3401 Riderwood Dr · Ridge Manor, FL 33523

$160,000

2 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 506 Days on market

Built 1972 9,802 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 +18.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Schools +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

DADE CITY - RIVERDALE in Hernando County - This 3 bedroom 1 bathroom home on the Withalacoochee River has been recently renovated with interior paint, ceilings, kitchen cabinets, and water heater. 2 car attached garage with laundry, chain link fence for both front and back yard, screened lanai overlooking the river. Fish or launch your river canoe from your back yard. Little to no traffic on this dead end road.

Key facts

• 9,802 sq ft lot
• 2 garage spots
• Built 1972

Property features AI

Finance

• Other: Total living area reported as 1,088 (public records); Total building area reported as 1,798 (public records)
• Financial info: No lease restrictions; Homestead exemption indicated
• HOA & community: Not in a development; No HOA association reported

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Public water; Septic tank; Electricity available
• Home design: Single-family residence; One-story; North-facing entry
• Construction: Block construction; Shingle roof; Slab foundation; Built on a lot of about 0.22 acres
• Exterior features: Other exterior features; Paved road access

Interior

• Kitchen: No appliances listed
• Bedrooms: 2 bedrooms
• Flooring: Concrete
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: No notable interior amenities listed; Concrete flooring
• Laundry & utility: Laundry located in the garage

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-271 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (29.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (10.9% below list).
• Recommended offer: $112k (29.9% below list) — sets the bar for cash-flow.
• Cap rate 7.5% vs local median 4.3% in Ridge Manor — 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 63/100 on livability (#736 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, employment D, amenities F.
• Hernando (suburban): math 50% / reading 50% proficiency, ranked #38 of 73 in FL (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Eastside Elementary School (math 37% / reading 32%, grade F, #1,709 of 2,144 statewide, top 81%, 737 students, 73% FRL); D. S. Parrott Middle School (math 40% / reading 40%, grade F, #368 of 571 statewide, top 65%, 835 students, 67% FRL).
• Zoned-school proficiency averages 37% at this address vs 50% district-wide (-13 pts) — the specific schools serving this property underperform the Hernando average; the district grade overstates school quality for this exact location.
• Market conditions: 295 active listings in the ZIP; 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 506 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $112,082 (29.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 506 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 0.89% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.16%
• DSCR: 1.19
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $345,168
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3399 Riverdale Dr	0.16mi	2/1.0	1,150 (+6%)	13mo	$269,900	$235	72
33127 Hilda Rd	0.23mi	3/2.0 (+1)	1,208 (+11%)	3mo	$242,000	$200	59

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 2.56×
• Total profit: $70,065
• Equity at exit: $144,141

10-year hold

• IRR: 17.7%
• Equity multiple: 5.92×
• Total profit: $220,315
• Equity at exit: $310,845

Cash invested: $44,800 (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 33523

• Home prices YoY: 3.8%
• Active inventory: 295
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,426 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$65 /mo · $784/yr
• Insurance: −$67
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $-271

Break-even live

Break-even rent $1,769

Max offer price $112,082

Occupancy floor —

Sensitivity live

Price	-10% $-181	-5% $-226	+0% $-271	+5% $-317	+10% $-362
Rent	-10% $-384	-5% $-328	+0% $-271	+5% $-215	+10% $-159
Rate	-1.0pp $-191	-0.5pp $-231	base $-271	+0.5pp $-313	+1.0pp $-355

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $160,000 Active 506 DOM
2. 2026-06-18
   days on market $160,000 Active 503 DOM
3. 2026-06-17
   days on market $160,000 Active 502 DOM
4. 2026-06-16
   days on market $160,000 Active 501 DOM
5. 2026-06-15
   days on market $160,000 Active 500 DOM
6. 2026-06-13
   days on market $160,000 Active 498 DOM
7. 2026-06-13
   days on market $160,000 Active 497 DOM
8. 2026-06-09
   days on market $160,000 Active 494 DOM
9. 2026-06-08
   days on market $160,000 Active 493 DOM
10. 2026-06-07
    days on market $160,000 Active 492 DOM
11. 2026-06-04
    days on market $160,000 Active 489 DOM
12. 2026-06-03
    days on market $160,000 Active 488 DOM
13. 2026-06-02
    days on market $160,000 Active 487 DOM
14. 2026-06-01
    days on market $160,000 Active 486 DOM
15. 2026-05-31
    days on market $160,000 Active 485 DOM
16. 2025-01-31
    listed $160,000 Active
17. 2022-03-16
    soldstatus $199,900 Closed 414-char remark

