2175 S Wigwam Pt · Homosassa Springs, FL 34448

$140,000

2 bd · 1.0 ba · 1,104 sqft · SingleFamily public records · 65 Days on market

Built 1970 1.15 ac lot Est $110k · 27% over

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Why this score? — see what drove the C 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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Attention Rehabbers and Savvy Investors: Bring your vision to this Mediterranean-style retreat tucked away on a sprawling, private 1.15-acre lot. This property offers the perfect "bones" for a high-value transformation in the heart of Homosassa. Built in 1970 with durable concrete block and a stucco exterior, this residence provides a solid foundation for a long-lasting renovation. The interior features 1,104 square feet of living space, including a family room and separate den/study with a focal-point stone fireplace. Outdoor living is equally promising with a shaded patio and front porch that capture quintessential "Old Florida"

Key facts

• Shaded patio
• Stucco exterior
• 1.15 acre lot

Tags

• MEDITERRANEAN STYLE RETREAT
• PRIVATE 1.15 ACRE LOT
• DURABLE CONCRETE BLOCK
• STUCCO EXTERIOR
• FOCAL POINT STONE FIREPLACE
• SHADED PATIO

Property features AI

Finance

• Other: Property is homesteaded; Zoning: LDRMH; Property listed as residential single family; Living area reported as 1,104 (public records); total building area 1,360; Lot accessed via paved road
• HOA & community: No HOA

Exterior

• Parking: 1-car garage
• Utilities: Well water; Septic tank; Cable available; Electricity connected; Phone available; Water connected
• Home design: Single family residence; One story; Faces west; Residential property in fixer condition
• Construction: Block construction; Metal roof; Slab foundation; Built on an oversized, level lot (approx. 1.15 acres, 150 x 335)
• Exterior features: Private mailbox; Exterior storage

Interior

• Kitchen: Other appliance(s)
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning; Wood-burning stone fireplace
• Interior features: Ceiling fans
• Laundry & utility: Inside laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 5.9% in Homosassa Springs — 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 (#391 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime 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: Rock Crusher Elementary School (math 70% / reading 56%, grade B, #582 of 2,144 statewide, top 28%, 665 students, 68% FRL); Crystal River Middle School (math 49% / reading 47%, grade C-, #286 of 571 statewide, top 50%, 900 students, 64% FRL); Crystal River High School (math 31% / reading 44%, grade F, #336 of 667 statewide, top 51%, 1,249 students, 56% FRL).
• Market conditions: 311 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 $968 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $140k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.19% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.52%
• DSCR: 1.65
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $110,400
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2175 S Wigwam Pt	0.00mi	2/1.5	1,104 (0%)	1mo	$110,000	$100	98
2268 S Hull Ter	0.53mi	2/2.0	1,100 (-0%)	24mo	$80,000	$73	51
8098 SW Longfellow St	0.58mi	2/2.0	1,249 (+13%)	12mo	$249,900	$200	36
1984 S Melanie Dr	0.28mi	3/2.0 (+1)	1,264 (+14%)	24mo	$105,000	$83	34

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: 2.2%
• Equity multiple: 1.08×
• Total profit: $3,271
• Equity at exit: $20,874

10-year hold

• IRR: 11.8%
• Equity multiple: 1.92×
• Total profit: $36,239
• Equity at exit: $12,105

Cash invested: $39,200 (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 34448

• Home prices YoY: -26.1%
• Active inventory: 311
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,664 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$48 /mo · $576/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $408

Break-even live

Break-even rent $1,148

Max offer price $140,000

Occupancy floor 70%

Sensitivity live

Price	-10% $487	-5% $447	+0% $408	+5% $368	+10% $328
Rent	-10% $276	-5% $342	+0% $408	+5% $473	+10% $539
Rate	-1.0pp $478	-0.5pp $443	base $408	+0.5pp $371	+1.0pp $335

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-30
   status Pending
2. 2026-04-20
   price $140,000
3. 2026-04-08
   status Active
4. 2026-03-27
   status Pending
5. 2026-02-12
   listed $169,900 Active
6. 1996-08-01
   soldstatus $50,000

ⓘ 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: $576 · $48/mo
• Projected year-2 tax: $1,162 · $97/mo
• Expected delta: +$586/yr (+$49/mo · 101.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 90% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 26 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: $19,971
• − Mortgage interest: −$7,842
• − Property taxes: −$576
• − Insurance: −$1,498
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$4,073
• Taxable income: $2,787
• Est. tax owed @ 24.0%: −$669
• After-tax cash flow: $4,224/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 — Homosassa Springs

• Score: 71/100
• State rank: #391
• US rank: #6877

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homosassa Springs, FL
• County: Citrus County · 111,314 people
• Metro: Homosassa Springs, FL
• Population (ZIP): 10,817
• Household income: $45,916
• Rent vs Own: 14.6% rent · 85.4% own
• Severe rent burden: 113.0

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 3% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -110.27%
• Current HPI: 312.4302
• 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

+180.0% since first listed

6 events — show timeline

• 2026-04-30 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $140,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-12 Listed $169,900 Stellar MLS as Distributed by MLS Grid
• 1996-08-01 Sold (Public Records) $50,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $576 · +13.1% YoY. Source: county tax records.