33241 Westwood Dr · Ridge Manor, FL 33523

$207,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 16 Days on market

Built 1989 0.54 ac lot Est $224k · 7% 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 +28.8/30.0
• ARV discount +10.9/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.3/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

WOW. .. Unbelievable well-designed handcrafted hardwood ceilings. .. . This fantastic single level home on corner . 54 Acres MOL is move in ready. This home is the perfect balance of old & new with so much potential to add-on and grow. This 2 bed, 1 bath home has a massive lot, high vaulted ceilings in living room, kitchen is open to the dining room and living room. Kitchen features plenty of counterspace and cabinets with large island. Living room perfect for entertaining and the well-designed handcrafted hardwood ceilings is a feature worth seeing throughout the home. Dining room/eat-in kitchen has slider door that leads to a screen patio in the backyard which also is partially fence. Home is close to schools, food and shopping.

Key facts

• Open floor plan
• Vaulted ceilings
• Outdoor oasis

Tags

• COTTAGE STYLE RETREAT
• VAULTED CEILINGS
• OPEN FLOOR PLAN
• ENCLOSED PATIO
• CORNER LOT
• OUTDOOR OASIS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $207k.

Deal economics

• At list price, monthly cash flow is $693 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $207k).
• Recommended offer: $204k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 4.3% in Ridge Manor — 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 (#736 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; 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: Eastside Elementary School (math 37% / reading 32%, grade F, #1,709 of 2,144 statewide, top 81%, 737 students, 73% FRL); D. S. Parrott Middle School (math 40% / reading 40%, grade F, #368 of 571 statewide, top 65%, 835 students, 67% FRL).
• Zoned-school proficiency averages 37% at this address vs 50% district-wide (-13 pts) — the specific schools serving this property underperform the Hernando average; the district grade overstates school quality for this exact location.
• Market conditions: 295 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $58k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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.

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 $203,895 (1.5% 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: 1.23% ✓
• Cap rate: 10.31%
• Cash-on-cash: 14.35%
• DSCR: 1.64
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $223,776
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33241 Westwood Dr	0.00mi	2/1.0	1,008 (0%)	1mo	$207,000	$205	99
33357 Westwood Dr	0.22mi	2/2.0	1,000 (-1%)	11mo	$244,000	$244	75
33306 Ohio Ave	0.17mi	2/1.0	888 (-12%)	1mo	$197,500	$222	72
33243 Pennsylvania Ave	0.12mi	3/2.0 (+1)	960 (-5%)	18mo	$211,000	$220	62
33486 Westwood Dr	0.47mi	2/2.0	1,062 (+5%)	6mo	$270,000	$254	60
6114 Idle A While Cir	0.54mi	2/1.5	1,130 (+12%)	15mo	$230,000	$204	40
6034 Idle A While Cir	0.71mi	3/2.0 (+1)	1,100 (+9%)	18mo	$285,000	$259	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.9%
• Equity multiple: 3.71×
• Total profit: $156,864
• Equity at exit: $186,482

10-year hold

• IRR: 30.0%
• Equity multiple: 8.37×
• Total profit: $427,165
• Equity at exit: $402,155

Cash invested: $57,960 (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 33523

• Home prices YoY: 3.8%
• Active inventory: 295
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,554 medium
• Mortgage (P&I): −$1,086
• Tax from tax record: −$153 /mo · $1,835/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $693

Break-even live

Break-even rent $1,677

Max offer price $207,000

Occupancy floor 68%

Sensitivity live

Price	-10% $810	-5% $752	+0% $693	+5% $635	+10% $576
Rent	-10% $491	-5% $592	+0% $693	+5% $794	+10% $895
Rate	-1.0pp $797	-0.5pp $746	base $693	+0.5pp $640	+1.0pp $585

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: $51,750
• Closing costs: $6,210
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5431 Tower St Dade City, FL	2.0	1.5	1188	$2,000	$1.68	19d	1	0.51mi
34807 Evergreen Way Dade City, FL	3.0	1.0	1000	$1,900	$1.90	22d	1	1.43mi
34807 Evergreen Way Unit 1571614P Ridge Manor, FL	3.0	1.0	1076	$4,669	$4.34	1d	1	1.43mi

Listing history 16 events

1. 2026-04-06
   status Pending
2. 2026-04-02
   price $207,000
3. 2026-03-21
   listed $210,000 Active
4. 2021-08-12
   soldstatus $189,000
5. 2021-08-10
   soldstatus $189,000 Closed 746-char remark

   Show marketing remark (746 chars)

   WOW. .. Unbelievable well-designed handcrafted hardwood ceilings. .. . This fantastic single level home on corner . 54 Acres MOL is move in ready. This home is the perfect balance of old & new with so much potential to add-on and grow. This 2 bed, 1 bath home has a massive lot, high vaulted ceilings in living room, kitchen is open to the dining room and living room. Kitchen features plenty of counterspace and cabinets with large island. Living room perfect for entertaining and the well-designed handcrafted hardwood ceilings is a feature worth seeing throughout the home. Dining room/eat-in kitchen has slider door that leads to a screen patio in the backyard which also is partially fence. Home is close to schools, food and shopping.

