825 N Griffith Ave · Homosassa Springs, FL 34429

$289,999

3 bd · 2.5 ba · 2,280 sqft · Manufactured public records · 9 Days on market

Built 1999 0.52 ac lot

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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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BANK FORECLOSURE. MAKE YOUR OFFER! Great fixer upper! Has LOTS of potential for the handy man in you. This home has four bedrooms plus an office room and a sitting room in the master bedroom for a total of 2280 sq. ft. of living! Fans in most rooms. Pour some love into this one!!!!

Key facts

• Dedicated rv hookup
• Upgraded kitchen
• Stone fireplace

Tags

• STONE FIREPLACE
• UPGRADED KITCHEN
• PRIVATE BACKYARD OASIS
• PROFESSIONALLY INSTALLED POOL
• FULLY FENCED YARD
• DEDICATED RV HOOKUP

Property features AI

Finance

• Other: Homestead exempt; Lot size approximately 0.52 acre (126 x 179); One well and one septic on property; Living area approx. 2,280 sq ft; No lease restrictions noted

Exterior

• Parking: Attached garage (1 car); Carport (2 spaces)
• Utilities: Well water; Septic tank; Broadband/high-speed internet available; Cable available; Electricity connected
• Home design: Manufactured double-wide home; One story; Faces west; Residential property
• Construction: Vinyl siding; Shingle roof; Block foundation; Built as a manufactured home
• Exterior features: Private mailbox; Rain gutters; Storage shed(s); Above-ground pool with deck; Oversized, private lot with pasture; Paved road access

Interior

• Kitchen: Dishwasher; Range
• Bedrooms: 5 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Thermostat; Wood-burning fireplace
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $290k.

Deal economics

• At list price, monthly cash flow is $41 ($497/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (22.4% below list).
• Recommended offer: $225k (22.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#391 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime 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: Rock Crusher Elementary School (math 70% / reading 56%, grade B, #582 of 2,144 statewide, top 28%, 665 students, 68% FRL); Crystal River Middle School (math 49% / reading 47%, grade C-, #286 of 571 statewide, top 50%, 900 students, 64% FRL); Crystal River High School (math 31% / reading 44%, grade F, #336 of 667 statewide, top 51%, 1,249 students, 56% FRL).
• Market conditions: 327 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $9k 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.
• 2 sale attempts since 17y 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.
• Current owner paid $128k; list at $290k implies a 127% 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; moderate 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 $225,000 (22.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 0.78% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.61%
• DSCR: 1.03
• GRM: 10.7

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: -15.4%
• Equity multiple: 0.45×
• Total profit: $-44,486
• Equity at exit: $43,240

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-35,874
• Equity at exit: $25,074

Cash invested: $81,200 (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 34429

• Home prices YoY: -17.8%
• Active inventory: 327
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$94 /mo · $1,134/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $41

Break-even live

Break-even rent $2,198

Max offer price $289,999

Occupancy floor 93%

Sensitivity live

Price	-10% $206	-5% $123	+0% $41	+5% $-41	+10% $-123
Rent	-10% $-136	-5% $-47	+0% $41	+5% $130	+10% $219
Rate	-1.0pp $187	-0.5pp $115	base $41	+0.5pp $-34	+1.0pp $-110

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6384 W Flanders Ln Crystal River, FL	3.0	2.0	1800	$2,250	$1.25	23d	1	0.40mi

Listing history 9 events

1. 2026-06-21
   days on market $289,999 Active 9 DOM
2. 2026-06-19
   days on market $289,999 Active 7 DOM
3. 2026-06-18
   days on market $289,999 Active 6 DOM
4. 2026-06-18
   price $289,999 Active 5 DOM
5. 2026-06-17
   days on market $299,999 Active 5 DOM
6. 2026-06-16
   days on market $299,999 Active 4 DOM
7. 2026-06-15
   days on market $299,999 Active 3 DOM
8. 2026-06-13
   remarks 693-char remark
9. 2026-06-13
   listed $299,999 Active 1 DOM

ⓘ 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: $1,134 · $94/mo
• Projected year-2 tax: $2,407 · $201/mo
• Expected delta: +$1,273/yr (+$106/mo · 112.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 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: $27,000
• − Mortgage interest: −$16,244
• − Property taxes: −$1,134
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − Depreciation: −$8,436
• Taxable loss: −$4,585
• Est. tax savings @ 24.0%: +$1,100
• After-tax cash flow: $1,597/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 — Homosassa Springs

• Score: 71/100
• State rank: #391
• US rank: #6877

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,494

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 (88%)
• Race & ethnicity: White 88% Black 5% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -58.92%
• Current HPI: 271.3171
• 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

+1104.8% since first listed

7 events — show timeline

• 2026-06-12 Listed $299,999 Stellar MLS as Distributed by MLS Grid
• 2020-09-24 Sold (Public Records) $128,000 Public Records
• 2010-01-15 Sold (MLS) $32,500 RACC
• 2009-01-01 Listed $39,500 RACC
• 2008-06-30 Sold (Public Records) $75,700 Public Records
• 1999-11-09 Sold (Public Records) $14,000 Public Records
• 1983-08-01 Sold (Public Records) $24,900 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,134 · +7.9% YoY. Source: county tax records.