1 Cypress Run St Unit 11B · Sugarmill Woods, FL 34446

$155,000

2 bd · 2.0 ba · 1,419 sqft · Condo · 278 Days on market

Built 1981 Average condition $109/sqft · 12% below area Est $176k · 12% under $565/mo HOA · 32% of rent ↓ 9% since listing

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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).

• ARV discount +12.8/15.0
• Cash flow +6.6/30.0
• 1% rule +6.3/10.0
• Schools +5.1/10.0
• Livability +3.0/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Relax and enjoy convenient living in this 2nd floor corner end unit with screened porch looking over dense greenbelt. Storage closet on porch. Swimming pool on condo grounds for owners use. Coved ceiling in kitchen with breakfast bar opening to dining room and living room. Master suite has dressing room, walk-in closet, walk-in separate tub and nice long vanity. New windows in unit. Washer/Dryer closet. Elevator in building. No pet community. Monthly HOA includes water, outside maintenance, trash removal, use of community pool, cable and Wi-Fi.

Key facts

• Master suite
• Coved ceiling
• Storage closet

Tags

• SCREENED PORCH
• STORAGE CLOSET
• SWIMMING POOL
• COVED CEILING
• BREAKFAST BAR
• MASTER SUITE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $155k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-257 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (23.9% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $118k (23.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 59/100 on livability (#825 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; 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: Lecanto Primary School (math 55% / reading 53%, grade C, #936 of 2,144 statewide, top 44%, 820 students, 63% FRL); Lecanto Middle School (math 49% / reading 49%, grade C-, #265 of 571 statewide, top 48%, 809 students, 55% FRL); Lecanto High School (math 46% / reading 53%, grade D, #179 of 667 statewide, top 29%, 1,630 students, 46% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 808 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 117d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% 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.
• 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 278 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,881 (23.9% 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 278 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 4.31%
• Cash-on-cash: -7.09%
• DSCR: 0.68
• GRM: 7.4

CMA / ARV

• ARV (median comp): $175,634
• List price: $155,000
• Delta: -11.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Cypress Run Unit 26B	0.05mi	2/2.0	1,410 (-1%)	1mo	$132,000	$94	96
10 Sycamore Cir	0.19mi	2/2.0	1,400 (-1%)	1mo	$215,000	$154	88
3 Cypress Run Unit 33A	0.08mi	2/2.0	1,643 (+16%)	1mo	$163,000	$99	70
2 Quail Run	0.42mi	2/2.0	1,528 (+8%)	1mo	$215,000	$141	67
16 Golfview Ct	0.74mi	2/2.0	1,436 (+1%)	0mo	$220,000	$153	63
49 Douglas St #22	0.70mi	2/2.5	1,456 (+3%)	0mo	$140,000	$96	60
53 Douglas St #16	0.74mi	2/2.5	1,456 (+3%)	1mo	$107,000	$73	59
5 Dahoon Dr	0.88mi	3/2.0 (+1)	1,394 (-2%)	1mo	$235,000	$169	56
23 Sweetgum Ct S	0.89mi	2/2.0	1,269 (-11%)	1mo	$275,000	$217	47
7003 W Sedan Ct	1.43mi	3/2.0 (+1)	1,248 (-12%)	1mo	$289,000	$232	39
5470 W Hunter Run Ln	1.18mi	3/2.0 (+1)	1,738 (+22%)	1mo	$324,000	$186	34
3 Rebecca Ct	1.03mi	3/3.0 (+1)	1,734 (+22%)	0mo	$295,000	$170	31

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: -28.2%
• Equity multiple: 0.05×
• Total profit: $-41,081
• Equity at exit: $23,111

10-year hold

• IRR: -26.0%
• Equity multiple: -0.27×
• Total profit: $-55,293
• Equity at exit: $13,402

Cash invested: $43,400 (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 →

Active competition Active MLS

• For sale now: 2 active
• Median asking: $219,500 ($169/sqft)
• Median days on market: 20 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -26.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 34446

• Home prices YoY: -10.4%
• Active inventory: 808
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,746 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$565
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $-257

Break-even live

Break-even rent $2,071

Max offer price $117,881

Occupancy floor —

Sensitivity live

Price	-10% $-149	-5% $-203	+0% $-257	+5% $-310	+10% $-364
Rent	-10% $-394	-5% $-326	+0% $-257	+5% $-188	+10% $-119
Rate	-1.0pp $-178	-0.5pp $-217	base $-257	+0.5pp $-297	+1.0pp $-338

