5504 Ocean Breeze Dr · Spring Hill, FL 34609

$325,150

4 bd · 2.0 ba · 2,000 sqft · Land · 268 Days on market

Built 2025 6,250 sqft lot $60/mo HOA · 3% of rent ↓ 3% since listing

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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).

• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.4/10.0
• Rent growth +1.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to SUNSET LANDING! A beautiful, gated community of only 75 homes and with a Zen nature trail. This lovely 2000 square foot home is located on lot # 59 and is move in ready! It has four bedrooms, two bathrooms and a 2-car garage. Upgrades include a separate tile shower in the primary bath, Granite countertops in kitchen and baths, ceramic tile everywhere except the bedrooms, brand new Stainless-Steel range, dishwasher and microwave, mini blinds in the rear door, black shaker cabinets with pull bars, 3' ft stone out front and a 14' x 10' Truss covered patio! This community is close enough to major shopping but far enough to enjoy the peace and quiet.

Key facts

• Gated community
• Zen nature trail
• Separate tile shower

Tags

• GATED COMMUNITY
• ZEN NATURE TRAIL
• SEPARATE TILE SHOWER
• GRANITE COUNTERTOPS
• CERAMIC TILE
• STAINLESS-STEEL RANGE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $325k.

Deal economics

• At list price, monthly cash flow is $-436 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (19.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (27.2% below list).
• Recommended offer: $237k (27.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#738 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities 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.
• Zoned schools: Spring Hill Elementary School (math 50% / reading 51%, grade D+, #1,055 of 2,144 statewide, top 50%, 893 students, 68% FRL); Frank W. Springstead High School (math 45% / reading 55%, grade D+, #175 of 667 statewide, top 27%, 1,896 students, 49% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: Rents falling (-4.8%/yr); 741 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• This rent runs 36% of the median local income ($79k/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 $10k of value loss. Plan a longer hold.
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 268 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

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 $236,798 (27.2% 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 268 days. Have you received any prior offers? Is the seller open to a 27% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 4.68%
• Cash-on-cash: -5.75%
• DSCR: 0.74
• GRM: 11.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -29.6%
• Equity multiple: 0.04×
• Total profit: $-87,346
• Equity at exit: $48,481

10-year hold

• IRR: -50.0%
• Equity multiple: -0.52×
• Total profit: $-138,368
• Equity at exit: $28,113

Cash invested: $91,042 (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 34609

• Home prices YoY: -23.2%
• Rents YoY: -4.8%
• Active inventory: 741
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,368 high
• Mortgage (P&I): −$1,705
• Tax est. 1.5%: −$406 /mo · $4,877/yr
• Insurance: −$135
• HOA: −$60
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $-436

Break-even live

Break-even rent $2,920

Max offer price $262,012

Occupancy floor —

Sensitivity live

Price	-10% $-212	-5% $-324	+0% $-436	+5% $-549	+10% $-661
Rent	-10% $-623	-5% $-530	+0% $-436	+5% $-343	+10% $-249
Rate	-1.0pp $-273	-0.5pp $-354	base $-436	+0.5pp $-521	+1.0pp $-606

