2400 Forest Dr · Inverness, FL 34453

$103,000

2 bd · 2.0 ba · 1,035 sqft · Condo public records · 34 Days on market

Built 1977

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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).

• 1% rule +8.9/10.0
• Cash flow +7.6/30.0
• 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
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a winter retreat or that easy Florida lifestyle? Well, here it is. This inviting space features a bright & spacious living area with neutral floor tones that will complement any décor style. The large glass doors to the patio, fill the living & dining room with natural light. The 2nd floor location offer a nice view of the beautiful surroundings. The removal of carpet and floor update adds to the ease of maintenance. The bedrooms & bathrooms combine functionality and choice, with an en-suite that includes a spacious shower only & the 2nd bath that includes a tub/shower combination. This space is made to accommodate. It’s a space that’s move-in ready, yet full of opportunity for simple updates to reflect your style. Here's a well-maintained foundation to build upon. This community offers a well maintained pool / community center and a shuffleboard area to round out an active lifestyle. The location is central for modern conveniences and community events. Talk about ease of lifestyle, with the cable, wi-fi, water, sewer & trash collection taken care of by the monthly fee paid. . it doesn't get much easier to maintain than that. Come take a look at possibilities that lie ahead. . I love showing this place off.

Key facts

• Well run complex
• Close to everything
• Pool

Tags

• WELL RUN COMPLEX
• POOL
• CLOSE TO EVERYTHING
• SHOPPING
• PARKS
• MEDICAL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $103k.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $103k).
• Recommended offer: $100k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#564 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety 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.
• Market conditions: 421 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $712 of loan paydown is wiped out by about $3k 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 34 days — a 3% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,910 (3.0% 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 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.39% ✓
• Cap rate: 4.84%
• Cash-on-cash: -5.18%
• DSCR: 0.77
• GRM: 6.0

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: -24.6%
• Equity multiple: 0.16×
• Total profit: $-24,257
• Equity at exit: $15,358

10-year hold

• IRR: -18.9%
• Equity multiple: -0.04×
• Total profit: $-29,881
• Equity at exit: $8,906

Cash invested: $28,840 (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 34453

• Home prices YoY: -26.1%
• Active inventory: 421
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,430 high
• Mortgage (P&I): −$540
• Tax from tax record: −$171 /mo · $2,054/yr
• Insurance: −$43
• HOA est. from 27 same-building comps: −$500
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $-124

Break-even live

Break-even rent $1,588

Max offer price $81,029

Occupancy floor —

Sensitivity live

Price	-10% $-66	-5% $-95	+0% $-124	+5% $-154	+10% $-183
Rent	-10% $-237	-5% $-181	+0% $-124	+5% $-68	+10% $-11
Rate	-1.0pp $-73	-0.5pp $-98	base $-124	+0.5pp $-151	+1.0pp $-178

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: $25,750
• Closing costs: $3,090
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 Forest Dr Inverness, FL	2.0	2.0	1035	$1,425	$1.38	22d	2	0.08mi
512 Long Ave Unit B Inverness, FL	2.0	1.0	765	$1,170	$1.53	22d	1	0.13mi
3880 E Byrd St Inverness, FL	3.0	2.0	1380	$1,600	$1.16	22d	1	1.28mi
417 Wilda Ave Inverness, FL	2.0	1.0	870	$1,300	$1.49	22d	1	1.29mi
426 Ella Ave Inverness, FL	2.0	2.0	1304	$2,100	$1.61	22d	1	1.33mi
210 Talmage Ave Inverness, FL	3.0	2.0	1400	$1,600	$1.14	22d	1	1.43mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watersewertrashinternetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-16
   status $103,000 Under Contract 34 DOM
2. 2026-06-15
   days on market $103,000 Active 34 DOM
3. 2026-06-14
   days on market $103,000 Active 32 DOM
4. 2026-06-13
   days on market $103,000 Active 31 DOM
5. 2026-06-09
   days on market $103,000 Active 28 DOM
6. 2026-06-08
   days on market $103,000 Active 27 DOM
7. 2026-06-03
   days on market $103,000 Active 22 DOM
8. 2026-06-02
   days on market $103,000 Active 21 DOM
9. 2026-06-01
   days on market $103,000 Active 20 DOM
10. 2026-05-31
    days on market $103,000 Active 19 DOM
11. 2026-05-30
    days on market $103,000 Active 18 DOM
12. 2026-05-12
    listed $103,000 Active
13. 2026-04-24
    listed $1,850
14. 2025-09-02
    soldstatus $97,000 Closed 1287-char remark

    Show marketing remark (1288 chars)

    Looking for a winter retreat or that easy Florida lifestyle? Well, here it is. This inviting space features a bright & spacious living area with neutral floor tones that will complement any décor style. The large glass doors to the patio, fill the living & dining room with natural light. The 2nd floor location offers a nice view of the beautiful surroundings. The removal of carpet and floor update adds to the ease of maintenance. The bedrooms & bathrooms combine functionality and choice, with an en-suite that includes a spacious shower only & the 2nd bath that includes a tub/shower combination. This space is made to accommodate. It’s a space that’s move-in ready, yet full of opportunity for simple updates to reflect your style. Here's a well-maintained foundation to build upon. This community offers a well maintained pool / community center and a shuffleboard area to round out an active lifestyle. The location is central for modern conveniences and community events. Talk about ease of lifestyle, with the cable, wi-fi, water, sewer & trash collection taken care of by the monthly fee paid. . it doesn't get much easier to maintain than that. Come take a look at possibilities that lie ahead. . I love showing this place off.

