6870 Parkside Dr · New Port Richey East, FL 34653

$263,000

3 bd · 1.0 ba · 2,030 sqft · SingleFamily public records · 111 Days on market

Built 1975 10,781 sqft lot Est $458k · 43% under · waterfront

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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 +15.5/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 3-bedroom, 2-bath home situated on an oversized 1/4 acre lot with peaceful backyard views of Cedar Lake. This property offers a wonderful opportunity for its new owner to add personal touches and truly make it their own. Enjoy the backyard screened patio — perfect for relaxing or entertaining while taking in the scenic surroundings. Recent updates include a new water heater (2026) and a newer A/C system, providing added value and peace of mind. With abundant outdoor space and plenty of potential, this property is ready to begin its next chapter.

Key facts

• Ample outdoor space
• Newer a c system
• New water heater

Tags

• BACKYARD VIEWS
• BACKYARD SCREENED PATIO
• NEW WATER HEATER
• NEWER A C SYSTEM
• AMPLE OUTDOOR SPACE

Property features AI

Finance

• Other: Zoned R4
• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Broadband/high-speed internet available
• Home design: Single family residence; One story; Faces east
• Construction: Concrete and stucco construction; Shingle roof; Block foundation; Built with approximately 2030 square feet of living area
• Exterior features: Other exterior features; Paved road access; Lake view; Lake access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Other interior features; 6 total rooms
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $263k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/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 $212k (19.4% below list).
• Recommended offer: $212k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.3% in New Port Richey East — 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 (#499 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 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: Cotee River Elementary School (math 42% / reading 45%, grade F, #1,345 of 2,144 statewide, top 64%, 551 students, 84% FRL); Gulf Middle School (math 34% / reading 33%, grade F, #428 of 571 statewide, top 76%, 901 students, 83% FRL); Gulf High School (math 32% / reading 34%, grade F, #406 of 667 statewide, top 61%, 1,465 students, 76% FRL) — zoned schools average 81% FRL vs 48% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 37% at this address vs 51% district-wide (-14 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.9%/yr); 306 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• At $2,120/mo this rent would consume 51% of the median local household income ($50k/yr) (locally 1439% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 111 days — a 9% lower offer ($239k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $43k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $212,017 (19.4% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.81% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.74%
• DSCR: 1.08
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $457,664
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7535 Cypress Knoll Dr	0.51mi	3/2.0	1,839 (-9%)	10mo	$300,000	$163	48
7449 Cypress Dr	0.30mi	4/2.0 (+1)	1,888 (-7%)	21mo	$329,900	$175	48
7308 Ashmore Dr	0.60mi	3/2.0	1,771 (-13%)	21mo	$295,000	$167	30
6544 Florida Ave	0.71mi	4/2.0 (+1)	2,225 (+10%)	21mo	$370,000	$166	25

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: -16.6%
• Equity multiple: 0.43×
• Total profit: $-42,144
• Equity at exit: $39,214

10-year hold

• IRR: -14.0%
• Equity multiple: 0.29×
• Total profit: $-52,436
• Equity at exit: $22,739

Cash invested: $73,640 (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 34653

• Home prices YoY: -18.4%
• Rents YoY: -2.9%
• Active inventory: 306
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,120 high
• Mortgage (P&I): −$1,379
• Tax from tax record: −$79 /mo · $951/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $107

Break-even live

Break-even rent $1,985

Max offer price $263,000

Occupancy floor 90%

Sensitivity live

Price	-10% $256	-5% $181	+0% $107	+5% $32	+10% $-42
Rent	-10% $-61	-5% $23	+0% $107	+5% $191	+10% $274
Rate	-1.0pp $239	-0.5pp $174	base $107	+0.5pp $39	+1.0pp $-31