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: $81,288
• Closing costs: $9,754
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13097 Scottville St Unit 1234463P Spring Hill, FL	3.0	2.0	1463	$3,918	$2.68	0d	1	0.17mi
5038 Ayrshire Dr Spring Hill, FL	3.0	2.0	1418	$1,850	$1.30	23d	1	0.65mi
5701 Brackenwood Dr Spring Hill, FL	4.0	3.0	2439	$2,350	$0.96	25d	1	0.74mi
4582 Sheringham Ct Spring Hill, FL	3.0	2.0	2080	$2,350	$1.13	25d	1	0.78mi
5327 Baldock Ave Spring Hill, FL	3.0	2.0	1711	$1,995	$1.17	19d	1	0.78mi
6514 Grapewood Rd Spring Hill, FL	4.0	2.0	2060	$3,200	$1.55	4d	1	0.82mi
4449 Chamber Ct Spring Hill, FL	3.0	2.0	1608	$1,895	$1.18	25d	1	0.91mi
4394 Edenrock Pl Spring Hill, FL	4.0	2.5	2587	$2,250	$0.87	25d	1	0.91mi
6372 Gainsboro Ave Spring Hill, FL	3.0	2.0	1535	$1,889	$1.23	0d	1	0.91mi
4330 Crosswhite Ct Spring Hill, FL	4.0	2.0	1872	$1,800	$0.96	25d	1	0.94mi
5363 Pierpoint Ave Spring Hill, FL	3.0	2.0	1722	$2,200	$1.28	25d	1	1.02mi
13755 Covey Run Pl Spring Hill, FL	4.0	2.5	2303	$2,400	$1.04	0d	1	1.15mi
7028 Covewood Dr Spring Hill, FL	3.0	2.0	1969	$2,019	$1.03	6d	1	1.17mi
4247 Bramblewood Loop Spring Hill, FL	3.0	2.0	1672	$2,000	$1.20	25d	1	1.23mi
13035 Haverhill Dr Spring Hill, FL	3.0	2.0	1973	$2,090	$1.06	25d	1	1.26mi
13133 Haverhill Dr Spring Hill, FL	4.0	2.5	2538	$2,250	$0.89	23d	1	1.37mi
13133 Haverhill Dr Spring Hill, FL	4.0	2.5	2538	$2,275	$0.90	25d	1	1.37mi
12042 Villa Rd Spring Hill, FL	4.0	2.5	2142	$2,425	$1.13	23d	1	1.48mi

HOA detail

• Monthly dues: $60 · $720/yr
• Likely covers: security

Listing history 17 events

1. 2026-06-15
   price $325,150 Active 268 DOM
2. 2026-06-15
   days on market $330,150 Active 268 DOM
3. 2026-06-13
   days on market $330,150 Active 266 DOM
4. 2026-06-13
   days on market $330,150 Active 265 DOM
5. 2026-06-09
   days on market $330,150 Active 262 DOM
6. 2026-06-08
   days on market $330,150 Active 261 DOM
7. 2026-06-07
   days on market $330,150 Active 260 DOM
8. 2026-06-04
   statusdays on market $330,150 Active 257 DOM
9. 2026-03-16
   status Pending 664-char remark

   Show marketing remark (664 chars)

   Welcome to SUNSET LANDING! A beautiful, gated community of only 75 homes and with a Zen nature trail. This lovely 2000 square foot home is located on lot # 59 and is move in ready! It has four bedrooms, two bathrooms and a 2-car garage. Upgrades include a separate tile shower in the primary bath, Granite countertops in kitchen and baths, ceramic tile everywhere except the bedrooms, brand new Stainless-Steel range, dishwasher and microwave, mini blinds in the rear door, black shaker cabinets with pull bars, 3' ft stone out front and a 14' x 10' Truss covered patio! This community is close enough to major shopping but far enough to enjoy the peace and quiet.

10. 2026-03-16
    price $330,150 664-char remark

    Show marketing remark (664 chars)

    Welcome to SUNSET LANDING! A beautiful, gated community of only 75 homes and with a Zen nature trail. This lovely 2000 square foot home is located on lot # 59 and is move in ready! It has four bedrooms, two bathrooms and a 2-car garage. Upgrades include a separate tile shower in the primary bath, Granite countertops in kitchen and baths, ceramic tile everywhere except the bedrooms, brand new Stainless-Steel range, dishwasher and microwave, mini blinds in the rear door, black shaker cabinets with pull bars, 3' ft stone out front and a 14' x 10' Truss covered patio! This community is close enough to major shopping but far enough to enjoy the peace and quiet.

