348 Hampshire Ave · Spring Hill, FL 34606

$245,000

3 bd · 2.0 ba · 1,901 sqft · SingleFamily public records · 10 Days on market

Built 1985 0.40 ac lot Est $329k · 26% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +13.5/30.0
• Schools +4.2/10.0
• DSCR +4.1/10.0
• 1% rule +3.9/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ATTENTION INVESTORS!!!! Unrepaired sinkhole. Cash only Bring this home back to its glory! So much potential in this 3/2/2 pool home on corner lot! Granite countertops, pecan wood cabinets, separate dining room, huge living room with wood burning fireplace with view of pool area. Beautifully treed lot in well established, friendly neighborhood. * * * AS IS CASH ONLY * * *

Key facts

• 0.4 acre lot
• 2 garage spots
• Pool

Property features AI

Finance

• Other: No lease restrictions indicated
• HOA & community: No HOA/association indicated

Exterior

• Parking: Attached garage (2 spaces)
• Utilities: Public water; Septic tank; Cable available; Electricity connected
• Home design: Single-family residence; One level; Residential property; Faces northwest; Property listed as fixer
• Construction: Concrete and stucco construction; Tile roof; Slab foundation; Built area listed (per records)
• Exterior features: Enclosed and screened porch/patio; Sliding doors; Vinyl and wire fencing; Shed(s); Corner lot; Oak trees

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Eat-in kitchen; Open floor plan; Wood-burning fireplace
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $8 ($94/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 $217k (11.4% below list).
• Recommended offer: $217k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.4% in Spring Hill — 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 63/100 on livability (#738 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Hernando (suburban): math 50% / reading 50% proficiency, ranked #38 of 73 in FL (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.9%/yr); 392 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• At $2,170/mo this rent would consume 45% of the median local household income ($57k/yr) (locally 733% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 24y 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 $60k; list at $245k implies a 308% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,977 (11.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $328,873
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
348 Hampshire Ave	0.00mi	3/2.0	1,901 (0%)	0mo	$175,000	$92	100
5555 Baffin Cir	0.11mi	3/2.0	1,910 (+0%)	6mo	$389,000	$204	89
295 Dan River Rd	0.17mi	4/2.0 (+1)	1,828 (-4%)	1mo	$360,000	$197	80
177 Rusk Cir	0.34mi	3/2.5	1,767 (-7%)	3mo	$262,000	$148	68
155 Ruskin Ave	0.45mi	4/2.0 (+1)	1,964 (+3%)	1mo	$340,000	$173	68
18708 Bellevista Ct	0.66mi	3/2.0	1,858 (-2%)	1mo	$285,000	$153	64
18629 Myrtlewood Dr	0.72mi	3/2.0	1,915 (+1%)	2mo	$315,000	$164	64
10918 Midland Bridge Rd	0.69mi	3/2.0	1,928 (+1%)	3mo	$375,000	$195	63
246 Galaxy Ave	0.22mi	3/2.0	1,634 (-14%)	7mo	$327,900	$201	61
18635 Myrtlewood Dr	0.70mi	3/2.0	1,862 (-2%)	4mo	$285,000	$153	60
6009 County Line Rd	0.52mi	3/2.0	1,779 (-6%)	7mo	$340,000	$191	59
18744 Bellevista Ct	0.62mi	3/2.0	2,050 (+8%)	1mo	$345,000	$168	58

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.34×
• Total profit: $-45,521
• Equity at exit: $36,530

10-year hold

• IRR: -20.4%
• Equity multiple: 0.08×
• Total profit: $-63,407
• Equity at exit: $21,183

Cash invested: $68,600 (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 34606

• Home prices YoY: -24.7%
• Rents YoY: -0.9%
• Active inventory: 392
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,170 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$319 /mo · $3,833/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $8

Break-even live

Break-even rent $2,160

Max offer price $245,000

Occupancy floor 95%

Sensitivity live

Price	-10% $146	-5% $77	+0% $8	+5% $-62	+10% $-131
Rent	-10% $-164	-5% $-78	+0% $8	+5% $94	+10% $179
Rate	-1.0pp $131	-0.5pp $70	base $8	+0.5pp $-56	+1.0pp $-120

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18725 Parade Rd Hudson, FL	3.0	2.0	1420	$1,795	$1.26	3d	1	0.74mi
18802 Whiterock Ln Hudson, FL	3.0	2.0	1526	$1,995	$1.31	6d	1	1.18mi
10114 Briar Cir Hudson, FL	3.0	2.0	1525	$2,000	$1.31	25d	1	1.24mi
18720 Oak Way Dr Hudson, FL	3.0	2.0	1839	$2,700	$1.47	5d	1	1.45mi

Listing history 15 events

1. 2026-05-18
   status Pending

   Show marketing remark (380 chars)

