14606 Coral Dr

Hudson, FL 34667

$75,000B-

3 bd · 2.0 ba · 728 sqft · Built 1982 · Manufactured · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,122/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$552
• HOA: −$0
• Vac / Maint / Mgmt: −$446
• Net cashflow: $731/mo
• Annual: $8,770/yr
• Cap rate: 24.81%
• Cash-on-cash: 66.13%
• DSCR: 3.94
• 1% rule: 2.83%
• Cash to close: $21,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $75k.
• At list price, monthly cash flow is $731 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#289 in FL, #4,856 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, employment D, 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: Hudson Primary Academy (math 29% / reading 31%, grade F, #1,882 of 2,144 statewide, top 88%, 647 students, 90% FRL); Hudson High School (math 45% / reading 40%, grade F, #264 of 667 statewide, top 41%, 1,387 students, 66% FRL) — zoned schools average 78% FRL vs 48% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 51% district-wide (-15 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents soft (-2.3%/yr); 799 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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.
• Cap rate 24.8% vs local median 3.4% in Hudson — 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.
• At $2,122/mo this rent would consume 50% of the median local household income ($51k/yr) (locally 946% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.