121 N Seminole Ave · Inverness, FL 34450

$274,000

2 bd · 2.5 ba · 1,510 sqft · SingleFamily public records · 64 Days on market

Built 1957 7,500 sqft lot Est $353k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.7/30.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience the Inverness Renaissance! Ideally situated in the heart of the city recently named the #2 Best Small Town in the South, this 1,510 sq. ft. masonry corner lot gem offers a rare 'Live/Work' opportunity with prime Central Business District (CBD) zoning. Whether you envision a trendy downtown residence or a distinguished professional office, this property is turn-key with a NEW ROOF (2022), tile flooring throughout, and a 189 sq. ft. spacious enclosed lanai ideal as additional flex or reception space. Enjoy unmatched walkability to upscale dining like Twysted Vyne, the Valerie Theatre, and the Withlacoochee State Trail. Positioned directly in the path of progress, you are steps away from the city's vibrant multi-million dollar Pine Street infrastructure expansion, adding immense value and convenience. Complete with its own carport.

Key facts

• Carport
• Tile flooring
• Corner unit

Tags

• NEW ROOF
• TILE FLOORING
• ENCLOSED LANAI
• CARPORT
• CORNER UNIT

Property features AI

Finance

• Other: Zoned CBD; Lot about 0.17 acres (approx. 80x95); Living area reported as 1,510; total building area reported as 2,319
• Financial info: No lease restrictions
• HOA & community: No HOA; Senior community

Exterior

• Parking: Private carport (1 space); Public on-street parking nearby
• Utilities: Public water; Public sewer; Cable available; High-speed/BB Internet available; Electricity connected
• Home design: Single family residence; Residential property; One story; Faces north; Corner lot (80 x 95)
• Construction: Block, concrete and stucco construction; Shingle roof; Block and slab foundation; Built on one level
• Exterior features: Sidewalk

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 2 full baths; 1 half bath
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Tile flooring; Range; Refrigerator
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $274k.

Deal economics

• At list price, monthly cash flow is $20 ($238/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (20.1% below list).
• Recommended offer: $219k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.9% in Inverness — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Inverness Primary School (math 54% / reading 55%, grade C, #892 of 2,144 statewide, top 44%, 683 students, 65% 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: 208 active listings in the ZIP; 10 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).

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 64 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; list at $274k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• 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 $219,015 (20.1% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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?
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: 0.80% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.31%
• DSCR: 1.01
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $353,340
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 N Osceola Ave	0.08mi	3/2.0 (+1)	1,404 (-7%)	10mo	$204,500	$146	69
503 Palma Ceia Pt	0.50mi	2/2.0	1,452 (-4%)	1mo	$249,900	$172	68
212 Buena Vista Ct	0.63mi	3/2.0 (+1)	1,514 (+0%)	2mo	$345,000	$228	61
210 Buena Vista Ct	0.64mi	3/2.0 (+1)	1,514 (+0%)	2mo	$355,000	$234	61
409 S Apopka Ave	0.62mi	2/2.0	1,458 (-3%)	6mo	$218,000	$150	58
112 Cabot St	0.68mi	3/2.0 (+1)	1,505 (-0%)	9mo	$250,000	$166	53
542 San Remo Cir	0.66mi	3/2.0 (+1)	1,602 (+6%)	3mo	$432,704	$270	50
540 San Remo Cir	0.66mi	3/2.0 (+1)	1,581 (+5%)	7mo	$430,000	$272	48
217 Buena Vista Ct	0.59mi	3/2.0 (+1)	1,616 (+7%)	8mo	$379,000	$235	47
508 Lake St	0.28mi	3/1.0 (+1)	1,308 (-13%)	10mo	$345,000	$264	45
101 Blanton Dr	0.74mi	1/1.5 (-1)	1,400 (-7%)	2mo	$649,000	$464	42
408 S Apopka Ave	0.62mi	3/2.5 (+1)	1,647 (+9%)	15mo	$278,000	$169	39

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: -15.8%
• Equity multiple: 0.44×
• Total profit: $-43,216
• Equity at exit: $40,854

