404 S Adams St · Beverly Hills, FL 34465

$185,000

2 bd · 1.5 ba · 1,164 sqft · SingleFamily public records · 57 Days on market

Built 1980 10,522 sqft lot Est $192k · at est.

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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 +18.2/30.0
• ARV discount +9.2/15.0
• DSCR +5.7/10.0
• Schools +4.1/10.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Darling home that has been updated and modernized in past few years. Luxury Vinyl Plank floors in most of home & looks awesome. Nice blinds on abundance of windows . Appears to be newer appliances in kitchen with long wall of cabinets/pantry. Eat in area off kitchen. Opens into Laundry room w/ washer & dryer, plus private half bath w/ pocket doors. Single garage w/ extra cabinets & shelves. Side exit door & garage opener (AS IS) Dining area opens to LR , KIT & FR. FR opens to very nice deck for Sunshine & Fresh air with Storm door. Roof in 2011. Home is vacant and on Supra Lockbox . Attached shed in back is unlocked, so don't lock! Very nice neighborhood. Close to everything and gently loved. Deck has storage under it. Nice ramp from back deck. Fenced back yard.

Key facts

• Private half bath
• Eat in area
• Newer appliances

Tags

• LUXURY VINYL PLANK FLOORS
• NEWER APPLIANCES
• LONG WALL OF CABINETS
• EAT IN AREA
• PRIVATE HALF BATH
• SINGLE GARAGE

Property features AI

Finance

• Other: Homestead exempt; Zoned PDR; Unfurnished
• Financial info: No lease restrictions indicated
• HOA & community: No HOA association indicated; No association approval required

Exterior

• Parking: Attached garage (1 car); Garage dimensions approximately 14 x 22
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single-family residence; Completed condition; One story; Faces north
• Construction: Block, concrete and stucco construction; Shingle roof; Slab foundation; Built as a residential single-family home
• Exterior features: Rear porch; Private mailbox; Exterior storage; Cleared lot; Trees and landscaped yard; Asphalt road access; Lot dimensions approximately 83 x 120

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room/dining room combo; Solid surface counters; 11 total rooms
• Laundry & utility: Washer; Dryer; Laundry located inside

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/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 $159k (14.0% below list).
• Recommended offer: $159k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 5.8% in Beverly Hills — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 64/100 on livability (#666 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment 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: Forest Ridge Elementary School (math 55% / reading 59%, grade C+, #781 of 2,144 statewide, top 38%, 708 students, 67% FRL); Lecanto High School (math 46% / reading 53%, grade D, #179 of 667 statewide, top 29%, 1,630 students, 46% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 396 active listings in the ZIP; 13 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 35% of the median local income ($55k/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 $6k 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

• It's been on market 57 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; 42% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,158 (14.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.86% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.87%
• DSCR: 1.17
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $192,060
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 S Adams St	0.05mi	3/1.5 (+1)	1,208 (+4%)	1mo	$209,000	$173	86
509 S Monroe St	0.23mi	2/2.0	1,233 (+6%)	1mo	$245,000	$199	77
15 Pennsylvania St	0.30mi	2/1.5	1,226 (+5%)	4mo	$165,000	$135	74
514 S Jackson St	0.28mi	2/1.0	1,084 (-7%)	1mo	$120,000	$111	73
28 New York Blvd	0.11mi	2/1.5	1,050 (-10%)	7mo	$173,000	$165	73
7 S J Kellner Blvd	0.16mi	2/2.0	992 (-15%)	1mo	$167,000	$168	65
45 SJ Kellner Blvd	0.52mi	2/1.5	1,226 (+5%)	3mo	$115,000	$94	64
524 S Jefferson St	0.32mi	2/1.5	996 (-14%)	3mo	$203,000	$204	58
208 S Adams St	0.55mi	2/1.5	1,280 (+10%)	0mo	$209,000	$163	58
209 S Barbour St	0.55mi	2/2.0	1,307 (+12%)	1mo	$240,000	$184	51
55 S J Kellner Blvd	0.59mi	3/2.0 (+1)	1,320 (+13%)	1mo	$206,500	$156	42
27 Regina Blvd	0.64mi	1/1.0 (-1)	1,001 (-14%)	6mo	$149,000	$149	35

