8013 Picketts Ct #1 · North Weeki Wachee, FL 34613

$110,000

1 bd · 1.5 ba · 707 sqft · Condo · 257 Days on market

Built 1987 $337/mo HOA · 25% of rent ↓ 8% since listing

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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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +4.2/10.0
• DSCR +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

HIDDEN GEM ! AMAZING PRICE !!! SELLER MOTIVATED !!! Welcome to The Greens at The Heathers—a community known for its peace and prime location! This 1-bedroom, 1.5-bath condominium offers a spacious layout that feels bright and open, making it easy to call home. The unit includes a full laundry area inside and comes complete with all appliances, providing move-in convenience. Situated just minutes from US-19 and the Suncoast Parkway, you’ll have quick access to shopping, dining, healthcare, and local attractions such as Weeki Wachee Springs and Pine Island. Don’t miss the opportunity to enjoy the quiet lifestyle of The Greens while being close to everything you need.

Key facts

• Nearby amenities
• Full laundry area
• All appliances

Tags

• FULL LAUNDRY AREA
• ALL APPLIANCES
• NEARBY AMENITIES
• QUICK ACCESS TO SHOPPING
• QUICK ACCESS TO DINING
• QUICK ACCESS TO HEALTHCARE

Property features AI

Finance

• Other: Property is homesteaded; Property type: Residential condominium; Zoning: PDP - RES
• Financial info: Total monthly fees listed as $337; Total annual fees listed as $4,044; Lease restrictions apply
• HOA & community: Monthly association fees: $24 and $313 (two fee entries listed); HOA required with approval required; Association covers cable TV, insurance, and internet; Community clubhouse and pool; Community mailbox; Pets allowed with breed restrictions

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Sewer connected
• Home design: Condominium; Single-story unit (floor 1); Faces south
• Construction: Block construction; Shingle roof; Built on slab foundation
• Exterior features: Exterior lighting; Asphalt road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Vinyl; Slab foundation
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $-34 ($-407/yr) — negative.
• To cash-flow at today's rent, offer at most $105k (4.5% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 3.9% in North Weeki Wachee — 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 68/100 on livability (#534 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, amenities F, commute 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: Winding Waters K-8 (math 50% / reading 48%, grade D, #1,134 of 2,144 statewide, top 54%, 1,622 students, 56% FRL); Weeki Wachee High School (math 41% / reading 42%, grade F, #284 of 667 statewide, top 43%, 1,435 students, 52% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 695 active listings in the ZIP; 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 257 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,800 (12.0% 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 257 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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?
9. 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.
10. 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.
11. 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: 1.22% ✓
• Cap rate: 5.92%
• Cash-on-cash: -1.32%
• DSCR: 0.94
• GRM: 6.8

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: -18.2%
• Equity multiple: 0.36×
• Total profit: $-19,758
• Equity at exit: $16,401

10-year hold

• IRR: -10.0%
• Equity multiple: 0.38×
• Total profit: $-19,063
• Equity at exit: $9,511

Cash invested: $30,800 (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 34613

• Home prices YoY: -17.2%
• Active inventory: 695
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,346 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$337
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $-34

Break-even live

Break-even rent $1,389

Max offer price $105,091

Occupancy floor 98%

Sensitivity live

Price	-10% $42	-5% $4	+0% $-34	+5% $-72	+10% $-110
Rent	-10% $-140	-5% $-87	+0% $-34	+5% $19	+10% $72
Rate	-1.0pp $21	-0.5pp $-6	base $-34	+0.5pp $-62	+1.0pp $-91

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $337 · $4,044/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $110,000 Active 257 DOM
2. 2026-06-18
   days on market $110,000 Active 254 DOM
3. 2026-06-17
   days on market $110,000 Active 253 DOM
4. 2026-06-16
   days on market $110,000 Active 252 DOM
5. 2026-06-15
   days on market $110,000 Active 251 DOM
6. 2026-06-13
   days on market $110,000 Active 249 DOM
7. 2026-06-13
   days on market $110,000 Active 248 DOM
8. 2026-06-09
   days on market $110,000 Active 245 DOM
9. 2026-06-08
   days on market $110,000 Active 244 DOM
10. 2026-06-07
    days on market $110,000 Active 243 DOM
11. 2026-06-04
    days on market $110,000 Active 240 DOM
12. 2026-06-03
    days on market $110,000 Active 239 DOM
13. 2026-06-02
    days on market $110,000 Active 238 DOM
14. 2026-06-01
    days on market $110,000 Active 237 DOM
15. 2026-05-31
    days on market $110,000 Active 236 DOM
16. 2026-05-01
    price $110,000
17. 2026-03-20
    status Active
18. 2026-03-07
    historical
19. 2025-12-15
    price $118,000
20. 2025-09-24
    listed $120,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,151
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,292
• − Management: −$1,292
• − HOA: −$4,044
• − Depreciation: −$3,200
• Taxable loss: −$2,039
• Est. tax savings @ 24.0%: +$489
• After-tax cash flow: $82/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 — North Weeki Wachee

• Score: 68/100
• State rank: #534
• US rank: #10019

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Weeki Wachee, FL
• County: Hernando County · 169,677 people
• City population: 18,280
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 19,337
• Household income: $58,596
• Rent vs Own: 9.2% rent · 90.8% own
• Severe rent burden: 307.0

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: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 3% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -57.51%
• Current HPI: 276.2229
• Rent YoY: —
• Metro: Tampa-St. Petersburg-Clearwater, 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

-8.3% since first listed

5 events — show timeline

• 2026-05-01 Price Changed $110,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-12-15 Price Changed $118,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-24 Listed $120,000 Stellar MLS as Distributed by MLS Grid