63 Douglas St · Sugarmill Woods, FL 34446

$179,000

2 bd · 2.0 ba · 1,097 sqft · Condo public records · 1 Days on market

Built 1983 $250/mo HOA · 14% 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 +12.1/30.0
• ARV discount +7.5/15.0
• 1% rule +4.8/10.0
• Schools +4.1/10.0
• DSCR +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Discover Your Dream Condo in Cypress Village! * * Welcome to 63 Douglas St Unit 11, a stunning condo in a 55+ Community, nestled in the vibrant heart of Cypress Village. This beautifully maintained 2-bedroom, 2-bathroom residence is perfectly situated off the picturesque Third Fairway 1 of the Cypress Village Golf and Country Club within the esteemed Sugarmill Woods subdivision of Homosassa. Step inside this inviting home where modern elegance meets comfort. You'll immediately notice the gleaming hardwood floors that flow seamlessly through the common areas, creating an open and airy atmosphere. The well-appointed kitchen features stylish tile flooring, making it both functional and

Key facts

• Vinyl windows
• Tile flooring
• Spacious lanai

Tags

• HARDWOOD FLOORS
• TILE FLOORING
• SPACIOUS LANAI
• VINYL WINDOWS
• ENERGY-EFFICIENT WINDOWS
• COUNTRY CLUB AMENITIES

Property features AI

Finance

• Other: Directions: Heading south on S Suncoast Blvd, left on Cypress Blvd W, left on Douglas St — condo on left
• HOA & community: Homeowners association with $250 monthly fee; HOA covers grounds and structure maintenance, pest control, and trash; Community amenities: clubhouse, golf, restaurant, street lights, fitness center

Exterior

• Parking: Attached garage with 1 garage space; Driveway; Concrete surfaces; Garage door opener
• Utilities: Public water; Public sewer
• Home design: Residential condominium; One level; Wooded lot; Paved road access; Subdivision: Sugarmill Woods - Cypress Village
• Construction: Stucco construction; Asphalt shingle roof; Block foundation; Built-in 1457 sq ft
• Exterior features: Exterior lighting; Rain gutters; Sliding door(s); Community pool

Interior

• Kitchen: Dishwasher; Electric oven; Microwave; Refrigerator; Range hood
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Pantry; Walk-in closets; Blinds and window coverings; Window treatments
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $-38 ($-457/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (2.0% below list).
• Recommended offer: $172k (3.8% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 4.0% in Sugarmill Woods — 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 59/100 on livability (#825 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; 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: Lecanto Primary School (math 55% / reading 53%, grade C, #936 of 2,144 statewide, top 44%, 820 students, 63% 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 54% FRL track the district average.
• Market conditions: 586 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $140k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,272 (3.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.91%
• DSCR: 0.96
• GRM: 8.5

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: -17.7%
• Equity multiple: 0.38×
• Total profit: $-31,290
• Equity at exit: $26,689

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-29,796
• 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 34446

• Home prices YoY: -10.4%
• Active inventory: 586
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,754 high
• Mortgage (P&I): −$939
• Tax from tax record: −$161 /mo · $1,928/yr
• Insurance: −$75
• HOA: −$250
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $-38

Break-even live

Break-even rent $1,802

Max offer price $172,272

Occupancy floor 97%

Sensitivity live

Price	-10% $63	-5% $13	+0% $-38	+5% $-89	+10% $-139
Rent	-10% $-177	-5% $-107	+0% $-38	+5% $31	+10% $101
Rate	-1.0pp $52	-0.5pp $7	base $-38	+0.5pp $-84	+1.0pp $-132

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: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 Dogwood Dr Homosassa, FL	2.0	2.0	1492	$2,200	$1.47	22d	1	0.31mi
17 Dogwood Dr Homosassa, FL	2.0	2.0	1400	$1,600	$1.14	22d	1	0.33mi
17 Jamaica St Homosassa, FL	2.0	2.0	1100	$1,500	$1.36	22d	1	0.49mi
5 Jamaica St Homosassa, FL	2.0	2.0	1353	$1,500	$1.11	22d	1	0.52mi
5 Black Cherry Dr Homosassa, FL	2.0	2.0	1140	$1,600	$1.40	22d	1	0.56mi
57 Chinaberry Cir Homosassa, FL	2.0	2.0	1132	$1,575	$1.39	22d	1	0.57mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-05-25
   listed $179,000 Active
2. 2022-10-28
   soldstatus $140,000
3. 2006-08-18
   soldstatus $122,000
4. 1990-07-01
   soldstatus $51,600
5. 1983-12-01
   soldstatus $81,988

ⓘ 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: $1,928 · $161/mo
• Projected year-2 tax: $1,928 · $161/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 26 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: $21,051
• − Mortgage interest: −$10,027
• − Property taxes: −$1,928
• − Insurance: −$895
• − Repairs & maintenance: −$1,684
• − Management: −$1,684
• − HOA: −$3,000
• − Depreciation: −$5,207
• Taxable loss: −$3,374
• Est. tax savings @ 24.0%: +$810
• After-tax cash flow: $353/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 — Sugarmill Woods

• Score: 59/100
• State rank: #825
• US rank: #20184

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sugarmill Woods, FL
• County: Citrus County · 111,314 people
• City population: 18,797
• Metro: Homosassa Springs, FL
• Population (ZIP): 19,102
• Household income: $58,802
• Rent vs Own: 6.9% rent · 93.1% own
• Severe rent burden: 121.0

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% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -32.11%
• Current HPI: 277.2576
• 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

+118.3% since first listed

5 events — show timeline

• 2026-05-25 Listed $179,000 RACC
• 2022-10-28 Sold (Public Records) $140,000 Public Records
• 2006-08-18 Sold (Public Records) $122,000 Public Records
• 1990-07-01 Sold (Public Records) $51,600 Public Records
• 1983-12-01 Sold (Public Records) $81,988 Public Records

Property tax history

+6.9%/yr

Latest (2025): $1,928 · +2.4% YoY. Source: county tax records.