4233 Gall Blvd · Zephyrhills South, FL 33452

$1,275,000

2 bd · 1.0 ba · 330 sqft · MultiFamily public records · 48 Days on market

Built 1987

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Cash-Flowing 14-Unit Mobile Home Park MHP | Zephyrhills FL | 11.76% CAPRATE 14-Unit Mobile Home Park & RV Park | $200K Income | Zephyrhills FL Property includes 2 single-family homes, 8 mobile homes, and 4 RV pads generating approximately $200,000 in annual income with additional upside potential. Immediate Upside Potential (~$10,000+ Increase) High-Visibility Location on Gall Blvd FEMA Zone X (Low Flood Risk) Consistently Strong Tenant Demand Fully Fenced Property with On-Site Management Turnkey Investment with Stable Cash Flow Property Overview This well-maintained mobile home park and rental portfolio is ideally located directly off Gall Blvd in the rapidly growing Zephyrhills mark

Key facts

• 30 parking spots
• Built 1987
• Listed 48 days

Property features AI

Finance

• Financial info: Electricity included with rent

Exterior

• Parking: 30 parking spaces
• Utilities: Public sewer; Cable available
• Home design: Single-story property; Resale home
• Construction: Block, frame, and manufactured construction; Shingle roof
• Exterior features: Less than one acre lot; Zoned C2

Interior

• Flooring: Carpet; Ceramic tile
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Carpet and ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $1.27M.

Deal economics

• At list price, monthly cash flow is $6k ($74k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.27M).
• Recommended offer: $1.24M (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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, schools F, amenities 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.
• Market conditions: 1 active listings in the ZIP; 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).

Forward outlook

• In year one you build about $47k of equity ($9k loan paydown + $38k appreciation (3.0% local appreciation)).
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $357k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($1.24M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.
• Current owner paid $125k; list at $1.27M implies a 920% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $1,236,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 12.08%
• Cash-on-cash: 20.68%
• DSCR: 1.92
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.9%
• Equity multiple: 2.53×
• Total profit: $544,995
• Equity at exit: $573,295

10-year hold

• IRR: 27.5%
• Equity multiple: 4.90×
• Total profit: $1,390,609
• Equity at exit: $883,516

Cash invested: $357,000 (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 33452

• Active inventory: 1
• Price-to-rent: 84.9×

Monthly cashflow live

• Estimated rent: $17,518 high
• Mortgage (P&I): −$6,686
• Tax from tax record: −$470 /mo · $5,636/yr
• Insurance: −$531
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,679
• Net cashflow: $6,152

Break-even live

Break-even rent $9,731

Max offer price $1,275,000

Occupancy floor 60%

14-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 14× units	1	1	$17,514
Total (14 units)			$17,518

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: $318,750
• Closing costs: $38,250
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-08
   listed $1,275,000 Active
2. 2023-11-18
   historical $1,000
3. 2023-11-01
   listed $1,000
4. 2022-03-31
   price $250
5. 2010-09-01
   soldstatus $125,000
6. 2009-10-09
   soldstatus $100
7. 2005-11-04
   soldstatus $450,000
8. 2001-01-10
   soldstatus $74,400

ⓘ 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: $5,636 · $470/mo
• Projected year-2 tax: $10,582 · $882/mo
• Expected delta: +$4,947/yr (+$412/mo · 87.8%)

ⓘ 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 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: $210,216
• − Mortgage interest: −$71,420
• − Property taxes: −$5,636
• − Insurance: −$6,375
• − Repairs & maintenance: −$16,817
• − Management: −$16,817
• − Depreciation: −$37,091
• Taxable income: $56,060
• Est. tax owed @ 24.0%: −$13,454
• After-tax cash flow: $60,370/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+1613.7% since first listed

8 events — show timeline

• 2026-04-08 Listed $1,275,000 MARMLS
• 2023-11-18 Rental Removed $1,000 APPFOLIO
• 2023-11-01 Listed for Rent $1,000 APPFOLIO
• 2022-03-31 Price Changed $250 APPFOLIO
• 2010-09-01 Sold (Public Records) $125,000 Public Records
• 2009-10-09 Sold (Public Records) $100 Public Records
• 2005-11-04 Sold (Public Records) $450,000 Public Records
• 2001-01-10 Sold (Public Records) $74,400 Public Records

Property tax history

+13.3%/yr

Latest (2025): $5,636 · -0.8% YoY. Source: county tax records.