416 N Hourglass Ter · Crystal River, FL 34429

$199,900

2 bd · 2.0 ba · 1,456 sqft · SingleFamily public records · 98 Days on market

Built 1984 0.26 ac lot Est $282k · 29% under

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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 +16.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• 1% rule +4.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This property has a separate studio with full kitchen. Welcome to 416 N Hourglass Terrace, your tropical Crystal River retreat just minutes from Fort Island Beach and the waterfront amenities near the Plantation Resort. This beautifully fully updated property offers a flexible layout with a 3-bedroom, 2-bath main home plus an attached 1-bedroom, 1-bath in-law suite each with its own full kitchen, perfect for multi-generational living, guests, or rental income. Inside, you ll find luxury vinyl plank flooring, gorgeous remodeled bathrooms, and fresh, modern finishes throughout. A brand-new roof adds long-term peace of mind. Step outside into your own tropical paradise with lush palm trees, vi

Key facts

• Full kitchen
• Private backyard
• Separate studio

Tags

• SEPARATE STUDIO
• FULL KITCHEN
• ATTACHED IN-LAW SUITE
• PRIVATE BACKYARD
• VIBRANT NATIVE LANDSCAPING

Property features AI

Exterior

• Parking: Unassigned parking
• Utilities: Septic tank
• Home design: Single-family residence; One story
• Construction: Block, concrete and stucco construction; Block foundation; Asphalt shingle roof; Built on one level
• Exterior features: Cleared lot; County road frontage; No pool

Interior

• Kitchen: Oven; Range
• Bathrooms: 3 full bathrooms
• Interior features: Oven; Range; Central air; Heat pump

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-321 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (28.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (9.9% below list).
• Recommended offer: $143k (28.4% below list) — sets the bar for cash-flow.
• Cap rate 6.9% vs local median 2.1% in Crystal River — 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 66/100 on livability (#603 in FL) — a middle-class / working-renter tenant base. Strengths: crime 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: 325 active listings in the ZIP; 3 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).

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 98 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $200k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $143,144 (28.4% 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 98 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-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. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.26%
• DSCR: 1.10
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $282,464
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9679 W Pimpernel Ln	0.13mi	3/2.0 (+1)	1,468 (+1%)	8mo	$220,000	$150	81
9766 W Smokey Ln	0.32mi	3/2.0 (+1)	1,466 (+1%)	1mo	$306,000	$209	78
9600 W Plantation Ln	0.15mi	2/2.0	1,260 (-14%)	2mo	$185,000	$147	68
950 N Gardenview Ter	0.53mi	3/2.0 (+1)	1,456 (0%)	8mo	$333,200	$229	63
778 N Michael Brunn Pt	0.50mi	3/2.0 (+1)	1,439 (-1%)	13mo	$330,000	$229	59
540 N Afterglow Cir	0.62mi	3/2.0 (+1)	1,466 (+1%)	10mo	$255,000	$174	57
868 & 882 N Gardenview Ter	0.45mi	3/2.0 (+1)	1,564 (+7%)	10mo	$303,000	$194	54
1065 N Crescent Dr	0.64mi	2/2.0	1,488 (+2%)	17mo	$450,000	$302	52
841 N Palm Springs Ter	0.50mi	3/2.5 (+1)	1,594 (+10%)	8mo	$290,000	$182	47
595 N Afterglow Cir	0.66mi	2/2.0	1,526 (+5%)	18mo	$130,000	$85	46
660 N Afterglow Cir	0.65mi	3/2.0 (+1)	1,511 (+4%)	17mo	$225,000	$149	44
950 N Appalachian Ter	0.53mi	3/2.0 (+1)	1,248 (-14%)	21mo	$247,500	$198	29

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: -28.0%
• Equity multiple: 0.06×
• Total profit: $-52,605
• Equity at exit: $29,806

