9319 N Cortlandt Dr · Citrus Springs, FL 34434

$289,000

4 bd · 2.0 ba · 1,787 sqft · Land · 58 Days on market

Built 2026 10,000 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.3/10.0
• Appreciation +0.1/10.0

Listing remarks MLS

Live minutes from Rainbow Springs State Park, enjoy nearby golf and tennis courts, and come home to the comfort of brand-new construction. Welcome to this beautifully completed new construction home featuring 4 bedrooms, 2 bathrooms, a spacious 2-car garage, and 1,787 square feet of thoughtfully designed living space in a quiet and growing community of Citrus Springs. Step inside to discover an open and inviting floor plan with elegant finishes, beautiful countertops, and a bright modern kitchen designed for both everyday living and entertaining. The spacious primary suite offers comfort and privacy, complete with a large walk-in closet and a well-designed bathroom layout. Enjoy the convenience of an in-unit laundry area, generous bedroom sizes, and a unique backyard great for relaxing, entertaining, or creating your own outdoor retreat. Located just 15 minutes from Rainbow Springs State Park and only 3 minutes from the Citrus Springs tennis courts, and 5 m from golf and country club this home offers the perfect blend of nature, recreation, and convenience. A nearby comparable home recently sold for $310,000, making this an excellent opportunity to get value before prices continue to rise. Don’t wait—homes like this in growing communities move quickly. Schedule your showing today!

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 2026

Property features AI

Finance

• Other: Property type: Residential single family; Zoning: PDR; Lot roughly 0.23 acres; Number of rooms: 6; Living area about 1,787 sq ft (per public records); Building area about 2,215 sq ft (per public records)

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Septic tank sewer; Electricity available and connected; Private utilities; Water connected
• Home design: Single family residence; One story; North-facing; Completed/new construction
• Construction: Block and concrete construction; Shingle roof; Slab foundation; Built as new construction
• Exterior features: Sliding doors; Asphalt/paved road access

Interior

• Kitchen: Disposal; Microwave; Range; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Epoxy; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Eat-in kitchen; Kitchen/family room combo; Open floorplan; Solid surface counters; Walk-in closets
• Laundry & utility: Inside laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $289k.

Deal economics

• At list price, monthly cash flow is $-416 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (30.7% below list).
• Recommended offer: $200k (30.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#521 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety C-, employment D+.
• 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.
• Market conditions: 1242 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($69k/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 $9k 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 ($280k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $108k; list at $289k implies a 167% 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; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,162 (30.7% 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 58 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.69% ✗
• Cap rate: 4.57%
• Cash-on-cash: -6.17%
• DSCR: 0.73
• GRM: 12.0

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: -26.9%
• Equity multiple: 0.09×
• Total profit: $-73,291
• Equity at exit: $43,091

10-year hold

• IRR: -24.5%
• Equity multiple: -0.21×
• Total profit: $-97,810
• Equity at exit: $24,987

Cash invested: $80,920 (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 34434

• Home prices YoY: -2.9%
• Active inventory: 1242
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,002 high
• Mortgage (P&I): −$1,516
• Tax est. 1.5%: −$361 /mo · $4,335/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-416