15. 2025-09-02
    soldstatus $97,000 Closed 1288-char remark

    Show marketing remark (1288 chars)

    Looking for a winter retreat or that easy Florida lifestyle? Well, here it is. This inviting space features a bright & spacious living area with neutral floor tones that will complement any décor style. The large glass doors to the patio, fill the living & dining room with natural light. The 2nd floor location offers a nice view of the beautiful surroundings. The removal of carpet and floor update adds to the ease of maintenance. The bedrooms & bathrooms combine functionality and choice, with an en-suite that includes a spacious shower only & the 2nd bath that includes a tub/shower combination. This space is made to accommodate. It’s a space that’s move-in ready, yet full of opportunity for simple updates to reflect your style. Here's a well-maintained foundation to build upon. This community offers a well maintained pool / community center and a shuffleboard area to round out an active lifestyle. The location is central for modern conveniences and community events. Talk about ease of lifestyle, with the cable, wi-fi, water, sewer & trash collection taken care of by the monthly fee paid. . it doesn't get much easier to maintain than that. Come take a look at possibilities that lie ahead. . I love showing this place off.

16. 2025-09-02
    soldstatus $97,000

    Show marketing remark (1288 chars)

    Looking for a winter retreat or that easy Florida lifestyle? Well, here it is. This inviting space features a bright & spacious living area with neutral floor tones that will complement any décor style. The large glass doors to the patio, fill the living & dining room with natural light. The 2nd floor location offers a nice view of the beautiful surroundings. The removal of carpet and floor update adds to the ease of maintenance. The bedrooms & bathrooms combine functionality and choice, with an en-suite that includes a spacious shower only & the 2nd bath that includes a tub/shower combination. This space is made to accommodate. It’s a space that’s move-in ready, yet full of opportunity for simple updates to reflect your style. Here's a well-maintained foundation to build upon. This community offers a well maintained pool / community center and a shuffleboard area to round out an active lifestyle. The location is central for modern conveniences and community events. Talk about ease of lifestyle, with the cable, wi-fi, water, sewer & trash collection taken care of by the monthly fee paid. . it doesn't get much easier to maintain than that. Come take a look at possibilities that lie ahead. . I love showing this place off.

17. 2025-08-15
    status Pending 1287-char remark

    Show marketing remark (1287 chars)

    Looking for a winter retreat or that easy Florida lifestyle? Well, here it is. This inviting space features a bright & spacious living area with neutral floor tones that will complement any décor style. The large glass doors to the patio, fill the living & dining room with natural light. The 2nd floor location offer a nice view of the beautiful surroundings. The removal of carpet and floor update adds to the ease of maintenance. The bedrooms & bathrooms combine functionality and choice, with an en-suite that includes a spacious shower only & the 2nd bath that includes a tub/shower combination. This space is made to accommodate. It’s a space that’s move-in ready, yet full of opportunity for simple updates to reflect your style. Here's a well-maintained foundation to build upon. This community offers a well maintained pool / community center and a shuffleboard area to round out an active lifestyle. The location is central for modern conveniences and community events. Talk about ease of lifestyle, with the cable, wi-fi, water, sewer & trash collection taken care of by the monthly fee paid. . it doesn't get much easier to maintain than that. Come take a look at possibilities that lie ahead. . I love showing this place off.

18. 2025-08-04
    status Pending 1287-char remark

    Show marketing remark (1287 chars)

    Looking for a winter retreat or that easy Florida lifestyle? Well, here it is. This inviting space features a bright & spacious living area with neutral floor tones that will complement any décor style. The large glass doors to the patio, fill the living & dining room with natural light. The 2nd floor location offer a nice view of the beautiful surroundings. The removal of carpet and floor update adds to the ease of maintenance. The bedrooms & bathrooms combine functionality and choice, with an en-suite that includes a spacious shower only & the 2nd bath that includes a tub/shower combination. This space is made to accommodate. It’s a space that’s move-in ready, yet full of opportunity for simple updates to reflect your style. Here's a well-maintained foundation to build upon. This community offers a well maintained pool / community center and a shuffleboard area to round out an active lifestyle. The location is central for modern conveniences and community events. Talk about ease of lifestyle, with the cable, wi-fi, water, sewer & trash collection taken care of by the monthly fee paid. . it doesn't get much easier to maintain than that. Come take a look at possibilities that lie ahead. . I love showing this place off.

