8354 N Saxon Way · Citrus Springs, FL 34434

$219,900

3 bd · 2.0 ba · 1,466 sqft · SingleFamily public records · 41 Days on market

Built 2005 0.29 ac lot Est $245k · 10% under

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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 +13.4/30.0
• ARV discount +12.1/15.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• 1% rule +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0

Listing remarks MLS

Newer 3/2/2 home with fenced yard, open floor plan, kitchen with all appliances, wood cabinets & pantry. In 2010 owners made the following improvements; replaced carpet in great room & refrigerator, all interior painted, thermal/tinted glass enclosed lanai for year round use. Added post light, garbage disposal, ceiling insulation & return air duct for better balance of cooling & heating of interior. New dishwasher Dec 2011. Meticulously maintained home, pride of ownership shines throughout this home, dont miss out.

Key facts

• Open floor plan
• Newer septic tank
• Fenced backyard

Tags

• NEW ROOF
• NEWER SEPTIC TANK
• OPEN FLOOR PLAN
• FENCED BACKYARD
• PANTRY FOR EXTRA STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $6 ($72/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 $190k (13.5% below list).
• Recommended offer: $190k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 5.1% in Citrus Springs — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 68/100 on livability (#521 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; 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: Citrus Springs Elementary School (math 52% / reading 48%, grade D+, #1,070 of 2,144 statewide, top 51%, 817 students, 71% FRL); Citrus Springs Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 821 students, 59% FRL); Lecanto High School (math 46% / reading 53%, grade D, #179 of 667 statewide, top 29%, 1,630 students, 46% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 1247 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 41 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $220k implies a 145% 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; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,233 (13.5% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.87% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.12%
• DSCR: 1.01
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $244,822
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8354 N Saxon Way	0.00mi	3/2.0	1,466 (0%)	1mo	$200,000	$136	99
8216 N Upland Dr	0.14mi	3/2.0	1,505 (+3%)	3mo	$359,000	$239	87
7896 N Omega Way	0.50mi	3/2.0	1,462 (-0%)	3mo	$252,000	$172	74
7821 N Sarazen Dr	0.62mi	3/2.0	1,506 (+3%)	0mo	$292,000	$194	66
8458 N Tempest Dr	0.68mi	3/2.0	1,475 (+1%)	2mo	$255,000	$173	66
7914 N Omega Way	0.48mi	4/2.0 (+1)	1,548 (+6%)	1mo	$257,800	$167	63
8300 N Pickinz Way	0.55mi	2/2.0 (-1)	1,406 (-4%)	1mo	$229,900	$164	62
8830 N Salina Dr	0.69mi	4/2.0 (+1)	1,503 (+2%)	1mo	$245,000	$163	58
2567 W Cacti Ct	0.30mi	4/2.0 (+1)	1,672 (+14%)	2mo	$259,990	$155	56
8278 N Pickinz Way	0.54mi	2/2.0 (-1)	1,339 (-9%)	1mo	$215,000	$161	55
8589 W Gilovu Dr	0.42mi	4/2.0 (+1)	1,672 (+14%)	0mo	$258,990	$155	52
3192 W Barberton Pl	0.52mi	4/2.0 (+1)	1,674 (+14%)	2mo	$279,000	$167	45

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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-35,237
• Equity at exit: $32,788

10-year hold

• IRR: -7.8%
• Equity multiple: 0.51×
• Total profit: $-30,133
• Equity at exit: $19,013

Cash invested: $61,572 (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 34434

• Home prices YoY: -2.9%
• Active inventory: 1247
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,902 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$252 /mo · $3,025/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $6

Break-even live

Break-even rent $1,895

Max offer price $219,900

Occupancy floor 95%

Sensitivity live

Price	-10% $130	-5% $68	+0% $6	+5% $-56	+10% $-118
Rent	-10% $-144	-5% $-69	+0% $6	+5% $81	+10% $156
Rate	-1.0pp $117	-0.5pp $62	base $6	+0.5pp $-51	+1.0pp $-109

