3274 Windjammer Dr · Spring Hill, FL 34607

$181,875

2 bd · 2.0 ba · 1,334 sqft · Manufactured · 360 Days on market

Built 2025 Est $181k · at est.

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Why this score? — see what drove the C 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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.4/15.0
• 1% rule +6.2/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Large kitchen island
• Open floor plan
• Glass french doors

Tags

• OPEN FLOOR PLAN
• LARGE KITCHEN ISLAND
• MASTER BATH ENSUITE
• GLASS FRENCH DOORS
• INSIDE LAUNDRY

Property features AI

Finance

• Other: Active listing (last modified 2026-05-21)
• Financial info: List price $181,875

Exterior

• Parking: 2 parking spaces
• Utilities: Natural gas; Electric cooling (central air); Ceiling fans
• Home design: Spec-built plan named "The Imperial"; Living area of 1334
• Exterior features: Shake roof

Interior

• Kitchen: Includes dishwasher, disposal, microwave, refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas and heat pump heating; Central air; Ceiling fan(s)
• Interior features: Dishwasher; Disposal; Microwave; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $182k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $182k).
• Recommended offer: $160k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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.
• Market conditions: 347 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $5k 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 360 days — a 12% lower offer ($160k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,050 (12.0% below list)

Questions for the listing agent

1. It's been on market 360 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.12% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.26%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $181,424
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3382 Fiskway St	0.64mi	3/2.0 (+1)	1,248 (-6%)	10mo	$169,900	$136	46
3307 Keye Dr	0.69mi	2/2.0	1,144 (-14%)	4mo	$240,000	$210	41
7094 Sealawn Dr	0.61mi	3/2.0 (+1)	1,512 (+13%)	16mo	$182,000	$120	31

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-7,109
• Equity at exit: $27,118

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $22,690
• Equity at exit: $15,725

Cash invested: $50,925 (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 34607

• Home prices YoY: -9.1%
• Active inventory: 347
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,035 high
• Mortgage (P&I): −$954
• Tax est. 1.5%: −$227 /mo · $2,728/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $351

Break-even live

Break-even rent $1,591

Max offer price $181,875

Occupancy floor 78%

Sensitivity live

Price	-10% $476	-5% $413	+0% $351	+5% $288	+10% $225
Rent	-10% $190	-5% $270	+0% $351	+5% $431	+10% $511
Rate	-1.0pp $442	-0.5pp $397	base $351	+0.5pp $303	+1.0pp $256

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: $45,469
• Closing costs: $5,456
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7272 Apache Trl Spring Hill, FL	3.0	2.0	1408	$2,650	$1.88	25d	1	0.93mi
7369 Sealawn Dr Spring Hill, FL	2.0	2.0	1154	$2,500	$2.17	4d	1	1.11mi
7410 Cherokee Trl Spring Hill, FL	3.0	2.0	1196	$1,725	$1.44	13d	1	1.19mi
7423 Apache Trl Spring Hill, FL	3.0	2.0	1711	$2,200	$1.29	25d	1	1.20mi
7423 Mohawk Trl Spring Hill, FL	3.0	2.0	1114	$1,795	$1.61	18d	1	1.25mi
7483 Apache Trl Spring Hill, FL	3.0	2.0	1587	$1,795	$1.13	5d	1	1.33mi
4398 Plumosa St Spring Hill, FL	3.0	2.0	1646	$1,985	$1.21	25d	1	1.41mi
4300 Bridgewater Club Loop Spring Hill, FL	2.0–3.0	2.0	1078	$1,268	$1.18	0d	13	1.41mi
4108 Monona Ave Spring Hill, FL	3.0	2.0	1508	$1,900	$1.26	25d	1	1.43mi

Listing history 14 events

1. 2026-06-18
   days on market $181,875 Active 360 DOM
2. 2026-06-17
   days on market $181,875 Active 359 DOM
3. 2026-06-16
   days on market $181,875 Active 358 DOM
4. 2026-06-15
   days on market $181,875 Active 357 DOM
5. 2026-06-13
   days on market $181,875 Active 355 DOM
6. 2026-06-13
   days on market $181,875 Active 354 DOM
7. 2026-06-09
   days on market $181,875 Active 351 DOM
8. 2026-06-08
   days on market $181,875 Active 350 DOM
9. 2026-06-07
   days on market $181,875 Active 349 DOM
10. 2026-06-04
    days on market $181,875 Active 346 DOM
11. 2026-06-03
    days on market $181,875 Active 345 DOM
12. 2026-06-02
    days on market $181,875 Active 344 DOM
13. 2026-06-01
    days on market $181,875 Active 343 DOM
14. 2026-05-31
    days on market $181,875 Active 342 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 59% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,418
• − Mortgage interest: −$10,188
• − Property taxes: −$2,728
• − Insurance: −$909
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − Depreciation: −$5,291
• Taxable income: $1,395
• Est. tax owed @ 24.0%: −$335
• After-tax cash flow: $3,873/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

• City population: 83,915
• Population (ZIP): 9,046

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 14% Two or more races 6% Black 2%
• Hispanic origin (detail): Puerto Rican 8% Cuban 2%
• Common ancestry: Romanian 4% Lithuanian 3% Iranian 2%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 7% Arabic 1% German/W. Germanic 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: ▼ -56.89%
• Current HPI: 567.35
• 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