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: -10.3%
• Equity multiple: 0.63×
• Total profit: $-19,419
• Equity at exit: $27,584

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-3,568
• Equity at exit: $15,995

Cash invested: $51,800 (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 34465

• Home prices YoY: -33.1%
• Active inventory: 396
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,592 high
• Mortgage (P&I): −$970
• Tax from tax record: −$43 /mo · $515/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $167

Break-even live

Break-even rent $1,380

Max offer price $185,000

Occupancy floor 84%

Sensitivity live

Price	-10% $272	-5% $220	+0% $167	+5% $115	+10% $62
Rent	-10% $41	-5% $104	+0% $167	+5% $230	+10% $293
Rate	-1.0pp $260	-0.5pp $214	base $167	+0.5pp $119	+1.0pp $71

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 Montana St Beverly Hills, FL	2.0	1.0	1088	$1,700	$1.56	22d	1	0.21mi
95 S Fillmore St Beverly Hills, FL	2.0	1.0	1056	$1,300	$1.23	22d	1	0.82mi
95 S Desoto St Beverly Hills, FL	2.0	2.0	1152	$1,435	$1.25	22d	1	0.95mi
5 New North Ct Beverly Hills, FL	1.0	1.0	864	$1,100	$1.27	22d	1	0.99mi
2131 N Pinecone Ave Lecanto, FL	2.0	2.0	1438	$2,000	$1.39	22d	1	1.02mi
1610 W Spring Meadow Loop Lecanto, FL	2.0	2.5	1359	$2,700	$1.99	22d	1	1.12mi
45 S Jackson St Beverly Hills, FL	2.0	1.0	1108	$1,275	$1.15	22d	1	1.13mi
1658 W Spring Meadow Loop Lecanto, FL	2.0	2.5	1359	$1,775	$1.31	22d	1	1.15mi
41 S Monroe St Beverly Hills, FL	2.0	1.0	932	$1,300	$1.39	22d	1	1.15mi
3263 N Maidencane Dr Beverly Hills, FL	2.0	1.0	1380	$1,350	$0.98	22d	1	1.21mi
31 S Barbour St Beverly Hills, FL	2.0	1.0	1027	$1,525	$1.48	22d	1	1.23mi
13 S Washington St Beverly Hills, FL	3.0	1.0	1062	$1,350	$1.27	22d	1	1.36mi
11 S Barbour St Beverly Hills, FL	2.0	1.0	808	$1,349	$1.67	22d	1	1.37mi

Listing history 9 events

1. 2026-05-13
   price $185,000 809-char remark

   Show marketing remark (809 chars)

   Darling home that has been updated and modernized in past few years. Luxury Vinyl Plank floors in most of home & looks awesome. Nice blinds on abundance of windows . Appears to be newer appliances in kitchen with long wall of cabinets/pantry. Eat in area off kitchen. Opens into Laundry room w/ washer & dryer, plus private half bath w/ pocket doors. Single garage w/ extra cabinets & shelves. Side exit door & garage opener (AS IS) Dining area opens to LR , KIT & FR. FR opens to very nice deck for Sunshine & Fresh air with Storm door. Roof in 2011. Home is vacant and on Supra Lockbox . Attached shed in back is unlocked, so don't lock! Very nice neighborhood. Close to everything and gently loved. Deck has storage under it. Nice ramp from back deck. Fenced back yard.

