2480 Anchor Ave · Spring Hill, FL 34608

$188,500

2 bd · 2.0 ba · 940 sqft · SingleFamily public records · 32 Days on market

Built 1981 10,000 sqft lot Est $221k · 15% under

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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).

• ARV discount +14.1/15.0
• Cash flow +13.2/30.0
• Schools +4.2/10.0
• DSCR +4.0/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2/2/1 home on almost 1/4 acre of land on quiet street. Master bedroom has walk in closet and bath, partially fenced yard and enclosed lanai. located close to schools and shopping.

Key facts

• Close to schools
• Walk in closet
• Close to shopping

Tags

• WALK IN CLOSET
• PARTIALLY FENCED YARD
• ENCLOSED LANAI
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Lot about 0.23 acres (0 to less than 1/4 acre)
• Financial info: No lease restrictions; Tax year 2025
• HOA & community: No association indicated

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water available; Septic tank sewer; Electricity available
• Home design: Single family residence; One story; Faces west; Residential property
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built with approximately 1,448 total building area and 940 living area (public records)
• Exterior features: Sliding doors; Asphalt/paved road access

Interior

• Kitchen: Range hood; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Living room/dining room combo; Walk-in closet(s)
• Laundry & utility: Laundry in garage; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $188k.

Deal economics

• At list price, monthly cash flow is $-5 ($-58/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (14.8% below list).
• Recommended offer: $161k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.4% in Spring Hill — 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 (#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: Explorer K-8 (math 40% / reading 41%, grade F, #1,471 of 2,144 statewide, top 69%, 1,617 students, 69% 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 59% FRL track the district average.
• Market conditions: Rents soft (-0.7%/yr); 381 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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

• 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.
• 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 32 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $44k; list at $188k implies a 333% 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; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,564 (14.8% 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. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.85% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.11%
• DSCR: 1.00
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $220,900
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2435 Mandrell Ave	0.13mi	2/1.5	848 (-10%)	1mo	$199,000	$235	75
11079 Marysville St	0.37mi	2/2.0	979 (+4%)	16mo	$250,000	$255	62
11094 Auburndale St	0.53mi	2/2.0	916 (-3%)	11mo	$215,000	$235	62
11175 Holbrook St	0.69mi	2/2.0	979 (+4%)	3mo	$220,000	$225	59
10532 Marysville St	0.27mi	2/1.5	873 (-7%)	19mo	$244,000	$279	58
2300 Restmere Ln	0.70mi	2/2.0	1,016 (+8%)	2mo	$190,000	$187	52
10427 Abbeville St	0.42mi	3/2.0 (+1)	1,070 (+14%)	5mo	$230,000	$215	48
2234 Marietta Ave	0.47mi	2/1.0	812 (-14%)	10mo	$207,500	$256	44
10351 Lansfield St	0.62mi	2/2.0	1,064 (+13%)	19mo	$249,990	$235	33

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.33×
• Total profit: $-35,550
• Equity at exit: $28,106

10-year hold

• IRR: -20.7%
• Equity multiple: 0.06×
• Total profit: $-49,510
• Equity at exit: $16,298

Cash invested: $52,780 (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 34608

• Home prices YoY: -24.7%
• Rents YoY: -0.7%
• Active inventory: 381
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,606 high
• Mortgage (P&I): −$989
• Tax from tax record: −$206 /mo · $2,474/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $-5

