12421 N Handy Ter · Dunnellon, FL 34433

$45,800

3 bd · 1.0 ba · 766 sqft · Other public records · 73 Days on market

Built 1950 5,811 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.8/10.0

Listing remarks

This is a unique property in Dunnellon, Citrus County. PROBATE is still Pending. It is approximately 535' on the southwest side of the Withlacoochee River. The location is zoned General Commercial. Examples of businesses that could be located in this area are vacation cottage, canoe and kayak rentals, food store, pharmacy, clothing store, hardware store, hair salon, auto repair shop, florist and real estate office. The building on this property is a fixer. It was built in 1950 and has not had upgrades and is in poor condition. It was originally used as a 3 bedroom residence and with some work, it could become an income property in a convenient location. Downtown Dunnellon is only five minu

Key facts

• Easy access
• Fixer
• Income property

Tags

• ZONED GENERAL COMMERCIAL
• FIXER
• INCOME PROPERTY
• CONVENIENT LOCATION
• BOAT RAMP
• EASY ACCESS

Property features AI

Finance

• Other: Unfurnished; Previously pending status; Total living area approximately 766 square feet; Total building area approximately 990 square feet
• Financial info: No lease restrictions reported
• HOA & community: No HOA

Exterior

• Parking: No parking details listed
• Security: No security features listed
• Utilities: Well water; Septic tank; Electricity available
• Home design: Single-family residence; One story; Faces east; Residential property
• Construction: Stucco exterior; Shingle roof; Crawlspace and stem wall foundation; Built on a lot approximately 0.13 acres (90 x 110)
• Exterior features: Front porch; Rear porch; Paved road access

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms
• Flooring: Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: No interior features listed
• Laundry & utility: No laundry features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $46k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $46k).
• Recommended offer: $43k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#443 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D+, 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.
• Market conditions: 642 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 $317 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $43,052 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 3.87% ✓
• Cap rate: 35.79%
• Cash-on-cash: 105.36%
• DSCR: 5.69
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.01×
• Total profit: $64,293
• Equity at exit: $6,829

10-year hold

• IRR: —
• Equity multiple: 12.57×
• Total profit: $148,332
• Equity at exit: $3,960

Cash invested: $12,824 (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 34433

• Home prices YoY: -1.8%
• Active inventory: 642
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,773 medium
• Mortgage (P&I): −$240
• Tax from tax record: −$16 /mo · $190/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $1,126

Break-even live

Break-even rent $348

Max offer price $45,800

Occupancy floor 32%

Sensitivity live

Price	-10% $1,152	-5% $1,139	+0% $1,126	+5% $1,113	+10% $1,100
Rent	-10% $986	-5% $1,056	+0% $1,126	+5% $1,196	+10% $1,266
Rate	-1.0pp $1,149	-0.5pp $1,138	base $1,126	+0.5pp $1,114	+1.0pp $1,102

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: $11,450
• Closing costs: $1,374
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-08
   days on market $45,800 Active 73 DOM
2. 2026-06-07
   days on market $45,800 Active 72 DOM
3. 2026-06-03
   days on market $45,800 Active 68 DOM
4. 2026-06-02
   days on market $45,800 Active 67 DOM
5. 2026-06-01
   days on market $45,800 Active 66 DOM
6. 2026-05-31
   days on market $45,800 Active 65 DOM
7. 2026-05-30
   days on market $45,800 Active 64 DOM
8. 2026-04-26
   status Active
9. 2026-01-15
   status Pending
10. 2026-01-13
    status Active
11. 2026-01-08
    status Pending
12. 2026-01-02
    price $45,800
13. 2025-12-11
    listed $45,000 Active

ⓘ 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: $190 · $16/mo
• Projected year-2 tax: $380 · $32/mo
• Expected delta: +$190/yr (+$16/mo · 100.1%)

ⓘ 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 9/10 Extreme 7 d/yr ≥106°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,282
• − Mortgage interest: −$2,566
• − Property taxes: −$190
• − Insurance: −$229
• − Repairs & maintenance: −$1,703
• − Management: −$1,703
• − Depreciation: −$1,332
• Taxable income: $13,560
• Est. tax owed @ 24.0%: −$3,254
• After-tax cash flow: $10,257/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 — Dunnellon

• Score: 70/100
• State rank: #443
• US rank: #7922

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 20,859
• Population (ZIP): 8,218

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 13%
• Hispanic origin (detail): Puerto Rican 6% Cuban 1%
• Common ancestry: Italian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 90% English-only · Spanish 9% Other Indo-European 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: ▼ -6.35%
• Current HPI: 340.9844
• 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

+1.8% since first listed

6 events — show timeline

• 2026-04-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-13 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-02 Price Changed $45,800 Stellar MLS as Distributed by MLS Grid
• 2025-12-11 Listed $45,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2017): $190 · +8.0% YoY. Source: county tax records.