    Show marketing remark (414 chars)

    DADE CITY - RIVERDALE in Hernando County - This 3 bedroom 1 bathroom home on the Withalacoochee River has been recently renovated with interior paint, ceilings, kitchen cabinets, and water heater. 2 car attached garage with laundry, chain link fence for both front and back yard, screened lanai overlooking the river. Fish or launch your river canoe from your back yard. Little to no traffic on this dead end road.

18. 2021-12-20
    status Pending 414-char remark

    Show marketing remark (414 chars)

    DADE CITY - RIVERDALE in Hernando County - This 3 bedroom 1 bathroom home on the Withalacoochee River has been recently renovated with interior paint, ceilings, kitchen cabinets, and water heater. 2 car attached garage with laundry, chain link fence for both front and back yard, screened lanai overlooking the river. Fish or launch your river canoe from your back yard. Little to no traffic on this dead end road.

19. 2021-12-10
    status Active 414-char remark

    Show marketing remark (414 chars)

    DADE CITY - RIVERDALE in Hernando County - This 3 bedroom 1 bathroom home on the Withalacoochee River has been recently renovated with interior paint, ceilings, kitchen cabinets, and water heater. 2 car attached garage with laundry, chain link fence for both front and back yard, screened lanai overlooking the river. Fish or launch your river canoe from your back yard. Little to no traffic on this dead end road.

20. 2021-12-04
    status Pending 414-char remark

    Show marketing remark (414 chars)

    DADE CITY - RIVERDALE in Hernando County - This 3 bedroom 1 bathroom home on the Withalacoochee River has been recently renovated with interior paint, ceilings, kitchen cabinets, and water heater. 2 car attached garage with laundry, chain link fence for both front and back yard, screened lanai overlooking the river. Fish or launch your river canoe from your back yard. Little to no traffic on this dead end road.

21. 2021-11-28
    status Active 414-char remark

    Show marketing remark (414 chars)

    DADE CITY - RIVERDALE in Hernando County - This 3 bedroom 1 bathroom home on the Withalacoochee River has been recently renovated with interior paint, ceilings, kitchen cabinets, and water heater. 2 car attached garage with laundry, chain link fence for both front and back yard, screened lanai overlooking the river. Fish or launch your river canoe from your back yard. Little to no traffic on this dead end road.

22. 2021-11-19
    status Pending 414-char remark

    Show marketing remark (414 chars)

    DADE CITY - RIVERDALE in Hernando County - This 3 bedroom 1 bathroom home on the Withalacoochee River has been recently renovated with interior paint, ceilings, kitchen cabinets, and water heater. 2 car attached garage with laundry, chain link fence for both front and back yard, screened lanai overlooking the river. Fish or launch your river canoe from your back yard. Little to no traffic on this dead end road.

23. 2021-11-14
    listed $199,900 Active 414-char remark

    Show marketing remark (414 chars)

    DADE CITY - RIVERDALE in Hernando County - This 3 bedroom 1 bathroom home on the Withalacoochee River has been recently renovated with interior paint, ceilings, kitchen cabinets, and water heater. 2 car attached garage with laundry, chain link fence for both front and back yard, screened lanai overlooking the river. Fish or launch your river canoe from your back yard. Little to no traffic on this dead end road.

24. 2018-03-13
    soldstatus $77,900
25. 2018-03-08
    soldstatus $77,900 224-char remark

    Show marketing remark (224 chars)

    Ready for anyone to make it their own! This 2/1/2 with over 1000 sq ft of living space is located right on the Withlacoochee River. Conveniently located in Dade City around all amenities and within minutes of the interstate.

26. 2018-03-08
    soldstatus $77,900

    Show marketing remark (224 chars)

    Ready for anyone to make it their own! This 2/1/2 with over 1000 sq ft of living space is located right on the Withlacoochee River. Conveniently located in Dade City around all amenities and within minutes of the interstate.