Break-even live

Break-even rent $2,528

Max offer price $228,814

Occupancy floor —

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9298 N Mendoza Way Citrus Springs, FL	3.0	2.0	1350	$1,800	$1.33	21d	1	0.21mi
754 W Deacon Pl Citrus Springs, FL	3.0	2.0	1453	$1,800	$1.24	21d	1	0.32mi
9475 N Camel Dr Dunnellon, FL	3.0	2.0	1670	$1,800	$1.08	21d	1	0.39mi
9676 N Jourden Dr Citrus Springs, FL	3.0	2.0	1353	$1,750	$1.29	21d	1	0.39mi
9066 N Akola Way Citrus Springs, FL	3.0	2.0	1833	$2,150	$1.17	21d	1	0.50mi
9065 N Akola Way Citrus Springs, FL	3.0	2.0	1511	$1,795	$1.19	21d	1	0.52mi
9995 N Sandree Dr Citrus Springs, FL	3.0	2.0	1453	$1,895	$1.30	21d	1	0.54mi
904 W Rum Pl Dunnellon, FL	3.0	2.0	1453	$1,699	$1.17	21d	1	0.55mi
572 W Bluster Pl Dunnellon, FL	4.0	2.0	1630	$1,900	$1.17	21d	1	0.65mi
9779 N Langdon Rd Citrus Springs, FL	4.0	3.0	2274	$2,200	$0.97	21d	1	0.85mi
8450 N Travis Dr Citrus Springs, FL	4.0	2.0	1787	$1,900	$1.06	21d	1	0.92mi
696 W Hallam Dr Citrus Springs, FL	4.0	2.0	1797	$1,900	$1.06	21d	1	0.94mi
8398 N Jay Dr Dunnellon, FL	3.0	2.0	1541	$1,700	$1.10	21d	1	0.95mi
316 W Wason St Citrus Springs, FL	3.0	2.0	1985	$2,200	$1.11	21d	1	1.07mi
9924 N Country Club Way Citrus Springs, FL	3.0	2.0	1473	$1,795	$1.22	21d	1	1.08mi
8190 N Wakefield Dr Dunnellon, FL	4.0	2.0	1772	$1,750	$0.99	21d	1	1.13mi
8180 N Wakefield Dr Dunnellon, FL	3.0	2.0	1502	$1,695	$1.13	21d	1	1.14mi
8267 N Santos Dr Citrus Springs, FL	3.0	2.0	1453	$1,800	$1.24	21d	1	1.19mi
8030 N Galena Ave Citrus Springs, FL	4.0	2.0	1833	$2,150	$1.17	21d	1	1.31mi
7908 N Galena Ave Citrus Springs, FL	4.0	2.5	1551	$1,850	$1.19	21d	1	1.43mi

Listing history 26 events

1. 2026-06-19
   days on market $289,000 Active 58 DOM
2. 2026-06-18
   days on market $289,000 Active 57 DOM
3. 2026-06-17
   days on market $289,000 Active 56 DOM
4. 2026-06-16
   days on market $289,000 Active 55 DOM
5. 2026-06-15
   days on market $289,000 Active 54 DOM
6. 2026-06-14
   days on market $289,000 Active 52 DOM
7. 2026-06-13
   days on market $289,000 Active 51 DOM
8. 2026-06-09
   days on market $289,000 Active 48 DOM
9. 2026-06-08
   days on market $289,000 Active 47 DOM
10. 2026-06-07
    days on market $289,000 Active 46 DOM
11. 2026-06-03
    days on market $289,000 Active 42 DOM
12. 2026-06-02
    days on market $289,000 Active 41 DOM
13. 2026-06-01
    days on market $289,000 Active 40 DOM
14. 2026-05-31
    days on market $289,000 Active 39 DOM
15. 2026-05-30
    days on market $289,000 Active 38 DOM
16. 2026-05-22
    price $289,000 1313-char remark

    Show marketing remark (1313 chars)

    Live minutes from Rainbow Springs State Park, enjoy nearby golf and tennis courts, and come home to the comfort of brand-new construction. Welcome to this beautifully completed new construction home featuring 4 bedrooms, 2 bathrooms, a spacious 2-car garage, and 1,787 square feet of thoughtfully designed living space in a quiet and growing community of Citrus Springs. Step inside to discover an open and inviting floor plan with elegant finishes, beautiful countertops, and a bright modern kitchen designed for both everyday living and entertaining. The spacious primary suite offers comfort and privacy, complete with a large walk-in closet and a well-designed bathroom layout. Enjoy the convenience of an in-unit laundry area, generous bedroom sizes, and a unique backyard great for relaxing, entertaining, or creating your own outdoor retreat. Located just 15 minutes from Rainbow Springs State Park and only 3 minutes from the Citrus Springs tennis courts, and 5 m from golf and country club this home offers the perfect blend of nature, recreation, and convenience. A nearby comparable home recently sold for $310,000, making this an excellent opportunity to get value before prices continue to rise. Don’t wait—homes like this in growing communities move quickly. Schedule your showing today!

