8616 N Reina Loop · Pine Ridge, FL 34428

$180,000

3 bd · 2.0 ba · 1,092 sqft · SingleFamily public records · 13 Days on market

Built 2015 10,019 sqft lot Est $192k · 6% under

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Why this score? — see what drove the B- 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 +27.4/30.0
• ARV discount +10.4/15.0
• DSCR +9.6/10.0
• 1% rule +6.3/10.0
• 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 MLS

Building lot with little clearing needed. Nice country setting. Make your proposal. Seller wants property sold.

Key facts

• Open back yard
• No hoa restrictions
• 8x8 shed

Tags

• INDOOR LAUNDRY ROOM
• OPEN BACK YARD
• NO HOA RESTRICTIONS
• 8X8 SHED

Property features AI

Exterior

• Parking: Concrete driveway
• Utilities: Private well water
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Asphalt shingle roof; Built as residential single-family (year built not provided)
• Exterior features: Wooded lot; County road frontage; Shed on property

Interior

• Kitchen: Electric oven; Refrigerator
• Flooring: Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Electric oven; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 9.8% 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; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• At $2,040/mo this rent would consume 48% 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $12k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $2k; list at $180k implies a 8900% 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; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,000

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: 1.13% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.49%
• DSCR: 1.56
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $192,192
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8734 N Reina Loop	0.11mi	3/2.0	1,092 (0%)	1mo	$129,000	$118	94
8650 N Catapane Loop	0.20mi	3/2.0	1,092 (0%)	2mo	$197,798	$181	89
8748 N Discalfani Loop	0.15mi	3/2.0	1,092 (0%)	5mo	$192,500	$176	89
8120 W Milano Ln	0.22mi	3/2.0	1,010 (-8%)	18mo	$140,000	$139	62

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: 2.2%
• Equity multiple: 1.08×
• Total profit: $4,186
• Equity at exit: $26,839

10-year hold

• IRR: 11.7%
• Equity multiple: 1.92×
• Total profit: $46,412
• Equity at exit: $15,563

Cash invested: $50,400 (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 →

ZIP-level market 34428

• Home prices YoY: -15.3%
• Active inventory: 320
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,040 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$68 /mo · $818/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $525

Break-even live

Break-even rent $1,376

Max offer price $180,000

Occupancy floor 69%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-13
   status $180,000 Pending 13 DOM
2. 2026-06-10
   days on market $180,000 Active 13 DOM
3. 2026-06-09
   days on market $180,000 Active 12 DOM
4. 2026-06-09
   price $180,000 Active 11 DOM
5. 2026-06-08
   days on market $192,500 Active 11 DOM
6. 2026-06-07
   days on market $192,500 Active 10 DOM
7. 2026-06-03
   days on market $192,500 Active 6 DOM
8. 2026-06-02
   days on market $192,500 Active 5 DOM
9. 2026-06-01
   days on market $192,500 Active 4 DOM
10. 2026-05-31
    days on market $192,500 Active 3 DOM
11. 2026-05-30
    days on market $192,500 Active 2 DOM
12. 2026-05-28
    listed $192,500 Active
13. 2013-06-03
    soldstatus $2,000 111-char remark

    Show marketing remark (111 chars)

    Building lot with little clearing needed. Nice country setting. Make your proposal. Seller wants property sold.

14. 2011-02-25
    listed $4,800 111-char remark

    Show marketing remark (111 chars)

    Building lot with little clearing needed. Nice country setting. Make your proposal. Seller wants property sold.

15. 2005-08-25
    soldstatus $7,000

ⓘ 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: $818 · $68/mo
• Projected year-2 tax: $1,494 · $124/mo
• Expected delta: +$676/yr (+$56/mo · 82.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,483
• − Mortgage interest: −$10,083
• − Property taxes: −$818
• − Insurance: −$900
• − Repairs & maintenance: −$1,959
• − Management: −$1,959
• − Depreciation: −$5,236
• Taxable income: $3,529
• Est. tax owed @ 24.0%: −$847
• After-tax cash flow: $5,450/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

+2650.0% since first listed

4 events — show timeline

• 2026-05-28 Listed $192,500 RACC
• 2013-06-03 Sold (MLS) $2,000 RACC
• 2011-02-25 Listed $4,800 RACC
• 2005-08-25 Sold (Public Records) $7,000 Public Records

Property tax history

+33.9%/yr

Latest (2025): $818 · +10.0% YoY. Source: county tax records.