13917 3rd St · Dade City, FL 33525

$239,500

2 bd · 1.0 ba · 1,123 sqft · SingleFamily public records · 13 Days on market

Built 1951 9,278 sqft lot Est $255k · 6% under

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Why this score? — see what drove the D 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 +12.5/30.0
• ARV discount +10.2/15.0
• Schools +4.3/10.0
• DSCR +3.7/10.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Price reduced!! Location, Charm and opportunity meet in this 2-bedroom, 2 -bath completely updated block home just a short walk from beautiful, historic downtown Dade City. No CDD/HOA or Deed restriction and more than 9000 sq ft fenced lot with Rear screen Porch. Update includes Roof- 2025, Central A/C- 2025, New attic insulation and Ductwork- 2025, Electric Panel -2025, Kitchen -2026, Baths - 2026, Windows/Doors -2026, New PVC plumbing/Piping and electrical fixtures. Home comes with new stainless appliances including full size Washer and Dryer, Tankless water heater and many more upgrades. Master bedroom is ensuite with large walk-in closet. This property is an excellent opportunity for t

Key facts

• 9,278 sq ft lot
• Built 1951
• Listed 13 days

Property features AI

Finance

• Other: Unfurnished; No lease restrictions; Property zoned 0100R
• HOA & community: No HOA

Exterior

• Parking: Other parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity available and connected; High-speed internet available; Water available and connected; Sewer available and connected
• Home design: Single Family Residence; One story; South-facing
• Construction: Block construction; Shingle roof; Slab foundation; Built on a 0.21-acre lot
• Exterior features: Front porch; Rear porch; Screened porch; Chain link and wood fencing; City limits lot; Trees and landscaped yard; Asphalt road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Tankless water heater
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning
• Interior features: Living room and dining room combo; Walk-in closet(s); Blinds; Smoke detector(s)
• Laundry & utility: Washer hookup; Electric dryer hookup; Inside laundry room; Inside utility

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-33 ($-397/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (14.8% below list).
• Recommended offer: $204k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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-, 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.
• Zoned schools: Pasco Elementary School (math 29% / reading 30%, grade F, #1,896 of 2,144 statewide, top 90%, 586 students, 89% FRL); Pasco High School (math 40% / reading 40%, grade F, #296 of 667 statewide, top 45%, 1,639 students, 66% FRL) — zoned schools average 77% FRL vs 48% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 35% at this address vs 51% district-wide (-16 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.0%/yr); 667 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 35% of the median local income ($69k/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 $2k of loan paydown is wiped out by about $7k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $110k; list at $240k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• 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 $204,031 (14.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.85% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $254,921
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13924 Morgan St	0.29mi	3/1.0 (+1)	1,080 (-4%)	15mo	$110,000	$102	63
38011 Dixie Ave	0.40mi	3/2.0 (+1)	1,176 (+5%)	3mo	$193,405	$164	62
37720 Church Ave	0.43mi	2/1.5	1,040 (-7%)	14mo	$305,000	$293	54
13821 10th St	0.39mi	2/1.5	1,024 (-9%)	16mo	$257,000	$251	52
37722 Granada Ave	0.64mi	3/2.0 (+1)	1,144 (+2%)	9mo	$260,000	$227	51
13922 & 13924 12th St	0.48mi	2/1.0	1,290 (+15%)	15mo	$150,000	$116	40

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: -17.2%
• Equity multiple: 0.39×
• Total profit: $-40,852
• Equity at exit: $35,710

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-38,020
• Equity at exit: $20,708

Cash invested: $67,060 (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: 9.8×

Monthly cashflow live

• Estimated rent: $2,040 high
• Mortgage (P&I): −$1,256
• Tax from tax record: −$289 /mo · $3,470/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-33

Break-even live

Break-even rent $2,082

Max offer price $233,652

Occupancy floor 97%

Sensitivity live

Price	-10% $102	-5% $35	+0% $-33	+5% $-101	+10% $-169
Rent	-10% $-194	-5% $-114	+0% $-33	+5% $47	+10% $128
Rate	-1.0pp $88	-0.5pp $28	base $-33	+0.5pp $-95	+1.0pp $-158

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: $59,875
• Closing costs: $7,185
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13917 2nd St Dade City, FL	3.0	1.0	1312	$1,950	$1.49	25d	1	0.08mi
13650 5th St Dade City, FL	2.0	1.0	900	$1,350	$1.50	13d	1	0.21mi
38714 Island Ave Dade City, FL	3.0	2.0	864	$1,695	$1.96	25d	1	0.69mi
37540 Martin Luther King Blvd Unit A Dade City, FL	2.0	1.0	784	$1,200	$1.53	25d	1	0.77mi
37329 Magnolia Ave Unit 1234471P Dade City, FL	3.0	2.0	1216	$3,391	$2.79	5d	1	0.84mi
37802 Whitehouse Ave Dade City, FL	2.0	1.0	1344	$1,150	$0.86	24d	1	0.90mi
13921 19th St Unit 1234474P Dade City, FL	2.0	1.0	936	$2,013	$2.15	17d	1	0.99mi
37228 Grassy Hill Ln Unit 1 Dade City, FL	3.0	2.0	1212	$1,750	$1.44	3d	1	1.07mi
14635 State St Dade City, FL	3.0	1.5	1040	$1,761	$1.69	22d	1	1.08mi
37215 Grassy Hill Ln Dade City, FL	3.0	2.0	1212	$1,495	$1.23	25d	1	1.09mi
37135 Grassy Hill Ln Unit 1234475P Dade City, FL	3.0	2.0	1205	$3,535	$2.93	2d	1	1.15mi
37135 Grassy Hill Ln Unit 1 Dade City, FL	3.0	2.0	1212	$3,500	$2.89	25d	1	1.15mi
37132 Grassy Hill Ln Unit 1234477P Dade City, FL	3.0	2.0	1205	$3,594	$2.98	2d	1	1.16mi
37132 Grassy Hill Ln Unit 1 Dade City, FL	3.0	2.0	1212	$3,500	$2.89	25d	1	1.16mi

Listing history 9 events

1. 2026-06-18
   days on market $239,500 Active 13 DOM
2. 2026-06-17
   days on market $239,500 Active 12 DOM
3. 2026-06-16
   days on market $239,500 Active 11 DOM
4. 2026-06-15
   days on market $239,500 Active 10 DOM
5. 2026-06-13
   pricedays on market $239,500 Active 8 DOM
6. 2026-06-09
   days on market $249,500 Active 4 DOM
7. 2026-06-08
   days on market $249,500 Active 3 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $249,500 Active 2 DOM

ⓘ 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: $3,470 · $289/mo
• Projected year-2 tax: $3,470 · $289/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 · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,484
• − Mortgage interest: −$13,416
• − Property taxes: −$3,470
• − Insurance: −$1,198
• − Repairs & maintenance: −$1,959
• − Management: −$1,959
• − Depreciation: −$6,967
• Taxable loss: −$4,484
• Est. tax savings @ 24.0%: +$1,076
• After-tax cash flow: $679/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 — 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

Price history

+126.8% since first listed

2 events — show timeline

• 2026-06-05 Listed $249,500 Stellar MLS as Distributed by MLS Grid
• 2025-06-27 Sold (Public Records) $110,000 Public Records

Property tax history

+20.0%/yr

Latest (2025): $3,470 · +58.7% YoY. Source: county tax records.