4529 Olive Dr · Zephyrhills South, FL 33542

$89,900

2 bd · 2.0 ba · 636 sqft · Manufactured public records · 59 Days on market

Built 1973 6,450 sqft lot Est $74k · 22% over

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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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +4.3/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

OWN THE LAND! This 2 bedroom 1 bath single-wide manufactured home is located on a cul de sac. Fully furnished and ready to go. No restrictions, no fees, no homeowner's association. Located in the county with city water, low taxes and walking distance to Zephyr Park. This mobile home would make a great starter home or a winter retreat. This home features laminate flooring light and bright walls, no dark paneling here. The master bedroom is huge, and the living room and kitchen are open with eating space in the kitchen. This home also features a Florida room and another room off of the Florida room that is currently being used as a second bedroom. If you are looking for a great deal then you must come and check this out. Call today it won’t last long with this great price, great location.

Key facts

• 6,450 sq ft lot
• Parking
• Built 1973

Property features AI

Finance

• Other: Property zoned RMH; Lot approximately 0.15 acre (60 x 107); Furnished (per listing); Universal property identifier on file
• Financial info: No lease restrictions indicated; Taxes listed separately
• HOA & community: No community association fees; Community features: None; Pets allowed: cats and dogs

Exterior

• Parking: Covered parking; Driveway; 1-car carport
• Security: No specific security features listed
• Utilities: Public water; Septic tank; Cable available; Electricity connected; Water connected
• Home design: Single-wide mobile home (Residential); One story; Faces east
• Construction: Metal siding; Roof over; Crawlspace foundation; Building area reported
• Exterior features: Enclosed side porch / Florida room; Side porch; Chain link fencing; Private mailbox; Shed(s); Trees and landscaped yard; Paved road frontage

Interior

• Kitchen: Range; Refrigerator; Dishwasher not listed
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Baseboard heating; Space heater; Central air conditioning and additional cooling
• Interior features: Open floorplan with a living room/dining room combo; Split bedroom layout; Window treatments
• Laundry & utility: Laundry room with washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 4.1% in Zephyrhills South — 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 58/100 on livability (#836 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment D, amenities F, commute F.
• Pasco (suburban): math 50% / reading 52% proficiency, ranked #32 of 73 in FL (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chester W. Taylor Jr. Elementary School (math 33% / reading 37%, grade F, #1,697 of 2,144 statewide, top 80%, 654 students, 77% FRL); Zephyrhills High School (math 35% / reading 37%, grade F, #359 of 667 statewide, top 55%, 1,656 students, 70% FRL) — zoned schools average 73% FRL vs 48% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 51% district-wide (-16 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-3.6%/yr); 297 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $90k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.34% ✓
• Cap rate: 10.74%
• Cash-on-cash: 15.87%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $73,776
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4550 Olive Dr	0.05mi	2/2.0	720 (+13%)	1mo	$97,000	$135	75
4833 Royal Palm Dr	0.35mi	2/1.0	672 (+6%)	2mo	$78,000	$116	69
37706 March Ln	0.38mi	2/1.5	672 (+6%)	9mo	$80,000	$119	63
4632 Coral St	0.20mi	1/1.0 (-1)	588 (-8%)	9mo	$82,650	$141	61
38317 Palm Grove Dr	0.45mi	1/1.0 (-1)	576 (-9%)	10mo	$37,500	$65	46
4927 Coral St	0.45mi	2/1.5	720 (+13%)	12mo	$66,000	$92	45
37418 Hammond Dr	0.74mi	2/2.0	692 (+9%)	13mo	$62,000	$90	40
37437 Ray Dr	0.74mi	2/1.5	680 (+7%)	17mo	$74,900	$110	38

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.12×
• Total profit: $3,116
• Equity at exit: $13,404

10-year hold

• IRR: 9.8%
• Equity multiple: 1.65×
• Total profit: $16,426
• Equity at exit: $7,773

Cash invested: $25,172 (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 33542

