9430 Nakoma Way · North Weeki Wachee, FL 34613

$134,888

2 bd · 2.0 ba · 996 sqft · Condo public records · 54 Days on market

Built 1988 $377/mo HOA · 24% 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 +11.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.2/10.0
• DSCR +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

-A once-in-a- lifetime opportunity for privacy and maintenance free living! This exceptional condo is on the ground level, one story, corner unit backs up to a golf course - 2nd green. Golf in your back yard!Beautiful 2 Bedrooms 2 Baths in sparkling move-in condition.All apliances convey with the property.Home warranty included at closing.There is nothing to do except move in!

Key facts

• Two skylights
• End-unit condominium
• No neighbors above

Tags

• END-UNIT CONDOMINIUM
• NO NEIGHBORS ABOVE
• TWO SKYLIGHTS
• REAR PORCH ENCLOSED
• VIEWS OVERLOOKING GOLF COURSE
• NEW ROOF

Property features AI

Finance

• Other: Subdivision: Greens at the Heather
• HOA & community: Homeowners association; Monthly association fee ($24) covering cable TV, insurance, internet, grounds and structure maintenance, and trash; Additional monthly association fee ($353); Community amenities: pool, clubhouse, barbecue, basketball court, shuffleboard court, RV/boat storage, cable TV, maintenance (grounds & structure)

Exterior

• Parking: Assigned parking; On-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; 150 Amp electrical service; 220 Volt service; Underground electric; Cable connected; Electricity connected; Sewer connected; Water connected
• Home design: Condominium; Single-story; One level; Has a view
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Rear porch; On golf course; Paved road access; Street lights (community)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: Includes walk-in closet(s)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric); Ceiling fan(s)
• Interior features: Ceiling fans; Open floor plan; Walk-in closets; Skylight(s)
• Laundry & utility: In-unit washer and dryer hookups; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $-34 ($-412/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (4.5% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $129k (4.5% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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; 1 comparable units currently listed for rent nearby; 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• This rent runs 33% of the median local income ($59k/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 $933 of loan paydown is wiped out by about $4k 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 54 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: HOA is 24% 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 $128,828 (4.5% 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 54 days. Have you received any prior offers? Is the seller open to a 4% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.18% ✓
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 7.0

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: -17.9%
• Equity multiple: 0.37×
• Total profit: $-23,794
• Equity at exit: $20,112

10-year hold

• IRR: -9.6%
• Equity multiple: 0.40×
• Total profit: $-22,525
• Equity at exit: $11,663

Cash invested: $37,769 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,598 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$156 /mo · $1,876/yr
• Insurance: −$56
• HOA: −$377
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-34

Break-even live

Break-even rent $1,642

Max offer price $128,828

Occupancy floor 97%

Sensitivity live

Price	-10% $42	-5% $4	+0% $-34	+5% $-72	+10% $-111
Rent	-10% $-161	-5% $-97	+0% $-34	+5% $29	+10% $92
Rate	-1.0pp $34	-0.5pp $0	base $-34	+0.5pp $-69	+1.0pp $-105

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: $33,722
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7425 Galloway Rd Weeki Wachee, FL	2.0	2.0	936	$1,600	$1.71	14d	1	0.89mi

HOA detail condo

• Monthly dues: $377 · $4,524/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-08
   status $134,888 Pending 54 DOM
2. 2026-06-07
   days on market $134,888 Active 54 DOM
3. 2026-06-04
   days on market $134,888 Active 51 DOM
4. 2026-06-03
   days on market $134,888 Active 50 DOM
5. 2026-06-02
   days on market $134,888 Active 49 DOM
6. 2026-06-01
   days on market $134,888 Active 48 DOM
7. 2026-05-31
   days on market $134,888 Active 47 DOM
8. 2026-04-13
   listed $134,888 Active
9. 2006-04-07
   soldstatus $139,800
10. 2006-04-05
    soldstatus $139,777 379-char remark

    Show marketing remark (379 chars)

    -A once-in-a- lifetime opportunity for privacy and maintenance free living! This exceptional condo is on the ground level, one story, corner unit backs up to a golf course - 2nd green. Golf in your back yard!Beautiful 2 Bedrooms 2 Baths in sparkling move-in condition.All apliances convey with the property.Home warranty included at closing.There is nothing to do except move in!

11. 2006-03-02
    listed $139,777 379-char remark

    Show marketing remark (379 chars)

    -A once-in-a- lifetime opportunity for privacy and maintenance free living! This exceptional condo is on the ground level, one story, corner unit backs up to a golf course - 2nd green. Golf in your back yard!Beautiful 2 Bedrooms 2 Baths in sparkling move-in condition.All apliances convey with the property.Home warranty included at closing.There is nothing to do except move in!

12. 1997-06-09
    soldstatus $60,000
13. 1990-02-01
    soldstatus $58,000

ⓘ 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: $1,876 · $156/mo
• Projected year-2 tax: $1,876 · $156/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 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: $19,179
• − Mortgage interest: −$7,556
• − Property taxes: −$1,876
• − Insurance: −$674
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − HOA: −$4,524
• − Depreciation: −$3,924
• Taxable loss: −$2,444
• Est. tax savings @ 24.0%: +$587
• After-tax cash flow: $175/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

+132.6% since first listed

6 events — show timeline

• 2026-04-13 Listed $134,888 HCAR
• 2006-04-07 Sold (Public Records) $139,800 Public Records
• 2006-04-05 Sold (MLS) $139,777 HCAR
• 2006-03-02 Listed $139,777 HCAR
• 1997-06-09 Sold (Public Records) $60,000 Public Records
• 1990-02-01 Sold (Public Records) $58,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $1,876 · +0.3% YoY. Source: county tax records.