15 Captains Cove Rd · Inglis, FL 34449

$350,000

4 bd · 3.0 ba · 2,013 sqft · SingleFamily public records

Built 1998 Est $407k · 14% 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 +29.0/30.0
• ARV discount +13.8/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Appreciation +7.0/10.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nestled along the peaceful waterfront community of Captains Cove, this charming coastal retreat offers the laid back Florida lifestyle so many buyers are searching for. Located at 15 Captains Cove Rd in Inglis, this home combines privacy, character, and water access with the kind of setting that makes every day feel like a getaway. Situated on a spacious lot with room to relax and entertain, the property offers the perfect blend of Old Florida charm and functional living. Whether enjoying quiet mornings outdoors, spending time on the water, or simply appreciating the slower pace of life, this home delivers a unique opportunity for full time living, seasonal use, or a weekend escape. Conveniently located near the Gulf, fishing, boating, local marinas, and natural springs, this property places you in the heart of some of Florida’s best outdoor recreation while still offering a peaceful residential setting. A memorable transaction from start to finish, this home represented more than just a sale. It marked the beginning of a new chapter for both the buyers and sellers, bringing together a military family ready to plant roots after decades of moving and sellers preparing for the next phase of life.

Key facts

• Built 1998

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $773 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 10.4% vs local median 5.1% in Inglis — 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 61/100 on livability (#796 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Levy (rural): math 45% / reading 43% proficiency, ranked #54 of 73 in FL (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 81 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 199 units permitted in Levy County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($2k loan paydown + $14k appreciation (4.0% local appreciation)).
• Levy County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $350,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
5. 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.
6. 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: 1.26% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.69%
• DSCR: 1.65
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $406,626
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Captains Cove Rd	0.03mi	3/2.5 (-1)	2,012 (-0%)	3mo	$360,000	$179	89
34 Aragon Dr	0.28mi	3/2.5 (-1)	1,983 (-2%)	3mo	$400,000	$202	75
4702 Highway 40 W	0.67mi	3/2.0 (-1)	1,994 (-1%)	2mo	$400,000	$201	56
48 Azalee Ave	0.63mi	3/2.0 (-1)	1,714 (-15%)	8mo	$290,000	$169	30
4729 Riverside Dr	0.72mi	3/2.0 (-1)	1,858 (-8%)	21mo	$575,000	$309	27
40 Lee Ter	0.60mi	3/2.0 (-1)	1,753 (-13%)	23mo	$360,000	$205	22

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

Projected returns pro-forma

4.03% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 2.13×
• Total profit: $111,081
• Equity at exit: $178,064

10-year hold

• IRR: 19.4%
• Equity multiple: 4.10×
• Total profit: $303,838
• Equity at exit: $291,725

Cash invested: $98,000 (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 34449

• Home prices YoY: 1.3%
• Active inventory: 81
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $4,400 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$295 /mo · $3,543/yr
• Insurance: −$146
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$924
• Net cashflow: $773

Break-even live

Break-even rent $3,422

Max offer price $350,000

Occupancy floor 77%

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 River Trail Dr Inglis, FL	3.0	2.5	1540	$4,400	$2.86	21d	1	1.31mi

Listing history 12 events

1. 2026-05-26
   listed $350,000
2. 2026-05-18
   soldstatus $362,000 1219-char remark

   Show marketing remark (1219 chars)

   Nestled along the peaceful waterfront community of Captains Cove, this charming coastal retreat offers the laid back Florida lifestyle so many buyers are searching for. Located at 15 Captains Cove Rd in Inglis, this home combines privacy, character, and water access with the kind of setting that makes every day feel like a getaway. Situated on a spacious lot with room to relax and entertain, the property offers the perfect blend of Old Florida charm and functional living. Whether enjoying quiet mornings outdoors, spending time on the water, or simply appreciating the slower pace of life, this home delivers a unique opportunity for full time living, seasonal use, or a weekend escape. Conveniently located near the Gulf, fishing, boating, local marinas, and natural springs, this property places you in the heart of some of Florida’s best outdoor recreation while still offering a peaceful residential setting. A memorable transaction from start to finish, this home represented more than just a sale. It marked the beginning of a new chapter for both the buyers and sellers, bringing together a military family ready to plant roots after decades of moving and sellers preparing for the next phase of life.

