2434 W Gardenia Dr · Citrus Springs, FL 34434

$230,000

3 bd · 2.0 ba · 1,357 sqft · SingleFamily public records · 69 Days on market

Built 1974 0.34 ac lot Est $225k · at est.

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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 +14.5/30.0
• ARV discount +6.6/15.0
• DSCR +4.4/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0

Listing remarks

One or more photo(s) has been virtually staged. Welcome to 2434 W Gardenia Drive in Citrus Springs—where comfort, updates, and a scenic golf course setting come together beautifully. This well-maintained home is perfectly positioned on the 12th tee, offering peaceful views and a relaxing Florida lifestyle right from your backyard. Inside, you’ll find a newly renovated kitchen featuring granite countertops, updated cabinetry, and a functional layout ideal for both everyday living and entertaining. Crown molding throughout adds an elegant touch, enhancing the home’s character and finish. The living spaces are filled with natural light and offer a seamless flow for both daily

Key facts

• Natural light
• Granite countertops
• Updated cabinetry

Tags

• GOLF COURSE SETTING
• NEWLY RENOVATED KITCHEN
• GRANITE COUNTERTOPS
• UPDATED CABINETRY
• CROWN MOLDING
• NATURAL LIGHT

Property features AI

Finance

• Other: Property is homesteaded; Zoned PDR
• HOA & community: Pets allowed (cats and dogs)

Exterior

• Parking: Attached garage (2 spaces)
• Utilities: Public water; Public sewer; Public utilities
• Home design: Single family residence; One story; North-facing
• Construction: Frame construction; Shingle roof; Block foundation; Built on lot approximately 0.34 acres (100 x 150)
• Exterior features: Covered patio/porch; Rain gutters; Sidewalk; Vinyl fencing; Trees and landscaped yard; Asphalt road access

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crown molding; Sliding doors
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $50 ($606/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 $179k (22.4% below list).
• Recommended offer: $179k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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); 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: 1242 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 31% 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 69 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,507 (22.4% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.78% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $225,262
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9074 N Golfview Dr	0.16mi	3/2.0	1,465 (+8%)	1mo	$220,000	$150	78
2420 W Menores Dr	0.52mi	3/2.0	1,264 (-7%)	3mo	$213,900	$169	62
1926 W Belgrade Dr	0.56mi	4/2.0 (+1)	1,397 (+3%)	2mo	$220,000	$157	62
2434 W Menores Dr	0.51mi	3/2.0	1,264 (-7%)	3mo	$205,000	$162	62
8830 N Salina Dr	0.34mi	4/2.0 (+1)	1,503 (+11%)	1mo	$245,000	$163	60
1774 W Water Lily Dr	0.71mi	3/2.0	1,402 (+3%)	2mo	$239,900	$171	60
2275 W Eric Dr	0.57mi	3/2.0	1,264 (-7%)	3mo	$213,900	$169	59
2306 W Menores Dr	0.58mi	3/2.0	1,264 (-7%)	3mo	$210,000	$166	59
2276 W Menores Dr	0.60mi	3/2.0	1,264 (-7%)	3mo	$213,900	$169	58
8354 N Saxon Way	0.69mi	3/2.0	1,466 (+8%)	1mo	$200,000	$136	54
1952 W Beach Plum Dr	0.55mi	3/2.0	1,529 (+13%)	1mo	$260,000	$170	52
9138 N Alpinia Dr	0.69mi	3/2.0	1,554 (+14%)	2mo	$239,990	$154	42

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-34,170
• Equity at exit: $34,294

10-year hold

• IRR: -6.3%
• Equity multiple: 0.60×
• Total profit: $-26,080
• Equity at exit: $19,886

Cash invested: $64,400 (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: 10.7×

Monthly cashflow live

• Estimated rent: $1,785 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$58 /mo · $693/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $50

