3786 S Grey Dove Ter · Homosassa Springs, FL 34448

$209,900

3 bd · 2.0 ba · 1,172 sqft · SingleFamily public records · 43 Days on market

Built 2006 7,518 sqft lot Est $219k · at est. $8/mo HOA

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Why this score? — see what drove the C- 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 +18.6/30.0
• ARV discount +9.4/15.0
• DSCR +5.9/10.0
• 1% rule +4.3/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great 3 Bedroom block home in nice area of Homosassa. Perfect home for a first time buyer or as your retirement home. Would make a great rental for any investors portfolio. Nice floor plan with good size kitchen. All the expensive items have been replaced. New roof in 2024 and New HVAC in 2022. Fenced yard for the kids and the fur babies. Ideally located close to everything. Call to see this before it's gone.

Key facts

• 7,518 sq ft lot
• 2 garage spots
• Built 2006

Property features AI

Finance

• Other: Property type: Residential — Single Family Residence; Zoning: PDR; Homestead status: Homestead exempt
• HOA & community: Homeowners association with an annual fee of $97 (about $8.08/month); Association approval not required; Pets allowed with breed restrictions

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer; Cable available; Sewer connected
• Home design: Single family residence; One story; East-facing
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built on a 0.17-acre lot (approx. 75 x 101)
• Exterior features: Rain gutters; Corner lot; Asphalt road frontage; Chain link fencing

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Split bedroom layout; Walk-in closets
• Laundry & utility: Laundry area in garage; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/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 $195k (7.2% below list).
• Recommended offer: $195k (7.2% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 5.9% in Homosassa Springs — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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-, 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: Lecanto Primary School (math 55% / reading 53%, grade C, #936 of 2,144 statewide, top 44%, 820 students, 63% FRL); Lecanto High School (math 46% / reading 53%, grade D, #179 of 667 statewide, top 29%, 1,630 students, 46% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 307 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• At $1,949/mo this rent would consume 51% 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 $1k of loan paydown is wiped out by about $6k 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 43 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 3 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

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,883 (7.2% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.19%
• DSCR: 1.19
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $219,164
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3811 S Red Eagle Ter	0.03mi	3/2.0	1,153 (-2%)	1mo	$198,500	$172	95
6621 W Robin Ln	0.11mi	3/2.0	1,172 (0%)	5mo	$230,000	$196	91
3846 S Grey Dove Ter	0.06mi	3/2.0	1,172 (0%)	11mo	$233,000	$199	88
3888 S Flamingo Ter	0.17mi	3/2.0	1,164 (-1%)	4mo	$230,000	$198	88
6469 W Pelican Ln	0.18mi	3/2.0	1,145 (-2%)	3mo	$151,800	$133	86
6473 W Pelican Ln	0.17mi	3/2.0	1,145 (-2%)	19mo	$205,000	$179	72
3848 S Springbreeze Way	0.32mi	3/2.0	1,258 (+7%)	9mo	$233,600	$186	66
6499 W Rosedale Dr	0.50mi	2/2.0 (-1)	1,208 (+3%)	6mo	$260,000	$215	61
3803 S Sandpiper Ter	0.16mi	2/2.0 (-1)	996 (-15%)	12mo	$142,500	$143	53
4135 S Skylark Ter	0.42mi	2/2.0 (-1)	1,292 (+10%)	14mo	$187,500	$145	47
6009 W Wayward Wind Loop	0.48mi	3/2.0	1,311 (+12%)	16mo	$300,000	$229	44
3820 S Kindness Ter	0.54mi	3/1.5	1,036 (-12%)	14mo	$194,000	$187	41

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: -9.8%
• Equity multiple: 0.64×
• Total profit: $-20,989
• Equity at exit: $31,297

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-1,623
• Equity at exit: $18,148

Cash invested: $58,772 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,949 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$138 /mo · $1,659/yr
• Insurance: −$87
• HOA: −$8
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $205

Break-even live

Break-even rent $1,689

Max offer price $209,900

Occupancy floor 84%

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3844 S Swan Ter Homosassa, FL	3.0	2.0	1172	$1,800	$1.54	21d	1	0.11mi

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 18 events

1. 2026-06-19
   days on market $209,900 Active 43 DOM
2. 2026-06-18
   days on market $209,900 Active 42 DOM
3. 2026-06-17
   days on market $209,900 Active 41 DOM
4. 2026-06-16
   days on market $209,900 Active 40 DOM
5. 2026-06-15
   days on market $209,900 Active 39 DOM
6. 2026-06-14
   days on market $209,900 Active 37 DOM
7. 2026-06-13
   days on market $209,900 Active 36 DOM
8. 2026-06-09
   days on market $209,900 Active 33 DOM
9. 2026-06-08
   days on market $209,900 Active 32 DOM
10. 2026-06-07
    days on market $209,900 Active 31 DOM
11. 2026-06-03
    days on market $209,900 Active 27 DOM
12. 2026-06-02
    days on market $209,900 Active 26 DOM
13. 2026-06-01
    days on market $209,900 Active 25 DOM
14. 2026-05-31
    days on market $209,900 Active 24 DOM
15. 2026-05-30
    days on market $209,900 Active 23 DOM
16. 2026-05-07
    listed $209,900 Active
17. 2026-05-06
    listed $209,900 Active 412-char remark

    Show marketing remark (412 chars)

    Great 3 Bedroom block home in nice area of Homosassa. Perfect home for a first time buyer or as your retirement home. Would make a great rental for any investors portfolio. Nice floor plan with good size kitchen. All the expensive items have been replaced. New roof in 2024 and New HVAC in 2022. Fenced yard for the kids and the fur babies. Ideally located close to everything. Call to see this before it's gone.

18. 2026-04-24
    listed $209,900 Active 412-char remark

    Show marketing remark (412 chars)

    Great 3 Bedroom block home in nice area of Homosassa. Perfect home for a first time buyer or as your retirement home. Would make a great rental for any investors portfolio. Nice floor plan with good size kitchen. All the expensive items have been replaced. New roof in 2024 and New HVAC in 2022. Fenced yard for the kids and the fur babies. Ideally located close to everything. Call to see this before it's gone.

ⓘ 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: $1,659 · $138/mo
• Projected year-2 tax: $1,742 · $145/mo
• Expected delta: +$83/yr (+$7/mo · 5.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $23,386
• − Mortgage interest: −$11,758
• − Property taxes: −$1,659
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − HOA: −$96
• − Depreciation: −$6,106
• Taxable loss: −$1,024
• Est. tax savings @ 24.0%: +$246
• After-tax cash flow: $2,707/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 — 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

• Census place: Homosassa Springs, FL
• County: Citrus County · 111,314 people
• City population: 29,919
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-07 Listed $209,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-06 Listed $209,900 HCAR
• 2026-04-24 Listed $209,900 RACC

Property tax history

+10.6%/yr

Latest (2025): $1,659 · +6.4% YoY. Source: county tax records.