2053 W Magenta Dr · Citrus Springs, FL 34434

$274,990

4 bd · 3.0 ba · 1,902 sqft · Land · 86 Days on market

Built 2025 10,019 sqft lot

---

Why this score? — see what drove the F 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 +7.9/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0
• Appreciation +0.1/10.0

Listing remarks

Move-in-ready NEW construction Grove Model located in Dunnellon! This beautiful 4-bedroom, 3-bathroom, 2-car garage home offers 1,902 square feet of living space with a spacious open floor plan. Interior features include luxury vinyl plank flooring throughout, tray ceilings in the living room, and a designer kitchen with custom white shaker cabinets, soft-close drawers, stainless steel appliances, a large pantry, and sleek white quartz countertops. The spacious primary bedroom features a walk-in closet and an en-suite bathroom with a double-sink vanity and walk-in shower. Additional highlights include a covered lanai, durable concrete block construction, and double-pane energy-efficient win

Key facts

• Open floor plan
• Designer kitchen
• New construction

Tags

• NEW CONSTRUCTION
• OPEN FLOOR PLAN
• LUXURY VINYL PLANK FLOORING
• TRAY CEILINGS
• DESIGNER KITCHEN
• CUSTOM WHITE SHAKER CABINETS

Property features AI

Finance

• Other: Located on a county road; Lot approximately 0.23 acres; Zoning: PDR

Exterior

• Parking: Attached 2-car garage; Driveway; Concrete surfaces
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence; One story; New construction; Facing information not provided
• Construction: Stucco construction; Block foundation; Built as new construction
• Exterior features: Asphalt shingle roof; No pool

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Tray ceilings; Eat-in kitchen; Open floorplan; Pantry; Stone countertops; Walk-in closets

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $275k.

Deal economics

• At list price, monthly cash flow is $-293 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (26.0% below list).
• Recommended offer: $203k (26.0% below list) — sets the bar for 1% rule.

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); 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: 1247 active listings in the ZIP; 13 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 35% 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 $8k 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 86 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $9k; list at $275k implies a 2955% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,450 (26.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
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: 0.74% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.57%
• DSCR: 0.80
• GRM: 11.3

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: -24.0%
• Equity multiple: 0.18×
• Total profit: $-63,200
• Equity at exit: $41,002

10-year hold

• IRR: -19.2%
• Equity multiple: -0.03×
• Total profit: $-78,949
• Equity at exit: $23,776

Cash invested: $76,997 (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: 11.3×

Monthly cashflow live

• Estimated rent: $2,034 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-293

Break-even live

Break-even rent $2,406

Max offer price $232,572

Occupancy floor —

Sensitivity live

Price	-10% $-103	-5% $-198	+0% $-293	+5% $-388	+10% $-483
Rent	-10% $-454	-5% $-374	+0% $-293	+5% $-213	+10% $-132
Rate	-1.0pp $-155	-0.5pp $-223	base $-293	+0.5pp $-364	+1.0pp $-437

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: $68,748
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2186 W G Martinelli Blvd Citrus Springs, FL	3.0	2.0	1448	$1,950	$1.35	22d	1	0.16mi
2315 W Striblin Dr Citrus Springs, FL	4.0	2.5	2172	$2,050	$0.94	22d	1	0.46mi
10990 N Adler Dr Citrus Springs, FL	4.0	2.0	1833	$2,100	$1.15	22d	1	0.54mi
11745 W Shenandoah Way Citrus Springs, FL	4.0	3.0	1836	$1,745	$0.95	22d	1	0.70mi
10872 N Frantz Ave Citrus Springs, FL	4.0	2.0	1449	$1,815	$1.25	22d	1	0.72mi
11128 N Easter Ter Citrus Springs, FL	4.0	2.0	1800	$1,800	$1.00	22d	1	0.90mi
11112 N Easter Ter Citrus Springs, FL	4.0	2.0	1800	$1,800	$1.00	22d	1	0.90mi
1924 W Roseboro Dr Dunnellon, FL	4.0	2.0	1449	$1,795	$1.24	22d	1	0.96mi
1150 W G Martinelli Blvd Citrus Springs, FL	3.0	2.0	1276	$1,600	$1.25	22d	1	0.98mi
11127 N Trigger Ter Citrus Springs, FL	3.0	2.0	1409	$1,795	$1.27	22d	1	1.02mi
2799 W Sheila Dr Citrus Springs, FL	4.0	2.0	1449	$1,815	$1.25	22d	1	1.06mi
2963 W Sheila Dr Citrus Springs, FL	4.0	3.0	1952	$1,850	$0.95	22d	1	1.19mi
2955 W Pintado Dr Citrus Springs, FL	4.0	2.5	2054	$2,095	$1.02	22d	1	1.26mi

Listing history 8 events

1. 2026-06-08
   status $274,990 Pending 86 DOM
2. 2026-06-03
   days on market $274,990 Active 86 DOM
3. 2026-06-02
   pricedays on market $274,990 Active 85 DOM
4. 2026-06-01
   days on market $289,990 Active 84 DOM
5. 2026-05-31
   days on market $289,990 Active 83 DOM
6. 2026-05-30
   days on market $289,990 Active 82 DOM
7. 2026-03-09
   listed $289,990 Active
8. 2024-08-26
   soldstatus $9,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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: $24,414
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − Depreciation: −$8,000
• Taxable loss: −$8,395
• Est. tax savings @ 24.0%: +$2,015
• After-tax cash flow: $-1,503/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

• County: Citrus County · 111,314 people
• City population: 18,514
• 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

+3122.1% since first listed

2 events — show timeline

• 2026-03-09 Listed $289,990 RACC
• 2024-08-26 Sold (Public Records) $9,000 Public Records

Property tax history

+17.2%/yr

Latest (2025): $286 · +114.9% YoY. Source: county tax records.