3199 S Kings Ave · Homosassa Springs, FL 34448

$235,000

3 bd · 2.0 ba · 1,490 sqft · Land · 78 Days on market

Built 2026 6,250 sqft lot

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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).

• Cash flow +12.1/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• DSCR +3.6/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Pre-Construction. To be built. Pre-Construction Custom Home Opportunity! Build Your Dream Home on 3199 S KINGS RD, HOMOSASSA FL This is your chance to own a brand-new custom-built home in a peaceful setting — designed and built exactly the way you want it! The base home starts at just $235,000 and includes a spacious 3-bedroom, 2-bath open-concept floor plan with these desirable features: • Large kitchen island with plenty of cabinet space • Stainless steel appliances (side-by-side refrigerator, dishwasher, microwave, garbage disposal, and stylish range) • Generous primary suite with walk-in closet • Energy-efficient double-pane windows Well and septic are included

Key facts

• 6,250 sq ft lot
• Built 2026
• Listed 77 days

Property features AI

Finance

• Other: Lot size approximately 0.14 acre (0 to less than 1/4 acre)
• Financial info: Unfurnished; Home warranty included; No lease restrictions
• HOA & community: No HOA reported

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Well water available; Septic tank sewer; Electricity available; Cable available; Phone available; Water available
• Home design: Single Family Residence; Residential property; One story; New construction (projected completion 2026-09-30); North-facing
• Construction: Vinyl siding; Shingle roof; Built on slab
• Exterior features: Outdoor lighting; Private mailbox; Dirt road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Slab foundation
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Open floorplan; Split bedroom layout; Thermostat
• Laundry & utility: Inside laundry room; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $235k.

Deal economics

• At list price, monthly cash flow is $-480 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (29.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (15.4% below list).
• Recommended offer: $166k (29.6% below list) — sets the bar for cash-flow.

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; 1 comparable units currently listed for rent nearby; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• At $1,988/mo this rent would consume 52% 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 $2k of loan paydown is wiped out by about $7k 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 78 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.

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; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,531 (29.6% 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 78 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.98%
• DSCR: 0.96
• GRM: 9.9

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: -31.6%
• Equity multiple: -0.04×
• Total profit: $-68,365
• Equity at exit: $35,039

10-year hold

• IRR: -34.6%
• Equity multiple: -0.49×
• Total profit: $-97,717
• Equity at exit: $20,319

Cash invested: $65,800 (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: 9.9×

Monthly cashflow live

• Estimated rent: $1,988 medium
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $-480

Break-even live

Break-even rent $2,596

Max offer price $165,531

Occupancy floor —

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: $58,750
• Closing costs: $7,050
• 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	1.10mi

Listing history 17 events

1. 2026-06-19
   days on market $235,000 Active 78 DOM
2. 2026-06-18
   days on market $235,000 Active 77 DOM
3. 2026-06-17
   days on market $235,000 Active 76 DOM
4. 2026-06-16
   days on market $235,000 Active 75 DOM
5. 2026-06-15
   days on market $235,000 Active 74 DOM
6. 2026-06-14
   days on market $235,000 Active 72 DOM
7. 2026-06-13
   days on market $235,000 Active 71 DOM
8. 2026-06-09
   days on market $235,000 Active 68 DOM
9. 2026-06-08
   days on market $235,000 Active 67 DOM
10. 2026-06-07
    days on market $235,000 Active 66 DOM
11. 2026-06-03
    days on market $235,000 Active 62 DOM
12. 2026-06-02
    days on market $235,000 Active 61 DOM
13. 2026-06-01
    days on market $235,000 Active 60 DOM
14. 2026-05-31
    days on market $235,000 Active 59 DOM
15. 2026-05-30
    days on market $235,000 Active 58 DOM
16. 2026-04-02
    listed $235,000 Active
17. 2023-08-25
    soldstatus $218,000

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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: $23,856
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$6,294
• − Repairs & maintenance: −$1,908
• − Management: −$1,908
• − Depreciation: −$6,836
• Taxable loss: −$9,780
• Est. tax savings @ 24.0%: +$2,347
• After-tax cash flow: $-3,414/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
• 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

+7.8% since first listed

2 events — show timeline

• 2026-04-02 Listed $235,000 Stellar MLS as Distributed by MLS Grid
• 2023-08-25 Sold (Public Records) $218,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $132 · +41.5% YoY. Source: county tax records.