6373 N Earlshire Ter · Pine Ridge, FL 34434

$238,900

3 bd · 2.0 ba · 1,405 sqft · Land · 29 Days on market

Built 2026 10,025 sqft lot

---

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 +10.5/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0

Listing remarks MLS

NEW CONSTRUCTION. MOVE-IN READY! Beautiful Key West Model in Citrus Springs offering 3 bedrooms, 2 bathrooms, and 1,405 square feet of comfortable living space. This home features concrete block construction, a 30-year architectural shingle roof, energy-efficient double-pane windows, and a 10-year structural warranty for added peace of mind. Inside, enjoy vaulted ceilings in the main living area, luxury vinyl plank flooring throughout the home, stainless steel appliances, custom white shaker cabinets with soft-close drawers, granite countertops in the kitchen and bathrooms, and a convenient kitchen pantry. The home also includes washer and dryer hookups, a covered patio, and an attached 2-car garage with opener and remotes. Located in a high and dry flood zone X with no flood insurance required, plus no HOA fees for true ownership freedom.

Key facts

• Vaulted ceilings
• 0.23 acre lot
• 2 garage spots

Tags

• CONCRETE BLOCK CONSTRUCTION
• 10-YEAR STRUCTURAL WARRANTY
• VAULTED CEILINGS
• LUXURY VINYL PLANK FLOORING
• STAINLESS STEEL APPLIANCES
• CUSTOM WHITE SHAKER CABINETS

Property features AI

Finance

• Other: Lot roughly 0.23 acres (about 80 x 125); Lot area under 1/4 acre; Road surfaces asphalt/paved; Zoned PDR
• HOA & community: Deed restrictions

Exterior

• Parking: Attached 2-car garage with garage door opener; Driveway; Garage dimensions approximately 20 x 21
• Utilities: Public water; Septic tank sewer; Electricity connected; Water connected
• Home design: Single-family residence; One story; Completed/new construction; Faces west
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built by CHRIS UNDERWOOD CONSTRUCTION (Model: Key West)
• Exterior features: Covered patio; Patio; Sliding doors; Paved public-maintained road access; In-county location

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Open floorplan; Split bedroom layout; Stone counters; Vaulted ceilings; Walk-in closets
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $239k.

Deal economics

• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (18.9% below list).
• Recommended offer: $194k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.4% in Pine Ridge — 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 (#565 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: health & safety 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: 1242 active listings in the ZIP; 8 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).
• This rent runs 34% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 29 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago 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.
• Current owner paid $22k; list at $239k implies a 986% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,645 (18.9% 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. 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. 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?
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: 0.81% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.17%
• DSCR: 0.90
• GRM: 10.3

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: -19.9%
• Equity multiple: 0.31×
• Total profit: $-46,401
• Equity at exit: $35,621

10-year hold

• IRR: -12.8%
• Equity multiple: 0.25×
• Total profit: $-50,226
• Equity at exit: $20,656

Cash invested: $66,892 (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 34434

• Home prices YoY: -2.9%
• Active inventory: 1242
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,936 high
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,584/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $-121

Break-even live

Break-even rent $2,090

Max offer price $221,364

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: $59,725
• Closing costs: $7,167
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
669 W Homeway Loop Citrus Springs, FL	4.0	2.0	1580	$1,895	$1.20	21d	1	0.08mi
6251 W Whispering Dr Citrus Springs, FL	4.0	2.0	1617	$1,815	$1.12	21d	1	0.50mi
788 W Glenhaven Dr Citrus Springs, FL	4.0	2.0	1621	$1,800	$1.11	21d	1	0.58mi
1482 W Manchester Dr Dunnellon, FL	3.0	2.0	1540	$1,695	$1.10	21d	1	0.58mi
2117 W Swanson Dr Citrus Springs, FL	4.0	2.0	1580	$1,850	$1.17	21d	1	1.20mi
7175 N Varsity Ave Citrus Springs, FL	3.0	2.0	1428	$1,795	$1.26	21d	1	1.37mi
661 W Twisted Oaks Dr Beverly Hills, FL	4.0	2.0	1864	$1,695	$0.91	21d	1	1.47mi
7708 N Paris Dr Dunnellon, FL	3.0	2.0	1415	$1,800	$1.27	21d	1	1.47mi

