655 S Marlene Pt · Inverness, FL 34450

$179,900

4 bd · 2.0 ba · 1,836 sqft · Other public records · 9 Days on market

Built 1967 10,495 sqft 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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.6/10.0
• 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

Great income opportunity with this duplex! Both units need some rehab. One unit is occupied and bringing in $1,200 month to month, and the other unit will be vacant by the end of May. Located in a quiet area with access to the Withlacoochee River with no HOA. Sold AS-IS. Cash only.

Key facts

• Sold as-is
• No hoa
• Duplex

Tags

• DUPLEX
• ACCESS TO WITHLACOOCHEE RIVER
• NO HOA
• SOLD AS-IS
• CASH ONLY

Property features AI

Finance

• Other: Property zoning: CLR
• Financial info: Annual net income reported for the multi-family property: $25,200; Pro forma rents indicated: one unit at 2-bedroom pro forma $2,100; the other unit pro forma $900
• HOA & community: No HOA

Exterior

• Parking: Has a carport with 1 carport space
• Security: No security features provided
• Utilities: Well water; Septic sewer; Electricity connected
• Home design: Residential income property configured as a duplex; Single building on the lot; Entry level information not specified; Facing direction not specified
• Construction: Concrete and stucco construction; Shingle roof; Slab foundation; Built area and living area provided (details from public records)
• Exterior features: Other exterior features; Paved road access; River view with river access

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Four bedrooms total; Each unit includes two-bedroom layouts (duplex configuration)
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Fireplace in the living room; Other interior features
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $180k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/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 8.2% 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $90k; list at $180k implies a 100% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,900

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• GRM: 7.8

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-10,561
• Equity at exit: $26,824

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $14,785
• Equity at exit: $15,554

Cash invested: $50,372 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,914 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$202 /mo · $2,427/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $292

Break-even live

Break-even rent $1,545

Max offer price $179,900

Occupancy floor 80%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-22
   status Pending
2. 2026-05-13
   listed $179,900 Active
3. 2016-05-23
   soldstatus $90,000
4. 2001-11-26
   soldstatus $47,500
5. 1998-10-01
   soldstatus $45,000
6. 1998-04-30
   soldstatus $41,500
7. 1995-02-20
   soldstatus $34,900
8. 1995-02-01
   soldstatus $57,000
9. 1978-12-01
   soldstatus $13,900

ⓘ 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: $2,427 · $202/mo
• Projected year-2 tax: $2,427 · $202/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 8/10 Severe 7 d/yr ≥107°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 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,971
• − Mortgage interest: −$10,077
• − Property taxes: −$2,427
• − Insurance: −$900
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$5,233
• Taxable income: $659
• Est. tax owed @ 24.0%: −$158
• After-tax cash flow: $3,342/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

• 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

+1194.2% since first listed

9 events — show timeline

• 2026-05-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-13 Listed $179,900 Stellar MLS as Distributed by MLS Grid
• 2016-05-23 Sold (Public Records) $90,000 Public Records
• 2001-11-26 Sold (Public Records) $47,500 Public Records
• 1998-10-01 Sold (Public Records) $45,000 Public Records
• 1998-04-30 Sold (Public Records) $41,500 Public Records
• 1995-02-20 Sold (Public Records) $34,900 Public Records
• 1995-02-01 Sold (Public Records) $57,000 Public Records
• 1978-12-01 Sold (Public Records) $13,900 Public Records

Property tax history

+3.9%/yr

Latest (2025): $2,427 · +14.9% YoY. Source: county tax records.