635 White Flower Way · Spring Hill, FL 34604

$279,900

4 bd · 2.0 ba · 1,684 sqft · SingleFamily public records · 113 Days on market

Built 2006 5,820 sqft lot Est $312k · 10% under $97/mo HOA · 4% of rent

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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 +12.6/30.0
• ARV discount +12.1/15.0
• Schools +4.2/10.0
• DSCR +3.7/10.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful home located across from from Passive Pack-Will ready for move in by June!Nice view of park

Key facts

• Clubhouse
• Community pool
• Resort-style pool

Tags

• VIEW WITH NO REAR NEIGHBOR
• GENEROUS SIZE PATIO
• COMMUNITY POOL
• PLAYGROUND
• CLUBHOUSE
• RESORT-STYLE POOL

Property features AI

Finance

• Other: Property zoned RES; Lot approximately 0.13 acres (about 0 to less than 1/4 acre)
• Financial info: No lease restrictions indicated
• HOA & community: HOA managed by Wise Property Management; Monthly HOA fee of $97 (required); Association approval required; Pets allowed

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Sewer connected
• Home design: Single family residence; Residential property; One story; Faces northeast; Homestead exempt
• Construction: Concrete construction; Shingle roof; Block foundation; Built on one level
• Exterior features: Other exterior features

Interior

• Kitchen: Dishwasher
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cathedral ceilings; Ceiling fans; Crown molding
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $-37 ($-449/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (21.0% below list).
• Recommended offer: $221k (21.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.4% in Spring Hill — 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 63/100 on livability (#738 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Hernando (suburban): math 50% / reading 50% proficiency, ranked #38 of 73 in FL (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Moton Elementary School (math 46% / reading 39%, grade F, #1,383 of 2,144 statewide, top 65%, 679 students, 79% FRL); Nature Coast Technical High (math 52% / reading 51%, grade D+, #167 of 667 statewide, top 25%, 1,298 students, 38% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 196 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• This rent runs 31% of the median local income ($85k/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 $8k of value loss. Plan a longer hold.
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $188k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $221,216 (21.0% 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 113 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.79% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.57%
• DSCR: 0.97
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $311,540
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15566 Sword Lily Pl	0.35mi	4/2.0	1,604 (-5%)	1mo	$279,000	$174	75
783 Petal Mist Ln	0.47mi	3/2.0 (-1)	1,702 (+1%)	1mo	$274,000	$161	71
398 Sea Holly Dr	0.28mi	3/2.0 (-1)	1,814 (+8%)	2mo	$380,000	$209	68
15331 Stone House Dr	0.60mi	3/2.0 (-1)	1,700 (+1%)	3mo	$297,000	$175	63
15723 Stone House Dr	0.70mi	3/2.0 (-1)	1,701 (+1%)	0mo	$315,000	$185	60
758 Alpine Thistle Dr	0.31mi	3/2.0 (-1)	1,443 (-14%)	0mo	$275,000	$191	56
371 Voltaire Dr	0.43mi	3/2.0 (-1)	1,503 (-11%)	1mo	$259,990	$173	56
143 Voltaire Dr	0.46mi	3/2.0 (-1)	1,503 (-11%)	2mo	$275,000	$183	54
175 Voltaire Dr	0.48mi	3/2.0 (-1)	1,503 (-11%)	2mo	$250,000	$166	53
690 Old Windsor Way	0.63mi	3/2.0 (-1)	1,562 (-7%)	3mo	$315,000	$202	51
988 Scarlet Plume Ln	0.66mi	3/2.0 (-1)	1,443 (-14%)	3mo	$295,000	$204	37
15690 Stone House Dr	0.74mi	3/2.0 (-1)	1,443 (-14%)	3mo	$298,000	$207	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 · 1.61% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.35×
• Total profit: $-50,848
• Equity at exit: $41,734

10-year hold

• IRR: -14.0%
• Equity multiple: 0.24×
• Total profit: $-59,759
• Equity at exit: $24,201

Cash invested: $78,372 (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 34604

• Home prices YoY: -23.4%
• Rents YoY: 1.6%
• Active inventory: 196
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,212 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$104 /mo · $1,243/yr
• Insurance: −$117
• HOA: −$97
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $-37

