204 Davidson Ave · Inverness, FL 34450

$179,000

3 bd · 1.5 ba · 3,360 sqft · SingleFamily public records · 95 Days on market

Built 1956 0.36 ac lot

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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 +20.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• DSCR +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

HOT Deal Alert: This property deal has a high potential return. Make sure you strike while it's HOT so you don't miss your chance at a high potential ROI. The potential return is based on the estimated resale value and estimated credit bid for the property, and doesn't consider any repair, legal or transaction costs due to the current condition of the property.

Key facts

• 0.36 acre lot
• 2 garage spots
• Built 1956

Property features AI

Finance

• Other: Lot approximately 0.36 acres (25 x 133); Building area total listed as 3,360 square feet; living area listed as 1,680 square feet
• Financial info: No lease restrictions reported
• HOA & community: No association indicated

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single Family Residence; Residential property; One-story; Faces west; Zoned RO
• Construction: Block, concrete, stucco and frame construction; Other roof type; Other foundation
• Exterior features: Other exterior features; Limerock and paved road access

Interior

• Kitchen: Microwave
• Bedrooms: 4 bedrooms
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Other interior features
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $163k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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.
• Market conditions: 208 active listings in the ZIP; 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 $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 95 days — a 9% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $28k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $179k implies a 384% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $162,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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: 1.14% ✓
• Cap rate: 7.77%
• Cash-on-cash: 5.28%
• DSCR: 1.23
• GRM: 7.3

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: -8.0%
• Equity multiple: 0.70×
• Total profit: $-14,835
• Equity at exit: $26,689

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $5,683
• Equity at exit: $15,477

Cash invested: $50,120 (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: 7.3×

Monthly cashflow live

• Estimated rent: $2,044 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$381 /mo · $4,576/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $220

Break-even live

Break-even rent $1,765

Max offer price $179,000

Occupancy floor 84%

Sensitivity live

Price	-10% $322	-5% $271	+0% $220	+5% $170	+10% $119
Rent	-10% $59	-5% $140	+0% $220	+5% $301	+10% $382
Rate	-1.0pp $311	-0.5pp $266	base $220	+0.5pp $174	+1.0pp $127

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $179,000 Active 95 DOM
2. 2026-06-18
   days on market $179,000 Active 94 DOM
3. 2026-06-17
   days on market $179,000 Active 93 DOM
4. 2026-06-16
   days on market $179,000 Active 92 DOM
5. 2026-06-15
   days on market $179,000 Active 91 DOM
6. 2026-06-14
   days on market $179,000 Active 89 DOM
7. 2026-06-13
   remarks 363-char remark
8. 2026-06-13
   listed $179,000 Active 88 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: $4,576 · $381/mo
• Projected year-2 tax: $4,576 · $381/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 4/10 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: $24,533
• − Mortgage interest: −$10,027
• − Property taxes: −$4,576
• − Insurance: −$895
• − Repairs & maintenance: −$1,963
• − Management: −$1,963
• − Depreciation: −$5,207
• Taxable loss: −$97
• Est. tax savings @ 24.0%: +$23
• After-tax cash flow: $2,669/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

+383.8% since first listed

8 events — show timeline

• 2026-06-09 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-06-09 Price Changed $179,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-15 Price Changed $350,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-22 Price Changed $189,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-03 Price Changed $200,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-20 Price Changed $204,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-22 Listed $207,500 Stellar MLS as Distributed by MLS Grid
• 1980-02-01 Sold (Public Records) $37,000 Public Records

Property tax history

+18.6%/yr

Latest (2025): $4,576 · +12.6% YoY. Source: county tax records.