2. 2026-05-13
   price $185,000

   Show marketing remark (809 chars)

   Darling home that has been updated and modernized in past few years. Luxury Vinyl Plank floors in most of home & looks awesome. Nice blinds on abundance of windows . Appears to be newer appliances in kitchen with long wall of cabinets/pantry. Eat in area off kitchen. Opens into Laundry room w/ washer & dryer, plus private half bath w/ pocket doors. Single garage w/ extra cabinets & shelves. Side exit door & garage opener (AS IS) Dining area opens to LR , KIT & FR. FR opens to very nice deck for Sunshine & Fresh air with Storm door. Roof in 2011. Home is vacant and on Supra Lockbox . Attached shed in back is unlocked, so don't lock! Very nice neighborhood. Close to everything and gently loved. Deck has storage under it. Nice ramp from back deck. Fenced back yard.

3. 2026-03-30
   listed $195,000 Active
4. 2026-03-27
   listed $195,000 Active 809-char remark

   Show marketing remark (809 chars)

   Darling home that has been updated and modernized in past few years. Luxury Vinyl Plank floors in most of home & looks awesome. Nice blinds on abundance of windows . Appears to be newer appliances in kitchen with long wall of cabinets/pantry. Eat in area off kitchen. Opens into Laundry room w/ washer & dryer, plus private half bath w/ pocket doors. Single garage w/ extra cabinets & shelves. Side exit door & garage opener (AS IS) Dining area opens to LR , KIT & FR. FR opens to very nice deck for Sunshine & Fresh air with Storm door. Roof in 2011. Home is vacant and on Supra Lockbox . Attached shed in back is unlocked, so don't lock! Very nice neighborhood. Close to everything and gently loved. Deck has storage under it. Nice ramp from back deck. Fenced back yard.

5. 2021-10-06
   soldstatus $130,000
6. 2013-02-04
   soldstatus $45,000
7. 2013-02-01
   soldstatus $45,000 200-char remark

   Show marketing remark (200 chars)

   Well maintained two bedroom two bath home with comfortable size living room and family room. This home has been well maintained with new roof in 2011, AC 2005 and new windows. Furniture is negotiable.

8. 2013-01-15
   listed $49,900 200-char remark

   Show marketing remark (200 chars)

   Well maintained two bedroom two bath home with comfortable size living room and family room. This home has been well maintained with new roof in 2011, AC 2005 and new windows. Furniture is negotiable.

9. 1980-08-01
   soldstatus $46,000

ⓘ 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: $515 · $43/mo
• Projected year-2 tax: $1,536 · $128/mo
• Expected delta: +$1,021/yr (+$85/mo · 198.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 25 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: $19,099
• − Mortgage interest: −$10,363
• − Property taxes: −$515
• − Insurance: −$925
• − Repairs & maintenance: −$1,528
• − Management: −$1,528
• − Depreciation: −$5,382
• Taxable loss: −$1,141
• Est. tax savings @ 24.0%: +$274
• After-tax cash flow: $2,281/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 — Beverly Hills

• Score: 64/100
• State rank: #666
• US rank: #13671

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Beverly Hills, FL
• County: Citrus County · 111,314 people
• City population: 18,879
• Metro: Homosassa Springs, FL
• Population (ZIP): 18,879
• Household income: $54,869
• Rent vs Own: 18.4% rent · 81.6% own
• Severe rent burden: 334.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Black 4% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Vietnam, Dominican Republic
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -138.62%
• Current HPI: 279.7183
• 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

+302.2% since first listed

9 events — show timeline

• 2026-05-13 Price Changed $185,000 RACC
• 2026-05-13 Price Changed $185,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-30 Listed $195,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-27 Listed $195,000 RACC
• 2021-10-06 Sold (Public Records) $130,000 Public Records
• 2013-02-04 Sold (Public Records) $45,000 Public Records
• 2013-02-01 Sold (MLS) $45,000 RACC
• 2013-01-15 Listed $49,900 RACC
• 1980-08-01 Sold (Public Records) $46,000 Public Records

Property tax history

-3.2%/yr

Latest (2025): $515 · +12.1% YoY. Source: county tax records.