117 Trout Ave · Inverness, FL 34450

$250,000

3 bd · 2.0 ba · 1,351 sqft · Other public records · 477 Days on market

Built 1950 0.26 ac lot ↓ 5% 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).

• Cash flow +13.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Price Improvement: Located near the highly coveted Inverness Downtown area, this home is zoned for both residential and professional office use. It is the perfect location for your personal use, office use, or use as a seasonal or long-term rental. This charming 1950's home has both a nostalgic and a trendy vibe. The home boasts a modernized kitchen, an open floor plan, and beautiful wood flooring. Feel confident because the entire home has had all the plumbing repiped in 2023, the reroof in 2016, and the AC is 2017. The house also has smart home security and a Nest AC thermostat. The spacious fenced backyard retreat will provide much enjoyment for entertaining and enjoying the Florida weat

Key facts

• Wood flooring
• Open floor plan
• Modernized kitchen

Tags

• MODERNIZED KITCHEN
• OPEN FLOOR PLAN
• WOOD FLOORING
• FULLY FURNISHED
• PLUMBING REPIPED
• REROOF

Property features AI

Exterior

• Parking: Attached carport; Concrete driveway; 1 parking space total
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; East-facing
• Construction: Stucco construction; Asphalt shingle roof; Block foundation; Built with traditional materials
• Exterior features: Corner lot; Paved road access; Outdoor pool; Shed(s)

Interior

• Kitchen: Bar fridge; Dishwasher; Disposal; Gas oven; Gas range; Microwave
• Flooring: Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Breakfast bar; High-speed internet; Blinds and window treatments
• Laundry & utility: Stacked washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $250k.

Deal economics

• At list price, monthly cash flow is $28 ($341/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (24.1% below list).
• Recommended offer: $190k (24.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.9% in Inverness — 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 (#564 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing 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: Inverness Primary School (math 54% / reading 55%, grade C, #892 of 2,144 statewide, top 44%, 683 students, 65% FRL); Inverness Middle School (math 52% / reading 48%, grade C, #254 of 571 statewide, top 45%, 1,017 students, 60% FRL); Citrus High School (math 34% / reading 51%, grade F, #264 of 667 statewide, top 41%, 1,503 students, 54% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 208 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $2k of loan paydown is wiped out by about $8k 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 477 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $78k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; list at $250k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $189,653 (24.1% below list)

Questions for the listing agent

1. It's been on market 477 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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: 0.76% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.49%
• DSCR: 1.02
• GRM: 11.0

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: -15.6%
• Equity multiple: 0.45×
• Total profit: $-38,832
• Equity at exit: $37,276

10-year hold

• IRR: -7.2%
• Equity multiple: 0.54×
• Total profit: $-32,013
• Equity at exit: $21,615

Cash invested: $70,000 (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 34450

• Home prices YoY: -18.7%
• Active inventory: 208
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,897 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$55 /mo · $656/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $28

Break-even live

Break-even rent $1,861

Max offer price $250,000

Occupancy floor 94%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 Talmage Ave Inverness, FL	3.0	2.0	1400	$1,600	$1.14	21d	1	0.10mi
426 Ella Ave Inverness, FL	2.0	2.0	1304	$2,100	$1.61	21d	1	0.43mi
419 N Apopka Ave Inverness, FL	2.0	2.0	1503	$3,500	$2.33	21d	1	0.68mi
415 W Circlewood St Inverness, FL	3.0	2.0	1621	$1,850	$1.14	21d	1	0.92mi
608 Whitney Ave Inverness, FL	3.0	2.0	1288	$1,660	$1.29	21d	1	0.99mi
1821 Kimberly Ln Inverness, FL	3.0	2.0	1554	$1,800	$1.16	21d	1	1.03mi
876 Pritchard Island Rd Inverness, FL	2.0	2.0	1148	$2,200	$1.92	21d	1	1.31mi
988 Ibis Ct Inverness, FL	4.0	2.0	1820	$2,800	$1.54	21d	1	1.34mi
908 Pritchard Island Rd Inverness, FL	2.0	2.0	1148	$2,200	$1.92	21d	1	1.37mi
2400 Forest Dr Inverness, FL	2.0	2.0	1035	$1,425	$1.38	21d	2	1.45mi
215 Bittern Loop Inverness, FL	3.0	2.0	1529	$1,900	$1.24	21d	1	1.46mi