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8006 N Voyager Dr Citrus Springs, FL	4.0	2.0	1636	$1,899	$1.16	23d	1	0.37mi
3036 W Akron Pl Citrus Springs, FL	4.0	2.0	1833	$2,000	$1.09	23d	1	0.39mi
8596 N Spartan Dr Citrus Springs, FL	4.0	2.0	1833	$2,000	$1.09	23d	1	0.67mi
9081 N Golfview Dr Citrus Springs, FL	3.0	1.5	1374	$1,400	$1.02	23d	1	0.81mi
9205 N Fawn Way Citrus Springs, FL	3.0	2.0	1428	$1,750	$1.23	23d	1	0.84mi
9305 N Citrus Springs Blvd Citrus Springs, FL	3.0	2.0	1411	$1,800	$1.28	23d	1	0.84mi
7938 N Maltese Dr Citrus Springs, FL	4.0	2.0	1833	$2,150	$1.17	23d	1	0.94mi
2907 W Camilo Dr Citrus Springs, FL	4.0	2.0	1449	$1,795	$1.24	23d	1	0.98mi
2330 W Juan Vega Ln Dunnellon, FL	3.0	2.0	1204	$1,675	$1.39	23d	1	0.99mi
1912 W Quaker Ln Citrus Springs, FL	4.0	2.0	1636	$1,895	$1.16	23d	1	0.99mi
3584 W Burgandy Dr Citrus Springs, FL	3.0	2.0	1413	$1,699	$1.20	23d	1	1.01mi
9127 N Justa Dr Citrus Springs, FL	3.0	2.0	1453	$1,800	$1.24	23d	1	1.04mi
8715 N Paradisea Dr Citrus Springs, FL	3.0	2.0	1403	$1,850	$1.32	23d	1	1.06mi
8267 N Santos Dr Citrus Springs, FL	3.0	2.0	1453	$1,800	$1.24	23d	1	1.06mi
8055 N Wellington Ter Citrus Springs, FL	3.0	2.0	1250	$1,750	$1.40	23d	1	1.09mi
3272 W Fairbank Dr Citrus Springs, FL	4.0	2.0	1774	$2,050	$1.16	23d	1	1.09mi
7047 N Lime Dr Citrus Springs, FL	4.0	2.0	1630	$1,900	$1.17	23d	1	1.33mi
7175 N Varsity Ave Citrus Springs, FL	3.0	2.0	1428	$1,795	$1.26	23d	1	1.35mi
7708 N Paris Dr Dunnellon, FL	3.0	2.0	1415	$1,800	$1.27	23d	1	1.36mi
7062 N Regent Ter Citrus Springs, FL	4.0	2.0	1621	$1,700	$1.05	23d	1	1.37mi
7061 N Outrigger Ter Citrus Springs, FL	4.0	2.0	1621	$1,700	$1.05	23d	1	1.38mi
9730 N Elkcam Blvd Citrus Springs, FL	4.0	2.0	1672	$1,785	$1.07	23d	1	1.38mi
8030 N Galena Ave Citrus Springs, FL	4.0	2.0	1833	$2,150	$1.17	23d	1	1.38mi
7908 N Galena Ave Citrus Springs, FL	4.0	2.5	1551	$1,850	$1.19	23d	1	1.40mi

Listing history 15 events

1. 2026-04-24
   status Pending
2. 2026-04-20
   status Active
3. 2026-04-12
   status Pending
4. 2026-04-01
   status Active
5. 2026-04-01
   historical
6. 2026-03-25
   price $219,900
7. 2026-03-05
   listed $239,900 Active
8. 2012-04-30
   soldstatus $89,900
9. 2012-04-26
   soldstatus $89,900 544-char remark

   Show marketing remark (544 chars)

   Newer 3/2/2 home with fenced yard, open floor plan, kitchen with all appliances, wood cabinets & pantry. In 2010 owners made the following improvements; replaced carpet in great room & refrigerator, all interior painted, thermal/tinted glass enclosed lanai for year round use. Added post light, garbage disposal, ceiling insulation & return air duct for better balance of cooling & heating of interior. New dishwasher Dec 2011. Meticulously maintained home, pride of ownership shines throughout this home, dont miss out.

