515 ELLA AVENUE, INVERNESS, FL, 34450
Active39 days on marketListed Jun 23, 2026MLS #OM727203
About this home
515 ELLA AVENUE
Investor opportunity with RO (Residential/Office) zoning located just minutes from downtown Inverness. This 2-bedroom, 1-bathroom property is in need of substantial repairs and is being sold strictly as-is for cash buyers only. The home requires a new roof as soon as possible and has foundation issues that will need to be addressed. A portion of the living room was enclosed to create a flex space that may function as a third bedroom. Atleast two rooms have visible ceiling water damage, and there may be subfloor damage beneath stored personal property currently occupying those areas. Tarps are presently installed on the roof to help prevent additional water intrusion. The property does not have central air conditioning and is cooled by window units only. The condition of the plumbing and electrical systems is unknown. The interior shower is currently non-operational, and an outdoor shower is being used instead. Seller does not occupy the property and makes no representations regarding the condition of the home. Information provided is based on public records; buyers and buyer's agents are responsible for conducting all due diligence. The property is tenant occupied. Do not disturb tenants and do not visit the property without an appointment. Showings will be limited and are expected to occur primarily on weekends, as the tenant must be present during showings. The shed does not convey with the sale. Tenant indicates vehicles on the property will be removed prior to closing; however, any personal property remaining after closing will become the responsibility of the buyer. Conveniently located near shopping, restaurants, parks, public boat ramps, fishing, boating, and other outdoor recreation. RO zoning is intended to accommodate residential use alongside certain low-impact professional and administrative office uses; buyers should verify all permitted uses with the local zoning department. Cash offers only. Must use seller’s title company, Legal Counsel PA in Winter Garden, for closing with no exceptions. Preferred earnest money deposit is $7,500. Inspection period not to exceed 3 days. Closing to occur in 35 days of accepted contract. Assignment of contract is not permitted.
Facts & features
The home at a glance
2
Bedrooms
1
Bathrooms
902
Sqft
0.3 ac
Lot size
1945
Year built
One
Levels
$66
Per sqft
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record — not generic estimates.
$624 /mo · 3.5% down FHA, 30-yr fixed at 6%
The assumptions
FHA is the default here because it gets you in the door with just 3.5% down. Switch to Conventional or VA below.
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
Estimated payment
$624/mo
Includes FHA mortgage insurance and the financed 1.75% upfront premium. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Value check
Is the price right?
The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.
vs edgeAI estimate
−75.6%
$/sqft vs NOT IN A SUBDIVISION
$66 vs $284
Days on market
39 vs 25 typical
Where $66/sqft sits among the 19 homes for sale in NOT IN A SUBDIVISION
The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.
Where it sits
Inside Inverness
Drive times from this address
Estimated driving times, typical traffic. Data © OpenStreetMap contributors.
Get to know Inverness. See the full Inverness guide →
INVERNESS 34450 — neighborhood snapshot
Population
10,408
Median age
59.5
Median income
$48,955
Median home value
$210,200
Avg household
2.04
Households w/ children
604
For the school run
Citrus County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Inverness market
$240K → $270K
Inverness median sold, yr/yr
96.2%
Sale-to-list ratio (12 mo)
12 of 19
NOT IN A SUBDIVISION have cut their price
Median sold price, Inverness, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 67% below the INVERNESS 34450 median. See the full Inverness market guide →
Paper trail
This home's history
Reality check
What actually sold near 515 ELLA AVENUE
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Jun ’26$205,000
88 YALE AVE. · same community
3 bd · 1 ba · 920 sqft · $223/sqft · 104 DOM
Sold · Oct ’25$155,000
5426 NE HIGHWAY 349 · same community
2 bd · 2 ba · 960 sqft · $161/sqft · 13 DOM
Sold · Nov ’25$150,000
2185 BROOKE ROAD · same community
2 bd · 1 ba · 784 sqft · $191/sqft · 122 DOM
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, negotiation, and every question about 515 ELLA AVENUE — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 515 ELLA AVENUE — before you fall in love.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Straight answers
515 ELLA AVENUE FAQs
What would the monthly payment be for 515 ELLA AVENUE?+
With 3.5% down on a 30-year FHA loan at 6%, the all-in payment lands around $624/mo — principal and interest, the actual property-tax bill and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
What are the property taxes on 515 ELLA AVENUE?+
The most recent tax bill on record (2025) was $1,075. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
Are pets allowed at 515 ELLA AVENUE?+
The listing reports pets: Yes. Communities often layer on breed or weight rules — we'll verify the specifics with the association before you commit.
How does the price compare to other homes in Inverness?+
At $59,222, this home is listed about 77% below the Inverness median of $258,450. The market section on this page shows how the area is trending.
Which schools are assigned to 515 ELLA AVENUE?+
Inverness Primary School (elementary), Citrus High School (high), Inverness Middle School (middle) — Citrus County School District. Always verify school assignments with the district before relying on them.
The brief
Three things that matter here
01Under the INVERNESS 34450 market on paper
$59,222 is 67% below the INVERNESS 34450 median of $177,500, and at $66/sqft it sits under the Inverness average of $191.
02Trees/Woods views
The trees/woods view is part of what you're buying — views hold value independently of the structure.
03The price has already moved
Listed at $72,111, now $59,222 — a $13K cut. The full history is in the market section below.
Keep looking
Similar homes nearby
Listing courtesy of REAL BROKER, LLC · Ashley Grieg. MLS #OM727203.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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