1030 E Wacker St · Hernando, FL 34442

$235,000

3 bd · 2.0 ba · 1,186 sqft · SingleFamily public records · 13 Days on market

Built 1989 1.16 ac lot

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Why this score? — see what drove the C- 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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.8/10.0
• 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

Charming and well-maintained 3-bedroom, 2-bath home with a 1-car garage situated on over an acre of property! This inviting home features an updated kitchen with modern touches, a spacious glassed-in lanai for relaxing year-round, and a chain-link fenced backyard for pets or play. Enjoy peace of mind with a new roof, plus added storage and workspace in the shed complete with electricity. Beautiful azaleas in the front yard add great curb appeal and a welcoming touch. Plenty of room to spread out while still enjoying the comforts of home!

Key facts

• Updated kitchen
• New roof
• 1.16 acre lot

Tags

• UPDATED KITCHEN
• SPACIOUS GLASSED-IN LANAI
• CHAIN-LINK FENCED BACKYARD
• NEW ROOF
• SHED WITH ELECTRICITY
• AZALEAS IN FRONT YARD

Property features AI

Finance

• Other: Zoning: LDRMH

Exterior

• Parking: Attached garage with 1 garage space; Concrete driveway; Garage door opener; Total 1 parking space
• Security: Smoke detector(s)
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; New construction; One level; Home faces north
• Construction: Stucco construction; Asphalt shingle roof; Block and slab foundation; Built as new construction
• Exterior features: Chain link fencing; Corner, level, rectangular, wooded lot; Paved road frontage (county road); Shed(s); No pool

Interior

• Kitchen: Electric oven and range; Microwave; Refrigerator; Water purifier (owned)
• Bedrooms: Total rooms: 9
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Breakfast bar; Laminate countertops; Walk-in closet(s); Blinds and window coverings; Double-pane windows; Window treatments; Smoke detector(s)
• Laundry & utility: Washer and dryer; Laundry located in garage; Water heater

🏗️ New construction. The $235,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $194,504.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/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 $191k (18.9% below list).
• Recommended offer: $191k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 6.0% in Hernando — 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 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: Central Ridge Elementary School (math 41% / reading 44%, grade F, #1,383 of 2,144 statewide, top 65%, 723 students, 64% FRL); Citrus Springs Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 821 students, 59% 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: 448 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($57k/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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $127k; list at $235k implies a 85% 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; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,627 (18.9% 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. 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.
3. 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.
4. 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: 0.98% ✗
• Cap rate: 8.15%
• Cash-on-cash: 6.64%
• DSCR: 1.30
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $194,504
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
998 E Wacker St	0.03mi	3/2.0	1,214 (+2%)	13mo	$259,000	$213	84
994 E Winnetka St	0.26mi	2/1.5 (-1)	1,168 (-2%)	15mo	$185,000	$158	66
621 E Cermak St	0.44mi	3/2.0	1,152 (-3%)	23mo	$105,000	$91	56
5727 N Western Dr	0.46mi	4/2.0 (+1)	1,344 (+13%)	22mo	$220,000	$164	34

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: -6.1%
• Equity multiple: 0.77×
• Total profit: $-12,390
• Equity at exit: $29,001

10-year hold

• IRR: 3.5%
• Equity multiple: 1.25×
• Total profit: $13,682
• Equity at exit: $16,817

Cash invested: $54,461 (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 34442

• Home prices YoY: -21.9%
• Active inventory: 448
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,906 medium
• Mortgage (P&I): −$1,020
• Tax from tax record: −$104 /mo · $1,244/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $301

Break-even live

Break-even rent $1,525

Max offer price $194,504

Occupancy floor 79%

Sensitivity live

Price	-10% $411	-5% $356	+0% $301	+5% $246	+10% $191
Rent	-10% $151	-5% $226	+0% $301	+5% $377	+10% $452
Rate	-1.0pp $399	-0.5pp $351	base $301	+0.5pp $251	+1.0pp $200

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: $48,626
• Closing costs: $5,835
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-13
   listed $235,000 Active
2. 2019-08-02
   soldstatus $127,000
3. 1992-08-01
   soldstatus $25,264

ⓘ 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: $1,244 · $104/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$706/yr (+$59/mo · 56.7%)

ⓘ 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 4/10 Moderate
• 🌡 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: $22,875
• − Mortgage interest: −$10,895
• − Property taxes: −$1,244
• − Insurance: −$973
• − Repairs & maintenance: −$1,830
• − Management: −$1,830
• − Depreciation: −$5,658
• Taxable income: $445
• Est. tax owed @ 24.0%: −$107
• After-tax cash flow: $3,508/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

• Census place: Hernando, FL
• County: Citrus County · 111,314 people
• City population: 17,281
• Metro: Homosassa Springs, FL
• Population (ZIP): 17,281
• Household income: $57,259
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 314.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Asian 2% Black 2%
• Common ancestry: Romanian 4% Slovak 4% Lithuanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 93% English-only · Spanish 3% German/W. Germanic 2% 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: ▼ -76.70%
• Current HPI: 273.3262
• 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

+830.2% since first listed

3 events — show timeline

• 2026-05-13 Listed $235,000 RACC
• 2019-08-02 Sold (Public Records) $127,000 Public Records
• 1992-08-01 Sold (Public Records) $25,264 Public Records

Property tax history

+8.2%/yr

Latest (2025): $1,244 · +7.4% YoY. Source: county tax records.