5836 W Pine Cir · Homosassa Springs, FL 34429

$150,000

3 bd · 2.0 ba · 1,694 sqft · SingleFamily public records · 343 Days on market

Built 1976 0.36 ac lot Est $271k · 45% under

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Why this score? — see what drove the B- 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 +24.6/30.0
• ARV discount +15.0/15.0
• 1% rule +8.2/10.0
• DSCR +7.9/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Short Sale. This is the perfect investment property or dream home. Located in a highly sought-after area of Crystal River. Just a short drive from several restaurants, shopping centers, and entertainment venues. The Crystal River Preserve State Park and National Wildlife Refuge are a short distance away as well. Enjoy the freedom that comes with not having an HOA and the privacy of not having neighbors right on top of each other. The open-concept living room and dining area provide the perfect place to host guests. The kitchen has an ample amount of cabinet and counter space. All three bedrooms are spacious and both bathrooms are full-sized. With a few minor updates, the property can be mov

Key facts

• 0.36 acre lot
• 2 garage spots
• Built 1976

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 5.9% in Homosassa Springs — 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 71/100 on livability (#391 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools F, amenities 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.
• Market conditions: 325 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 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 $4k 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 343 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $110k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; list at $150k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 343 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 1.32% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.83%
• DSCR: 1.39
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $271,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5715 W Paul Bryant Dr	0.13mi	3/2.0	1,627 (-4%)	7mo	$255,000	$157	82
915 N Fox Meadow Ter	0.30mi	3/2.0	1,738 (+3%)	8mo	$320,000	$184	75
915 N Fox Meadow Ter	0.30mi	3/2.0	1,738 (+3%)	8mo	$320,000	$184	75
5811 W Meadowpark Ln	0.17mi	3/2.0	1,805 (+7%)	8mo	$310,000	$172	75
5901 W Woodside Dr	0.07mi	3/2.0	1,542 (-9%)	8mo	$251,000	$163	75
896 N Hollywood Cir	0.38mi	3/2.0	1,597 (-6%)	7mo	$223,500	$140	67
807 N Hollywood Cir	0.27mi	4/3.0 (+1)	1,800 (+6%)	5mo	$255,000	$142	64
5694 W Hunters Ridge Cir	0.56mi	2/2.0 (-1)	1,634 (-4%)	2mo	$220,000	$135	61
322 N Turkey Pine Loop	0.67mi	3/2.0	1,761 (+4%)	8mo	$255,000	$145	56
5906 W Leith Ct	0.69mi	3/2.0	1,533 (-10%)	1mo	$245,000	$160	51
5961 W Douneray Loop	0.71mi	3/2.0	1,919 (+13%)	3mo	$250,000	$130	43
176 N Crystal Meadow Path	0.74mi	3/3.0	1,905 (+12%)	8mo	$415,000	$218	34

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: -2.8%
• Equity multiple: 0.89×
• Total profit: $-4,466
• Equity at exit: $22,365

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $22,105
• Equity at exit: $12,969

Cash invested: $42,000 (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 34429

• Home prices YoY: -17.8%
• Active inventory: 325
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,973 high
• Mortgage (P&I): −$787
• Tax from tax record: −$400 /mo · $4,804/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $309

Break-even live

Break-even rent $1,582

Max offer price $150,000

Occupancy floor 79%

Sensitivity live

Price	-10% $394	-5% $351	+0% $309	+5% $267	+10% $224
Rent	-10% $153	-5% $231	+0% $309	+5% $387	+10% $465
Rate	-1.0pp $385	-0.5pp $347	base $309	+0.5pp $270	+1.0pp $231

