10315 E Pike Dr · Inverness, FL 34450

$137,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 118 Days on market

Built 1973 8,572 sqft lot Est $161k · 15% 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 +30.0/30.0
• ARV discount +14.3/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come claim your waterfront property NOW! Deep canal front property leading to the Inverness chain of Lakes, downtown Inverness, and local waterfront restaurants without ever getting in a car! Fish from your back yard or launch your boat in the ramp a few blocks away. Either way, you can make this home yours for seasonal visits to the area or give it your touch to make it your home.

Key facts

• Launch your boat
• Waterfront property
• 8,572 sq ft lot

Tags

• WATERFRONT PROPERTY
• DEEP CANAL FRONT PROPERTY
• INVERNESS CHAIN OF LAKES
• FISH FROM YOUR BACK YARD
• LAUNCH YOUR BOAT

Property features AI

Finance

• Other: Lot approximately 0.2 acres (85 x 86); Public records list living area as 1,152; Canal frontage approximately 85 feet; Asphalt road access
• Financial info: Property classified as residential manufactured home; Homestead status indicated
• HOA & community: No HOA / association indicated

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Well water; Septic tank; Electricity available
• Home design: Manufactured home (double wide); Single-story; Faces north
• Construction: Metal siding; Metal roof; Other foundation
• Exterior features: Storage; Canal frontage (freshwater canal); Water access to canal; Water view (canal)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: No additional interior features listed
• Laundry & utility: Washer; Dryer; Electric water heater; Laundry located inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $137k.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $137k).
• Recommended offer: $125k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.9% in Inverness — 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 67/100 on livability (#564 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety C-, amenities F, commute 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.
• Zoned schools: Inverness Primary School (math 54% / reading 55%, grade C, #892 of 2,144 statewide, top 44%, 683 students, 65% FRL); Citrus High School (math 34% / reading 51%, grade F, #264 of 667 statewide, top 41%, 1,503 students, 54% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 208 active listings in the ZIP; 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 $947 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $18k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $137k implies a 174% 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; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,670 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.33% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.42%
• DSCR: 1.77
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $161,280
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10025 E Perch Ct	0.27mi	2/2.0 (-1)	1,281 (+11%)	4mo	$171,500	$134	61
9936 E Perch Ct	0.29mi	2/1.0 (-1)	1,045 (-9%)	3mo	$146,000	$140	59
10029 E Perch Ct	0.26mi	2/2.0 (-1)	1,024 (-11%)	8mo	$155,900	$152	58
10519 E Hope Ct	0.57mi	3/2.0	1,248 (+8%)	21mo	$160,000	$128	42

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: 8.8%
• Equity multiple: 1.35×
• Total profit: $13,249
• Equity at exit: $20,427

10-year hold

• IRR: 18.0%
• Equity multiple: 2.49×
• Total profit: $57,157
• Equity at exit: $11,845

Cash invested: $38,360 (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 34450

• Home prices YoY: -18.7%
• Active inventory: 208
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,827 medium
• Mortgage (P&I): −$718
• Tax from tax record: −$111 /mo · $1,331/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $557

Break-even live

Break-even rent $1,122

Max offer price $137,000

Occupancy floor 65%

Sensitivity live

Price	-10% $634	-5% $596	+0% $557	+5% $518	+10% $479
Rent	-10% $412	-5% $485	+0% $557	+5% $629	+10% $701
Rate	-1.0pp $626	-0.5pp $592	base $557	+0.5pp $521	+1.0pp $485

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $137,000 Active 118 DOM
2. 2026-06-18
   days on market $137,000 Active 117 DOM
3. 2026-06-17
   days on market $137,000 Active 116 DOM
4. 2026-06-16
   days on market $137,000 Active 115 DOM
5. 2026-06-15
   days on market $137,000 Active 114 DOM
6. 2026-06-14
   days on market $137,000 Active 112 DOM
7. 2026-06-13
   days on market $137,000 Active 111 DOM
8. 2026-06-09
   days on market $137,000 Active 108 DOM
9. 2026-06-08
   days on market $137,000 Active 107 DOM
10. 2026-06-03
    days on market $137,000 Active 102 DOM
11. 2026-06-02
    days on market $137,000 Active 101 DOM
12. 2026-06-01
    days on market $137,000 Active 100 DOM
13. 2026-05-31
    days on market $137,000 Active 99 DOM
14. 2026-05-30
    days on market $137,000 Active 98 DOM
15. 2026-05-19
    price $137,000 384-char remark

    Show marketing remark (384 chars)

    Come claim your waterfront property NOW! Deep canal front property leading to the Inverness chain of Lakes, downtown Inverness, and local waterfront restaurants without ever getting in a car! Fish from your back yard or launch your boat in the ramp a few blocks away. Either way, you can make this home yours for seasonal visits to the area or give it your touch to make it your home.

