2476 N Wright Pt · Pine Ridge, FL 34428

$199,999

4 bd · 2.0 ba · 2,040 sqft · Manufactured public records · 10 Days on market

Built 2007 0.40 ac lot Est $208k · at est.

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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 +26.6/30.0
• ARV discount +9.2/15.0
• DSCR +9.1/10.0
• 1% rule +7.1/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2476 N Wright Point — a move-in ready gem that checks all the boxes! This spacious 4-bedroom, 2-bath home offers 2,040 sq ft of comfortable living with stylish luxury vinyl flooring throughout. Major updates provide peace of mind, including a brand-new roof, AC system, and drainfield all completed in 2023. The thoughtfully designed layout features a large kitchen with ample space for cooking and gathering, while the oversized primary suite offers a private retreat complete with its own covered porch—perfect for morning coffee or evening relaxation. Outside, you’ll find plenty of storage with two large storage sheds, making organization easy for tools, hobb

Key facts

• Covered porch
• Brand new roof
• Ac system

Tags

• MOVE IN READY
• BRAND NEW ROOF
• AC SYSTEM
• LARGE KITCHEN
• OVERSIZED PRIMARY SUITE
• COVERED PORCH

Property features AI

Exterior

• Parking: Paved driveway
• Utilities: Private well water; Septic tank
• Home design: Manufactured home (double wide)
• Construction: Asphalt shingle roof
• Exterior features: Cleared, level, rectangular and partly wooded lot; Unimproved road frontage and road surface; No pool

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Washer and dryer included; Dishwasher; Electric cooktop and electric oven; Microwave; Refrigerator; Water heater; Tile flooring
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 9.5% 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-, 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: Crystal River Primary School (math 45% / reading 55%, grade D+, #1,070 of 2,144 statewide, top 51%, 654 students, 70% FRL); Crystal River Middle School (math 49% / reading 47%, grade C-, #286 of 571 statewide, top 50%, 900 students, 64% FRL); Crystal River High School (math 31% / reading 44%, grade F, #336 of 667 statewide, top 51%, 1,249 students, 56% FRL).
• Market conditions: 320 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• At $2,419/mo this rent would consume 57% of the median local household income ($51k/yr) (locally 264% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 3y 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.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,999

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.21% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.46%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $208,080
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2476 N Wright Pt	0.00mi	4/2.0	2,040 (0%)	0mo	$208,000	$102	100
2550 N Reynolds Ave	0.38mi	4/2.0	1,792 (-12%)	7mo	$149,000	$83	56

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,697
• Equity at exit: $29,821

10-year hold

• IRR: 10.4%
• Equity multiple: 1.81×
• Total profit: $45,486
• Equity at exit: $17,292

Cash invested: $56,000 (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 34428

• Home prices YoY: -15.3%
• Active inventory: 320
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,419 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$244 /mo · $2,925/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $535

Break-even live

Break-even rent $1,742

Max offer price $199,999

Occupancy floor 73%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6384 W Flanders Ln Crystal River, FL	3.0	2.0	1800	$2,250	$1.25	21d	1	1.41mi

Listing history 18 events

1. 2026-05-12
   status Pending
2. 2026-04-30
   listed $199,999 Active
3. 2025-11-07
   historical
4. 2025-10-20
   price $217,500
5. 2025-10-20
   price $217,500
6. 2025-10-09
   price $224,900
7. 2025-10-09
   price $224,900
8. 2025-10-06
   listed $229,900 Active
9. 2023-11-15
   soldstatus $190,000 Closed
10. 2023-11-06
    soldstatus $190,000
11. 2023-09-13
    historical
12. 2023-09-13
    historical
13. 2023-09-05
    status Active
14. 2023-08-22
    status Pending
15. 2023-08-16
    price $205,000
16. 2023-08-08
    listed $219,990 Active
17. 2023-08-03
    listed $205,000
18. 2020-03-23
    soldstatus $143,000

ⓘ 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: $2,925 · $244/mo
• Projected year-2 tax: $2,925 · $244/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 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: $29,026
• − Mortgage interest: −$11,203
• − Property taxes: −$2,925
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,322
• − Management: −$2,322
• − Depreciation: −$5,818
• Taxable income: $3,436
• Est. tax owed @ 24.0%: −$825
• After-tax cash flow: $5,595/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

• County: Citrus County · 111,314 people
• City population: 18,514
• Metro: Homosassa Springs, FL
• Population (ZIP): 10,163
• Household income: $50,779
• Rent vs Own: 22.8% rent · 77.2% own
• Severe rent burden: 264.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 5% · Canada, Jamaica, South Korea
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -57.32%
• Current HPI: 317.7637
• 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

+39.9% since first listed

18 events — show timeline

• 2026-05-12 Pending — RACC
• 2026-04-30 Listed $199,999 RACC
• 2025-11-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-20 Price Changed $217,500 RACC
• 2025-10-20 Price Changed $217,500 Stellar MLS as Distributed by MLS Grid
• 2025-10-09 Price Changed $224,900 RACC
• 2025-10-09 Price Changed $224,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-06 Listed $229,900 Stellar MLS as Distributed by MLS Grid
• 2023-11-15 Sold (MLS) $190,000 RACC
• 2023-11-06 Sold (Public Records) $190,000 Public Records
• 2023-09-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-09-13 Delisted — RACC
• 2023-09-05 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-08-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-08-16 Price Changed $205,000 Stellar MLS as Distributed by MLS Grid
• 2023-08-08 Listed $219,990 Stellar MLS as Distributed by MLS Grid
• 2023-08-03 Listed $205,000 RACC
• 2020-03-23 Sold (Public Records) $143,000 Public Records

Property tax history

+15.1%/yr

Latest (2025): $2,925 · +14.7% YoY. Source: county tax records.