10330 E Pike Dr · Inverness, FL 34450

$204,900

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 58 Days on market

Built 1981 8,057 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 +13.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Lake life really does start here. This 2 bedroom 2 bath waterfront home is completely move-in ready. Inside, you’ll find an open-concept layout that was fully redone in 2021–2022, with all the big-ticket items already handled: new roof, new A/C, updated plumbing and electrical, new flooring, and a beautifully redone island kitchen with updated appliances. Step out back to a brand-new screened porch and a nice dock ready for fishing or hopping out on the water. The large lot gives you room to spread out, and there’s a carport for easy covered parking. The primary bedroom has a walk-in closet and its own en suite bath, and there’s plenty of storage throughout. You&rsqu

Key facts

• Updated electrical
• Waterfront home
• New a/c

Tags

• WATERFRONT HOME
• OPEN-CONCEPT LAYOUT
• NEW ROOF
• NEW A/C
• UPDATED PLUMBING
• UPDATED ELECTRICAL

Property features AI

Finance

• Other: Located in the East Cove subdivision; Zoning: CLRMH

Exterior

• Parking: Attached carport; Driveway; Concrete parking; 1 parking space total
• Utilities: Private well water; Septic tank sewer
• Home design: Manufactured single-wide home; Residential property
• Construction: Aluminum siding construction; Metal roof
• Exterior features: Metal roof; Aluminum siding; Rectangular, waterfront lot with canal access and canal front; Public maintained city street frontage

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning (electric)
• Interior features: Electric oven and electric range; Refrigerator; Vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $205k.

Deal economics

• At list price, monthly cash flow is $19 ($234/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 $156k (23.9% below list).
• Recommended offer: $156k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.9% in Inverness — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Inverness Primary School (math 54% / reading 55%, grade C, #892 of 2,144 statewide, top 44%, 683 students, 65% FRL); Inverness Middle School (math 52% / reading 48%, grade C, #254 of 571 statewide, top 45%, 1,017 students, 60% FRL); Citrus High School (math 34% / reading 51%, grade F, #264 of 667 statewide, top 41%, 1,503 students, 54% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 208 active listings in the ZIP; 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 $6k 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 58 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $117k; list at $205k implies a 75% 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; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,833 (23.9% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.76% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.41%
• DSCR: 1.02
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $134,400
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10029 E Perch Ct	0.22mi	2/2.0	1,024 (+7%)	8mo	$155,900	$152	72
10342 & 10338 E Pike Dr	0.05mi	1/1.0 (-1)	880 (-8%)	8mo	$120,000	$136	69
9936 E Perch Ct	0.25mi	2/1.0	1,045 (+9%)	3mo	$146,000	$140	67
736 S Eden Gardens Ave	0.53mi	2/1.5	880 (-8%)	19mo	$75,000	$85	44

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: -15.7%
• Equity multiple: 0.44×
• Total profit: $-32,064
• Equity at exit: $30,551

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-26,738
• Equity at exit: $17,716

Cash invested: $57,372 (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 34450

• Home prices YoY: -18.7%
• Active inventory: 208
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,558 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$52 /mo · $621/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $19

Break-even live

Break-even rent $1,534

Max offer price $204,900

Occupancy floor 94%

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $204,900 Active 58 DOM
2. 2026-06-18
   days on market $204,900 Active 57 DOM
3. 2026-06-17
   days on market $204,900 Active 56 DOM
4. 2026-06-16
   days on market $204,900 Active 55 DOM
5. 2026-06-15
   days on market $204,900 Active 54 DOM
6. 2026-06-14
   days on market $204,900 Active 52 DOM
7. 2026-06-13
   days on market $204,900 Active 51 DOM
8. 2026-06-09
   days on market $204,900 Active 48 DOM
9. 2026-06-08
   days on market $204,900 Active 47 DOM
10. 2026-06-07
    days on market $204,900 Active 46 DOM
11. 2026-06-03
    days on market $204,900 Active 42 DOM
12. 2026-06-02
    days on market $204,900 Active 41 DOM
13. 2026-06-01
    days on market $204,900 Active 40 DOM
14. 2026-05-31
    days on market $204,900 Active 39 DOM
15. 2026-05-30
    days on market $204,900 Active 38 DOM
16. 2026-04-17
    listed $204,900 Active
17. 2025-10-07
    price $205,000
18. 2025-04-30
    price $215,000
19. 2021-05-14
    soldstatus $117,000
20. 1995-06-23
    soldstatus $40,000
21. 1990-04-01
    soldstatus $56,000
22. 1987-06-01
    soldstatus $45,500
23. 1980-05-01
    soldstatus $10,500

ⓘ 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: $621 · $52/mo
• Projected year-2 tax: $1,701 · $142/mo
• Expected delta: +$1,080/yr (+$90/mo · 174.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,700
• − Mortgage interest: −$11,478
• − Property taxes: −$621
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,496
• − Management: −$1,496
• − Depreciation: −$5,961
• Taxable loss: −$3,375
• Est. tax savings @ 24.0%: +$810
• After-tax cash flow: $1,044/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

• City population: 10,621
• Population (ZIP): 10,408

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 (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 8% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 3% Tagalog/Filipino 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: ▼ -72.56%
• Current HPI: 315.9725
• Rent YoY: —
• Metro: —
• 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

+1851.4% since first listed

8 events — show timeline

• 2026-04-17 Listed $204,900 RACC
• 2025-10-07 Price Changed $205,000 RACC
• 2025-04-30 Price Changed $215,000 RACC
• 2021-05-14 Sold (Public Records) $117,000 Public Records
• 1995-06-23 Sold (Public Records) $40,000 Public Records
• 1990-04-01 Sold (Public Records) $56,000 Public Records
• 1987-06-01 Sold (Public Records) $45,500 Public Records
• 1980-05-01 Sold (Public Records) $10,500 Public Records

Property tax history

+13.0%/yr

Latest (2025): $621 · +9.8% YoY. Source: county tax records.