9430 Nakoma Way #12 · North Weeki Wachee, FL 34613

$134,888

2 bd · 2.0 ba · 996 sqft · Condo · 53 Days on market

Built 1988 Good condition $401/mo HOA · 25% of rent

---

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
• 1% rule +6.9/10.0
• Schools +4.2/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. FULLY FURNISHED if so desired. Great opportunity for a Snowbird. Welcome to this beautifully maintained end-unit condominium located in the desirable Greens at the Heather. Offering both privacy and comfort, this unique residence features no neighbors above, creating a quiet and peaceful living environment. This spacious 2-bedroom, 2-bathroom condo boasts an inviting layout with thoughtful architectural details, including plant shelves that subtly define the kitchen and living areas, as well as two skylights that fill the living room with natural light. The rear porch has been fully enclosed with vinyl windows, providing a perfect year-round space to

Key facts

• Two skylights
• End-unit condominium
• No neighbors above

Tags

• END-UNIT CONDOMINIUM
• NO NEIGHBORS ABOVE
• TWO SKYLIGHTS
• FULLY ENCLOSED REAR PORCH
• VIEWS OVERLOOKING GOLF COURSE
• NEW ROOF

Property features AI

Finance

• Financial info: Total monthly fees reported at $401; total annual fees reported at $4,812; Lease restrictions apply
• HOA & community: Heather Property Owners Association (monthly HOA fee $24); Association amenities include clubhouse, pool, spa/hot tub, basketball court, shuffleboard court, maintenance, and street lights; Additional monthly maintenance fee of $353; Association fees required; Pets not allowed

Exterior

• Parking: Paved access
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Water connected; Sewer connected
• Home design: Residential condominium; One story; First floor unit; East-facing
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as part of Building 12
• Exterior features: Enclosed rear porch; Rain gutters; On golf course; Paved and private lot access; Private maintained road; Trees/landscaped

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Cathedral ceilings; Ceiling fans; Open floorplan; Living room/dining room combo; Split bedroom floorplan; Walk-in closets
• Laundry & utility: Washer hookup; Dryer hookup; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-70 ($-840/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (7.5% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $125k (7.5% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 3.9% in North Weeki Wachee — 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 68/100 on livability (#534 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, amenities F, commute 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: Winding Waters K-8 (math 50% / reading 48%, grade D, #1,134 of 2,144 statewide, top 54%, 1,622 students, 56% FRL); Weeki Wachee High School (math 41% / reading 42%, grade F, #284 of 667 statewide, top 43%, 1,435 students, 52% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 691 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• This rent runs 33% of the median local income ($59k/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 $933 of loan paydown is wiped out by about $4k 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 53 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,759 (7.5% 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 53 days. Have you received any prior offers? Is the seller open to a 8% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 5.67%
• Cash-on-cash: -2.22%
• DSCR: 0.90
• GRM: 7.0

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: -19.7%
• Equity multiple: 0.31×
• Total profit: $-26,046
• Equity at exit: $20,112

10-year hold

• IRR: -12.1%
• Equity multiple: 0.28×
• Total profit: $-27,322
• Equity at exit: $11,663

Cash invested: $37,769 (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 34613

• Home prices YoY: -17.2%
• Active inventory: 691
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,599 medium
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,023/yr
• Insurance: −$56
• HOA: −$401
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-70

Break-even live

Break-even rent $1,688

Max offer price $124,759

Occupancy floor 99%

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: $33,722
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7425 Galloway Rd Weeki Wachee, FL	2.0	2.0	936	$1,600	$1.71	12d	1	0.89mi

HOA detail condo

• Monthly dues: $401 · $4,812/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-08
   status $134,888 Pending 53 DOM
2. 2026-06-07
   days on market $134,888 Active 53 DOM
3. 2026-06-04
   days on market $134,888 Active 50 DOM
4. 2026-06-03
   days on market $134,888 Active 49 DOM
5. 2026-06-02
   days on market $134,888 Active 48 DOM
6. 2026-06-01
   days on market $134,888 Active 47 DOM
7. 2026-05-31
   days on market $134,888 Active 46 DOM
8. 2026-04-15
   listed $134,888 Active

ⓘ 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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,188
• − Mortgage interest: −$7,556
• − Property taxes: −$2,023
• − Insurance: −$674
• − Repairs & maintenance: −$1,535
• − Management: −$1,535
• − HOA: −$4,812
• − Depreciation: −$3,924
• Taxable loss: −$2,872
• Est. tax savings @ 24.0%: +$689
• After-tax cash flow: $-151/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This fully furnished end-unit condominium is in good condition with no major repairs needed. It offers a good investment opportunity with potential for both resale and rental value through cosmetic updates.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet — Fresh carpet improves comfort and value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet — Fresh carpet improves comfort and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — North Weeki Wachee

• Score: 68/100
• State rank: #534
• US rank: #10019

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Weeki Wachee, FL
• County: Hernando County · 169,677 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 19,337
• Household income: $58,596
• Rent vs Own: 9.2% rent · 90.8% own
• Severe rent burden: 307.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -57.51%
• Current HPI: 276.2229
• Rent YoY: —
• 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

1 event — show timeline

• 2026-04-15 Listed $134,888 Stellar MLS as Distributed by MLS Grid