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: $38,750
• Closing costs: $4,650
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Black Cherry Dr Homosassa, FL	2.0	2.0	1140	$1,600	$1.40	116d	1	0.21mi
5 Jamaica St Homosassa, FL	2.0	2.0	1353	$1,500	$1.11	116d	1	0.25mi
13 Jamaica St Homosassa, FL	2.0	2.0	1040	$1,450	$1.39	5d	1	0.28mi
17 Jamaica St Homosassa, FL	2.0	2.0	1100	$1,500	$1.36	116d	1	0.30mi
57 Chinaberry Cir Homosassa, FL	2.0	2.0	1132	$1,575	$1.39	116d	1	0.38mi
17 Dogwood Dr Homosassa, FL	2.0	2.0	1400	$1,600	$1.14	116d	1	0.54mi
23 Dogwood Dr Homosassa, FL	2.0	2.0	1492	$2,200	$1.47	116d	1	0.56mi
117 Golfview Dr Homosassa, FL	2.0	2.0	1507	$2,000	$1.33	116d	1	0.69mi
51 Golfview Ct Homosassa, FL	2.0	2.0	1553	$1,900	$1.22	116d	1	0.71mi
6270 W Oak Park Blvd Unit 6270 Homosassa, FL	3.0	2.0	1500	$1,850	$1.23	110d	1	0.94mi
6290 W Oak Park Blvd Homosassa, FL	2.0	2.0	925	$1,495	$1.62	54d	1	0.95mi
6789 W Oak Park Blvd Homosassa, FL	2.0	2.0	1200	$1,695	$1.41	77d	1	1.04mi
5538 W Oak Park Blvd Homosassa, FL	2.0	2.0	1439	$1,700	$1.18	5d	1	1.22mi
5356 W Oak Park Blvd Homosassa, FL	3.0	2.0	1451	$2,600	$1.79	5d	1	1.37mi
5356 W Oak Park Blvd Homosassa, FL	3.0	2.0	1451	$2,750	$1.90	119d	1	1.37mi

Property features AI

Finance

• Other: Property type: Residential condominiumSubdivision: Sugarmill Woods
• HOA & community: Homeowners association with monthly feeMonthly association fee of $565HOA includes cable TV, grounds maintenance, pest control, sewer, and trashAssociation amenities include elevator(s)

Exterior

• Parking: Detached carportDrivewayPaved parkingConcrete surfaces1 total parking space
• Security: Smoke detector(s)Breed restrictions for pets
• Utilities: Public waterPublic sewer
• Home design: Residential condominiumFaces east
• Construction: Stucco constructionAsphalt shingle roofBlock and slab foundationBuilt as condominium (year built not provided)
• Exterior features: Sliding doorsIn-ground poolGreenbelt lot featurePaved road accessCounty road frontage

Interior

• Kitchen: DishwasherElectric ovenElectric rangeMicrowaveRefrigeratorLaminate countertopsPantryBreakfast barDisposal
• Bedrooms: Walk-in closet(s)
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pumpCentral air (electric)
• Interior features: ElevatorBreakfast barLaminate countertopsPantryWalk-in closet(s)Blinds and window coveringsDisposalWater heater
• Laundry & utility: WasherDryer

HOA detail $565/mo · $6,780/yr condo

• Likely covers: watertrashinternetcablelandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-24
   days on market $155,000 Active 278 DOM
2. 2026-09-22
   days on market $155,000 Active 277 DOM
3. 2026-09-20
   days on market $155,000 Active 275 DOM
4. 2026-09-19
   days on market $155,000 Active 274 DOM
5. 2026-09-18
   days on market $155,000 Active 273 DOM
6. 2026-09-17
   days on market $155,000 Active 272 DOM
7. 2026-09-16
   days on market $155,000 Active 271 DOM
8. 2026-09-15
   days on market $155,000 Active 270 DOM
9. 2026-09-14
   days on market $155,000 Active 269 DOM
10. 2026-09-13
    days on market $155,000 Active 268 DOM
11. 2026-09-12
    days on market $155,000 Active 267 DOM
12. 2026-09-11
    days on market $155,000 Active 266 DOM
13. 2026-09-05
    days on market $155,000 Active 260 DOM
14. 2026-09-04
    days on market $155,000 Active 259 DOM
15. 2026-09-03
    days on market $155,000 Active 258 DOM
16. 2026-08-31
    days on market $155,000 Active 255 DOM
17. 2026-08-30
    days on market $155,000 Active 254 DOM
18. 2026-08-29
    days on market $155,000 Active 253 DOM
19. 2026-08-28
    days on market $155,000 Active 252 DOM
20. 2026-08-27
    days on market $155,000 Active 251 DOM
21. 2026-08-25
    days on market $155,000 Active 249 DOM
22. 2026-08-24
    days on market $155,000 Active 248 DOM
23. 2026-08-23
    days on market $155,000 Active 247 DOM
24. 2026-08-22
    days on market $155,000 Active 246 DOM
25. 2026-08-20
    days on market $155,000 Active 244 DOM
26. 2026-08-19
    days on market $155,000 Active 243 DOM
27. 2026-08-18
    days on market $155,000 Active 242 DOM
28. 2026-08-17
    days on market $155,000 Active 241 DOM
29. 2026-08-16
    days on market $155,000 Active 240 DOM
30. 2026-08-15
    days on market $155,000 Active 239 DOM
31. 2026-08-15
    days on market $155,000 Active 238 DOM
32. 2026-08-13
    days on market $155,000 Active 237 DOM
33. 2026-08-12
    days on market $155,000 Active 236 DOM
34. 2026-08-11
    days on market $155,000 Active 235 DOM
35. 2026-08-10
    days on market $155,000 Active 234 DOM
36. 2026-08-09
    days on market $155,000 Active 233 DOM
37. 2026-08-08
    days on market $155,000 Active 232 DOM
38. 2026-08-07
    days on market $155,000 Active 231 DOM
39. 2026-08-06
    days on market $155,000 Active 230 DOM
40. 2026-08-05
    days on market $155,000 Active 229 DOM
41. 2026-08-04
    days on market $155,000 Active 228 DOM
42. 2026-08-03
    days on market $155,000 Active 227 DOM
43. 2026-07-31
    days on market $155,000 Active 224 DOM
44. 2026-07-29
    days on market $155,000 Active 222 DOM
45. 2026-07-27
    days on market $155,000 Active 220 DOM
46. 2026-07-25
    days on market $155,000 Active 218 DOM
47. 2026-07-24
    days on market $155,000 Active 217 DOM
48. 2026-07-23
    days on market $155,000 Active 216 DOM
49. 2026-07-22
    days on market $155,000 Active 215 DOM
50. 2026-07-21
    days on market $155,000 Active 214 DOM