   ATTENTION INVESTORS!!!! Unrepaired sinkhole. Cash only Bring this home back to its glory! So much potential in this 3/2/2 pool home on corner lot! Granite countertops, pecan wood cabinets, separate dining room, huge living room with wood burning fireplace with view of pool area. Beautifully treed lot in well established, friendly neighborhood. * * * AS IS CASH ONLY * * *

2. 2026-05-18
   status Pending 380-char remark

   Show marketing remark (380 chars)

   ATTENTION INVESTORS!!!! Unrepaired sinkhole. Cash only Bring this home back to its glory! So much potential in this 3/2/2 pool home on corner lot! Granite countertops, pecan wood cabinets, separate dining room, huge living room with wood burning fireplace with view of pool area. Beautifully treed lot in well established, friendly neighborhood. * * * AS IS CASH ONLY * * *

3. 2026-05-08
   listed $245,000 Active

   Show marketing remark (380 chars)

   ATTENTION INVESTORS!!!! Unrepaired sinkhole. Cash only Bring this home back to its glory! So much potential in this 3/2/2 pool home on corner lot! Granite countertops, pecan wood cabinets, separate dining room, huge living room with wood burning fireplace with view of pool area. Beautifully treed lot in well established, friendly neighborhood. * * * AS IS CASH ONLY * * *

4. 2026-05-08
   listed $245,000 Active 380-char remark

   Show marketing remark (380 chars)

   ATTENTION INVESTORS!!!! Unrepaired sinkhole. Cash only Bring this home back to its glory! So much potential in this 3/2/2 pool home on corner lot! Granite countertops, pecan wood cabinets, separate dining room, huge living room with wood burning fireplace with view of pool area. Beautifully treed lot in well established, friendly neighborhood. * * * AS IS CASH ONLY * * *

5. 2019-11-11
   historical
6. 2011-12-06
   soldstatus $60,000
7. 2011-12-05
   soldstatus $60,000
8. 2011-11-13
   listed $75,000
9. 2008-12-14
   historical
10. 2008-08-27
    listed $189,900
11. 2008-06-14
    listed $189,900
12. 2002-11-25
    soldstatus $55,000
13. 2002-11-20
    soldstatus $55,000
14. 2002-09-14
    listed $55,000
15. 2000-03-20
    soldstatus $109,900

ⓘ 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: $3,833 · $319/mo
• Projected year-2 tax: $3,833 · $319/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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,037
• − Mortgage interest: −$13,724
• − Property taxes: −$3,833
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,083
• − Management: −$2,083
• − Depreciation: −$7,127
• Taxable loss: −$4,038
• Est. tax savings @ 24.0%: +$969
• After-tax cash flow: $1,063/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: Hernando
• NCES district ID: 1200810
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $41,985
• Composite: 42.03/100
• National rank: #3329
• State rank: #38 of 73 in FL

Livability — Spring Hill

• Score: 63/100
• State rank: #738
• US rank: #15937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Hill, FL
• County: Hernando County · 169,677 people
• City population: 83,915
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 28,668
• Household income: $57,337
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 733.0

Population outlook (Hernando County) Hauer SSP2

• Today (2025): 189,218 people
• By 2030: 194,367 · +2.7%
• By 2040: 203,398 · +7.5%
• By 2050: 209,589 · +10.8%
• By 2075: 218,452 · +15.4%
• By 2100: 205,923 · +8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 13% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 10% Cuban 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 87% English-only · Spanish 11% German/W. Germanic 1%

Political lean MEDSL · Hernando

• 2024 margin: Solid R (+37.0) · D 31.1% · R 68.2%
• 2008→2024 swing: -33.5pp toward R · 2008: -3.6pp · 2024: -37.0pp
• All cycles: 2024: R+37.0 2020: R+30.2 2016: R+29.0 2012: R+8.5 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.11%
• Current HPI: 298.5201
• Rent YoY: ▼ -0.89%
• Metro: Tampa-St. Petersburg-Clearwater, 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

+122.9% since first listed

15 events — show timeline

• 2026-05-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-18 Pending — HCAR
• 2026-05-08 Listed $245,000 HCAR
• 2026-05-08 Listed $245,000 Stellar MLS as Distributed by MLS Grid
• 2019-11-11 Listing Removed — HCAR
• 2011-12-06 Sold (Public Records) $60,000 Public Records
• 2011-12-05 Sold (MLS) $60,000 HCAR
• 2011-11-13 Listed $75,000 HCAR
• 2008-12-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-08-27 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2008-06-14 Listed $189,900 HCAR
• 2002-11-25 Sold (Public Records) $55,000 Public Records
• 2002-11-20 Sold (MLS) $55,000 HCAR
• 2002-09-14 Listed $55,000 HCAR
• 2000-03-20 Sold (Public Records) $109,900 Public Records

Property tax history

+11.9%/yr

Latest (2025): $3,833 · -0.4% YoY. Source: county tax records.