615 S Crooked Tree Path · Homosassa Springs, FL 34448

$107,900

2 bd · 2.0 ba · 1,248 sqft · Other · 8 Days on market

Built 2005 Good condition

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This beautiful 2005 Jacobsen home is in a well-kept 55+ community and ready to move in. It has 2 bedrooms and 2 bathrooms with a den that can be converted to a 3rd bedroom. Bathrooms have chair-height toilets. It has approximately 1248 sq. ft. of living space, exterior walls built with 2x6 studs, making this a very strong home. All ceiling fans have been updated. The kitchen was remodeled in 2015 and includes a large array of soft-closing cabinetry providing lots of storage. If you like to cook, stainless steel Samsung appliances (convection oven & amp; microwave new in 2021) are fantastic for cooking. Enjoy your coffee every day in your breakfast nook next to the coffee bar looking out

Key facts

• Breakfast nook
• Chair-height toilets
• Ceramic tiled lanai

Tags

• CHAIR-HEIGHT TOILETS
• SOFT-CLOSING CABINETRY
• STAINLESS STEEL APPLIANCES
• BREAKFAST NOOK
• CERAMIC TILED LANAI
• INSULATED ROOF

Property features AI

Exterior

• Home design: Single-family property built in 2005
• Construction: Built in 2005
• Exterior features: Located in the Forest View Estates subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $108k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Cap rate 13.7% 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-, schools F, 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.
• Market conditions: 307 active listings in the ZIP; 4 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).
• At $1,787/mo this rent would consume 47% of the median local household income ($46k/yr) (locally 113% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $746 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $107,900

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.66% ✓
• Cap rate: 13.70%
• Cash-on-cash: 26.47%
• DSCR: 2.18
• GRM: 5.0

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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-1,921
• Equity at exit: $16,088

10-year hold

• IRR: 8.3%
• Equity multiple: 1.63×
• Total profit: $19,169
• Equity at exit: $9,329

Cash invested: $30,212 (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: 307
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,787 medium
• Mortgage (P&I): −$566
• Tax est. 1.5%: −$135 /mo · $1,618/yr
• Insurance: −$45
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $240

Break-even live

Break-even rent $1,484

Max offer price $107,900

Occupancy floor 82%

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: $26,975
• Closing costs: $3,237
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
130 S Suncoast Blvd Crystal River, FL	1.0–2.0	1.0	559	$1,091	$1.95	13d	4	0.60mi
540 N Afterglow Cir Crystal River, FL	3.0	2.0	1500	$2,950	$1.97	21d	1	1.17mi
493 N Sams Pt Crystal River, FL	2.0	2.0	1000	$1,300	$1.30	21d	1	1.36mi
450 N Elmwood Pt Crystal River, FL	2.0	2.0	950	$1,450	$1.53	21d	1	1.42mi

Listing history 9 events

1. 2026-06-19
   days on market $107,900 Active 8 DOM
2. 2026-06-18
   days on market $107,900 Active 7 DOM
3. 2026-06-17
   days on market $107,900 Active 6 DOM
4. 2026-06-17
   pricedays on marketlisting id $107,900 Active 5 DOM
5. 2026-06-16
   days on market $407,900 Active 3 DOM
6. 2026-06-15
   days on market $407,900 Active 2 DOM
7. 2026-06-14
   pricelisting id $407,900 Active 1 DOM
8. 2026-06-13
   remarks 695-char remark
9. 2026-06-13
   listed $107,900 Active 1 DOM

ⓘ 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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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: $21,449
• − Mortgage interest: −$6,044
• − Property taxes: −$1,618
• − Insurance: −$5,658
• − Repairs & maintenance: −$1,716
• − Management: −$1,716
• − Depreciation: −$3,139
• Taxable income: $1,557
• Est. tax owed @ 24.0%: −$374
• After-tax cash flow: $2,504/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.

Condition & rehab AI · 2 photos

Good 80/100 Cosmetic rehab

This 2005 Jacobsen home in a well-maintained 55+ community is in good condition with a good condition score of 80. It has been updated with a new kitchen and appliances, and the exterior appears to be in good condition. The home is ready to move in and has a good resale and rental value with minor updates needed.

Value-add opportunities

• Both Paint the exterior walls and siding — Painting the exterior will improve curb appeal and the home's overall appearance.
• Both Clean the windows — Clean windows will improve natural light and the home's overall appearance.
• Both Replace the flooring in the kitchen and dining area — Replacing the flooring will improve the home's appearance and functionality.
• Both Update the landscaping — Updating the landscaping will improve the home's curb appeal and overall appearance.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior walls and siding — Painting the exterior will improve curb appeal and the home's overall appearance. ↑
• Both Clean the windows — Clean windows will improve natural light and the home's overall appearance. ↑
• Both Replace the flooring in the kitchen and dining area — Replacing the flooring will improve the home's appearance and functionality. ↑
• Both Update the landscaping — Updating the landscaping will improve the home's curb appeal and overall appearance. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

1 event — show timeline

• 2026-06-11 Listed $107,900 FSBO.com