage door (ramp to garage door needs to be replaced). .. fire pit for evening gatherings. .. close to town for shopping, dining out. .. close to the lake for outdoor fun. .. this could be your next Home Sweet Home!! Come and check it out!!

29. 2024-07-25
    listed $229,900 Active

    Show marketing remark (767 chars)

    Check it out. .. brand NEW ROOF!!! This 1134 SF home also has a 10x16 enclosed porch (160 sf) on the back with heat/air that is not counted in the square footage! Nice-sized living room for entertaining guests. The enclosed porch could be used for a larger dining room, an office, or a tv room. .. lots of possibilities!! Newer refrigerator and range. .. nice landscaping, including an arbor at the front with hooks for a swing. .. cute building around the well pump. .. storage building in back yard with a people door and a garage door (ramp to garage door needs to be replaced). .. fire pit for evening gatherings. .. close to town for shopping, dining out. .. close to the lake for outdoor fun. .. this could be your next Home Sweet Home!! Come and check it out!!

30. 1998-03-13
    soldstatus $52,000
31. 1976-01-01
    soldstatus $18,300

ⓘ 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: $2,159 · $180/mo
• Projected year-2 tax: $2,159 · $180/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $22,612
• − Mortgage interest: −$13,158
• − Property taxes: −$2,159
• − Insurance: −$1,174
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − Depreciation: −$6,833
• Taxable loss: −$4,331
• Est. tax savings @ 24.0%: +$1,039
• After-tax cash flow: $787/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 — Inverness Highlands North

• Score: 65/100
• State rank: #643
• US rank: #12713

Category grades

Amenities F Commute F Cost of living A+ 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: Inverness Highlands North, FL
• County: Citrus County · 111,314 people
• Metro: Homosassa Springs, FL
• Population (ZIP): 10,621
• Household income: $57,568
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 240.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Black 3% Two or more races 3% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 3% Romanian 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1% Other Asian/Pacific 0%

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: ▼ -103.32%
• Current HPI: 291.8965
• 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

+1265.6% since first listed

14 events — show timeline

• 2026-05-29 Listed $249,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-26 Listed $249,000 RACC
• 2025-01-16 Sold (Public Records) $200,000 Public Records
• 2025-01-15 Sold (MLS) $200,000 RACC
• 2025-01-15 Sold (MLS) $200,000 Stellar MLS as Distributed by MLS Grid
• 2024-12-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-12-09 Pending — RACC
• 2024-11-27 Price Changed $200,000 RACC
• 2024-11-22 Price Changed $200,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-17 Price Changed $219,900 RACC
• 2024-07-25 Listed $229,900 RACC
• 2024-07-25 Listed $229,900 Stellar MLS as Distributed by MLS Grid
• 1998-03-13 Sold (Public Records) $52,000 Public Records
• 1976-01-01 Sold (Public Records) $18,300 Public Records

Property tax history

+8.8%/yr

Latest (2025): $2,159 · +9.0% YoY. Source: county tax records.