6396 W Cannondale Dr · Lecanto, FL 34429

$179,000

2 bd · 2.0 ba · 1,062 sqft · Condo public records · 122 Days on market

Built 1999 $374/mo HOA · 21% of rent ↓ 5% since listing

---

Why this score? — see what drove the D 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 +12.7/30.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Schools +4.1/10.0
• DSCR +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Offering one of the most popular floor plans in Fox Hollow, this pretty villa is an excellent choice for those that love the carefree Florida life style. The eat-in kitchen is cozy and offers stainless appliances, a breakfast bar and a pantry. The roomy living room overlooks a backyard with trees and plenty of space for growing Florida's many gorgeous flowers and bushes. There are two closets in the master, one a walk-in, and the bath is just steps away. Guests will find the guest room very comfortable with the bath complete with a walk-in shower. There's a newer washer and dryer in the inside laundry room as well as a large walk-in utiity closet. Step into the Florida room and enjoy a sip

Key facts

• Pantry
• Stainless appliances
• Living room

Tags

• EAT-IN KITCHEN
• STAINLESS APPLIANCES
• BREAKFAST BAR
• PANTRY
• LIVING ROOM
• BACKYARD

Property features AI

Finance

• Other: Pets allowed with breed restrictions
• HOA & community: Homeowners association with monthly fee of $374; HOA covers cable TV, grounds maintenance, pest control, and trash; Community amenities include pool, clubhouse, playground, park, street lights, and tennis courts

Exterior

• Parking: Attached 2-car garage with garage door opener; Driveway; Concrete surfaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Underground utilities
• Home design: Single-family residence; Residential property; Stucco exterior
• Construction: Stucco construction; Asphalt shingle roof; Block foundation; Built with typical single-family design
• Exterior features: Sliding doors; Landscaped lot; Level lot; Wooded; Paved private road; Private maintained road

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator; Disposal; Breakfast bar; Pantry; Eat-in kitchen
• Bedrooms: Walk-in closet(s)
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Eat-in kitchen; Laminate counters; Open floor plan; Pantry; Walk-in closet(s); High-speed internet; Blinds and drapes/window treatments; Smoke detector(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $-20 ($-239/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (2.0% below list).
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#680 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.
• 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: Rock Crusher Elementary School (math 70% / reading 56%, grade B, #582 of 2,144 statewide, top 28%, 665 students, 68% FRL); Crystal River Middle School (math 49% / reading 47%, grade C-, #286 of 571 statewide, top 50%, 900 students, 64% FRL); Crystal River High School (math 31% / reading 44%, grade F, #336 of 667 statewide, top 51%, 1,249 students, 56% FRL).
• Market conditions: 327 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 6.16%
• Cash-on-cash: -0.48%
• DSCR: 0.98
• GRM: 8.2

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: -17.0%
• Equity multiple: 0.40×
• Total profit: $-30,110
• Equity at exit: $26,689

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-27,189
• Equity at exit: $15,477

Cash invested: $50,120 (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 34429

• Home prices YoY: -17.8%
• Active inventory: 327
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,819 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$70 /mo · $838/yr
• Insurance: −$75
• HOA: −$374
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $-20

Break-even live

Break-even rent $1,844

Max offer price $175,487

Occupancy floor 96%

Sensitivity live

Price	-10% $81	-5% $31	+0% $-20	+5% $-71	+10% $-121
Rent	-10% $-164	-5% $-92	+0% $-20	+5% $52	+10% $124
Rate	-1.0pp $70	-0.5pp $26	base $-20	+0.5pp $-66	+1.0pp $-113

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5926 W Poplar Springs Cir Unit 2101 Crystal River, FL	3.0	2.0	1200	$1,895	$1.58	23d	1	0.29mi
1136 N Tiger Pt Unit 1136 Lecanto, FL	3.0	1.5	1000	$1,495	$1.50	23d	1	1.30mi

HOA detail condo

• Monthly dues: $374 · $4,488/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $179,000 Active 122 DOM
2. 2026-06-19
   days on market $179,000 Active 120 DOM
3. 2026-06-18
   days on market $179,000 Active 119 DOM
4. 2026-06-17
   days on market $179,000 Active 118 DOM
5. 2026-06-16
   days on market $179,000 Active 117 DOM
6. 2026-06-15
   days on market $179,000 Active 116 DOM
7. 2026-06-14
   days on market $179,000 Active 114 DOM
8. 2026-06-13
   days on market $179,000 Active 113 DOM
9. 2026-06-09
   days on market $179,000 Active 110 DOM
10. 2026-06-08
    days on market $179,000 Active 109 DOM
11. 2026-06-03
    days on market $179,000 Active 104 DOM
12. 2026-06-02
    days on market $179,000 Active 103 DOM
13. 2026-06-01
    days on market $179,000 Active 102 DOM
14. 2026-05-31
    days on market $179,000 Active 101 DOM
15. 2026-05-30
    days on market $179,000 Active 100 DOM
16. 2026-04-03
    price $195,000
17. 2026-02-14
    listed $204,900 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: $838 · $70/mo
• Projected year-2 tax: $1,486 · $124/mo
• Expected delta: +$648/yr (+$54/mo · 77.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 26 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: $21,831
• − Mortgage interest: −$10,027
• − Property taxes: −$838
• − Insurance: −$895
• − Repairs & maintenance: −$1,746
• − Management: −$1,746
• − HOA: −$4,488
• − Depreciation: −$5,207
• Taxable loss: −$3,117
• Est. tax savings @ 24.0%: +$748
• After-tax cash flow: $509/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 — Lecanto

• Score: 64/100
• State rank: #680
• US rank: #14112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 13,377
• Population (ZIP): 9,494

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 (88%)
• Race & ethnicity: White 88% Black 5% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -58.92%
• Current HPI: 271.3171
• 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

-4.8% since first listed

2 events — show timeline

• 2026-04-03 Price Changed $195,000 RACC
• 2026-02-14 Listed $204,900 RACC

Property tax history

+2.6%/yr

Latest (2025): $838 · +9.8% YoY. Source: county tax records.