11. 2026-02-24
    status Pending
12. 2026-02-06
    price $320,150 664-char remark

    Show marketing remark (664 chars)

    Welcome to SUNSET LANDING! A beautiful, gated community of only 75 homes and with a Zen nature trail. This lovely 2000 square foot home is located on lot # 59 and is move in ready! It has four bedrooms, two bathrooms and a 2-car garage. Upgrades include a separate tile shower in the primary bath, Granite countertops in kitchen and baths, ceramic tile everywhere except the bedrooms, brand new Stainless-Steel range, dishwasher and microwave, mini blinds in the rear door, black shaker cabinets with pull bars, 3' ft stone out front and a 14' x 10' Truss covered patio! This community is close enough to major shopping but far enough to enjoy the peace and quiet.

13. 2026-01-03
    price $330,150
14. 2026-01-02
    price $330,150 664-char remark

    Show marketing remark (664 chars)

    Welcome to SUNSET LANDING! A beautiful, gated community of only 75 homes and with a Zen nature trail. This lovely 2000 square foot home is located on lot # 59 and is move in ready! It has four bedrooms, two bathrooms and a 2-car garage. Upgrades include a separate tile shower in the primary bath, Granite countertops in kitchen and baths, ceramic tile everywhere except the bedrooms, brand new Stainless-Steel range, dishwasher and microwave, mini blinds in the rear door, black shaker cabinets with pull bars, 3' ft stone out front and a 14' x 10' Truss covered patio! This community is close enough to major shopping but far enough to enjoy the peace and quiet.

15. 2025-10-16
    listed $340,150 Active 664-char remark

    Show marketing remark (664 chars)

    Welcome to SUNSET LANDING! A beautiful, gated community of only 75 homes and with a Zen nature trail. This lovely 2000 square foot home is located on lot # 59 and is move in ready! It has four bedrooms, two bathrooms and a 2-car garage. Upgrades include a separate tile shower in the primary bath, Granite countertops in kitchen and baths, ceramic tile everywhere except the bedrooms, brand new Stainless-Steel range, dishwasher and microwave, mini blinds in the rear door, black shaker cabinets with pull bars, 3' ft stone out front and a 14' x 10' Truss covered patio! This community is close enough to major shopping but far enough to enjoy the peace and quiet.

16. 2025-07-12
    price $340,150
17. 2025-06-13
    listed $339,150 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,416
• − Mortgage interest: −$18,213
• − Property taxes: −$4,877
• − Insurance: −$1,626
• − Repairs & maintenance: −$2,273
• − Management: −$2,273
• − HOA: −$720
• − Depreciation: −$9,459
• Taxable loss: −$11,026
• Est. tax savings @ 24.0%: +$2,646
• After-tax cash flow: $-2,590/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 — Spring Hill

• Score: 63/100
• State rank: #738
• US rank: #15937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Hill, FL
• County: Hernando County · 169,677 people
• City population: 83,915
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 47,257
• Household income: $79,442
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 663.0

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: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 22% Two or more races 13% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 12% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 11% · Canada, Jamaica, Philippines
• Languages at home: 81% English-only · Spanish 15% Other Asian/Pacific 1% Other Indo-European 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: ▼ -86.49%
• Current HPI: 286.5885
• Rent YoY: ▼ -4.82%
• Metro: Tampa-St. Petersburg-Clearwater, 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

-2.7% since first listed

9 events — show timeline

• 2026-03-16 Pending — HCAR
• 2026-03-16 Price Changed $330,150 HCAR
• 2026-02-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-06 Price Changed $320,150 HCAR
• 2026-01-03 Price Changed $330,150 Stellar MLS as Distributed by MLS Grid
• 2026-01-02 Price Changed $330,150 HCAR
• 2025-10-16 Listed $340,150 HCAR
• 2025-07-12 Price Changed $340,150 Stellar MLS as Distributed by MLS Grid
• 2025-06-13 Listed $339,150 Stellar MLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2025): $365 · +20.1% YoY. Source: county tax records.