Break-even live

Break-even rent $2,259

Max offer price $273,294

Occupancy floor 97%

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
495 Painted Leaf Dr Brooksville, FL	3.0	2.0	1814	$1,950	$1.07	24d	1	0.24mi
495 Painted Leaf Dr Brooksville, FL	3.0	2.0	1814	$1,950	$1.07	20d	1	0.24mi
14523 Wake Robin Dr Brooksville, FL	4.0	2.0	1604	$2,125	$1.32	23d	1	0.42mi
15592 Enclave WAY Masaryktown, FL	1.0–3.0	1.0–2.0	1041	$1,945	$1.87	1d	21	0.60mi
15405 Stone House Dr Brooksville, FL	3.0	2.0	1443	$2,095	$1.45	4d	1	0.68mi
15734 Stone House Dr Brooksville, FL	3.0	2.0	1462	$2,198	$1.50	3d	1	0.71mi
18816 Cimbora Dr Spring Hill, FL	3.0	3.5	2112	$2,800	$1.33	24d	1	0.86mi
75 Fairmont Dr Spring Hill, FL	3.0	2.0	2150	$2,160	$1.00	21d	1	0.99mi
446 Argyll Dr Spring Hill, FL	4.0	2.0	1809	$2,100	$1.16	24d	1	1.01mi
14043 Cooper Rd Spring Hill, FL	3.0	2.0	1586	$2,010	$1.27	20d	1	1.01mi
367 Argyll Dr Spring Hill, FL	3.0	2.0	1432	$1,900	$1.33	24d	1	1.05mi
177 Fairmont Dr Spring Hill, FL	3.0	2.0	2072	$1,979	$0.96	21d	1	1.05mi
675 Argyll Dr Spring Hill, FL	4.0	3.0	1881	$2,400	$1.28	2d	1	1.10mi
14017 Tudor St Spring Hill, FL	4.0	2.0	1726	$2,155	$1.25	3d	1	1.16mi
14059 Sullivan St Spring Hill, FL	3.0	2.0	1349	$1,795	$1.33	24d	1	1.21mi
14040 Allston Ave Spring Hill, FL	3.0	2.0	1523	$2,000	$1.31	24d	1	1.30mi
13409 Short Ct Spring Hill, FL	3.0	2.0	2114	$2,100	$0.99	24d	1	1.32mi
1549 Diane St Spring Hill, FL	3.0	2.0	1572	$2,320	$1.48	24d	1	1.43mi
1695 Rookery Rd Spring Hill, FL	3.0	2.0	1572	$2,350	$1.49	24d	1	1.44mi
1755 Rookery Rd Spring Hill, FL	3.0	2.0	1572	$2,320	$1.48	24d	1	1.49mi

HOA detail

• Monthly dues: $97 · $1,164/yr

Listing history 19 events

1. 2026-06-18
   days on market $279,900 Active 113 DOM
2. 2026-06-17
   days on market $279,900 Active 112 DOM
3. 2026-06-16
   days on market $279,900 Active 111 DOM
4. 2026-06-15
   days on market $279,900 Active 110 DOM
5. 2026-06-13
   days on market $279,900 Active 108 DOM
6. 2026-06-13
   days on market $279,900 Active 107 DOM
7. 2026-06-09
   days on market $279,900 Active 104 DOM
8. 2026-06-08
   days on market $279,900 Active 103 DOM
9. 2026-06-07
   days on market $279,900 Active 102 DOM
10. 2026-06-04
    days on market $279,900 Active 99 DOM
11. 2026-06-03
    days on market $279,900 Active 98 DOM
12. 2026-06-02
    days on market $279,900 Active 97 DOM
13. 2026-06-01
    days on market $279,900 Active 96 DOM
14. 2026-05-31
    days on market $279,900 Active 95 DOM
15. 2026-05-19
    price $279,900
16. 2026-04-11
    price $289,900
17. 2026-02-25
    listed $299,900 Active
18. 2006-10-14
    soldstatus $188,030 101-char remark

    Show marketing remark (101 chars)

    Beautiful home located across from from Passive Pack-Will ready for move in by June!Nice view of park

19. 2006-04-25
    listed $179,900 101-char remark

    Show marketing remark (101 chars)

    Beautiful home located across from from Passive Pack-Will ready for move in by June!Nice view of park

ⓘ 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: $1,243 · $104/mo
• Projected year-2 tax: $2,323 · $194/mo
• Expected delta: +$1,081/yr (+$90/mo · 87.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,546
• − Mortgage interest: −$15,679
• − Property taxes: −$1,243
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,124
• − Management: −$2,124
• − HOA: −$1,164
• − Depreciation: −$8,143
• Taxable loss: −$5,329
• Est. tax savings @ 24.0%: +$1,279
• After-tax cash flow: $830/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: Hernando
• NCES district ID: 1200810
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $41,985
• Composite: 42.03/100
• National rank: #3329
• State rank: #38 of 73 in FL

Livability — Spring Hill

• Score: 63/100
• State rank: #738
• US rank: #15937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Hill, FL
• County: Hernando County · 169,677 people
• City population: 83,915
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 13,642
• Household income: $84,833
• Rent vs Own: 8.5% rent · 91.5% own
• Severe rent burden: 142.0

Population outlook (Hernando County) Hauer SSP2

• Today (2025): 189,218 people
• By 2030: 194,367 · +2.7%
• By 2040: 203,398 · +7.5%
• By 2050: 209,589 · +10.8%
• By 2075: 218,452 · +15.4%
• By 2100: 205,923 · +8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 10% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 10% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Hernando

• 2024 margin: Solid R (+37.0) · D 31.1% · R 68.2%
• 2008→2024 swing: -33.5pp toward R · 2008: -3.6pp · 2024: -37.0pp
• All cycles: 2024: R+37.0 2020: R+30.2 2016: R+29.0 2012: R+8.5 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.38%
• Current HPI: 276.4751
• Rent YoY: ▲ 1.61%
• Metro: Tampa-St. Petersburg-Clearwater, 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

+55.6% since first listed

5 events — show timeline

• 2026-05-19 Price Changed $279,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-11 Price Changed $289,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-25 Listed $299,900 Stellar MLS as Distributed by MLS Grid
• 2006-10-14 Sold (MLS) $188,030 Stellar MLS as Distributed by MLS Grid
• 2006-04-25 Listed $179,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2025): $1,243 · +0.4% YoY. Source: county tax records.