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6384 W Flanders Ln Crystal River, FL	3.0	2.0	1800	$2,250	$1.25	21d	1	0.66mi
271 N Lombardy Pt Lecanto, FL	2.0	2.0	1809	$1,500	$0.83	21d	1	0.78mi
1165 N Commerce Ter Lecanto, FL	3.0	2.5	1697	$1,800	$1.06	21d	1	0.82mi
31 N Pizarro Pt Lecanto, FL	2.0	2.0	2011	$2,395	$1.19	21d	1	0.96mi
5085 W Kristina Loop Lecanto, FL	2.0	2.0	1227	$1,800	$1.47	21d	1	0.98mi
6084 W Fairhaven Ct Crystal River, FL	2.0	2.0	1545	$2,200	$1.42	21d	1	1.15mi
5926 W Poplar Springs Cir Unit 2101 Crystal River, FL	3.0	2.0	1200	$1,895	$1.58	21d	1	1.28mi

Listing history 34 events

1. 2026-06-19
   days on market $150,000 Active 343 DOM
2. 2026-06-18
   days on market $150,000 Active 342 DOM
3. 2026-06-17
   days on market $150,000 Active 341 DOM
4. 2026-06-16
   days on market $150,000 Active 340 DOM
5. 2026-06-15
   days on market $150,000 Active 339 DOM
6. 2026-06-14
   days on market $150,000 Active 337 DOM
7. 2026-06-13
   days on market $150,000 Active 336 DOM
8. 2026-06-09
   days on market $150,000 Active 333 DOM
9. 2026-06-08
   days on market $150,000 Active 332 DOM
10. 2026-06-03
    days on market $150,000 Active 327 DOM
11. 2026-06-02
    days on market $150,000 Active 326 DOM
12. 2026-06-01
    days on market $150,000 Active 325 DOM
13. 2026-05-31
    days on market $150,000 Active 324 DOM
14. 2026-05-30
    days on market $150,000 Active 323 DOM
15. 2026-03-17
    status Pending
16. 2026-02-10
    status Active
17. 2026-01-14
    status Pending
18. 2025-12-30
    status Active
19. 2025-12-23
    status Pending
20. 2025-11-06
    status Active
21. 2025-03-27
    status Pending
22. 2025-03-14
    price $150,000
23. 2025-03-04
    price $190,000
24. 2025-02-12
    price $200,000
25. 2025-01-31
    price $210,000
26. 2025-01-21
    price $215,000
27. 2024-10-24
    price $220,000
28. 2024-10-09
    price $230,000
29. 2024-09-18
    price $240,000
30. 2024-09-05
    price $250,000
31. 2024-08-14
    listed $260,000 Active
32. 2003-09-04
    soldstatus $94,500
33. 1989-02-01
    soldstatus $58,000
34. 1979-11-01
    soldstatus $58,000

ⓘ 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: $4,804 · $400/mo
• Projected year-2 tax: $4,804 · $400/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,672
• − Mortgage interest: −$8,402
• − Property taxes: −$4,804
• − Insurance: −$750
• − Repairs & maintenance: −$1,894
• − Management: −$1,894
• − Depreciation: −$4,364
• Taxable income: $1,565
• Est. tax owed @ 24.0%: −$376
• After-tax cash flow: $3,332/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 — Homosassa Springs

• Score: 71/100
• State rank: #391
• US rank: #6877

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,494

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 (88%)
• Race & ethnicity: White 88% Black 5% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 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: ▼ -58.92%
• Current HPI: 271.3171
• 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

+158.6% since first listed

20 events — show timeline

• 2026-03-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-10 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-12-30 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-11-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-03-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-03-14 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-04 Price Changed $190,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-12 Price Changed $200,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-31 Price Changed $210,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-21 Price Changed $215,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-24 Price Changed $220,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-09 Price Changed $230,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-18 Price Changed $240,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-05 Price Changed $250,000 Stellar MLS as Distributed by MLS Grid
• 2024-08-14 Listed $260,000 Stellar MLS as Distributed by MLS Grid
• 2003-09-04 Sold (Public Records) $94,500 Public Records
• 1989-02-01 Sold (Public Records) $58,000 Public Records
• 1979-11-01 Sold (Public Records) $58,000 Public Records

Property tax history

+20.7%/yr

Latest (2025): $4,804 · +1.3% YoY. Source: county tax records.