17. 2026-05-22
    price $289,000

    Show marketing remark (1313 chars)

    Live minutes from Rainbow Springs State Park, enjoy nearby golf and tennis courts, and come home to the comfort of brand-new construction. Welcome to this beautifully completed new construction home featuring 4 bedrooms, 2 bathrooms, a spacious 2-car garage, and 1,787 square feet of thoughtfully designed living space in a quiet and growing community of Citrus Springs. Step inside to discover an open and inviting floor plan with elegant finishes, beautiful countertops, and a bright modern kitchen designed for both everyday living and entertaining. The spacious primary suite offers comfort and privacy, complete with a large walk-in closet and a well-designed bathroom layout. Enjoy the convenience of an in-unit laundry area, generous bedroom sizes, and a unique backyard great for relaxing, entertaining, or creating your own outdoor retreat. Located just 15 minutes from Rainbow Springs State Park and only 3 minutes from the Citrus Springs tennis courts, and 5 m from golf and country club this home offers the perfect blend of nature, recreation, and convenience. A nearby comparable home recently sold for $310,000, making this an excellent opportunity to get value before prices continue to rise. Don’t wait—homes like this in growing communities move quickly. Schedule your showing today!

18. 2026-04-22
    listed $298,000 Active
19. 2026-02-12
    listed $298,000 Active 1313-char remark

    Show marketing remark (1313 chars)

    Live minutes from Rainbow Springs State Park, enjoy nearby golf and tennis courts, and come home to the comfort of brand-new construction. Welcome to this beautifully completed new construction home featuring 4 bedrooms, 2 bathrooms, a spacious 2-car garage, and 1,787 square feet of thoughtfully designed living space in a quiet and growing community of Citrus Springs. Step inside to discover an open and inviting floor plan with elegant finishes, beautiful countertops, and a bright modern kitchen designed for both everyday living and entertaining. The spacious primary suite offers comfort and privacy, complete with a large walk-in closet and a well-designed bathroom layout. Enjoy the convenience of an in-unit laundry area, generous bedroom sizes, and a unique backyard great for relaxing, entertaining, or creating your own outdoor retreat. Located just 15 minutes from Rainbow Springs State Park and only 3 minutes from the Citrus Springs tennis courts, and 5 m from golf and country club this home offers the perfect blend of nature, recreation, and convenience. A nearby comparable home recently sold for $310,000, making this an excellent opportunity to get value before prices continue to rise. Don’t wait—homes like this in growing communities move quickly. Schedule your showing today!

20. 2024-04-26
    soldstatus $108,100
21. 2024-01-19
    historical
22. 2023-11-29
    soldstatus $13,000
23. 2023-04-12
    listed $299,900 Active
24. 2022-10-21
    soldstatus $11,000
25. 2004-10-01
    soldstatus $42,000
26. 2004-08-31
    soldstatus $15,000

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,019
• − Mortgage interest: −$16,188
• − Property taxes: −$4,335
• − Insurance: −$1,445
• − Repairs & maintenance: −$1,922
• − Management: −$1,922
• − Depreciation: −$8,407
• Taxable loss: −$10,199
• Est. tax savings @ 24.0%: +$2,448
• After-tax cash flow: $-2,543/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 — Citrus Springs

• Score: 68/100
• State rank: #521
• US rank: #9598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Citrus Springs, FL
• County: Citrus County · 111,314 people
• City population: 10,730
• Metro: Homosassa Springs, FL
• Population (ZIP): 11,074
• Household income: $68,939
• Rent vs Own: 12.4% rent · 87.6% own
• Severe rent burden: 171.0

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 (78%)
• Race & ethnicity: White 78% Two or more races 11% Hispanic / Latino 9% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Iranian 3% Romanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1% Other Indo-European 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: ▼ -9.70%
• Current HPI: 328.2164
• 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

+1826.7% since first listed

11 events — show timeline

• 2026-05-22 Price Changed $289,000 RACC
• 2026-05-22 Price Changed $289,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-22 Listed $298,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-12 Listed $298,000 RACC
• 2024-04-26 Sold (Public Records) $108,100 Public Records
• 2024-01-19 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-11-29 Sold (Public Records) $13,000 Public Records
• 2023-04-12 Listed $299,900 Stellar MLS as Distributed by MLS Grid
• 2022-10-21 Sold (Public Records) $11,000 Public Records
• 2004-10-01 Sold (Public Records) $42,000 Public Records
• 2004-08-31 Sold (Public Records) $15,000 Public Records

Property tax history

+15.5%/yr

Latest (2025): $255 · +33.4% YoY. Source: county tax records.