1698 W Spring Meadow Loop · Pine Ridge, FL 34461

$219,000

3 bd · 2.5 ba · 1,663 sqft · Townhouse public records · 9 Days on market

Built 2005 3,087 sqft lot Est $233k · 6% under $364/mo HOA · 15% of rent

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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 +14.7/30.0
• ARV discount +10.2/15.0
• 1% rule +6.0/10.0
• DSCR +4.5/10.0
• 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

Bank owned foreclosure Brentwood Townhome for sale featuring 2 bedrooms, 2.5 bathrooms and a 1 car attached garage; 1655 sq ft living space; 8x20 screened porch; laundry closet upstairs; breakfast bar; kitchen eat-in nook; kitchen has microwave and dishwasher; gas hot water heater; master bathroom with dual sinks and large tiled shower. Priced to sell!

Key facts

• Gated community
• Natural light
• Screened porch

Tags

• GATED COMMUNITY
• CORNER UNIT
• NATURAL LIGHT
• SCREENED PORCH
• TRANQUIL POND
• DUAL SINK VANITY

Property features AI

Finance

• Other: Subdivision: Citrus Hills - Brentwood
• HOA & community: Homeowners association with monthly fee of $182; Quarterly fee of $548.64; HOA includes cable TV, grounds maintenance, structure maintenance, and security

Exterior

• Parking: Attached garage with garage door opener; Concrete driveway; 1 total parking space (1 garage space)
• Security: Gated community; Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Townhouse; Faces northeast
• Construction: Stucco construction; Block and slab foundation; Concrete and tile roof
• Exterior features: Sliding doors; Community pool; Gated community; Zero lot line; Paved private road (private maintained)

Interior

• Kitchen: Dishwasher; Electric oven; Microwave; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump; Central air conditioning
• Interior features: Breakfast bar; Laminate countertops; Walk-in closet(s); Blinds and window coverings; Window treatments
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $219k.

Deal economics

• At list price, monthly cash flow is $56 ($675/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $219k).
• Cap rate 6.6% 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: Forest Ridge Elementary School (math 55% / reading 59%, grade C+, #781 of 2,144 statewide, top 38%, 708 students, 67% 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 56% FRL track the district average.
• Market conditions: 199 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• At $2,408/mo this rent would consume 46% of the median local household income ($63k/yr) (locally 41% 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 $2k of loan paydown is wiped out by about $7k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y 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 $78k; list at $219k implies a 181% 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 $219,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.10% ✓
• Cap rate: 6.60%
• Cash-on-cash: 1.10%
• DSCR: 1.05
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $232,820
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1685 W Spring Meadow Loop	0.04mi	2/2.5 (-1)	1,663 (0%)	0mo	$227,000	$137	93
1692 W Spring Meadow Loop	0.01mi	3/2.5	1,663 (0%)	8mo	$230,000	$138	92
1590 W Spring Meadow Loop	0.08mi	2/2.5 (-1)	1,664 (+0%)	8mo	$250,000	$150	84
1560 W Sweet Oaks Ct	0.18mi	3/2.5	1,676 (+1%)	17mo	$235,000	$140	76

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: -14.4%
• Equity multiple: 0.48×
• Total profit: $-31,665
• Equity at exit: $32,654

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-21,983
• Equity at exit: $18,935

Cash invested: $61,320 (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 34461

• Home prices YoY: -10.2%
• Active inventory: 199
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,408 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$242 /mo · $2,907/yr
• Insurance: −$91
• HOA: −$364
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $56

Break-even live

Break-even rent $2,337

Max offer price $219,000

Occupancy floor 93%

Sensitivity live

Price	-10% $180	-5% $118	+0% $56	+5% $-6	+10% $-68
Rent	-10% $-134	-5% $-39	+0% $56	+5% $151	+10% $246
Rate	-1.0pp $167	-0.5pp $112	base $56	+0.5pp $-1	+1.0pp $-58