Listing history 26 events

1. 2026-06-19
   days on market $238,900 Active 29 DOM
2. 2026-06-18
   days on market $238,900 Active 28 DOM
3. 2026-06-17
   price $238,900 Active 27 DOM
4. 2026-06-17
   days on market $239,900 Active 27 DOM
5. 2026-06-16
   days on market $239,900 Active 26 DOM
6. 2026-06-15
   days on market $239,900 Active 25 DOM
7. 2026-06-14
   days on market $239,900 Active 23 DOM
8. 2026-06-13
   days on market $239,900 Active 22 DOM
9. 2026-06-09
   days on market $239,900 Active 19 DOM
10. 2026-06-09
    price $239,900 Active 18 DOM
11. 2026-06-08
    days on market $242,500 Active 18 DOM
12. 2026-06-07
    days on market $242,500 Active 17 DOM
13. 2026-06-03
    days on market $242,500 Active 13 DOM
14. 2026-06-03
    price $242,500 Active 12 DOM
15. 2026-06-02
    days on market $244,900 Active 12 DOM
16. 2026-06-01
    days on market $244,900 Active 11 DOM
17. 2026-05-31
    days on market $244,900 Active 10 DOM
18. 2026-05-30
    days on market $244,900 Active 9 DOM
19. 2026-05-21
    listed $244,900 Active 851-char remark

    Show marketing remark (851 chars)

    NEW CONSTRUCTION. MOVE-IN READY! Beautiful Key West Model in Citrus Springs offering 3 bedrooms, 2 bathrooms, and 1,405 square feet of comfortable living space. This home features concrete block construction, a 30-year architectural shingle roof, energy-efficient double-pane windows, and a 10-year structural warranty for added peace of mind. Inside, enjoy vaulted ceilings in the main living area, luxury vinyl plank flooring throughout the home, stainless steel appliances, custom white shaker cabinets with soft-close drawers, granite countertops in the kitchen and bathrooms, and a convenient kitchen pantry. The home also includes washer and dryer hookups, a covered patio, and an attached 2-car garage with opener and remotes. Located in a high and dry flood zone X with no flood insurance required, plus no HOA fees for true ownership freedom.

20. 2026-05-21
    listed $244,900 Active

    Show marketing remark (851 chars)

    NEW CONSTRUCTION. MOVE-IN READY! Beautiful Key West Model in Citrus Springs offering 3 bedrooms, 2 bathrooms, and 1,405 square feet of comfortable living space. This home features concrete block construction, a 30-year architectural shingle roof, energy-efficient double-pane windows, and a 10-year structural warranty for added peace of mind. Inside, enjoy vaulted ceilings in the main living area, luxury vinyl plank flooring throughout the home, stainless steel appliances, custom white shaker cabinets with soft-close drawers, granite countertops in the kitchen and bathrooms, and a convenient kitchen pantry. The home also includes washer and dryer hookups, a covered patio, and an attached 2-car garage with opener and remotes. Located in a high and dry flood zone X with no flood insurance required, plus no HOA fees for true ownership freedom.

21. 2025-10-10
    soldstatus $22,000 Closed 1317-char remark

    Show marketing remark (1317 chars)

    Don’t miss out on the opportunity to build your Dream home on this 0.23 acre lot (80 X 125) in Citrus Springs! With a residential zoning for single family homes, this parcel is a canvas awaiting your vision. This property offers endless potential. Access to city water, septic system needed, power lines are available at the street!! Located on a paved road!! This lot offers an impressive presence and excellent drainage. NOT in a flood zone, No HOA fees, but a deeded neighborhood featuring well-maintained and affordably priced homes. The community provides access to the renowned Withlacoochee State Trail, great for biking, hiking, and scenic walks. Citrus Springs has a Golf Course, Library, Community clubhouse for events, illuminated tennis courts, and a children's park. Only minutes from shopping & restaurants, Healthcare facilities. Just minutes from boating, fishing, diving, and pristine freshwater springs, and quick access to the Gulf of America beaches. The Suncoast Parkway is a quick access to the Tampa area and airports. Along with an outstanding school system, and with Citrus Springs continuing to expand, this is a great opportunity to invest in a thriving community and build your future home. Seller also has 3 additional lots available for purchase MLS# 47309, 847307, 847306.

