8122 N Princess Ave · Pine Ridge, FL 34433

$129,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 71 Days on market

Built 1989 0.51 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.8/10.0

Listing remarks MLS

GREAT 2 BEDROOM, 2 BATHROOM HOME IN DUNNELLON!! Conveniently located on a HALF ACRE LOT close to shopping and highway access. This MOVE IN READY HOME features a metal rood, vaulted ceilings, open layout, new stainless steel appliances, and a storage/utility shed! This is NOT a short sale or a bank owned property. This is a GREAT HOME that is PRICED TO SELL! Come see it TODAY!!

Key facts

• Natural attractions
• Serene retreat
• 0.51 acre lot

Tags

• SPACIOUS LIVING AREAS
• WELL-EQUIPPED KITCHEN
• AMPLE SPACE FOR GARDENING
• NATURAL ATTRACTIONS
• SERENE RETREAT

Property features AI

Finance

• Other: Zoning: RURMH

Exterior

• Parking: Unpaved parking
• Utilities: Private well water; Septic tank
• Home design: Manufactured home (single wide); Residential property
• Construction: Metal roof; Aluminum siding; Wood siding; Approximately 960 square feet
• Exterior features: Level lot; Unimproved road frontage and surface

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 7 total rooms (includes bedrooms and other living spaces)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: Microwave; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $121k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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: Crystal River Primary School (math 45% / reading 55%, grade D+, #1,070 of 2,144 statewide, top 51%, 654 students, 70% FRL); Citrus Springs Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 821 students, 59% FRL); Crystal River High School (math 31% / reading 44%, grade F, #336 of 667 statewide, top 51%, 1,249 students, 56% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 642 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 $892 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $129k implies a 187% 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; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.29% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.41%
• DSCR: 1.73
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $45,120
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7965 W Badger Ln	0.11mi	2/2.0	960 (0%)	13mo	$45,000	$47	84

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: 7.5%
• Equity multiple: 1.29×
• Total profit: $10,537
• Equity at exit: $19,234

10-year hold

• IRR: 16.7%
• Equity multiple: 2.37×
• Total profit: $49,613
• Equity at exit: $11,154

Cash invested: $36,120 (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 34433

• Home prices YoY: -1.8%
• Active inventory: 642
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,668 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$93 /mo · $1,121/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $494

Break-even live

Break-even rent $1,043

Max offer price $129,000

Occupancy floor 65%

Sensitivity live

Price	-10% $567	-5% $530	+0% $494	+5% $457	+10% $421
Rent	-10% $362	-5% $428	+0% $494	+5% $560	+10% $626
Rate	-1.0pp $559	-0.5pp $527	base $494	+0.5pp $460	+1.0pp $426

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $129,000 Active 71 DOM
2. 2026-06-18
   days on market $129,000 Active 70 DOM
3. 2026-06-17
   days on market $129,000 Active 69 DOM
4. 2026-06-16
   days on market $129,000 Active 68 DOM
5. 2026-06-15
   days on market $129,000 Active 67 DOM
6. 2026-06-14
   days on market $129,000 Active 65 DOM
7. 2026-06-13
   days on market $129,000 Active 64 DOM
8. 2026-06-09
   days on market $129,000 Active 61 DOM
9. 2026-06-08
   days on market $129,000 Active 60 DOM
10. 2026-06-07
    days on market $129,000 Active 59 DOM
11. 2026-06-03
    days on market $129,000 Active 55 DOM
12. 2026-06-02
    days on market $129,000 Active 54 DOM
13. 2026-06-01
    days on market $129,000 Active 53 DOM
14. 2026-05-31
    days on market $129,000 Active 52 DOM
15. 2026-05-30
    days on market $129,000 Active 51 DOM
16. 2026-05-21
    price $129,000
17. 2026-04-09
    listed $139,000 Active
18. 2026-01-09
    soldstatus $45,000
19. 2025-12-12
    historical
20. 2025-12-04
    price $68,990
21. 2025-11-24
    status Active
22. 2025-11-21
    historical
23. 2025-11-04
    listed $69,990 Active
24. 2018-12-20
    soldstatus $42,500 379-char remark

    Show marketing remark (379 chars)

    GREAT 2 BEDROOM, 2 BATHROOM HOME IN DUNNELLON!! Conveniently located on a HALF ACRE LOT close to shopping and highway access. This MOVE IN READY HOME features a metal rood, vaulted ceilings, open layout, new stainless steel appliances, and a storage/utility shed! This is NOT a short sale or a bank owned property. This is a GREAT HOME that is PRICED TO SELL! Come see it TODAY!!

25. 2018-10-30
    listed $44,900 379-char remark

    Show marketing remark (379 chars)

    GREAT 2 BEDROOM, 2 BATHROOM HOME IN DUNNELLON!! Conveniently located on a HALF ACRE LOT close to shopping and highway access. This MOVE IN READY HOME features a metal rood, vaulted ceilings, open layout, new stainless steel appliances, and a storage/utility shed! This is NOT a short sale or a bank owned property. This is a GREAT HOME that is PRICED TO SELL! Come see it TODAY!!

26. 2005-11-17
    soldstatus $62,000
27. 2005-07-15
    soldstatus $39,000
28. 1993-06-01
    soldstatus $25,500
29. 1993-06-01
    soldstatus $25,500

ⓘ 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: $1,121 · $93/mo
• Projected year-2 tax: $1,121 · $93/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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,013
• − Mortgage interest: −$7,226
• − Property taxes: −$1,121
• − Insurance: −$645
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − Depreciation: −$3,753
• Taxable income: $4,067
• Est. tax owed @ 24.0%: −$976
• After-tax cash flow: $4,951/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

• City population: 18,514
• Population (ZIP): 8,218

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 13%
• Hispanic origin (detail): Puerto Rican 6% Cuban 1%
• Common ancestry: Italian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 90% English-only · Spanish 9% Other Indo-European 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: ▼ -6.35%
• Current HPI: 340.9844
• 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

+405.9% since first listed

14 events — show timeline

• 2026-05-21 Price Changed $129,000 RACC
• 2026-04-09 Listed $139,000 RACC
• 2026-01-09 Sold (Public Records) $45,000 Public Records
• 2025-12-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-12-04 Price Changed $68,990 Stellar MLS as Distributed by MLS Grid
• 2025-11-24 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-11-21 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-04 Listed $69,990 Stellar MLS as Distributed by MLS Grid
• 2018-12-20 Sold (MLS) $42,500 RACC
• 2018-10-30 Listed $44,900 RACC
• 2005-11-17 Sold (Public Records) $62,000 Public Records
• 2005-07-15 Sold (Public Records) $39,000 Public Records
• 1993-06-01 Sold (Public Records) $25,500 Public Records
• 1993-06-01 Sold (Public Records) $25,500 Public Records

Property tax history

+8.7%/yr

Latest (2025): $1,121 · +7.6% YoY. Source: county tax records.