27. 2018-03-08
    soldstatus $77,900

    Show marketing remark (224 chars)

    Ready for anyone to make it their own! This 2/1/2 with over 1000 sq ft of living space is located right on the Withlacoochee River. Conveniently located in Dade City around all amenities and within minutes of the interstate.

28. 2017-11-08
    listed $74,900 224-char remark

    Show marketing remark (224 chars)

    Ready for anyone to make it their own! This 2/1/2 with over 1000 sq ft of living space is located right on the Withlacoochee River. Conveniently located in Dade City around all amenities and within minutes of the interstate.

29. 2017-11-08
    listed $74,900

    Show marketing remark (224 chars)

    Ready for anyone to make it their own! This 2/1/2 with over 1000 sq ft of living space is located right on the Withlacoochee River. Conveniently located in Dade City around all amenities and within minutes of the interstate.

30. 2017-11-08
    listed $74,900

    Show marketing remark (224 chars)

    Ready for anyone to make it their own! This 2/1/2 with over 1000 sq ft of living space is located right on the Withlacoochee River. Conveniently located in Dade City around all amenities and within minutes of the interstate.

31. 1996-07-11
    soldstatus $60,000
32. 1986-01-01
    soldstatus $44,500

ⓘ 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: $784 · $65/mo
• Projected year-2 tax: $1,328 · $111/mo
• Expected delta: +$544/yr (+$45/mo · 69.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,109
• − Mortgage interest: −$8,962
• − Property taxes: −$784
• − Insurance: −$5,918
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$4,655
• Taxable loss: −$5,948
• Est. tax savings @ 24.0%: +$1,428
• After-tax cash flow: $-1,828/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: Hernando
• NCES district ID: 1200810
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $41,985
• Composite: 42.03/100
• National rank: #3329
• State rank: #38 of 73 in FL

Livability — Ridge Manor

• Score: 63/100
• State rank: #736
• US rank: #15912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ridge Manor, FL
• Population (ZIP): 19,296

Population outlook (Hernando County) Hauer SSP2

• Today (2025): 189,218 people
• By 2030: 194,367 · +2.7%
• By 2040: 203,398 · +7.5%
• By 2050: 209,589 · +10.8%
• By 2075: 218,452 · +15.4%
• By 2100: 205,923 · +8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 57% Hispanic / Latino 28% Black 10% Two or more races 10% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 5% Slovak 1% Romanian 1%
• Foreign-born: 13% · Canada, China, Jamaica
• Languages at home: 75% English-only · Spanish 21% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Hernando

• 2024 margin: Solid R (+37.0) · D 31.1% · R 68.2%
• 2008→2024 swing: -33.5pp toward R · 2008: -3.6pp · 2024: -37.0pp
• All cycles: 2024: R+37.0 2020: R+30.2 2016: R+29.0 2012: R+8.5 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.36%
• Current HPI: 448.7
• 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

+259.6% since first listed

17 events — show timeline

• 2025-01-31 Listed $160,000 Stellar MLS as Distributed by MLS Grid
• 2022-03-16 Sold (MLS) $199,900 Stellar MLS as Distributed by MLS Grid
• 2021-12-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-12-10 Relisted — Stellar MLS as Distributed by MLS Grid
• 2021-12-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-11-28 Relisted — Stellar MLS as Distributed by MLS Grid
• 2021-11-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-11-14 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2018-03-13 Sold (Public Records) $77,900 Public Records
• 2018-03-08 Sold (MLS) $77,900 St. Augustine and St. Johns County Board of REALTORS®
• 2018-03-08 Sold (MLS) $77,900 Stellar MLS as Distributed by MLS Grid
• 2018-03-08 Sold (MLS) $77,900 HCAR
• 2017-11-08 Listed $74,900 St. Augustine and St. Johns County Board of REALTORS®
• 2017-11-08 Listed $74,900 Stellar MLS as Distributed by MLS Grid
• 2017-11-08 Listed $74,900 HCAR
• 1996-07-11 Sold (Public Records) $60,000 Public Records
• 1986-01-01 Sold (Public Records) $44,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $784 · -70.6% YoY. Source: county tax records.