10-year hold

• IRR: -7.5%
• Equity multiple: 0.53×
• Total profit: $-36,328
• Equity at exit: $23,691

Cash invested: $76,720 (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 34450

• Home prices YoY: -18.7%
• Active inventory: 208
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,190 high
• Mortgage (P&I): −$1,437
• Tax from tax record: −$159 /mo · $1,912/yr
• Insurance: −$114
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $20

Break-even live

Break-even rent $2,165

Max offer price $274,000

Occupancy floor 94%

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: $68,500
• Closing costs: $8,220
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
419 N Apopka Ave Inverness, FL	2.0	2.0	1503	$3,500	$2.33	21d	1	0.41mi
210 Talmage Ave Inverness, FL	3.0	2.0	1400	$1,600	$1.14	21d	1	0.41mi
426 Ella Ave Inverness, FL	2.0	2.0	1304	$2,100	$1.61	21d	1	0.56mi
415 W Circlewood St Inverness, FL	3.0	2.0	1621	$1,850	$1.14	21d	1	0.70mi
608 Whitney Ave Inverness, FL	3.0	2.0	1288	$1,660	$1.29	21d	1	0.86mi
876 Pritchard Island Rd Inverness, FL	2.0	2.0	1148	$2,200	$1.92	21d	1	0.96mi
908 Pritchard Island Rd Inverness, FL	2.0	2.0	1148	$2,200	$1.92	21d	1	1.01mi
215 Bittern Loop Inverness, FL	3.0	2.0	1529	$1,900	$1.24	21d	1	1.26mi
1821 Kimberly Ln Inverness, FL	3.0	2.0	1554	$1,800	$1.16	21d	1	1.40mi
1112 Eden Dr Inverness, FL	3.0	2.0	1334	$1,750	$1.31	21d	1	1.42mi

Listing history 24 events

1. 2026-06-19
   days on market $274,000 Active 64 DOM
2. 2026-06-18
   days on market $274,000 Active 63 DOM
3. 2026-06-17
   days on market $274,000 Active 62 DOM
4. 2026-06-16
   days on market $274,000 Active 61 DOM
5. 2026-06-15
   days on market $274,000 Active 60 DOM
6. 2026-06-14
   days on market $274,000 Active 58 DOM
7. 2026-06-13
   days on market $274,000 Active 57 DOM
8. 2026-06-09
   days on market $274,000 Active 54 DOM
9. 2026-06-08
   days on market $274,000 Active 53 DOM
10. 2026-06-07
    pricedays on market $274,000 Active 52 DOM
11. 2026-06-03
    days on market $289,000 Active 48 DOM
12. 2026-06-02
    days on market $289,000 Active 47 DOM
13. 2026-06-01
    days on market $289,000 Active 46 DOM
14. 2026-05-31
    days on market $289,000 Active 45 DOM
15. 2026-05-30
    days on market $289,000 Active 44 DOM
16. 2026-05-20
    price $289,000 851-char remark

    Show marketing remark (851 chars)

    Experience the Inverness Renaissance! Ideally situated in the heart of the city recently named the #2 Best Small Town in the South, this 1,510 sq. ft. masonry corner lot gem offers a rare 'Live/Work' opportunity with prime Central Business District (CBD) zoning. Whether you envision a trendy downtown residence or a distinguished professional office, this property is turn-key with a NEW ROOF (2022), tile flooring throughout, and a 189 sq. ft. spacious enclosed lanai ideal as additional flex or reception space. Enjoy unmatched walkability to upscale dining like Twysted Vyne, the Valerie Theatre, and the Withlacoochee State Trail. Positioned directly in the path of progress, you are steps away from the city's vibrant multi-million dollar Pine Street infrastructure expansion, adding immense value and convenience. Complete with its own carport.