• Home prices YoY: -20.6%
• Rents YoY: -3.6%
• Active inventory: 297
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,206 high
• Mortgage (P&I): −$471
• Tax from tax record: −$111 /mo · $1,329/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $333

Break-even live

Break-even rent $784

Max offer price $89,900

Occupancy floor 67%

Sensitivity live

Price	-10% $384	-5% $358	+0% $333	+5% $307	+10% $282
Rent	-10% $238	-5% $285	+0% $333	+5% $380	+10% $428
Rate	-1.0pp $378	-0.5pp $356	base $333	+0.5pp $310	+1.0pp $286

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37925 Date Palm Dr Zephyrhills, FL	3.0	1.5	720	$1,300	$1.81	25d	1	0.14mi
4412 Plum St Zephyrhills, FL	1.0	1.0	624	$1,100	$1.76	25d	1	0.30mi
4410 Plum St Zephyrhills, FL	1.0	1.0	624	$1,100	$1.76	25d	1	0.30mi
4833 Royal Palm Dr Zephyrhills, FL	2.0	1.0	672	$1,090	$1.62	25d	1	0.31mi
4352 6th St Zephyrhills, FL	1.0	1.0	494	$1,100	$2.23	25d	1	0.43mi
38044 6th Ave Unit 38044 Zephyrhills, FL	1.0	1.0	494	$950	$1.92	25d	1	0.57mi
5150 6th St Zephyrhills, FL	1.0	1.0	600	$925	$1.54	25d	1	0.67mi
5208 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	5d	1	0.76mi
5214 7th St Zephyrhills, FL	1.0	1.0	550	$1,100	$2.00	17d	1	0.76mi
5214 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	5d	1	0.76mi
5206 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	5d	1	0.76mi
38941 C Ave Zephyrhills, FL	1.0	1.0	520	$1,050	$2.02	5d	1	0.92mi
5426 8th St #1 Zephyrhills, FL	1.0	1.0	432	$1,150	$2.66	25d	1	0.94mi
4808 20th St Zephyrhills, FL	2.0	1.0	702	$1,295	$1.84	11d	1	0.98mi
5217 17th St Zephyrhills, FL	1.0	1.0	540	$1,050	$1.94	25d	1	0.99mi
5611 1st St Zephyrhills, FL	1.0	1.0	600	$1,095	$1.82	17d	1	1.04mi
38010 14th Ave Apt 3 Zephyrhills, FL	1.0	1.0	537	$1,195	$2.23	25d	1	1.16mi
5168 Crooked Ln Zephyrhills, FL	2.0	1.0	600	$1,645	$2.74	22d	1	1.27mi
39041 Manor Dr Unit B Zephyrhills, FL	1.0	1.0	450	$1,000	$2.22	25d	1	1.28mi

Listing history 17 events

1. 2026-06-07
   statusdays on market $89,900 Pending 59 DOM
2. 2026-06-04
   days on market $89,900 Active 58 DOM
3. 2026-06-03
   days on market $89,900 Active 57 DOM
4. 2026-06-02
   days on market $89,900 Active 56 DOM
5. 2026-06-01
   days on market $89,900 Active 55 DOM
6. 2026-05-31
   days on market $89,900 Active 54 DOM
7. 2026-04-07
   listed $99,900 Active
8. 2025-12-03
   historical
9. 2025-11-09
   price $115,000
10. 2025-10-16
    price $120,000
11. 2025-02-14
    listed $125,000 Active
12. 2015-11-12
    soldstatus $40,000 Sold 803-char remark

    Show marketing remark (803 chars)

    OWN THE LAND! This 2 bedroom 1 bath single-wide manufactured home is located on a cul de sac. Fully furnished and ready to go. No restrictions, no fees, no homeowner's association. Located in the county with city water, low taxes and walking distance to Zephyr Park. This mobile home would make a great starter home or a winter retreat. This home features laminate flooring light and bright walls, no dark paneling here. The master bedroom is huge, and the living room and kitchen are open with eating space in the kitchen. This home also features a Florida room and another room off of the Florida room that is currently being used as a second bedroom. If you are looking for a great deal then you must come and check this out. Call today it won’t last long with this great price, great location.

