12039 Noble Chase Path · Dade City, FL 33525

$290,490

5 bd · 2.5 ba · 2,112 sqft · SingleFamily · 1 Days on market

Built 2026 Good condition Est $359k · 19% under

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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 +18.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks

The first floor of this new two-story home is host to an open-concept layout that combines the kitchen with the living and dining areas, and an outdoor patio is easily reached off the main living space. Upstairs, five bedrooms surround a versatile loft, including the peaceful owner's suite, complete with a generous walk-in closet and en-suite bathroom.

Key facts

• Walk-in closet
• En-suite bathroom
• Outdoor patio

Tags

• OPEN-CONCEPT LAYOUT
• OUTDOOR PATIO
• VERSATILE LOFT
• WALK-IN CLOSET
• EN-SUITE BATHROOM

Property features AI

Finance

• Other: Address: 12039 Noble Chase Path, Dade City, FL 33525; Status: Active; Listing modified June 18, 2026
• Financial info: List price $290,490
• HOA & community:

Exterior

• Parking: 2 covered garage spaces (2 total parking spaces)
• Security:
• Utilities:
• Home design: Single-family spec home — Edison plan; Living area approximately 2,112
• Construction:
• Exterior features:

Interior

• Kitchen:
• Bedrooms: 5 bedrooms
• Flooring:
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Heating & cooling:
• Interior features: Open living areas
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $270 ($3k/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 $288k (0.7% below list).
• Recommended offer: $288k (0.7% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.6% in Dade City — 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 73/100 on livability (#307 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D+, 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: Rents rising (+3.0%/yr); 667 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).
• At $2,883/mo this rent would consume 50% of the median local household income ($69k/yr) (locally 322% 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 $9k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $288,339 (0.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.99% ✗
• Cap rate: 7.41%
• Cash-on-cash: 3.99%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $359,040
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12152 Stirrup Dr	0.42mi	4/3.0 (-1)	2,207 (+4%)	16mo	$375,000	$170	52
12228 Hilltop Farms Dr	0.40mi	4/3.0 (-1)	2,214 (+5%)	23mo	$379,990	$172	47
38403 Honeysuckle Dr	0.52mi	4/3.0 (-1)	2,260 (+7%)	19mo	$365,990	$162	41

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 · 3.02% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.63×
• Total profit: $-29,750
• Equity at exit: $43,313

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-3,318
• Equity at exit: $25,116

Cash invested: $81,337 (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 33525

• Home prices YoY: -15.4%
• Rents YoY: 3.0%
• Active inventory: 667
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,883 medium
• Mortgage (P&I): −$1,523
• Tax est. 1.5%: −$363 /mo · $4,357/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $270

Break-even live

Break-even rent $2,541

Max offer price $290,490

Occupancy floor 86%

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: $72,622
• Closing costs: $8,715
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12195 Stirrup Dr Dade City, FL	4.0	3.0	2711	$2,700	$1.00	24d	1	0.47mi
38459 Colwell Ct Dade City, FL	3.0–5.0	2.0–4.0	1988	$2,358	$1.19	1d	16	0.55mi

Listing history 2 events

1. 2026-06-18
   remarks 354-char remark
2. 2026-06-18
   listed $290,490 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 22 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,601
• − Mortgage interest: −$16,272
• − Property taxes: −$4,357
• − Insurance: −$1,452
• − Repairs & maintenance: −$2,768
• − Management: −$2,768
• − Depreciation: −$8,451
• Taxable loss: −$1,468
• Est. tax savings @ 24.0%: +$352
• After-tax cash flow: $3,597/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This two-story home features a modern open-concept layout and is in good condition, with minimal repairs needed. It offers a good investment opportunity with potential for value enhancement through minor updates.

Value-add opportunities

• Both Paint the exterior siding — Fresh paint can enhance curb appeal and property value
• Resale Replace the kitchen faucet — A new faucet can improve the kitchen's functionality and aesthetics
• Both Install smart home devices — Smart home devices can increase convenience and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Fresh paint can enhance curb appeal and property value ↑
• Resale Replace the kitchen faucet — A new faucet can improve the kitchen's functionality and aesthetics ↑
• Both Install smart home devices — Smart home devices can increase convenience and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Dade City

• Score: 73/100
• State rank: #307
• US rank: #5215

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dade City, FL
• County: Pasco County · 524,098 people
• City population: 21,077
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 21,077
• Household income: $69,068
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 322.0

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 16% Two or more races 7% Black 3%
• Hispanic origin (detail): Mexican 9% Puerto Rican 3%
• Common ancestry: Lithuanian 2% Romanian 2% Serbian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 87% English-only · Spanish 11% Other Asian/Pacific 1% Other Indo-European 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: ▼ -65.48%
• Current HPI: 358.2149
• Rent YoY: ▲ 3.02%
• 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