1318 Andrew St · Inverness, FL 34453

$145,000

2 bd · 1.0 ba · 975 sqft · SingleFamily public records · 60 Days on market

Built 1958 0.34 ac lot Est $177k · 18% under

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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 +16.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• 1% rule +4.6/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special with strong income potential. This fixer-upper offers a rare opportunity to own two separate dwellings on one property, creating the possibility for dual rental income or multi-generational living. Each unit has its own space, allowing for flexibility in leasing or occupancy. Centrally located with convenient access to major roads, shopping, dining, and local amenities. The property requires renovation and is priced accordingly, making it ideal for investors or buyers looking to add value and build equity. Bring your vision and restore this property to its full potential. Opportunities like this, with multiple income streams, are limited.

Key facts

• Convenient access
• Dual rental income
• Local amenities

Tags

• TWO SEPARATE DWELLINGS
• DUAL RENTAL INCOME
• MULTI-GENERATIONAL LIVING
• FLEXIBILITY IN LEASING
• CONVENIENT ACCESS
• LOCAL AMENITIES

Property features AI

Finance

• Other: Property type: Residential — Single Family Residence; Zoning: IM
• Financial info: No investor or income/expense information provided
• HOA & community: No HOA

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Private water; Public sewer; Electricity available
• Home design: Single family residence; One story; Faces north
• Construction: Frame construction; Metal roof; Slab foundation; Built on a 0.34-acre lot (approx. 150 x 100)
• Exterior features: Limerock road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating listed; Central air; Wall/window unit(s)
• Interior features: No notable interior features listed
• Laundry & utility: Outdoor laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/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 $139k (4.4% below list).
• Recommended offer: $139k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.9% in Inverness — 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 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; 3 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 $1k of loan paydown is wiped out by about $4k 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 60 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,566 (4.4% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.96% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.61%
• DSCR: 1.12
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $177,450
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5403 E Tangelo Ln	0.51mi	2/1.0	964 (-1%)	2mo	$169,000	$175	73
636 Whispering Pines Blvd	0.66mi	2/2.0	971 (-0%)	2mo	$170,000	$175	63
5175 E Tangelo Ln	0.47mi	2/1.0	848 (-13%)	4mo	$175,000	$206	53
1019 E Turner Camp Rd	0.66mi	2/2.0	988 (+1%)	12mo	$144,000	$146	53
654 Whispering Pines Blvd	0.62mi	2/2.0	971 (-0%)	18mo	$182,000	$187	51
1867 Elderberry Ln	0.71mi	2/2.0	991 (+2%)	16mo	$178,000	$180	47
1864 Juneberry Ln	0.72mi	2/2.0	959 (-2%)	22mo	$174,999	$182	41
1018 Jones Ave	0.63mi	3/1.0 (+1)	1,066 (+9%)	15mo	$199,900	$188	38
904 Russell Ave	0.61mi	2/1.0	1,102 (+13%)	19mo	$215,000	$195	34

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-17,850
• Equity at exit: $21,620

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-8,208
• Equity at exit: $12,537

Cash invested: $40,600 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,386 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$186 /mo · $2,227/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $88

Break-even live

Break-even rent $1,274

Max offer price $145,000

Occupancy floor 89%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 Forest Dr Inverness, FL	2.0	2.0	1035	$1,425	$1.38	20d	2	1.12mi
512 Long Ave Unit B Inverness, FL	2.0	1.0	765	$1,170	$1.53	20d	1	1.19mi
412 Tompkins St Unit 4 Inverness, FL	2.0	1.0	810	$1,300	$1.60	20d	1	1.47mi

Listing history 16 events

1. 2026-06-19
   days on market $145,000 Active 60 DOM
2. 2026-06-18
   days on market $145,000 Active 59 DOM
3. 2026-06-17
   days on market $145,000 Active 58 DOM
4. 2026-06-16
   days on market $145,000 Active 57 DOM
5. 2026-06-15
   days on market $145,000 Active 56 DOM
6. 2026-06-14
   days on market $145,000 Active 54 DOM
7. 2026-06-13
   days on market $145,000 Active 53 DOM
8. 2026-06-09
   days on market $145,000 Active 50 DOM
9. 2026-06-08
   days on market $145,000 Active 49 DOM
10. 2026-06-07
    days on market $145,000 Active 48 DOM
11. 2026-06-03
    days on market $145,000 Active 44 DOM
12. 2026-06-02
    days on market $145,000 Active 43 DOM
13. 2026-06-01
    days on market $145,000 Active 42 DOM
14. 2026-05-31
    days on market $145,000 Active 41 DOM
15. 2026-05-30
    days on market $145,000 Active 40 DOM
16. 2026-04-20
    listed $145,000 Active

ⓘ 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: $2,227 · $186/mo
• Projected year-2 tax: $2,227 · $186/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,628
• − Mortgage interest: −$8,122
• − Property taxes: −$2,227
• − Insurance: −$725
• − Repairs & maintenance: −$1,330
• − Management: −$1,330
• − Depreciation: −$4,218
• Taxable loss: −$1,325
• Est. tax savings @ 24.0%: +$318
• After-tax cash flow: $1,377/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

1 event — show timeline

• 2026-04-20 Listed $145,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+11.8%/yr

Latest (2025): $2,227 · +4.6% YoY. Source: county tax records.