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 55% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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: $20,957
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,677
• − Management: −$1,677
• − HOA: −$6,780
• − Depreciation: −$4,509
• Taxable loss: −$5,468
• Est. tax savings @ 24.0%: +$1,312
• After-tax cash flow: $-1,766/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.

Condition & rehab AI · 9 photos

Average 55/100 Cosmetic rehab Est. rehab $7,095–$21,285 screening

A 2nd floor corner end unit with average exterior and interior condition, requiring cosmetic repairs and maintenance to improve its resale and rental value.

Repairs flagged

• Major Landscaping — Overgrown and needs trimming
• Moderate Exterior paint — Siding shows some wear

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Trim landscaping — Improves curb appeal and rental value ↑
• Both Update interior decor — Modernizes interior and enhances both resale and rental appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Lecanto Primary School C FL #936/2,144 Nat'l #10,700/41,679 Middle Lecanto Middle School C- FL #265/571 Nat'l #3,736/14,009 High Lecanto High School D FL #179/667 Nat'l #5,677/17,239

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

D Composite livability gradescore 59/100

Livability — Sugarmill Woods

• Score: 59/100
• State rank: #825
• US rank: #20184

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sugarmill Woods, FL
• County: Citrus County · 138,622 people
• City population: 18,797
• Metro: Homosassa Springs, FL
• Population (ZIP): 19,102
• Household income: $58,802
• Rent vs Own: 6.9% rent · 93.1% own
• Severe rent burden: 6% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 4%

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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: ▼ -32.11%
• Current HPI: 277.2576
• Rent YoY: —
• Metro: Homosassa Springs, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Other: Property type: Residential condominiumSubdivision: Sugarmill Woods
• HOA & community: Homeowners association with monthly feeMonthly association fee of $565HOA includes cable TV, grounds maintenance, pest control, sewer, and trashAssociation amenities include elevator(s)

Exterior

• Parking: Detached carportDrivewayPaved parkingConcrete surfaces1 total parking space
• Security: Smoke detector(s)Breed restrictions for pets
• Utilities: Public waterPublic sewer
• Home design: Residential condominiumFaces east
• Construction: Stucco constructionAsphalt shingle roofBlock and slab foundationBuilt as condominium (year built not provided)
• Exterior features: Sliding doorsIn-ground poolGreenbelt lot featurePaved road accessCounty road frontage

Interior

• Kitchen: DishwasherElectric ovenElectric rangeMicrowaveRefrigeratorLaminate countertopsPantryBreakfast barDisposal
• Bedrooms: Walk-in closet(s)
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pumpCentral air (electric)
• Interior features: ElevatorBreakfast barLaminate countertopsPantryWalk-in closet(s)Blinds and window coveringsDisposalWater heater
• Laundry & utility: WasherDryer

Price history

-8.8% since first listed

4 events — show timeline

• 2026-06-04 Relisted — RACC
• 2026-06-04 Price Changed $155,000 RACC
• 2026-05-22 Delisted — RACC
• 2025-12-05 Listed $170,000 RACC