37605 Amigo Dr · Pasadena Hills, FL 33541

$116,000

2 bd · 2.0 ba · 1,300 sqft · Manufactured public records · 264 Days on market

Built 1988 5,753 sqft lot Est $169k · 31% under $142/mo HOA · 8% of rent ↓ 5% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Spanish Trails West 2 Bedroom | 2 Bath | Corner Lot with Pond View Enjoy Florida living in this spacious home featuring a lovely pond view and a patio perfect for morning coffee or evening relaxation. Located in the desirable Spanish Trails West 55+ community, this property offers: • HOA covering cable, internet, trash, and lawn care • Community pool, clubhouse, and recreation facilities • Close to shopping, dining, and hospitals • No lot rent – you own the land New roof !

Key facts

• Pond view
• Clubhouse
• Community pool

Tags

• CORNER LOT
• POND VIEW
• COMMUNITY POOL
• CLUBHOUSE
• RECREATION FACILITIES
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Lease restrictions apply
• HOA & community: Monthly association fee of $142 (includes cable TV, pool, internet, grounds maintenance, trash); Association approval required; Community clubhouse and pool; Deed restrictions; Golf carts allowed; Dogs allowed; Senior community

Exterior

• Parking: Has carport (1 space)
• Utilities: Public water; Public sewer; Electricity available
• Home design: Manufactured home (double wide); Single-story; Faces east
• Construction: Vinyl siding; Shingle roof; Built on crawlspace foundation
• Exterior features: Porch; Other exterior features; Paved road access

Interior

• Kitchen: Range
• Bedrooms: 2 bedrooms (1 story)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room / dining room combo; Open floorplan
• Laundry & utility: Washer hookup; Crawlspace foundation access

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $116k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• Recommended offer: $102k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 3.7% in Pasadena Hills — 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 63/100 on livability (#723 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: schools F, 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.
• Market conditions: Rents soft (-2.5%/yr); 856 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• This rent runs 39% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $802 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 264 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 264 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
6. 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.
7. 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.
8. 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: 1.59% ✓
• Cap rate: 11.63%
• Cash-on-cash: 19.07%
• DSCR: 1.85
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $169,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37501 Campo Ave	0.20mi	2/2.0	1,296 (-0%)	2mo	$140,000	$108	89
7109 EL Matador St	0.18mi	2/2.0	1,332 (+2%)	9mo	$128,000	$96	80
37539 Rio Ln	0.15mi	2/2.0	1,344 (+3%)	14mo	$175,000	$130	76
37611 Amigo Dr	0.01mi	2/2.0	1,196 (-8%)	14mo	$140,000	$117	75
37526 Rio Ln	0.13mi	2/2.0	1,448 (+11%)	3mo	$180,000	$124	72
37642 Amigo Dr	0.06mi	3/2.0 (+1)	1,204 (-7%)	14mo	$156,000	$130	68
7131 EL Dewitt St	0.23mi	2/2.0	1,440 (+11%)	6mo	$150,000	$104	66
37838 Barcelona Ave	0.26mi	2/2.0	1,128 (-13%)	4mo	$136,000	$121	63
37652 New Horizons Blvd	0.59mi	2/2.0	1,396 (+7%)	3mo	$240,000	$172	58
37635 Gill Ave	0.73mi	2/2.0	1,407 (+8%)	3mo	$217,000	$154	50
37510 New Horizons Blvd	0.63mi	3/2.0 (+1)	1,488 (+14%)	2mo	$215,000	$144	40
37551 Gill Ave	0.73mi	3/2.0 (+1)	1,488 (+14%)	9mo	$235,000	$158	29

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: 7.2%
• Equity multiple: 1.27×
• Total profit: $8,798
• Equity at exit: $17,296

10-year hold

• IRR: 13.4%
• Equity multiple: 1.91×
• Total profit: $29,606
• Equity at exit: $10,030

Cash invested: $32,480 (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 33541

• Home prices YoY: -15.2%
• Rents YoY: -2.5%
• Active inventory: 856
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,840 high
• Mortgage (P&I): −$608
• Tax from tax record: −$139 /mo · $1,666/yr
• Insurance: −$48
• HOA: −$142
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $516