17. 2026-05-20
    price $289,000

    Show marketing remark (851 chars)

    Experience the Inverness Renaissance! Ideally situated in the heart of the city recently named the #2 Best Small Town in the South, this 1,510 sq. ft. masonry corner lot gem offers a rare 'Live/Work' opportunity with prime Central Business District (CBD) zoning. Whether you envision a trendy downtown residence or a distinguished professional office, this property is turn-key with a NEW ROOF (2022), tile flooring throughout, and a 189 sq. ft. spacious enclosed lanai ideal as additional flex or reception space. Enjoy unmatched walkability to upscale dining like Twysted Vyne, the Valerie Theatre, and the Withlacoochee State Trail. Positioned directly in the path of progress, you are steps away from the city's vibrant multi-million dollar Pine Street infrastructure expansion, adding immense value and convenience. Complete with its own carport.

18. 2026-04-16
    listed $299,000 Active 851-char remark

    Show marketing remark (851 chars)

    Experience the Inverness Renaissance! Ideally situated in the heart of the city recently named the #2 Best Small Town in the South, this 1,510 sq. ft. masonry corner lot gem offers a rare 'Live/Work' opportunity with prime Central Business District (CBD) zoning. Whether you envision a trendy downtown residence or a distinguished professional office, this property is turn-key with a NEW ROOF (2022), tile flooring throughout, and a 189 sq. ft. spacious enclosed lanai ideal as additional flex or reception space. Enjoy unmatched walkability to upscale dining like Twysted Vyne, the Valerie Theatre, and the Withlacoochee State Trail. Positioned directly in the path of progress, you are steps away from the city's vibrant multi-million dollar Pine Street infrastructure expansion, adding immense value and convenience. Complete with its own carport.

19. 2026-04-16
    listed $299,000 Active

    Show marketing remark (851 chars)

    Experience the Inverness Renaissance! Ideally situated in the heart of the city recently named the #2 Best Small Town in the South, this 1,510 sq. ft. masonry corner lot gem offers a rare 'Live/Work' opportunity with prime Central Business District (CBD) zoning. Whether you envision a trendy downtown residence or a distinguished professional office, this property is turn-key with a NEW ROOF (2022), tile flooring throughout, and a 189 sq. ft. spacious enclosed lanai ideal as additional flex or reception space. Enjoy unmatched walkability to upscale dining like Twysted Vyne, the Valerie Theatre, and the Withlacoochee State Trail. Positioned directly in the path of progress, you are steps away from the city's vibrant multi-million dollar Pine Street infrastructure expansion, adding immense value and convenience. Complete with its own carport.

20. 2025-04-30
    historical
21. 2024-12-18
    price $290,000
22. 2024-10-21
    listed $310,000 Active
23. 2007-02-27
    soldstatus $180,000
24. 2001-08-03
    soldstatus $40,000

ⓘ 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: $1,912 · $159/mo
• Projected year-2 tax: $2,274 · $190/mo
• Expected delta: +$362/yr (+$30/mo · 18.9%)

ⓘ 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 · 24 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: $26,282
• − Mortgage interest: −$15,348
• − Property taxes: −$1,912
• − Insurance: −$1,370
• − Repairs & maintenance: −$2,103
• − Management: −$2,103
• − Depreciation: −$7,971
• Taxable loss: −$4,524
• Est. tax savings @ 24.0%: +$1,086
• After-tax cash flow: $1,324/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
• City population: 10,621
• Population (ZIP): 10,408

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 (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 8% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 3% Tagalog/Filipino 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: ▼ -72.56%
• Current HPI: 315.9725
• 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

+622.5% since first listed

9 events — show timeline

• 2026-05-20 Price Changed $289,000 RACC
• 2026-05-20 Price Changed $289,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-16 Listed $299,000 RACC
• 2026-04-16 Listed $299,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-12-18 Price Changed $290,000 RACC
• 2024-10-21 Listed $310,000 Stellar MLS as Distributed by MLS Grid
• 2007-02-27 Sold (Public Records) $180,000 Public Records
• 2001-08-03 Sold (Public Records) $40,000 Public Records

Property tax history

-2.3%/yr

Latest (2015): $1,912 · -2.3% YoY. Source: county tax records.