3940 E Camp Izzard Pl · Hernando, FL 34434

$110,000

1 bd · 1.5 ba · 682 sqft · Land · 136 Days on market

Built 2023 0.46 ac 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 +28.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0

Listing remarks

If you're looking for a home in a peaceful setting with 1/2 an acre lot and minutes from the crystal-clear Rainbow River, this is it. It's located less than a mile from a public boat ramp and very close to Ocala and I-75. It's also located minutes from downtown Dunnellon, which has waterfront restaurants, shops and a full assortment of grocery options such as Publix, Walmart, Winn-Dixie and Aldi. This small cottage would be perfect for a weekend home, Airbnb, or seasonal rental. This home is partially completed and ready for your personalized final touches; however, the following items are complete: plumbing, insulation, shower pan, washer/dryer hook-up and electrical is complete, (but nee

Key facts

• 1/2 acre lot
• Washer dryer hook-up
• Public boat ramp

Tags

• 1/2 ACRE LOT
• PUBLIC BOAT RAMP
• WATERFRONT RESTAURANTS
• GROCERY OPTIONS
• WASHER DRYER HOOK-UP
• ELECTRICAL COMPLETE

Property features AI

Exterior

• Parking: Other parking
• Utilities: Private well water; Private septic (septic tank); 200+ amp electrical service; Cable available; Electricity available; Water connected; Sewer connected
• Home design: Single-family residence; One story
• Construction: Frame construction with wood siding; Metal roof
• Exterior features: Cleared lot; Corner lot; Many trees; Wooded

Interior

• Flooring: Wood flooring
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Unfurnished; Tankless water heater; Wood flooring
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath land listed at $110k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 5.6% in Hernando — 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 71/100 on livability (#402 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• 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: 1242 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 $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $18k; list at $110k implies a 511% 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; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 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: 1.17% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.96%
• DSCR: 1.62
• GRM: 7.1

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: 4.2%
• Equity multiple: 1.16×
• Total profit: $4,958
• Equity at exit: $16,401

10-year hold

• IRR: 13.6%
• Equity multiple: 2.09×
• Total profit: $33,534
• Equity at exit: $9,511

Cash invested: $30,800 (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: 1242
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,287 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$36 /mo · $430/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $358

Break-even live

Break-even rent $834

Max offer price $110,000

Occupancy floor 67%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $110,000 Active 136 DOM
2. 2026-06-18
   days on market $110,000 Active 135 DOM
3. 2026-06-17
   days on market $110,000 Active 134 DOM
4. 2026-06-16
   days on market $110,000 Active 133 DOM
5. 2026-06-15
   days on market $110,000 Active 132 DOM
6. 2026-06-14
   days on market $110,000 Active 130 DOM
7. 2026-06-13
   pricedays on market $110,000 Active 129 DOM
8. 2026-06-09
   days on market $125,000 Active 126 DOM
9. 2026-06-08
   days on market $125,000 Active 125 DOM
10. 2026-06-03
    days on market $125,000 Active 120 DOM
11. 2026-06-02
    days on market $125,000 Active 119 DOM
12. 2026-06-01
    days on market $125,000 Active 118 DOM
13. 2026-05-31
    days on market $125,000 Active 117 DOM
14. 2026-05-30
    days on market $125,000 Active 116 DOM
15. 2026-02-01
    listed $125,000 Active
16. 1980-03-01
    soldstatus $18,000

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $430 · $36/mo
• Projected year-2 tax: $913 · $76/mo
• Expected delta: +$483/yr (+$40/mo · 112.4%)

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,446
• − Mortgage interest: −$6,162
• − Property taxes: −$430
• − Insurance: −$550
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$3,200
• Taxable income: $2,633
• Est. tax owed @ 24.0%: −$632
• After-tax cash flow: $3,669/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 — Hernando

• Score: 71/100
• State rank: #402
• US rank: #7137

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Citrus County · 111,314 people
• City population: 17,281
• 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

+594.4% since first listed

2 events — show timeline

• 2026-02-01 Listed $125,000 HCAR
• 1980-03-01 Sold (Public Records) $18,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $430 · +5.6% YoY. Source: county tax records.