10-year hold

• IRR: -26.2%
• Equity multiple: -0.27×
• Total profit: $-71,143
• Equity at exit: $17,284

Cash invested: $55,972 (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 34429

• Home prices YoY: -17.8%
• Active inventory: 325
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$185 /mo · $2,225/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-321

Break-even live

Break-even rent $2,207

Max offer price $143,144

Occupancy floor —

Sensitivity live

Price	-10% $-208	-5% $-265	+0% $-321	+5% $-378	+10% $-434
Rent	-10% $-464	-5% $-392	+0% $-321	+5% $-250	+10% $-179
Rate	-1.0pp $-221	-0.5pp $-270	base $-321	+0.5pp $-373	+1.0pp $-426

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
493 N Sams Pt Crystal River, FL	2.0	2.0	1000	$1,300	$1.30	21d	1	0.27mi
450 N Elmwood Pt Crystal River, FL	2.0	2.0	950	$1,450	$1.53	21d	1	0.40mi
540 N Afterglow Cir Crystal River, FL	3.0	2.0	1500	$2,950	$1.97	21d	1	0.60mi

Listing history 24 events

1. 2026-06-19
   days on market $199,900 Active 98 DOM
2. 2026-06-18
   days on market $199,900 Active 97 DOM
3. 2026-06-17
   days on market $199,900 Active 96 DOM
4. 2026-06-16
   days on market $199,900 Active 95 DOM
5. 2026-06-15
   days on market $199,900 Active 94 DOM
6. 2026-06-14
   days on market $199,900 Active 92 DOM
7. 2026-06-13
   days on market $199,900 Active 91 DOM
8. 2026-06-09
   days on market $199,900 Active 88 DOM
9. 2026-06-08
   days on market $199,900 Active 87 DOM
10. 2026-06-03
    days on market $199,900 Active 82 DOM
11. 2026-06-02
    days on market $199,900 Active 81 DOM
12. 2026-06-01
    days on market $199,900 Active 80 DOM
13. 2026-05-31
    days on market $199,900 Active 79 DOM
14. 2026-05-30
    days on market $199,900 Active 78 DOM
15. 2026-05-08
    price $199,900
16. 2026-04-29
    price $204,900
17. 2026-03-23
    price $209,900
18. 2026-03-13
    listed $214,400 Active
19. 2026-02-20
    historical
20. 2026-01-02
    price $214,999
21. 2025-12-20
    price $216,900
22. 2025-12-05
    price $219,900
23. 2025-11-14
    listed $224,900 Active
24. 1993-05-17
    soldstatus $40,000

ⓘ 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: $2,225 · $185/mo
• Projected year-2 tax: $2,225 · $185/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 25 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: $21,604
• − Mortgage interest: −$11,198
• − Property taxes: −$2,225
• − Insurance: −$6,118
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$5,815
• Taxable loss: −$7,208
• Est. tax savings @ 24.0%: +$1,730
• After-tax cash flow: $-2,125/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 — Crystal River

• Score: 66/100
• State rank: #603
• US rank: #11564

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 10,163
• Population (ZIP): 9,494

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% Black 5% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -58.92%
• Current HPI: 271.3171
• 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

+399.8% since first listed

10 events — show timeline

• 2026-05-08 Price Changed $199,900 RACC
• 2026-04-29 Price Changed $204,900 RACC
• 2026-03-23 Price Changed $209,900 RACC
• 2026-03-13 Listed $214,400 RACC
• 2026-02-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-01-02 Price Changed $214,999 Stellar MLS as Distributed by MLS Grid
• 2025-12-20 Price Changed $216,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-05 Price Changed $219,900 Stellar MLS as Distributed by MLS Grid
• 2025-11-14 Listed $224,900 Stellar MLS as Distributed by MLS Grid
• 1993-05-17 Sold (Public Records) $40,000 Public Records

Property tax history

+10.6%/yr

Latest (2025): $2,225 · -2.1% YoY. Source: county tax records.