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: $65,750
• Closing costs: $7,890
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6474 Taylor Ct New Port Richey, FL	3.0	2.0	1620	$2,400	$1.48	12d	1	0.46mi
7421 Congress St New Port Richey, FL	4.0	2.0	1792	$1,890	$1.05	22d	1	0.94mi
6250 Kentfield Ave New Port Richey, FL	3.0	2.0	1578	$2,500	$1.58	6d	1	1.03mi
6131 Central Ave New Port Richey, FL	3.0	2.0	1682	$2,500	$1.49	26d	1	1.07mi
7810 Cayuga Dr New Port Richey, FL	2.0	2.0	1838	$1,973	$1.07	6d	1	1.07mi
6073 Vermont Ave New Port Richey, FL	3.0	2.0	1562	$2,250	$1.44	26d	1	1.12mi
7911 Foxwood Dr New Port Richey, FL	3.0	2.0	1529	$1,749	$1.14	14d	1	1.18mi
6947 Bottle Brush Dr Port Richey, FL	3.0	2.0	2121	$2,000	$0.94	26d	1	1.25mi
6692 Homebound Way New Port Richey, FL	2.0	2.0	1630	$2,600	$1.60	26d	1	1.28mi
6692 Homebound Way New Port Richey, FL	2.0	2.0	1613	$2,595	$1.61	1d	1	1.28mi
8030 Gabriel Dr Port Richey, FL	3.0	2.0	1501	$2,025	$1.35	6d	1	1.30mi
7829 Glencoe Dr New Port Richey, FL	3.0	2.0	1658	$2,295	$1.38	21d	1	1.30mi
8102 Chickasaw Ln Port Richey, FL	3.0	2.0	1688	$1,969	$1.17	6d	1	1.35mi
7544 Red Mill Cir New Port Richey, FL	3.0	2.5	1513	$2,200	$1.45	19d	1	1.37mi
7542 Red Mill Cir New Port Richey, FL	3.0	2.5	1662	$2,100	$1.26	26d	1	1.38mi
8427 Blue Rock Dr New Port Richey, FL	3.0	2.5	1513	$2,250	$1.49	5d	1	1.45mi
6024 Georgia Ave New Port Richey, FL	2.0	1.0	1608	$1,299	$0.81	26d	1	1.45mi
5800 Montana Ave New Port Richey, FL	2.0	1.0	1536	$1,300	$0.85	26d	1	1.49mi

Listing history 28 events

1. 2026-06-18
   days on market $263,000 Active 111 DOM
2. 2026-06-17
   price $263,000 Active 110 DOM
3. 2026-06-17
   days on market $268,000 Active 110 DOM
4. 2026-06-16
   days on market $268,000 Active 109 DOM
5. 2026-06-15
   days on market $268,000 Active 108 DOM
6. 2026-06-13
   days on market $268,000 Active 106 DOM
7. 2026-06-09
   days on market $268,000 Active 102 DOM
8. 2026-06-08
   days on market $268,000 Active 101 DOM
9. 2026-06-07
   days on market $268,000 Active 100 DOM
10. 2026-06-04
    days on market $268,000 Active 97 DOM
11. 2026-06-03
    days on market $268,000 Active 96 DOM
12. 2026-06-02
    days on market $268,000 Active 95 DOM
13. 2026-06-01
    days on market $268,000 Active 94 DOM
14. 2026-05-31
    days on market $268,000 Active 93 DOM
15. 2026-05-15
    price $268,000
16. 2026-05-01
    price $273,687
17. 2026-05-01
    price $268,687
18. 2026-04-29
    price $273,687
19. 2026-03-15
    price $296,687
20. 2026-02-27
    listed $305,687 Active
21. 2025-12-05
    soldstatus $240,000
22. 2025-10-20
    historical
23. 2025-10-17
    price $239,900
24. 2025-10-13
    price $244,900
25. 2025-10-03
    price $249,900
26. 2025-09-29
    price $254,900
27. 2025-09-23
    listed $259,900 Active
28. 1995-10-04
    soldstatus $94,850

ⓘ 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: $951 · $79/mo
• Projected year-2 tax: $2,183 · $182/mo
• Expected delta: +$1,232/yr (+$103/mo · 129.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,442
• − Mortgage interest: −$14,732
• − Property taxes: −$951
• − Insurance: −$1,315
• − Repairs & maintenance: −$2,035
• − Management: −$2,035
• − Depreciation: −$7,651
• Taxable loss: −$3,278
• Est. tax savings @ 24.0%: +$787
• After-tax cash flow: $2,069/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 — New Port Richey East

• Score: 68/100
• State rank: #499
• US rank: #9203

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Port Richey East, FL
• County: Pasco County · 524,098 people
• City population: 36,086
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 35,945
• Household income: $49,563
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1439.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% Russian/Polish/Slavic 2%

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: ▼ -73.10%
• Current HPI: 324.6519
• Rent YoY: ▼ -2.92%
• 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

+182.6% since first listed

14 events — show timeline

• 2026-05-15 Price Changed $268,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $273,687 Stellar MLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $268,687 Stellar MLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $273,687 Stellar MLS as Distributed by MLS Grid
• 2026-03-15 Price Changed $296,687 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Listed $305,687 Stellar MLS as Distributed by MLS Grid
• 2025-12-05 Sold (Public Records) $240,000 Public Records
• 2025-10-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-17 Price Changed $239,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-13 Price Changed $244,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-03 Price Changed $249,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-29 Price Changed $254,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-23 Listed $259,900 Stellar MLS as Distributed by MLS Grid
• 1995-10-04 Sold (Public Records) $94,850 Public Records

Property tax history

+0.5%/yr

Latest (2025): $951 · +3.9% YoY. Source: county tax records.