6818 E Queensbury Ln · Inverness Highlands South, FL 34452

$175,000

2 bd · 2.0 ba · 1,468 sqft · Condo public records · 135 Days on market

Built 1992 $281/mo HOA · 15% of rent

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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 +13.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +4.1/10.0
• DSCR +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This spacious 2bed/2 full bath villa is exactly what you have been looking for! One of the largest units available in Royal Oaks! Priced to move with great square footage and living space. All the amenities that you would come to expect in Royal Oaks community including; full clubhouse access, pool, fitness center, walking paths, along with you public sewer and water! This well-maintained home includes all the comfort and style of low maintenance living! All this home needs are a little cosmetic update such as paint and carpet, and it is ready to move in! This home is located near shopping, dining and the downtown liveliness of Inverness. Don't miss your opportunity to own this great home!

Key facts

• Fitness center
• Near shopping
• Pool

Tags

• FULL CLUBHOUSE ACCESS
• POOL
• FITNESS CENTER
• WALKING PATHS
• LOW MAINTENANCE LIVING
• NEAR SHOPPING

Property features AI

Finance

• Other: Community features include clubhouse, deed restrictions, dog park, fitness center, pool; Senior community; Pets allowed (cats and dogs); Unfurnished
• Financial info: Lease restrictions apply
• HOA & community: HOA: Royal Oaks; Monthly HOA fee approximately $281; HOA approval required; Association amenities: clubhouse, fitness center, gated community, pool, recreation facilities, tennis courts, shuffleboard, lobby key required, maintenance; Association fee includes cable TV, pool, internet, grounds maintenance, management, private road, recreational facilities, sewer, trash, water

Exterior

• Parking: Attached garage (2 spaces)
• Utilities: Private water source; Private sewer; Cable connected; Electricity connected; Public utilities available; Water connected
• Home design: Villa (residential); Single-story; Faces north; Entry on one level
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built on lot approximately 0.09 acres (30 x 125)
• Exterior features: Sidewalk; Sliding doors; Irrigation equipment

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms (1st floor)
• Flooring: Carpet; Linoleum; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Ceiling fans; Kitchen/family room combo; Open floorplan; Solid surface counters; Thermostat; Walk-in closet(s); Skylight(s)
• Laundry & utility: Washer; Dryer; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-2 ($-20/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (0.2% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 5.0% in Inverness Highlands South — 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 (#508 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, health & safety C-, 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: Inverness Primary School (math 54% / reading 55%, grade C, #892 of 2,144 statewide, top 44%, 683 students, 65% FRL); Inverness Middle School (math 52% / reading 48%, grade C, #254 of 571 statewide, top 45%, 1,017 students, 60% FRL); Citrus High School (math 34% / reading 51%, grade F, #264 of 667 statewide, top 41%, 1,503 students, 54% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 262 active listings in the ZIP; 10 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 135 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $69k; list at $175k implies a 154% 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 $154,000 (12.0% 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 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 6.28%
• Cash-on-cash: -0.04%
• DSCR: 1.00
• GRM: 7.8

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: -16.2%
• Equity multiple: 0.42×
• Total profit: $-28,271
• Equity at exit: $26,093

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-23,964
• Equity at exit: $15,131

Cash invested: $49,000 (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 34452

• Home prices YoY: -25.2%
• Active inventory: 262
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,872 high
• Mortgage (P&I): −$918
• Tax from tax record: −$209 /mo · $2,511/yr
• Insurance: −$73
• HOA: −$281
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-2

Break-even live

Break-even rent $1,875

Max offer price $174,700

Occupancy floor 95%

Sensitivity live

Price	-10% $97	-5% $48	+0% $-2	+5% $-51	+10% $-101
Rent	-10% $-150	-5% $-76	+0% $-2	+5% $72	+10% $146
Rate	-1.0pp $86	-0.5pp $43	base $-2	+0.5pp $-47	+1.0pp $-93

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3521 S Belgrave Dr Inverness, FL	2.0	2.0	1554	$2,250	$1.45	23d	1	0.03mi
6874 E Culpepper Ct Inverness, FL	2.0	2.0	1233	$1,600	$1.30	23d	1	0.08mi
908 Columbia Ln Inverness, FL	3.0	2.0	1334	$1,800	$1.35	23d	1	0.33mi
3367 S Dalton Ter Inverness, FL	3.0	2.0	1357	$1,795	$1.32	23d	1	0.35mi
6106 E Calico Ln Inverness, FL	2.0	1.0	1126	$1,500	$1.33	23d	1	0.75mi
1112 Eden Dr Inverness, FL	3.0	2.0	1334	$1,750	$1.31	23d	1	0.93mi
1017 Carnegie Dr Inverness, FL	3.0	2.0	1334	$1,800	$1.35	23d	1	1.03mi
608 Whitney Ave Inverness, FL	3.0	2.0	1288	$1,660	$1.29	23d	1	1.14mi
732 Sinclair Ter Inverness, FL	3.0	2.0	1347	$1,700	$1.26	23d	1	1.19mi
415 W Circlewood St Inverness, FL	3.0	2.0	1621	$1,850	$1.14	23d	1	1.33mi

HOA detail condo

• Monthly dues: $281 · $3,372/yr
• Likely covers: watersewerpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $175,000 Active 135 DOM
2. 2026-06-19
   days on market $175,000 Active 133 DOM
3. 2026-06-18
   days on market $175,000 Active 132 DOM
4. 2026-06-17
   days on market $175,000 Active 131 DOM
5. 2026-06-16
   days on market $175,000 Active 130 DOM
6. 2026-06-15
   days on market $175,000 Active 129 DOM
7. 2026-06-14
   days on market $175,000 Active 127 DOM
8. 2026-06-13
   days on market $175,000 Active 126 DOM
9. 2026-06-09
   days on market $175,000 Active 123 DOM
10. 2026-06-08
    days on market $175,000 Active 122 DOM
11. 2026-06-03
    days on market $175,000 Active 117 DOM
12. 2026-06-02
    days on market $175,000 Active 116 DOM
13. 2026-06-01
    days on market $175,000 Active 115 DOM
14. 2026-05-31
    days on market $175,000 Active 114 DOM
15. 2026-05-30
    days on market $175,000 Active 113 DOM
16. 2026-02-06
    listed $199,900 Active
17. 1994-07-14
    soldstatus $68,900
18. 1992-06-01
    soldstatus $71,500

ⓘ 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: $2,511 · $209/mo
• Projected year-2 tax: $2,511 · $209/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 9/10 Extreme 7 d/yr ≥108°F today · 25 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: $22,469
• − Mortgage interest: −$9,803
• − Property taxes: −$2,511
• − Insurance: −$875
• − Repairs & maintenance: −$1,798
• − Management: −$1,798
• − HOA: −$3,372
• − Depreciation: −$5,091
• Taxable loss: −$2,778
• Est. tax savings @ 24.0%: +$667
• After-tax cash flow: $646/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 — Inverness Highlands South

• Score: 68/100
• State rank: #508
• US rank: #9372

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Inverness Highlands South, FL
• Population (ZIP): 13,729

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 2%
• Foreign-born: 4% · Canada, Jamaica, Dominican Republic
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -105.43%
• Current HPI: 312.8871
• Rent YoY: —
• Metro: —
• 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

+179.6% since first listed

3 events — show timeline

• 2026-02-06 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 1994-07-14 Sold (Public Records) $68,900 Public Records
• 1992-06-01 Sold (Public Records) $71,500 Public Records

Property tax history

+14.5%/yr

Latest (2025): $2,511 · -0.5% YoY. Source: county tax records.