6. 2021-07-09
   status Pending 746-char remark

   Show marketing remark (746 chars)

   WOW. .. Unbelievable well-designed handcrafted hardwood ceilings. .. . This fantastic single level home on corner . 54 Acres MOL is move in ready. This home is the perfect balance of old & new with so much potential to add-on and grow. This 2 bed, 1 bath home has a massive lot, high vaulted ceilings in living room, kitchen is open to the dining room and living room. Kitchen features plenty of counterspace and cabinets with large island. Living room perfect for entertaining and the well-designed handcrafted hardwood ceilings is a feature worth seeing throughout the home. Dining room/eat-in kitchen has slider door that leads to a screen patio in the backyard which also is partially fence. Home is close to schools, food and shopping.

7. 2021-07-07
   listed $189,000 Active 746-char remark

   Show marketing remark (746 chars)

   WOW. .. Unbelievable well-designed handcrafted hardwood ceilings. .. . This fantastic single level home on corner . 54 Acres MOL is move in ready. This home is the perfect balance of old & new with so much potential to add-on and grow. This 2 bed, 1 bath home has a massive lot, high vaulted ceilings in living room, kitchen is open to the dining room and living room. Kitchen features plenty of counterspace and cabinets with large island. Living room perfect for entertaining and the well-designed handcrafted hardwood ceilings is a feature worth seeing throughout the home. Dining room/eat-in kitchen has slider door that leads to a screen patio in the backyard which also is partially fence. Home is close to schools, food and shopping.

8. 2011-03-11
   soldstatus $22,000 317-char remark

   Show marketing remark (317 chars)

   Price Reduction of $10K!! Bank Owned. 2 Bedroom, 1 bath on over 1/2 acre, Corner Location, Expansive tile in Great Room with Large Kitchen featuring Center Island, Lots of Cabinetry, Stainless Steel Sink, Appliances need updating, extra 10x15 enclosed porch, concrete car parking pad. Located within minutes to I-75 .

9. 2011-02-04
   listed $29,900 317-char remark

   Show marketing remark (317 chars)

   Price Reduction of $10K!! Bank Owned. 2 Bedroom, 1 bath on over 1/2 acre, Corner Location, Expansive tile in Great Room with Large Kitchen featuring Center Island, Lots of Cabinetry, Stainless Steel Sink, Appliances need updating, extra 10x15 enclosed porch, concrete car parking pad. Located within minutes to I-75 .

10. 2011-02-03
    historical
11. 2010-07-30
    listed $39,900
12. 2010-06-21
    historical
13. 2008-10-30
    listed $67,000
14. 2005-08-01
    soldstatus $114,000
15. 2005-07-22
    soldstatus $114,000
16. 2005-06-14
    listed $119,000

ⓘ 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: $1,835 · $153/mo
• Projected year-2 tax: $1,835 · $153/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 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: $30,652
• − Mortgage interest: −$11,595
• − Property taxes: −$1,835
• − Insurance: −$1,035
• − Repairs & maintenance: −$2,452
• − Management: −$2,452
• − Depreciation: −$6,022
• Taxable income: $5,261
• Est. tax owed @ 24.0%: −$1,263
• After-tax cash flow: $7,056/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 — Ridge Manor

• Score: 63/100
• State rank: #736
• US rank: #15912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ridge Manor, FL
• Population (ZIP): 19,296

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 57% Hispanic / Latino 28% Black 10% Two or more races 10% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 5% Slovak 1% Romanian 1%
• Foreign-born: 13% · Canada, China, Jamaica
• Languages at home: 75% English-only · Spanish 21% Other Indo-European 2% Chinese 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: ▲ 16.36%
• Current HPI: 448.7
• 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

+73.9% since first listed

16 events — show timeline

• 2026-04-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $207,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-21 Listed $210,000 Stellar MLS as Distributed by MLS Grid
• 2021-08-12 Sold (Public Records) $189,000 Public Records
• 2021-08-10 Sold (MLS) $189,000 Stellar MLS as Distributed by MLS Grid
• 2021-07-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-07-07 Listed $189,000 Stellar MLS as Distributed by MLS Grid
• 2011-03-11 Sold (MLS) $22,000 Stellar MLS as Distributed by MLS Grid
• 2011-02-04 Listed $29,900 Stellar MLS as Distributed by MLS Grid
• 2011-02-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-07-30 Listed $39,900 Stellar MLS as Distributed by MLS Grid
• 2010-06-21 Listing Removed — HCAR
• 2008-10-30 Listed $67,000 HCAR
• 2005-08-01 Sold (Public Records) $114,000 Public Records
• 2005-07-22 Sold (MLS) $114,000 HCAR
• 2005-06-14 Listed $119,000 HCAR

Property tax history

+7.1%/yr

Latest (2025): $1,835 · -1.6% YoY. Source: county tax records.