8528 Heather Blvd · North Weeki Wachee, FL 34613

$183,000

2 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 13 Days on market

Built 1978 0.25 ac lot Est $268k · 32% under $24/mo HOA · 1% of rent

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Why this score? — see what drove the C 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 +19.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming 2 bedroom, 2 bath home offers the perfect opportunity for first-time homebuyers or anyone looking to downsize. Featuring approximately 1,080 square feet of living space on a spacious corner lot, the home provides a comfortable layout with plenty of potential to make it your own. While the property could use a little TLC, it offers great bones and endless possibilities for personalization. You'll find cedar lined bedroom closets, adding both character and practical storage benefits. Enjoy relaxing mornings and evenings in the generously sized screened lanai to simply enjoy Florida's beautiful weather. The corner lot provides plenty of outdoor space for gardening, pets, or recre

Key facts

• Screened lanai
• Outdoor space
• Corner lot

Tags

• CEDAR LINED BEDROOM CLOSETS
• SCREENED LANAI
• CORNER LOT
• OUTDOOR SPACE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Property type: Residential - Single Family Residence; Zoning: RESI; Total acreage between 1/4 and less than 1/2 acre
• Financial info: No lease restrictions indicated
• HOA & community: The Heather Property Owners Association; Monthly HOA fee of $24 (required); Pets allowed

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Electricity available and connected; Water available and connected; Sewer available and connected; Cable available
• Home design: Single family residence; One story; Faces southeast; Homestead property
• Construction: Frame construction; Shingle roof; Slab foundation; Built area and lot details recorded
• Exterior features: Covered, enclosed, screened patio; Exterior lighting; Corner lot; Paved road access

Interior

• Kitchen: Range; Range hood; 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: Ceiling fans
• Laundry & utility: Washer; Dryer; Laundry area located in the garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $183k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/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 $171k (6.6% below list).
• Recommended offer: $171k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• This rent runs 35% 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 $1k of loan paydown is wiped out by about $5k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; list at $183k implies a 249% 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; major wildfire risk; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,928 (6.6% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.93% ✗
• Cap rate: 7.74%
• Cash-on-cash: 5.16%
• DSCR: 1.23
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $267,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8639 Heather Blvd	0.15mi	2/2.0	1,142 (+6%)	8mo	$215,000	$188	76
7435 Abington Way	0.36mi	2/1.0	1,035 (-4%)	1mo	$210,000	$203	71
9013 Nakoma Way	0.40mi	3/2.0 (+1)	1,114 (+3%)	2mo	$277,500	$249	69
8978 Waterbird Way	0.29mi	3/2.0 (+1)	1,008 (-7%)	3mo	$255,000	$253	68
9002 Nakoma Way	0.36mi	3/2.0 (+1)	1,008 (-7%)	1mo	$265,000	$263	66
8957 Senior Way	0.43mi	3/2.0 (+1)	1,008 (-7%)	4mo	$259,000	$257	60
8991 Lismore Ct	0.29mi	3/2.0 (+1)	1,211 (+12%)	1mo	$197,000	$163	60
8050 Roxburgh Ct	0.38mi	3/2.0 (+1)	1,185 (+10%)	5mo	$200,000	$169	57
8960 Long Lake Ave	0.71mi	3/2.0 (+1)	1,008 (-7%)	0mo	$259,000	$257	51
7291 Loch Ness Ct	0.56mi	2/2.0	1,211 (+12%)	6mo	$125,000	$103	48
8980 Long Lake Ave	0.71mi	3/2.0 (+1)	1,008 (-7%)	4mo	$250,000	$248	47
7486 Heather Walk Dr	0.64mi	2/2.0	1,211 (+12%)	6mo	$135,000	$111	45

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: -8.3%
• Equity multiple: 0.69×
• Total profit: $-15,681
• Equity at exit: $27,286

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $4,180
• Equity at exit: $15,822

Cash invested: $51,240 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,709 high
• Mortgage (P&I): −$960
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$76
• HOA: −$24
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $220

Break-even live

Break-even rent $1,430

Max offer price $183,000

Occupancy floor 82%

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: $45,750
• Closing costs: $5,490
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	0.06mi
8992 Hernando Way Weeki Wachee, FL	2.0	2.0	1490	$1,695	$1.14	5d	1	0.24mi
7251 Mc Ginnes Ct Weeki Wachee, FL	2.0	2.0	1360	$1,695	$1.25	5d	1	0.28mi
7744 St Andrews Blvd Weeki Wachee, FL	2.0	2.0	1142	$1,450	$1.27	24d	1	0.39mi
7569 Heather Walk Dr Weeki Wachee, FL	2.0	2.0	1211	$1,595	$1.32	17d	1	0.53mi

HOA detail

• Monthly dues: $24 · $288/yr

Listing history 10 events

1. 2026-06-18
   days on market $183,000 Active 13 DOM
2. 2026-06-17
   days on market $183,000 Active 12 DOM
3. 2026-06-16
   days on market $183,000 Active 11 DOM
4. 2026-06-15
   days on market $183,000 Active 10 DOM
5. 2026-06-13
   days on market $183,000 Active 8 DOM
6. 2026-06-13
   days on market $183,000 Active 7 DOM
7. 2026-06-09
   days on market $183,000 Active 4 DOM
8. 2026-06-08
   days on market $183,000 Active 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $183,000 Active 2 DOM

ⓘ 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: $841 · $70/mo
• Projected year-2 tax: $1,519 · $127/mo
• Expected delta: +$677/yr (+$56/mo · 80.5%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥110°F today · 28 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: $20,511
• − Mortgage interest: −$10,251
• − Property taxes: −$841
• − Insurance: −$915
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − HOA: −$288
• − Depreciation: −$5,324
• Taxable loss: −$389
• Est. tax savings @ 24.0%: +$93
• After-tax cash flow: $2,737/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 — 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
• City population: 18,280
• 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

+248.6% since first listed

2 events — show timeline

• 2026-06-05 Listed $183,000 Stellar MLS as Distributed by MLS Grid
• 1994-10-26 Sold (Public Records) $52,500 Public Records

Property tax history

+2.5%/yr

Latest (2025): $841 · -0.4% YoY. Source: county tax records.