19. 2025-08-02
    status Pending 1288-char remark

    Show marketing remark (1288 chars)

    Looking for a winter retreat or that easy Florida lifestyle? Well, here it is. This inviting space features a bright & spacious living area with neutral floor tones that will complement any décor style. The large glass doors to the patio, fill the living & dining room with natural light. The 2nd floor location offers a nice view of the beautiful surroundings. The removal of carpet and floor update adds to the ease of maintenance. The bedrooms & bathrooms combine functionality and choice, with an en-suite that includes a spacious shower only & the 2nd bath that includes a tub/shower combination. This space is made to accommodate. It’s a space that’s move-in ready, yet full of opportunity for simple updates to reflect your style. Here's a well-maintained foundation to build upon. This community offers a well maintained pool / community center and a shuffleboard area to round out an active lifestyle. The location is central for modern conveniences and community events. Talk about ease of lifestyle, with the cable, wi-fi, water, sewer & trash collection taken care of by the monthly fee paid. . it doesn't get much easier to maintain than that. Come take a look at possibilities that lie ahead. . I love showing this place off.

20. 2025-07-17
    listed $94,900 Active 1287-char remark

    Show marketing remark (1287 chars)

    Looking for a winter retreat or that easy Florida lifestyle? Well, here it is. This inviting space features a bright & spacious living area with neutral floor tones that will complement any décor style. The large glass doors to the patio, fill the living & dining room with natural light. The 2nd floor location offer a nice view of the beautiful surroundings. The removal of carpet and floor update adds to the ease of maintenance. The bedrooms & bathrooms combine functionality and choice, with an en-suite that includes a spacious shower only & the 2nd bath that includes a tub/shower combination. This space is made to accommodate. It’s a space that’s move-in ready, yet full of opportunity for simple updates to reflect your style. Here's a well-maintained foundation to build upon. This community offers a well maintained pool / community center and a shuffleboard area to round out an active lifestyle. The location is central for modern conveniences and community events. Talk about ease of lifestyle, with the cable, wi-fi, water, sewer & trash collection taken care of by the monthly fee paid. . it doesn't get much easier to maintain than that. Come take a look at possibilities that lie ahead. . I love showing this place off.

21. 2025-07-16
    listed $94,900 Active 1288-char remark

    Show marketing remark (1288 chars)

    Looking for a winter retreat or that easy Florida lifestyle? Well, here it is. This inviting space features a bright & spacious living area with neutral floor tones that will complement any décor style. The large glass doors to the patio, fill the living & dining room with natural light. The 2nd floor location offers a nice view of the beautiful surroundings. The removal of carpet and floor update adds to the ease of maintenance. The bedrooms & bathrooms combine functionality and choice, with an en-suite that includes a spacious shower only & the 2nd bath that includes a tub/shower combination. This space is made to accommodate. It’s a space that’s move-in ready, yet full of opportunity for simple updates to reflect your style. Here's a well-maintained foundation to build upon. This community offers a well maintained pool / community center and a shuffleboard area to round out an active lifestyle. The location is central for modern conveniences and community events. Talk about ease of lifestyle, with the cable, wi-fi, water, sewer & trash collection taken care of by the monthly fee paid. . it doesn't get much easier to maintain than that. Come take a look at possibilities that lie ahead. . I love showing this place off.

22. 2025-03-25
    price $94,900
23. 2003-01-24
    soldstatus $39,000
24. 1979-08-01
    soldstatus $31,000

ⓘ 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: $2,054 · $171/mo
• Projected year-2 tax: $2,054 · $171/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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $17,163
• − Mortgage interest: −$5,770
• − Property taxes: −$2,054
• − Insurance: −$515
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − HOA: −$6,000
• − Depreciation: −$2,996
• Taxable loss: −$2,919
• Est. tax savings @ 24.0%: +$700
• After-tax cash flow: $-792/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

• Score: 67/100
• State rank: #564
• US rank: #10791

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Inverness, FL
• County: Citrus County · 111,314 people
• City population: 10,621
• Metro: Homosassa Springs, FL
• Population (ZIP): 10,621
• Household income: $57,568
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 240.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Black 3% Two or more races 3% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 3% Romanian 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1% Other Asian/Pacific 0%

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: ▼ -103.32%
• Current HPI: 291.8965
• 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

+232.3% since first listed

13 events — show timeline

• 2026-05-12 Listed $103,000 FSBO.com
• 2026-04-24 Listed for Rent $1,850 Avail
• 2025-09-02 Sold (Public Records) $97,000 Public Records
• 2025-09-02 Sold (MLS) $97,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-02 Sold (MLS) $97,000 RACC
• 2025-08-15 Pending — RACC
• 2025-08-04 Pending — RACC
• 2025-08-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-07-17 Listed $94,900 RACC
• 2025-07-16 Listed $94,900 Stellar MLS as Distributed by MLS Grid
• 2025-03-25 Price Changed $94,900 RACC
• 2003-01-24 Sold (Public Records) $39,000 Public Records
• 1979-08-01 Sold (Public Records) $31,000 Public Records

Property tax history

+104.0%/yr

Latest (2025): $2,054 · +1839.0% YoY. Source: county tax records.