10. 2012-01-23
    listed $89,900 544-char remark

    Show marketing remark (544 chars)

    Newer 3/2/2 home with fenced yard, open floor plan, kitchen with all appliances, wood cabinets & pantry. In 2010 owners made the following improvements; replaced carpet in great room & refrigerator, all interior painted, thermal/tinted glass enclosed lanai for year round use. Added post light, garbage disposal, ceiling insulation & return air duct for better balance of cooling & heating of interior. New dishwasher Dec 2011. Meticulously maintained home, pride of ownership shines throughout this home, dont miss out.

11. 2010-03-25
    soldstatus $86,000 340-char remark

    Show marketing remark (340 chars)

    Move in Condition all you need to bring is your personal belongings. This home features over 1400 square feet of living space with 3 bedrooms, 2 bathrooms, large great room, dining room, 2 car garage on . 25 acres. Call today to schedule your appointment to view this home before it gone. Don't forget to ask about the $8,000.00 tax credit.

12. 2009-12-31
    listed $89,900 340-char remark

    Show marketing remark (340 chars)

    Move in Condition all you need to bring is your personal belongings. This home features over 1400 square feet of living space with 3 bedrooms, 2 bathrooms, large great room, dining room, 2 car garage on . 25 acres. Call today to schedule your appointment to view this home before it gone. Don't forget to ask about the $8,000.00 tax credit.

13. 2005-12-15
    soldstatus $159,900
14. 2005-12-11
    listed $189,900
15. 2004-11-01
    soldstatus $16,000

ⓘ 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: $3,025 · $252/mo
• Projected year-2 tax: $3,025 · $252/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,828
• − Mortgage interest: −$12,318
• − Property taxes: −$3,025
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,826
• − Management: −$1,826
• − Depreciation: −$6,397
• Taxable loss: −$3,663
• Est. tax savings @ 24.0%: +$879
• After-tax cash flow: $951/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 — Citrus Springs

• Score: 68/100
• State rank: #521
• US rank: #9598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Citrus Springs, FL
• County: Citrus County · 111,314 people
• City population: 10,730
• Metro: Homosassa Springs, FL
• Population (ZIP): 11,074
• Household income: $68,939
• Rent vs Own: 12.4% rent · 87.6% own
• Severe rent burden: 171.0

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 (78%)
• Race & ethnicity: White 78% Two or more races 11% Hispanic / Latino 9% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Iranian 3% Romanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1% 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: ▼ -9.70%
• Current HPI: 328.2164
• Rent YoY: —
• Metro: Homosassa Springs, FL
• 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

+1274.4% since first listed

15 events — show timeline

• 2026-04-24 Pending — RACC
• 2026-04-20 Relisted — RACC
• 2026-04-12 Pending — RACC
• 2026-04-01 Relisted — RACC
• 2026-04-01 Delisted — RACC
• 2026-03-25 Price Changed $219,900 RACC
• 2026-03-05 Listed $239,900 RACC
• 2012-04-30 Sold (Public Records) $89,900 Public Records
• 2012-04-26 Sold (MLS) $89,900 RACC
• 2012-01-23 Listed $89,900 RACC
• 2010-03-25 Sold (MLS) $86,000 RACC
• 2009-12-31 Listed $89,900 RACC
• 2005-12-15 Sold (MLS) $159,900 Stellar MLS as Distributed by MLS Grid
• 2005-12-11 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2004-11-01 Sold (Public Records) $16,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $3,025 · +4.6% YoY. Source: county tax records.