Listing history 29 events

1. 2026-06-19
   days on market $250,000 Active 477 DOM
2. 2026-06-18
   days on market $250,000 Active 476 DOM
3. 2026-06-17
   days on market $250,000 Active 475 DOM
4. 2026-06-16
   days on market $250,000 Active 474 DOM
5. 2026-06-15
   days on market $250,000 Active 473 DOM
6. 2026-06-14
   days on market $250,000 Active 471 DOM
7. 2026-06-13
   days on market $250,000 Active 470 DOM
8. 2026-06-09
   days on market $250,000 Active 467 DOM
9. 2026-06-08
   days on market $250,000 Active 466 DOM
10. 2026-06-03
    days on market $250,000 Active 461 DOM
11. 2026-06-02
    days on market $250,000 Active 460 DOM
12. 2026-06-01
    days on market $250,000 Active 459 DOM
13. 2026-05-31
    days on market $250,000 Active 458 DOM
14. 2026-05-30
    days on market $250,000 Active 457 DOM
15. 2026-04-03
    price $260,000
16. 2026-03-04
    price $279,000
17. 2026-03-03
    status Active
18. 2026-03-01
    historical
19. 2025-06-06
    price $289,000
20. 2025-04-08
    price $299,000
21. 2025-03-31
    price $309,000
22. 2025-02-25
    listed $328,000 Active
23. 2024-11-14
    price $338,000
24. 2024-03-12
    price $359,000
25. 2019-07-22
    soldstatus $130,000
26. 2019-02-18
    soldstatus $115,000
27. 2016-11-30
    soldstatus $70,000
28. 2007-02-28
    historical
29. 2006-10-03
    listed $275,000

ⓘ 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: $656 · $55/mo
• Projected year-2 tax: $2,075 · $173/mo
• Expected delta: +$1,419/yr (+$118/mo · 216.3%)

ⓘ 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 · 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: $22,758
• − Mortgage interest: −$14,004
• − Property taxes: −$656
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − Depreciation: −$7,273
• Taxable loss: −$4,066
• Est. tax savings @ 24.0%: +$976
• After-tax cash flow: $1,317/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 — Inverness

• Score: 67/100
• State rank: #564
• US rank: #10791

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Inverness, FL
• City population: 10,621
• Population (ZIP): 10,408

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 (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 8% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 3% 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: ▼ -72.56%
• Current HPI: 315.9725
• 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

-5.5% since first listed

15 events — show timeline

• 2026-04-03 Price Changed $260,000 RACC
• 2026-03-04 Price Changed $279,000 RACC
• 2026-03-03 Relisted — RACC
• 2026-03-01 Delisted — RACC
• 2025-06-06 Price Changed $289,000 RACC
• 2025-04-08 Price Changed $299,000 RACC
• 2025-03-31 Price Changed $309,000 RACC
• 2025-02-25 Listed $328,000 RACC
• 2024-11-14 Price Changed $338,000 RACC
• 2024-03-12 Price Changed $359,000 RACC
• 2019-07-22 Sold (Public Records) $130,000 Public Records
• 2019-02-18 Sold (Public Records) $115,000 Public Records
• 2016-11-30 Sold (Public Records) $70,000 Public Records
• 2007-02-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2006-10-03 Listed $275,000 Stellar MLS as Distributed by MLS Grid

Property tax history

-24.5%/yr

Latest (2018): $656 · +0.3% YoY. Source: county tax records.