Rental numbers for ZIP 34428 (Crystal River, FL)
Negative cash flow at today's 7.78% investor rate with 25% down; the typical home breaks even at about 3.0%.
- Gross yield
- 7.5%
- rent x 12 / price
- Est. cap rate
- 3.8%
- NOI / price
- Cash flow
- -$655/mo
- at 7.78%, 25% down
- Typical price
- $296,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $1,856/mo
- Zillow ZORI, Aug 2026
The pro forma
Typical home, default assumptions
| Operator | Line | Amount | Source |
|---|---|---|---|
| Gross rent | $22,272 | ||
| Vacancy | $1,114 | ||
| Management | $1,693 | ||
| Property tax | $1,859 | ||
| Insurance | $3,335 | ||
| Maintenance | $2,965 | ||
| Net operating income | $11,307 | ||
| Loan payments | $19,171 | ||
| Cash flow | -$7,864 |
| Operator | Line | Amount | Source |
|---|---|---|---|
| Typical price | $296,469 | ||
| Down payment (25%) | $74,117 | ||
| Loan | $222,352 | ||
| Rate | 7.78% | ||
| Monthly payment | $1,598 | ||
| Cash in | $83,011 | ||
| Cash-on-cash return | -9.5% | ||
| DSCR | 0.59 | ||
| Break-even rate | 3.04% |
Assumptions
Change them in the calculator- Down payment25%
- A common minimum for investment-property and DSCR loans.
- Interest rate7.78%
- Freddie Mac 30-year 7.03% (week of 2026-09-24) + 0.75 point investor premium.
- Loan term30 years
- Fixed, fully amortising.
- Closing costs3% of price
- Added to cash invested.
- Insurance$3,335 a year
- NAIC 2023 average homeowners (HO-3) premium for Florida, $2,779, x 1.2 for a landlord policy.
- Maintenance1% of price a year
- The 1% rule of thumb; older homes run higher.
- Vacancy5% of rent
- About 18 days empty a year.
- Management8% of collected rent
- A typical full-service fee; zero if you self-manage.
Trends
Five years to August 2026
- Price, 12 months
- +0.8%
- Rent, 12 months
- n/a
- rent series under a year old
- Rent minus price growth
- n/a
- positive means yields are improving
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $241,592 | n/a |
| Aug 2022 | $303,600 | n/a |
| Aug 2023 | $305,012 | n/a |
| Aug 2024 | $309,672 | n/a |
| Aug 2025 | $294,011 | n/a |
| Aug 2026 | $296,469 | $1,856 |
Rent references
Two sources, never blended
| Source | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| HUD Small Area FMR, FY2026 | $860 | $860 | $1,080 | $1,520 | $1,820 |
| Zillow observed rent, Aug 2026 | $1,856 typical, all home types | ||||
HUD's Fair Market Rent is the 40th percentile gross rent (rent plus utilities) for a standard unit, and it is what Section 8 vouchers pay against. Zillow's index tracks asking rents on listed homes. The two measure different things, so they are shown side by side and never averaged. HUD area: Homosassa Springs, FL MSA.
Property tax
- Effective rate
- 0.63%
- ZIP area, ACS
- At the typical price
- $1,859/yr
Median real estate taxes paid divided by median home value, Census ACS 2020 to 2024. Citrus County: 0.58%. Actual bills depend on the assessment, exemptions and any non-homestead rate.
Supply
- Permits per 1,000 households
- 27.7
- Citrus County, last 12 months
- National percentile
- 95th
- among US counties
1,972 new housing units permitted in 2025-09 to 2026-08, Census Building Permits Survey. A high figure means more new supply competing for tenants.
Nearby ZIP codes
| ZIP | Distance | Typical price | Rent | Gross yield | Cash flow /mo |
|---|---|---|---|---|---|
| 34429Crystal River | 5.5 mi | $252,000 | $1,842 | 8.8% | -$356 |
| 34498Yankeetown | 7.5 mi | $276,000 | $1,210* | 5.3% | -$1,126 |
| 34433Dunnellon | 9.0 mi | $273,000 | $1,863 | 8.2% | -$493 |
| 34465Beverly Hills | 10.5 mi | $237,000 | $1,632 | 8.3% | -$450 |
| 34449Inglis | 11.6 mi | $252,000 | $1,080* | 5.1% | -$1,050 |
| 34448Homosassa | 12.2 mi | $267,000 | $2,500 | 11.2% | +$103 |
| 34461Lecanto | 14.0 mi | $324,000 | $1,220* | 4.5% | -$1,368 |
| 34434Dunnellon | 14.2 mi | $255,000 | $1,691 | 8.0% | -$495 |
* HUD Fair Market Rent, 2 bedroom (no Zillow rent index for that ZIP).
Every ZIP in Citrus CountyHomosassa Springs, FL metroFlorida
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Open the calculator for 34428Questions
- Is 34428 good for rental property?
- On the typical home here, priced at $296,000 and renting for $1,856 a month (Zillow ZORI, Aug 2026), the gross yield is 7.5% and the estimated cap rate is 3.8%. At a 7.78% investor rate with 25% down, estimated cash flow is -$655 a month. The median gross yield across the 8,418 ZIP codes with full Zillow data is 5.6%. These are figures for a typical property, not a judgement on any particular one.
- What is the typical rent in 34428?
- Zillow's observed rent index for 34428 was $1,856 a month in August 2026, across all home types. HUD's FY2026 Small Area Fair Market Rent for a 2-bedroom here is $1,080, the 40th percentile of gross rents and the basis for Section 8 payment standards.
- What is the property tax rate in 34428?
- The effective property tax rate is about 0.63% of value (median taxes paid divided by median home value, Census ACS 2020 to 2024). On the typical $296,000 home that is about $1,859 a year. Your bill depends on the assessment and local exemptions.
- What interest rate makes a rental in 34428 break even?
- About 3.04%. Below that rate, the typical home here cash-flows with 25% down and the default costs; above it, it does not. Today's investor rate used here is 7.78%.
- How fast are prices and rents changing in 34428?
- Over the 12 months to August 2026, the typical home value changed +0.8%.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
- NAIC Homeowners Insurance Report, data for 2023
National Association of Insurance Commissioners. Read: 2023.
Average HO-3 homeowners premium by state, multiplied by 1.2 as a landlord-policy assumption.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.