13. 2015-10-29
    status Pending 803-char remark

    Show marketing remark (803 chars)

    OWN THE LAND! This 2 bedroom 1 bath single-wide manufactured home is located on a cul de sac. Fully furnished and ready to go. No restrictions, no fees, no homeowner's association. Located in the county with city water, low taxes and walking distance to Zephyr Park. This mobile home would make a great starter home or a winter retreat. This home features laminate flooring light and bright walls, no dark paneling here. The master bedroom is huge, and the living room and kitchen are open with eating space in the kitchen. This home also features a Florida room and another room off of the Florida room that is currently being used as a second bedroom. If you are looking for a great deal then you must come and check this out. Call today it won’t last long with this great price, great location.

14. 2015-06-03
    listed $44,500 Active 803-char remark

    Show marketing remark (803 chars)

    OWN THE LAND! This 2 bedroom 1 bath single-wide manufactured home is located on a cul de sac. Fully furnished and ready to go. No restrictions, no fees, no homeowner's association. Located in the county with city water, low taxes and walking distance to Zephyr Park. This mobile home would make a great starter home or a winter retreat. This home features laminate flooring light and bright walls, no dark paneling here. The master bedroom is huge, and the living room and kitchen are open with eating space in the kitchen. This home also features a Florida room and another room off of the Florida room that is currently being used as a second bedroom. If you are looking for a great deal then you must come and check this out. Call today it won’t last long with this great price, great location.

15. 2014-11-18
    soldstatus $34,500 Sold
16. 2014-11-12
    status Pending
17. 2014-10-08
    listed $37,000 Active

ⓘ 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: $1,329 · $111/mo
• Projected year-2 tax: $1,329 · $111/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,469
• − Mortgage interest: −$5,036
• − Property taxes: −$1,329
• − Insurance: −$450
• − Repairs & maintenance: −$1,158
• − Management: −$1,158
• − Depreciation: −$2,615
• Taxable income: $2,724
• Est. tax owed @ 24.0%: −$654
• After-tax cash flow: $3,341/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: Pasco
• NCES district ID: 1201530
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 52% ▼ -5.00%
• Median HH income: $45,039
• Composite: 43.14/100
• National rank: #3074
• State rank: #32 of 73 in FL

Livability — Zephyrhills South

• Score: 58/100
• State rank: #836
• US rank: #20702

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zephyrhills South, FL
• County: Pasco County · 524,098 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 23,612
• Household income: $49,316
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 831.0

Population outlook (Pasco County) Hauer SSP2

• Today (2025): 570,045 people
• By 2030: 605,844 · +6.3%
• By 2040: 674,806 · +18.4%
• By 2050: 736,022 · +29.1%
• By 2075: 862,900 · +51.4%
• By 2100: 906,364 · +59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 8% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 12% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Pasco

• 2024 margin: Strong R (+25.2) · D 36.9% · R 62.1% · Other 1.0%
• 2008→2024 swing: -21.6pp toward R · 2008: -3.6pp · 2024: -25.2pp
• All cycles: 2024: R+25.2 2020: R+20.1 2016: R+21.6 2012: R+6.7 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.25%
• Current HPI: 313.3993
• Rent YoY: ▼ -3.56%
• 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

+170.0% since first listed

11 events — show timeline

• 2026-04-07 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-09 Price Changed $115,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-16 Price Changed $120,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-14 Listed $125,000 Stellar MLS as Distributed by MLS Grid
• 2015-11-12 Sold (MLS) $40,000 Stellar MLS as Distributed by MLS Grid
• 2015-10-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-06-03 Listed $44,500 Stellar MLS as Distributed by MLS Grid
• 2014-11-18 Sold (MLS) $34,500 Stellar MLS as Distributed by MLS Grid
• 2014-11-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2014-10-08 Listed $37,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2025): $1,329 · +8.3% YoY. Source: county tax records.