Break-even live

Break-even rent $1,612

Max offer price $187,652

Occupancy floor 95%

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: $47,125
• Closing costs: $5,655
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2479 Statler Ave Spring Hill, FL	2.0	2.0	1076	$1,640	$1.52	24d	1	0.60mi
3255 Amherst Ave Spring Hill, FL	2.0	1.5	930	$1,750	$1.88	16d	1	0.70mi
3255 Amherst Ave Spring Hill, FL	2.0	1.5	930	$1,850	$1.99	17d	1	0.70mi
3535 Portillo Rd Unit 40 Spring Hill, FL	2.0	2.0	1000	$1,379	$1.38	23d	1	0.79mi
3535 Portillo Rd Unit 40 Spring Hill, FL	2.0	2.0	1000	$1,379	$1.38	21d	1	0.79mi
3535 Portillo Rd Apt 56 Spring Hill, FL	2.0	2.0	1000	$1,395	$1.40	24d	1	0.81mi
10322 Gracelyn DR Spring Hill, FL	1.0–3.0	1.0–2.5	1206	$1,965	$1.63	1d	43	0.82mi
3544 Portillo Rd Spring Hill, FL	2.0	1.0	850	$1,275	$1.50	24d	1	0.85mi
10490 Chalmer St Apt 3 Spring Hill, FL	2.0	2.0	1050	$1,550	$1.48	24d	1	0.93mi
4028 Portillo Rd Spring Hill, FL	2.0	2.0	1032	$1,475	$1.43	2d	1	1.03mi
10337 Usher St Spring Hill, FL	2.0	1.0	1009	$1,475	$1.46	24d	1	1.05mi
10264 Spring Hill Dr Spring Hill, FL	2.0	1.0	720	$500	$0.69	24d	1	1.06mi
10315 Walton St Spring Hill, FL	2.0	1.5	1000	$1,650	$1.65	17d	1	1.10mi
2789 Landover Blvd Spring Hill, FL	2.0	1.0	824	$1,300	$1.58	24d	1	1.11mi
10313 Walton St Spring Hill, FL	2.0	1.5	1000	$1,550	$1.55	17d	1	1.12mi
11348 Linden Dr Spring Hill, FL	3.0	2.0	1114	$1,895	$1.70	24d	1	1.18mi
4208 Jason Rd Spring Hill, FL	2.0	2.0	1038	$1,500	$1.45	24d	1	1.34mi
4224 Portillo Rd Spring Hill, FL	2.0	2.0	1100	$1,462	$1.33	23d	3	1.38mi
4243 Jason Rd Spring Hill, FL	2.0	1.0	804	$1,300	$1.62	24d	1	1.38mi
4247 Jason Rd Spring Hill, FL	2.0	1.0	804	$1,300	$1.62	10d	1	1.38mi
4225 Jason Rd Spring Hill, FL	2.0	1.0	804	$1,300	$1.62	24d	1	1.38mi
4400 Millwood Rd Unit E Spring Hill, FL	2.0	1.5	864	$1,250	$1.45	24d	1	1.40mi
2634 Landover Blvd Spring Hill, FL	2.0	2.0	1021	$1,250	$1.22	17d	1	1.41mi
4253 Central Park Dr Spring Hill, FL	2.0–3.0	2.0	1107	$1,445	$1.31	1d	8	1.42mi
4283 Azora Rd Spring Hill, FL	3.0	2.0	1110	$1,600	$1.44	24d	1	1.43mi
1215 Gatewood Ave Spring Hill, FL	3.0	1.5	1000	$1,800	$1.80	24d	1	1.50mi

Listing history 8 events

1. 2026-05-08
   status Pending
2. 2026-05-07
   status Pending 179-char remark

   Show marketing remark (179 chars)

   2/2/1 home on almost 1/4 acre of land on quiet street. Master bedroom has walk in closet and bath, partially fenced yard and enclosed lanai. located close to schools and shopping.

3. 2026-04-22
   price $188,500 179-char remark

   Show marketing remark (179 chars)

   2/2/1 home on almost 1/4 acre of land on quiet street. Master bedroom has walk in closet and bath, partially fenced yard and enclosed lanai. located close to schools and shopping.

4. 2026-04-22
   price $188,500

   Show marketing remark (179 chars)

   2/2/1 home on almost 1/4 acre of land on quiet street. Master bedroom has walk in closet and bath, partially fenced yard and enclosed lanai. located close to schools and shopping.

5. 2026-04-07
   listed $194,900 Active 179-char remark

   Show marketing remark (179 chars)

   2/2/1 home on almost 1/4 acre of land on quiet street. Master bedroom has walk in closet and bath, partially fenced yard and enclosed lanai. located close to schools and shopping.

6. 2026-04-06
   listed $194,900 Active
7. 2011-11-23
   soldstatus $43,500 328-char remark

   Show marketing remark (328 chars)

   Great value on this 2 bedroom, 2 bathroom, 1 car garage home on almost 1/4 acre of land on a quiet street. Master bedroom has walkin closet and bath, enclosed lanai and partially fenced back yard. Conveniently located close to schools and shopping. Estate sale has this property priced to sell. 940 Living sqft, 1,440 Total sqft

8. 2011-08-02
   listed $50,000 328-char remark

   Show marketing remark (328 chars)

   Great value on this 2 bedroom, 2 bathroom, 1 car garage home on almost 1/4 acre of land on a quiet street. Master bedroom has walkin closet and bath, enclosed lanai and partially fenced back yard. Conveniently located close to schools and shopping. Estate sale has this property priced to sell. 940 Living sqft, 1,440 Total sqft

ⓘ 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: $2,474 · $206/mo
• Projected year-2 tax: $2,474 · $206/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 10/10 Extreme 7 d/yr ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $19,268
• − Mortgage interest: −$10,559
• − Property taxes: −$2,474
• − Insurance: −$942
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$5,484
• Taxable loss: −$3,275
• Est. tax savings @ 24.0%: +$786
• After-tax cash flow: $728/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): 36,658
• Household income: $64,345
• Rent vs Own: 19.6% rent · 80.4% own
• Severe rent burden: 647.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 18% Two or more races 11% Black 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 9% Cuban 3%
• Common ancestry: Slovak 4% Romanian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, Jamaica, China
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -99.94%
• Current HPI: 305.1933
• Rent YoY: ▼ -0.68%
• 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

+277.0% since first listed

8 events — show timeline

• 2026-05-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-07 Pending — HCAR
• 2026-04-22 Price Changed $188,500 HCAR
• 2026-04-22 Price Changed $188,500 Stellar MLS as Distributed by MLS Grid
• 2026-04-07 Listed $194,900 HCAR
• 2026-04-06 Listed $194,900 Stellar MLS as Distributed by MLS Grid
• 2011-11-23 Sold (MLS) $43,500 HCAR
• 2011-08-02 Listed $50,000 HCAR

Property tax history

+9.7%/yr

Latest (2025): $2,474 · +3.6% YoY. Source: county tax records.