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1658 W Spring Meadow Loop Lecanto, FL	2.0	2.5	1359	$1,775	$1.31	23d	1	0.05mi
1610 W Spring Meadow Loop Lecanto, FL	2.0	2.5	1359	$2,700	$1.99	23d	1	0.09mi
1973 N Ember Path Hernando, FL	2.0	2.0	1786	$2,800	$1.57	23d	1	0.22mi
2443 N Andrea Pt Lecanto, FL	3.0	2.5	1988	$2,500	$1.26	23d	1	0.26mi
1876 W Shanelle Path Lecanto, FL	3.0	2.0	1675	$2,100	$1.25	23d	1	0.42mi
1933 W Shanelle Path Lecanto, FL	3.0	2.0	1690	$2,300	$1.36	23d	1	0.47mi
1281 W Diamond Shore Loop Hernando, FL	2.0	2.0	1686	$3,000	$1.78	23d	1	0.57mi
2131 N Pinecone Ave Lecanto, FL	2.0	2.0	1438	$2,000	$1.39	23d	1	0.63mi
1240 W Diamond Shore Loop Hernando, FL	2.0	2.0	1770	$2,900	$1.64	23d	1	0.66mi
1882 W Angelica Loop Lecanto, FL	3.0	2.0	1706	$1,900	$1.11	23d	1	0.70mi
1020 W Rollingwood Ct Hernando, FL	3.0	2.5	2146	$3,400	$1.58	23d	1	0.78mi
877 W Silver Meadow Loop Hernando, FL	3.0	2.0	1637	$2,500	$1.53	23d	1	0.84mi
1984 W Marsten Ct Lecanto, FL	3.0	2.0	1854	$2,000	$1.08	23d	1	0.86mi
12 Montana St Beverly Hills, FL	2.0	1.0	1088	$1,700	$1.56	23d	1	1.03mi
1024 W Beagle Run Loop Hernando, FL	3.0	2.5	2177	$3,500	$1.61	23d	1	1.08mi
209 S Tyler St Beverly Hills, FL	2.0	2.0	1604	$1,500	$0.94	23d	1	1.21mi
95 S Desoto St Beverly Hills, FL	2.0	2.0	1152	$1,435	$1.25	23d	1	1.24mi
3263 N Maidencane Dr Beverly Hills, FL	2.0	1.0	1380	$1,350	$0.98	23d	1	1.27mi
703 W Sunbird Path Hernando, FL	2.0	2.0	1298	$1,700	$1.31	23d	1	1.29mi
95 S Fillmore St Beverly Hills, FL	2.0	1.0	1056	$1,300	$1.23	23d	1	1.33mi
1559 N Killebrew Pt Unit NA Hernando, FL	3.0	2.0	1771	$2,900	$1.64	23d	1	1.46mi

HOA detail

• Monthly dues: $364 · $4,368/yr
• Likely covers: watergas

Listing history 8 events

1. 2026-06-21
   days on market $219,000 Active 9 DOM
2. 2026-06-19
   days on market $219,000 Active 7 DOM
3. 2026-06-18
   days on market $219,000 Active 6 DOM
4. 2026-06-17
   days on market $219,000 Active 5 DOM
5. 2026-06-16
   days on market $219,000 Active 4 DOM
6. 2026-06-15
   days on market $219,000 Active 3 DOM
7. 2026-06-13
   remarks 687-char remark
8. 2026-06-13
   listed $219,000 Active 1 DOM

ⓘ 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: $2,907 · $242/mo
• Projected year-2 tax: $2,907 · $242/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 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: $28,895
• − Mortgage interest: −$12,267
• − Property taxes: −$2,907
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,312
• − Management: −$2,312
• − HOA: −$4,368
• − Depreciation: −$6,371
• Taxable loss: −$2,737
• Est. tax savings @ 24.0%: +$657
• After-tax cash flow: $1,332/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

• Census place: Pine Ridge, FL
• County: Citrus County · 111,314 people
• City population: 18,514
• Metro: Homosassa Springs, FL
• Population (ZIP): 13,377
• Household income: $63,418
• Rent vs Own: 10.7% rent · 89.3% own
• Severe rent burden: 41.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 7% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 95% 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: ▼ -29.48%
• Current HPI: 258.0866
• 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

+32.8% since first listed

6 events — show timeline

• 2026-06-12 Listed $219,000 RACC
• 2013-01-17 Sold (MLS) $78,000 RACC
• 2012-12-07 Listed $79,900 RACC
• 2008-04-14 Sold (MLS) $154,000 RACC
• 2008-03-01 Sold (Public Records) $154,000 Public Records
• 2007-05-17 Listed $164,900 RACC

Property tax history

+6.4%/yr

Latest (2025): $2,907 · +6.2% YoY. Source: county tax records.