16. 2026-05-19
    price $137,000

    Show marketing remark (384 chars)

    Come claim your waterfront property NOW! Deep canal front property leading to the Inverness chain of Lakes, downtown Inverness, and local waterfront restaurants without ever getting in a car! Fish from your back yard or launch your boat in the ramp a few blocks away. Either way, you can make this home yours for seasonal visits to the area or give it your touch to make it your home.

17. 2026-04-07
    status Active 384-char remark

    Show marketing remark (384 chars)

    Come claim your waterfront property NOW! Deep canal front property leading to the Inverness chain of Lakes, downtown Inverness, and local waterfront restaurants without ever getting in a car! Fish from your back yard or launch your boat in the ramp a few blocks away. Either way, you can make this home yours for seasonal visits to the area or give it your touch to make it your home.

18. 2026-04-07
    status Pending 384-char remark

    Show marketing remark (384 chars)

    Come claim your waterfront property NOW! Deep canal front property leading to the Inverness chain of Lakes, downtown Inverness, and local waterfront restaurants without ever getting in a car! Fish from your back yard or launch your boat in the ramp a few blocks away. Either way, you can make this home yours for seasonal visits to the area or give it your touch to make it your home.

19. 2026-03-12
    price $140,000 384-char remark

    Show marketing remark (384 chars)

    Come claim your waterfront property NOW! Deep canal front property leading to the Inverness chain of Lakes, downtown Inverness, and local waterfront restaurants without ever getting in a car! Fish from your back yard or launch your boat in the ramp a few blocks away. Either way, you can make this home yours for seasonal visits to the area or give it your touch to make it your home.

20. 2026-03-12
    price $140,000

    Show marketing remark (384 chars)

    Come claim your waterfront property NOW! Deep canal front property leading to the Inverness chain of Lakes, downtown Inverness, and local waterfront restaurants without ever getting in a car! Fish from your back yard or launch your boat in the ramp a few blocks away. Either way, you can make this home yours for seasonal visits to the area or give it your touch to make it your home.

21. 2026-02-21
    listed $155,000 Active
22. 2026-02-18
    listed $155,000 Active 384-char remark

    Show marketing remark (384 chars)

    Come claim your waterfront property NOW! Deep canal front property leading to the Inverness chain of Lakes, downtown Inverness, and local waterfront restaurants without ever getting in a car! Fish from your back yard or launch your boat in the ramp a few blocks away. Either way, you can make this home yours for seasonal visits to the area or give it your touch to make it your home.

23. 2015-04-02
    soldstatus $50,000
24. 2015-04-01
    soldstatus $50,000 440-char remark

    Show marketing remark (440 chars)

    It's all about the water! Boating, fishing, nature watching, you can find it here at East CoveAn enclosed Sun room that faces the water which is a open wide canal just minutes away from the chain of Tsala Apopka chain of lakes. Sit on the dock and enjoy the wildlife or take a lazy cruise & to the bird sanctuary. Make this your home or weekend retreat. Close to shopping, golf courses, aand hospitals. Located about 15 miles from I-75

25. 2014-05-05
    listed $47,900 440-char remark

    Show marketing remark (440 chars)

    It's all about the water! Boating, fishing, nature watching, you can find it here at East CoveAn enclosed Sun room that faces the water which is a open wide canal just minutes away from the chain of Tsala Apopka chain of lakes. Sit on the dock and enjoy the wildlife or take a lazy cruise & to the bird sanctuary. Make this your home or weekend retreat. Close to shopping, golf courses, aand hospitals. Located about 15 miles from I-75

26. 1995-02-02
    soldstatus $38,500
27. 1977-04-01
    soldstatus $10,700

ⓘ 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: $1,331 · $111/mo
• Projected year-2 tax: $1,331 · $111/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 23 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: $21,922
• − Mortgage interest: −$7,674
• − Property taxes: −$1,331
• − Insurance: −$685
• − Repairs & maintenance: −$1,754
• − Management: −$1,754
• − Depreciation: −$3,985
• Taxable income: $4,739
• Est. tax owed @ 24.0%: −$1,137
• After-tax cash flow: $5,544/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 — Inverness

• Score: 67/100
• State rank: #564
• US rank: #10791

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 10,621
• Population (ZIP): 10,408

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 (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 8% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 3% 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: ▼ -72.56%
• Current HPI: 315.9725
• 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

+1180.4% since first listed

13 events — show timeline

• 2026-05-19 Price Changed $137,000 RACC
• 2026-05-19 Price Changed $137,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-07 Relisted — RACC
• 2026-04-07 Pending — RACC
• 2026-03-12 Price Changed $140,000 RACC
• 2026-03-12 Price Changed $140,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-21 Listed $155,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-18 Listed $155,000 RACC
• 2015-04-02 Sold (Public Records) $50,000 Public Records
• 2015-04-01 Sold (MLS) $50,000 RACC
• 2014-05-05 Listed $47,900 RACC
• 1995-02-02 Sold (Public Records) $38,500 Public Records
• 1977-04-01 Sold (Public Records) $10,700 Public Records

Property tax history

+22.0%/yr

Latest (2025): $1,331 · +8.4% YoY. Source: county tax records.