22. 2025-09-17
    status Pending 1317-char remark

    Show marketing remark (1317 chars)

    Don’t miss out on the opportunity to build your Dream home on this 0.23 acre lot (80 X 125) in Citrus Springs! With a residential zoning for single family homes, this parcel is a canvas awaiting your vision. This property offers endless potential. Access to city water, septic system needed, power lines are available at the street!! Located on a paved road!! This lot offers an impressive presence and excellent drainage. NOT in a flood zone, No HOA fees, but a deeded neighborhood featuring well-maintained and affordably priced homes. The community provides access to the renowned Withlacoochee State Trail, great for biking, hiking, and scenic walks. Citrus Springs has a Golf Course, Library, Community clubhouse for events, illuminated tennis courts, and a children's park. Only minutes from shopping & restaurants, Healthcare facilities. Just minutes from boating, fishing, diving, and pristine freshwater springs, and quick access to the Gulf of America beaches. The Suncoast Parkway is a quick access to the Tampa area and airports. Along with an outstanding school system, and with Citrus Springs continuing to expand, this is a great opportunity to invest in a thriving community and build your future home. Seller also has 3 additional lots available for purchase MLS# 47309, 847307, 847306.

23. 2025-08-16
    listed $23,100 Active 1317-char remark

    Show marketing remark (1317 chars)

    Don’t miss out on the opportunity to build your Dream home on this 0.23 acre lot (80 X 125) in Citrus Springs! With a residential zoning for single family homes, this parcel is a canvas awaiting your vision. This property offers endless potential. Access to city water, septic system needed, power lines are available at the street!! Located on a paved road!! This lot offers an impressive presence and excellent drainage. NOT in a flood zone, No HOA fees, but a deeded neighborhood featuring well-maintained and affordably priced homes. The community provides access to the renowned Withlacoochee State Trail, great for biking, hiking, and scenic walks. Citrus Springs has a Golf Course, Library, Community clubhouse for events, illuminated tennis courts, and a children's park. Only minutes from shopping & restaurants, Healthcare facilities. Just minutes from boating, fishing, diving, and pristine freshwater springs, and quick access to the Gulf of America beaches. The Suncoast Parkway is a quick access to the Tampa area and airports. Along with an outstanding school system, and with Citrus Springs continuing to expand, this is a great opportunity to invest in a thriving community and build your future home. Seller also has 3 additional lots available for purchase MLS# 47309, 847307, 847306.

24. 2005-09-01
    soldstatus $32,000
25. 2005-08-31
    soldstatus $32,000
26. 2005-06-30
    listed $34,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,237
• − Mortgage interest: −$13,382
• − Property taxes: −$3,584
• − Insurance: −$1,194
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − Depreciation: −$6,950
• Taxable loss: −$5,591
• Est. tax savings @ 24.0%: +$1,342
• After-tax cash flow: $-113/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 — Pine Ridge

• Score: 67/100
• State rank: #565
• US rank: #10798

Category grades

Amenities F Commute F Cost of living A- Crime A+ Employment B- Housing A+ Health & safety C- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pine Ridge, FL
• County: Citrus County · 111,314 people
• City population: 18,514
• Metro: Homosassa Springs, FL
• Population (ZIP): 11,074
• Household income: $68,939
• Rent vs Own: 12.4% rent · 87.6% own
• Severe rent burden: 171.0

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 (78%)
• Race & ethnicity: White 78% Two or more races 11% Hispanic / Latino 9% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Iranian 3% Romanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1% Other Indo-European 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: ▼ -9.70%
• Current HPI: 328.2164
• 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

+620.3% since first listed

8 events — show timeline

• 2026-05-21 Listed $244,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-21 Listed $244,900 RACC
• 2025-10-10 Sold (MLS) $22,000 RACC
• 2025-09-17 Pending — RACC
• 2025-08-16 Listed $23,100 RACC
• 2005-09-01 Sold (Public Records) $32,000 Public Records
• 2005-08-31 Sold (MLS) $32,000 RACC
• 2005-06-30 Listed $34,000 RACC

Property tax history

+12.8%/yr

Latest (2025): $192 · +37.5% YoY. Source: county tax records.