Break-even live

Break-even rent $1,721

Max offer price $230,000

Occupancy floor 92%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9081 N Golfview Dr Citrus Springs, FL	3.0	1.5	1374	$1,400	$1.02	21d	1	0.23mi
9305 N Citrus Springs Blvd Citrus Springs, FL	3.0	2.0	1411	$1,800	$1.28	21d	1	0.26mi
2330 W Juan Vega Ln Dunnellon, FL	3.0	2.0	1204	$1,675	$1.39	21d	1	0.34mi
9205 N Fawn Way Citrus Springs, FL	3.0	2.0	1428	$1,750	$1.23	21d	1	0.41mi
2907 W Camilo Dr Citrus Springs, FL	4.0	2.0	1449	$1,795	$1.24	21d	1	0.57mi
9127 N Justa Dr Citrus Springs, FL	3.0	2.0	1453	$1,800	$1.24	21d	1	0.82mi
9730 N Elkcam Blvd Citrus Springs, FL	4.0	2.0	1672	$1,785	$1.07	21d	1	0.84mi
3036 W Akron Pl Citrus Springs, FL	4.0	2.0	1833	$2,000	$1.09	21d	1	0.90mi
8596 N Spartan Dr Citrus Springs, FL	4.0	2.0	1833	$2,000	$1.09	21d	1	0.92mi
8006 N Voyager Dr Citrus Springs, FL	4.0	2.0	1636	$1,899	$1.16	21d	1	1.02mi
8267 N Santos Dr Citrus Springs, FL	3.0	2.0	1453	$1,800	$1.24	21d	1	1.12mi
9545 N Travis Dr Unit A Citrus Springs, FL	3.0	2.0	1000	$1,350	$1.35	21d	1	1.12mi
9543B N Travis Dr Unit A Citrus Springs, FL	3.0	2.0	1000	$1,350	$1.35	21d	1	1.16mi
3584 W Burgandy Dr Citrus Springs, FL	3.0	2.0	1413	$1,699	$1.20	21d	1	1.17mi
9475 N Camel Dr Dunnellon, FL	3.0	2.0	1670	$1,800	$1.08	21d	1	1.22mi
8715 N Paradisea Dr Citrus Springs, FL	3.0	2.0	1403	$1,850	$1.32	21d	1	1.22mi
9271 N Peachtree Way Unit 9271 Citrus Springs, FL	2.0	2.0	900	$1,300	$1.44	21d	1	1.26mi
9298 N Mendoza Way Citrus Springs, FL	3.0	2.0	1350	$1,800	$1.33	21d	1	1.29mi
9337 N Mendoza Way Citrus Springs, FL	2.0	2.0	984	$1,275	$1.30	21d	1	1.30mi
9437 N Travis Dr Citrus Springs, FL	2.0	2.0	972	$1,325	$1.36	21d	1	1.35mi
9262 N Travis Dr Citrus Springs, FL	2.0	2.0	984	$1,395	$1.42	21d	1	1.37mi
1912 W Quaker Ln Citrus Springs, FL	4.0	2.0	1636	$1,895	$1.16	21d	1	1.39mi
9018 N Mendoza Way Citrus Springs, FL	2.0	2.0	1225	$1,499	$1.22	21d	1	1.42mi
9995 N Sandree Dr Citrus Springs, FL	3.0	2.0	1453	$1,895	$1.30	21d	1	1.43mi
7938 N Maltese Dr Citrus Springs, FL	4.0	2.0	1833	$2,150	$1.17	21d	1	1.46mi
8030 N Galena Ave Citrus Springs, FL	4.0	2.0	1833	$2,150	$1.17	21d	1	1.49mi

Listing history 39 events

1. 2026-06-19
   days on market $230,000 Active 69 DOM
2. 2026-06-18
   days on market $230,000 Active 68 DOM
3. 2026-06-17
   days on market $230,000 Active 67 DOM
4. 2026-06-16
   days on market $230,000 Active 66 DOM
5. 2026-06-15
   days on market $230,000 Active 65 DOM
6. 2026-06-14
   days on market $230,000 Active 63 DOM
7. 2026-06-13
   days on market $230,000 Active 62 DOM
8. 2026-06-09
   days on market $230,000 Active 59 DOM
9. 2026-06-08
   days on market $230,000 Active 58 DOM
10. 2026-06-07
    days on market $230,000 Active 57 DOM
11. 2026-06-03
    days on market $230,000 Active 53 DOM
12. 2026-06-02
    days on market $230,000 Active 52 DOM
13. 2026-06-01
    days on market $230,000 Active 51 DOM
14. 2026-05-31
    days on market $230,000 Active 50 DOM
15. 2026-05-30
    days on market $230,000 Active 49 DOM
16. 2026-05-20
    status Active
17. 2026-05-04
    status Pending
18. 2026-04-24
    price $230,000
19. 2026-04-06
    price $240,000
20. 2026-03-26
    listed $250,000 Active
21. 2026-02-11
    price $255,000
22. 2026-02-11
    price $255,000
23. 2026-01-26
    price $260,000
24. 2026-01-26
    price $260,000
25. 2026-01-19
    price $264,000
26. 2026-01-19
    listed $264,000 Active
27. 2024-03-01
    historical
28. 2024-02-29
    soldstatus $233,000 Closed
29. 2024-02-29
    soldstatus $233,000
30. 2024-01-24
    status Pending
31. 2024-01-05
    listed $232,000 Active
32. 2011-04-07
    soldstatus $63,700
33. 2011-03-31
    soldstatus $63,700
34. 2010-05-03
    listed $65,000
35. 2008-08-27
    historical
36. 2008-03-10
    listed $103,500
37. 1989-09-01
    soldstatus $66,000
38. 1981-05-01
    soldstatus $55,000
39. 1978-02-01
    soldstatus $38,000

ⓘ 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: $693 · $58/mo
• Projected year-2 tax: $1,909 · $159/mo
• Expected delta: +$1,216/yr (+$101/mo · 175.4%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 24 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: $21,421
• − Mortgage interest: −$12,884
• − Property taxes: −$693
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,714
• − Management: −$1,714
• − Depreciation: −$6,691
• Taxable loss: −$3,424
• Est. tax savings @ 24.0%: +$822
• After-tax cash flow: $1,427/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

+505.3% since first listed

24 events — show timeline

• 2026-05-20 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-24 Price Changed $230,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-06 Price Changed $240,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Listed $250,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-11 Price Changed $255,000 RACC
• 2026-02-11 Price Changed $255,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-26 Price Changed $260,000 RACC
• 2026-01-26 Price Changed $260,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-19 Price Changed $264,000 RACC
• 2026-01-19 Listed $264,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-02-29 Sold (Public Records) $233,000 Public Records
• 2024-02-29 Sold (MLS) $233,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-01-05 Listed $232,000 Stellar MLS as Distributed by MLS Grid
• 2011-04-07 Sold (Public Records) $63,700 Public Records
• 2011-03-31 Sold (MLS) $63,700 RACC
• 2010-05-03 Listed $65,000 RACC
• 2008-08-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-03-10 Listed $103,500 Stellar MLS as Distributed by MLS Grid
• 1989-09-01 Sold (Public Records) $66,000 Public Records
• 1981-05-01 Sold (Public Records) $55,000 Public Records
• 1978-02-01 Sold (Public Records) $38,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $693 · -73.0% YoY. Source: county tax records.