10292 E Pike Dr · Inverness, FL 34450

$167,250

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 131 Days on market

Built 2000 9,188 sqft lot Est $159k · 5% over

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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 +14.1/30.0
• ARV discount +5.2/15.0
• DSCR +4.3/10.0
• Schools +4.1/10.0
• 1% rule +3.9/10.0
• 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

Terrific waterfront property located on 1.5 lots. The canal leads to open water Chain of Lakes. Concrete boat dock (25 X 12 according to CCPA). Older mobile on property but nice kitchen with wood cabinets, dish washer, range & refrigerator. The home has 2 bedrooms, 1.5 baths, screened porch with mud tub, shed, circular driveway, concrete patio at the front door which used to be screened. Come and check out this place soon!

Key facts

• Double metal roof
• Safety glass windows
• Metal exterior doors

Tags

• CANAL FRONT HOME
• DOUBLE METAL ROOF
• SAFETY GLASS WINDOWS
• METAL EXTERIOR DOORS
• LARGE DOCK
• NEWER HOT WATER HEATER

Property features AI

Exterior

• Parking: Detached garage with 1 garage space; Circular driveway; Concrete driveway; Garage door opener; Total 1 parking space
• Security: Smoke detector(s)
• Utilities: Private well water; Septic tank sewer
• Home design: Residential mobile home; One story; Entry level: single-level
• Construction: Aluminum siding; Metal roof; Pillar/post/pier foundation; Built as a mobile home
• Exterior features: Canal access waterfront; Canal-front property; Level lot; County road frontage

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Water softener (owned); Smoke detector(s)
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $167k.

Deal economics

• At list price, monthly cash flow is $24 ($284/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (10.7% below list).
• Recommended offer: $147k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% 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); Inverness Middle School (math 52% / reading 48%, grade C, #254 of 571 statewide, top 45%, 1,017 students, 60% 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: 211 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 $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 131 days — a 12% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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.
• Current owner paid $22k; list at $167k implies a 660% 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 $147,180 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 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. 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?
5. 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?
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: 0.89% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.61%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $158,976
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10286 E Pike Dr	0.03mi	2/1.0	854 (-1%)	20mo	$101,000	$118	80
9816 E Monica Ct	0.72mi	2/1.0	858 (-1%)	10mo	$176,000	$205	57
10368 E Pike Dr	0.22mi	2/1.0	784 (-9%)	22mo	$89,990	$115	56
10120 E Gulf To Lake Hwy	0.38mi	2/2.0	972 (+12%)	5mo	$169,000	$174	54
10111 E Bass Cir	0.25mi	2/2.0	942 (+9%)	22mo	$230,000	$244	51
9825 E Monica Ct	0.73mi	2/1.0	978 (+13%)	18mo	$180,000	$184	28

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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-25,572
• Equity at exit: $24,938

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-20,236
• Equity at exit: $14,461

Cash invested: $46,830 (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: 211
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,493 medium
• Mortgage (P&I): −$877
• Tax est. 1.5%: −$209 /mo · $2,509/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $24

Break-even live

Break-even rent $1,463

Max offer price $167,250

Occupancy floor 93%

Sensitivity live

Price	-10% $139	-5% $81	+0% $24	+5% $-34	+10% $-92
Rent	-10% $-94	-5% $-35	+0% $24	+5% $83	+10% $142
Rate	-1.0pp $108	-0.5pp $66	base $24	+0.5pp $-20	+1.0pp $-64

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: $41,812
• Closing costs: $5,018
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $167,250 Active 131 DOM
2. 2026-06-19
   days on market $167,250 Active 129 DOM
3. 2026-06-18
   days on market $167,250 Active 128 DOM
4. 2026-06-17
   days on market $167,250 Active 127 DOM
5. 2026-06-16
   days on market $167,250 Active 126 DOM
6. 2026-06-15
   days on market $167,250 Active 125 DOM
7. 2026-06-14
   days on market $167,250 Active 123 DOM
8. 2026-06-13
   days on market $167,250 Active 122 DOM
9. 2026-06-09
   days on market $167,250 Active 119 DOM
10. 2026-06-08
    days on market $167,250 Active 118 DOM
11. 2026-06-03
    days on market $167,250 Active 113 DOM
12. 2026-06-02
    days on market $167,250 Active 112 DOM
13. 2026-06-01
    days on market $167,250 Active 111 DOM
14. 2026-05-31
    days on market $167,250 Active 110 DOM
15. 2026-05-30
    days on market $167,250 Active 109 DOM
16. 2026-04-07
    status Active
17. 2026-04-05
    historical
18. 2026-02-04
    listed $167,250 Active
19. 2013-02-14
    soldstatus $22,000 432-char remark

    Show marketing remark (432 chars)

    Terrific waterfront property located on 1.5 lots. The canal leads to open water Chain of Lakes. Concrete boat dock (25 X 12 according to CCPA). Older mobile on property but nice kitchen with wood cabinets, dish washer, range & refrigerator. The home has 2 bedrooms, 1.5 baths, screened porch with mud tub, shed, circular driveway, concrete patio at the front door which used to be screened. Come and check out this place soon!

20. 2012-09-10
    listed $30,000 432-char remark

    Show marketing remark (432 chars)

    Terrific waterfront property located on 1.5 lots. The canal leads to open water Chain of Lakes. Concrete boat dock (25 X 12 according to CCPA). Older mobile on property but nice kitchen with wood cabinets, dish washer, range & refrigerator. The home has 2 bedrooms, 1.5 baths, screened porch with mud tub, shed, circular driveway, concrete patio at the front door which used to be screened. Come and check out this place soon!

21. 1996-07-26
    soldstatus $35,900
22. 1979-06-01
    soldstatus $18,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 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: $17,916
• − Mortgage interest: −$9,369
• − Property taxes: −$2,509
• − Insurance: −$836
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$4,865
• Taxable loss: −$2,529
• Est. tax savings @ 24.0%: +$607
• After-tax cash flow: $891/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

+829.2% since first listed

7 events — show timeline

• 2026-04-07 Relisted — RACC
• 2026-04-05 Delisted — RACC
• 2026-02-04 Listed $167,250 RACC
• 2013-02-14 Sold (MLS) $22,000 RACC
• 2012-09-10 Listed $30,000 RACC
• 1996-07-26 Sold (Public Records) $35,900 Public Records
• 1979-06-01 Sold (Public Records) $18,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $234 · +32.9% YoY. Source: county tax records.