3. 2026-05-18
   listed $362,000 1219-char remark

   Show marketing remark (1219 chars)

   Nestled along the peaceful waterfront community of Captains Cove, this charming coastal retreat offers the laid back Florida lifestyle so many buyers are searching for. Located at 15 Captains Cove Rd in Inglis, this home combines privacy, character, and water access with the kind of setting that makes every day feel like a getaway. Situated on a spacious lot with room to relax and entertain, the property offers the perfect blend of Old Florida charm and functional living. Whether enjoying quiet mornings outdoors, spending time on the water, or simply appreciating the slower pace of life, this home delivers a unique opportunity for full time living, seasonal use, or a weekend escape. Conveniently located near the Gulf, fishing, boating, local marinas, and natural springs, this property places you in the heart of some of Florida’s best outdoor recreation while still offering a peaceful residential setting. A memorable transaction from start to finish, this home represented more than just a sale. It marked the beginning of a new chapter for both the buyers and sellers, bringing together a military family ready to plant roots after decades of moving and sellers preparing for the next phase of life.

4. 2020-05-19
   historical
5. 2020-04-03
   soldstatus $217,000
6. 2020-04-02
   soldstatus $217,000
7. 2019-12-30
   listed $229,900
8. 2019-06-27
   listed $232,000
9. 2006-05-01
   soldstatus $249,500
10. 2006-04-17
    soldstatus $249,500
11. 2005-12-28
    listed $268,500
12. 1994-05-01
    soldstatus $19,000

ⓘ 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: $3,543 · $295/mo
• Projected year-2 tax: $3,543 · $295/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 8/10 Severe FEMA zone AE · 96% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 25 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: $52,800
• − Mortgage interest: −$19,605
• − Property taxes: −$3,543
• − Insurance: −$6,868
• − Repairs & maintenance: −$4,224
• − Management: −$4,224
• − Depreciation: −$10,182
• Taxable income: $4,153
• Est. tax owed @ 24.0%: −$997
• After-tax cash flow: $8,279/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: Levy
• NCES district ID: 1201140
• Math proficiency: 45% ▼ -8.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $35,254
• Composite: 36.42/100
• National rank: #4673
• State rank: #54 of 73 in FL

Livability — Inglis

• Score: 61/100
• State rank: #796
• US rank: #18314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Inglis, FL
• Population (ZIP): 3,508

Population outlook (Levy County) Hauer SSP2

• Today (2025): 36,536 people
• By 2030: 34,498 · -5.6%
• By 2040: 30,294 · -17.1%
• By 2050: 26,368 · -27.8%
• By 2075: 19,003 · -48.0%
• By 2100: 13,169 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 2%
• Foreign-born: 2% · Canada, Guatemala
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Levy

• 2024 margin: Solid R (+50.3) · D 24.6% · R 74.8%
• 2008→2024 swing: -23.3pp toward R · 2008: -26.9pp · 2024: -50.3pp
• All cycles: 2024: R+50.3 2020: R+45.6 2016: R+44.8 2012: R+32.2 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.03%
• Current HPI: 319.0929
• 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

+1742.1% since first listed

12 events — show timeline

• 2026-05-26 Listed $350,000 FSBO.com
• 2026-05-18 Listed $362,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-18 Sold (MLS) $362,000 Stellar MLS as Distributed by MLS Grid
• 2020-05-19 Listing Removed — HCAR
• 2020-04-03 Sold (Public Records) $217,000 Public Records
• 2020-04-02 Sold (MLS) $217,000 Stellar MLS as Distributed by MLS Grid
• 2019-12-30 Listed $229,900 Stellar MLS as Distributed by MLS Grid
• 2019-06-27 Listed $232,000 HCAR
• 2006-05-01 Sold (Public Records) $249,500 Public Records
• 2006-04-17 Sold (MLS) $249,500 RACC
• 2005-12-28 Listed $268,500 RACC
• 1994-05-01 Sold (Public Records) $19,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $3,543 · +6.6% YoY. Source: county tax records.