Break-even live

Break-even rent $1,187

Max offer price $116,000

Occupancy floor 67%

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: $29,000
• Closing costs: $3,480
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37814 Daughtery Rd Zephyrhills, FL	2.0	1.0	1070	$1,395	$1.30	5d	1	0.20mi
6633 Foxmoor Dr Zephyrhills, FL	3.0	2.0	1300	$2,000	$1.54	24d	1	0.62mi
6335 Maisie Rd Zephyrhills, FL	3.0	2.5	1363	$1,650	$1.21	20d	1	0.70mi
6262 Maisie Rd Zephyrhills, FL	3.0	2.5	1363	$1,700	$1.25	24d	1	0.75mi
6246 Timberly Ln Zephyrhills, FL	3.0	2.5	1363	$1,900	$1.39	24d	1	0.76mi
37732 Cecil Ln Zephyrhills, FL	3.0	1.0	1040	$1,800	$1.73	24d	1	0.77mi
37661 Aaralyn Rd Zephyrhills, FL	3.0	2.5	1363	$1,800	$1.32	24d	1	0.77mi
6249 Maisai Rd #6 Zephyrhills, FL	3.0	2.5	1561	$1,550	$0.99	2d	1	0.77mi
7660 Emerson Hill Cir Zephyrhills, FL	1.0–3.0	1.0–2.0	1077	$1,964	$1.82	1d	34	0.78mi
38350 Ironwood Pl #5 Zephyrhills, FL	2.0	2.0	1094	$1,800	$1.65	24d	1	0.83mi
6302 Abbott Station Dr Zephyrhills, FL	3.0	1.0–2.5	855	$1,732	$2.02	1d	142	0.84mi
6773 Branham Mill Ct Zephyrhills, FL	3.0	2.0	1454	$1,950	$1.34	24d	1	0.85mi
6788 Basswood Cir Zephyrhills, FL	2.0	2.0	1067	$1,250	$1.17	24d	1	0.88mi
6195 Daerr Ridge St Zephyrhills, FL	3.0	2.5	1386	$2,000	$1.44	17d	1	0.97mi
7064 Ripple Pond Loop Zephyrhills, FL	3.0	2.5	1787	$2,047	$1.15	14d	1	0.97mi
38300 Henry Dr Zephyrhills, FL	2.0	1.0	1152	$1,650	$1.43	5d	1	1.06mi
6136 Pina Colada St Zephyrhills, FL	3.0	2.5	1386	$2,100	$1.52	12d	1	1.06mi
37812 15th Ave Zephyrhills, FL	2.0	2.0	1000	$1,850	$1.85	24d	1	1.30mi
36507 Camp Fire Ter Zephyrhills, FL	3.0	2.0	1537	$2,500	$1.63	24d	1	1.36mi
8313 Wheat Stone Dr Zephyrhills, FL	3.0	2.0	1864	$2,275	$1.22	24d	1	1.39mi
36403 Well Hill Way Zephyrhills, FL	3.0	2.5	1528	$2,200	$1.44	24d	1	1.43mi
36406 Well Hill Way Zephyrhills, FL	3.0	2.5	1634	$2,000	$1.22	17d	1	1.44mi
36401 Camp Fire Ter Unit 36401 Zephyrhills, FL	3.0	2.5	1634	$1,895	$1.16	20d	1	1.45mi
36352 Well Hill Way Zephyrhills, FL	3.0	2.5	1634	$1,950	$1.19	2d	1	1.48mi

HOA detail

• Monthly dues: $142 · $1,704/yr
• Likely covers: trashinternetcablelandscapingpool

Listing history 17 events

1. 2026-06-18
   days on market $116,000 Active 264 DOM
2. 2026-06-17
   days on market $116,000 Active 263 DOM
3. 2026-06-16
   days on market $116,000 Active 262 DOM
4. 2026-06-15
   days on market $116,000 Active 261 DOM
5. 2026-06-13
   days on market $116,000 Active 259 DOM
6. 2026-06-09
   days on market $116,000 Active 255 DOM
7. 2026-06-08
   days on market $116,000 Active 254 DOM
8. 2026-06-07
   days on market $116,000 Active 253 DOM
9. 2026-06-04
   days on market $116,000 Active 250 DOM
10. 2026-06-03
    days on market $116,000 Active 249 DOM
11. 2026-06-02
    days on market $116,000 Active 248 DOM
12. 2026-06-01
    days on market $116,000 Active 247 DOM
13. 2026-05-31
    days on market $116,000 Active 246 DOM
14. 2026-03-26
    status Active
15. 2026-03-25
    historical
16. 2025-12-15
    price $116,000
17. 2025-09-26
    listed $122,000 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: $1,666 · $139/mo
• Projected year-2 tax: $1,666 · $139/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 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 · 25 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,081
• − Mortgage interest: −$6,498
• − Property taxes: −$1,666
• − Insurance: −$580
• − Repairs & maintenance: −$1,766
• − Management: −$1,766
• − HOA: −$1,704
• − Depreciation: −$3,375
• Taxable income: $4,726
• Est. tax owed @ 24.0%: −$1,134
• After-tax cash flow: $5,060/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 — Pasadena Hills

• Score: 63/100
• State rank: #723
• US rank: #15499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pasadena Hills, FL
• County: Pasco County · 524,098 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 24,654
• Household income: $56,579
• Rent vs Own: 14.0% rent · 86.0% own
• Severe rent burden: 393.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 8% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 9%
• Common ancestry: Lithuanian 4% Romanian 3% Serbian 3%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 9% Tagalog/Filipino 1% Other Asian/Pacific 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: ▼ -55.21%
• Current HPI: 308.0619
• Rent YoY: ▼ -2.51%
• 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

-4.9% since first listed

4 events — show timeline

• 2026-03-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-12-15 Price Changed $116,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-26 Listed $122,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2025): $1,666 · +4.5% YoY. Source: county tax records.