925 N Rembrandt Way · Hernando, FL 34453

$154,250

3 bd · 2.0 ba · 1,241 sqft · Condo public records · 7 Days on market

Built 2005 $345/mo HOA · 18% 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 +16.4/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• DSCR +5.1/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Town home with 3 bedrooms in Lakeside Golf, Ranch & Restaurant in between Inverness and Hernando. Living/dining room & kitchen are connected by a pass-through; newer appliances. Master bedroom with sliders to the back porch, bathroom with shower & dual sinks and walk-in closet. All on the main floor. Smaller laundry area for a stackable washer & dryer or a washer/dryer unit. Upstairs are two bedrooms and one bathroom. One bedroom has a balcony. Decent size house. Tile floors in the living/dining/kitchen and bathrooms. Carpets in the bedrooms. Master has new carpet. HOA, septic system & 2 parking spaces. A smaller storage closet on the back porch. Convenient located to Independence, Hwy 44 and 41 toward Inverness, Hernando, Dunnellon and Ocala. Vritual maintenance free. Balconies recently redone and buildings painted in 2017.

Key facts

• Private balcony
• Peaceful community
• Covered patio

Tags

• PEACEFUL COMMUNITY
• MATURE TREES
• COVERED PATIO
• PRIVATE BALCONY
• LUXURY VINYL FLOORING
• ASSIGNED PARKING

Property features AI

Finance

• Other: Subdivision: Lakeside Town Homes
• HOA & community: Homeowners association with a $345 monthly fee; HOA includes insurance, grounds maintenance, structure maintenance, and trash

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer
• Home design: Residential condominium
• Construction: Stucco exterior; Block foundation; Asphalt shingle roof; Built area approximately 1437
• Exterior features: Wooded lot; Paved road access

Interior

• Kitchen: Oven; Range; Refrigerator; Range hood
• Bedrooms: 4 total rooms (includes bedrooms and living spaces)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Tile flooring; Range hood
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $154k.

Deal economics

• At list price, monthly cash flow is $87 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Cap rate 7.0% vs local median 5.6% in Hernando — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 71/100 on livability (#402 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 D-.
• 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: Inverness Primary School (math 54% / reading 55%, grade C, #892 of 2,144 statewide, top 44%, 683 students, 65% FRL); Inverness Middle School (math 52% / reading 48%, grade C, #254 of 571 statewide, top 45%, 1,017 students, 60% FRL); Citrus High School (math 34% / reading 51%, grade F, #264 of 667 statewide, top 41%, 1,503 students, 54% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 421 active listings in the ZIP; 3 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 39% of the median local income ($58k/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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $76k; list at $154k implies a 103% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,250

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 6.97%
• Cash-on-cash: 2.42%
• DSCR: 1.11
• 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: -12.3%
• Equity multiple: 0.56×
• Total profit: $-19,212
• Equity at exit: $22,999

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-8,631
• Equity at exit: $13,337

Cash invested: $43,190 (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 34453

• Home prices YoY: -26.1%
• Active inventory: 421
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,885 medium
• Mortgage (P&I): −$809
• Tax from tax record: −$184 /mo · $2,207/yr
• Insurance: −$64
• HOA: −$345
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $87

Break-even live

Break-even rent $1,775

Max offer price $154,250

Occupancy floor 90%

Sensitivity live

Price	-10% $174	-5% $131	+0% $87	+5% $43	+10% $0
Rent	-10% $-62	-5% $13	+0% $87	+5% $162	+10% $236
Rate	-1.0pp $165	-0.5pp $126	base $87	+0.5pp $47	+1.0pp $6

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: $38,562
• Closing costs: $4,628
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 E Rembrandt Way Unit 424 Inverness, FL	3.0	2.0	1262	$1,850	$1.47	21d	1	0.09mi
3880 E Byrd St Inverness, FL	3.0	2.0	1380	$1,600	$1.16	21d	1	1.06mi
543 N Rooks Ave Inverness, FL	3.0	2.0	1296	$1,900	$1.47	21d	1	1.19mi

HOA detail condo

• Monthly dues: $345 · $4,140/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-19
   days on market $154,250 Active 7 DOM
2. 2026-06-18
   days on market $154,250 Active 6 DOM
3. 2026-06-17
   days on market $154,250 Active 5 DOM
4. 2026-06-16
   days on market $154,250 Active 4 DOM
5. 2026-06-15
   days on market $154,250 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $154,250 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: $2,207 · $184/mo
• Projected year-2 tax: $2,207 · $184/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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $22,621
• − Mortgage interest: −$8,640
• − Property taxes: −$2,207
• − Insurance: −$771
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − HOA: −$4,140
• − Depreciation: −$4,487
• Taxable loss: −$1,244
• Est. tax savings @ 24.0%: +$299
• After-tax cash flow: $1,344/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 — Hernando

• Score: 71/100
• State rank: #402
• US rank: #7137

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Citrus County · 111,314 people
• City population: 17,281
• Metro: Homosassa Springs, FL
• Population (ZIP): 10,621
• Household income: $57,568
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 240.0

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% Hispanic / Latino 6% Black 3% Two or more races 3% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 3% Romanian 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1% Other Asian/Pacific 0%

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: ▼ -103.32%
• Current HPI: 291.8965
• 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

+202.5% since first listed

5 events — show timeline

• 2026-06-10 Listed $154,250 RACC
• 2018-10-03 Sold (Public Records) $76,000 Public Records
• 2018-09-26 Sold (MLS) $76,000 RACC
• 2018-08-07 Listed $79,000 RACC
• 2014-05-23 Sold (Public Records) $51,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $2,207 · +7.0% YoY. Source: county tax records.