36845 Virginia Ave · Dade City, FL 33523

$279,900

4 bd · 2.0 ba · 1,958 sqft · SingleFamily public records · 82 Days on market

Built 1971 0.34 ac lot Est $350k · 20% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +13.3/30.0
• Appreciation +10.0/10.0
• Schools +4.3/10.0
• DSCR +4.0/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

remodeled 4 bedroom 2 bath house on "Tank Hill" in Dade City. Close to downtown shopping, restaurants, schools, and medical. New drywall throughout, completely new bathrooms, kitchen lighting fixtures. Counter tops in kitchen and master bath are Quartz with soft close doors and drawers. New paint interior and exterior. Updated electric. Large two car carport with additional parking for boat or trailer on the side. Additional storage area inside with garage door. This home is move-in ready!

Key facts

• New wiring
• New duct work
• New electrical panel

Tags

• HISTORIC TANK HILL AREA
• BRICK STREETS
• CLOSE TO DOWNTOWN SHOPPING
• NEW WIRING
• NEW ELECTRICAL PANEL
• NEW DUCT WORK

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $1 ($7/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 $229k (18.3% below list).
• Recommended offer: $229k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: San Antonio Elementary School (math 49% / reading 52%, grade D+, #1,055 of 2,144 statewide, top 50%, 573 students, 50% FRL); Pasco Middle School (math 38% / reading 38%, grade F, #388 of 571 statewide, top 69%, 903 students, 73% FRL); Pasco High School (math 40% / reading 40%, grade F, #296 of 667 statewide, top 45%, 1,639 students, 66% FRL).
• Market conditions: 295 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 19y ago; this cycle's ask has dropped $35k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $185k; list at $280k implies a 51% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,657 (18.3% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 0.82% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.01%
• DSCR: 1.00
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $350,482
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37152 Howard Ave	0.49mi	4/2.0	1,872 (-4%)	7mo	$330,000	$176	64
37136 Meridian Ave	0.32mi	3/2.0 (-1)	1,830 (-6%)	6mo	$415,000	$227	64
37284 Main Ave	0.46mi	4/2.0	1,823 (-7%)	7mo	$399,900	$219	61
14393 Stresa Ave	0.62mi	4/2.0	1,824 (-7%)	2mo	$301,940	$166	58
13797 Wineberry Dr	0.67mi	4/2.5	2,046 (+4%)	8mo	$377,000	$184	52
37420 Magnolia Ave	0.57mi	3/2.0 (-1)	1,763 (-10%)	3mo	$279,900	$159	50
13757 Wineberry Dr	0.73mi	4/2.5	2,079 (+6%)	12mo	$372,000	$179	43
13734 Whiskey Daisy Dr	0.65mi	4/2.5	2,238 (+14%)	8mo	$337,680	$151	37
13686 Whiskey Daisy Dr	0.69mi	4/2.5	2,238 (+14%)	8mo	$340,000	$152	36
13727 Whiskey Daisy Dr	0.66mi	4/2.5	2,238 (+14%)	11mo	$337,680	$151	34
36941 Blanton Rd	0.72mi	3/2.0 (-1)	1,716 (-12%)	13mo	$356,000	$207	30
13756 Wineberry Dr	0.71mi	3/2.0 (-1)	1,690 (-14%)	19mo	$328,000	$194	24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.95×
• Total profit: $152,434
• Equity at exit: $252,156

10-year hold

• IRR: 21.5%
• Equity multiple: 6.73×
• Total profit: $448,775
• Equity at exit: $543,784

Cash invested: $78,372 (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 33523

• Home prices YoY: 3.8%
• Active inventory: 295
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,287 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$221 /mo · $2,656/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $1

Break-even live

Break-even rent $2,286

Max offer price $279,900

Occupancy floor 95%

Sensitivity live

Price	-10% $159	-5% $80	+0% $1	+5% $-79	+10% $-158
Rent	-10% $-180	-5% $-90	+0% $1	+5% $91	+10% $181
Rate	-1.0pp $142	-0.5pp $72	base $1	+0.5pp $-72	+1.0pp $-146

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13576 Whiskey Daisy Dr Dade City, FL	4.0	2.5	2238	$2,500	$1.12	1d	1	0.79mi
14907 Lucca Way Unit 1 Dade City, FL	3.0	2.5	1386	$2,100	$1.52	26d	1	0.86mi
36111 Canelli Way Dade City, FL	4.0	2.0	2008	$2,295	$1.14	4d	1	0.88mi
36350 Spanish Rose Dr Dade City, FL	4.0	2.0	1828	$2,149	$1.18	6d	1	0.89mi
13917 2nd St Dade City, FL	3.0	1.0	1312	$1,950	$1.49	26d	1	1.35mi
36169 Trinity Glade Rd Dade City, FL	4.0	2.5	2181	$2,600	$1.19	13d	1	1.39mi
36132 Trinity Glade Rd Dade City, FL	3.0	2.0	1515	$2,425	$1.60	16d	1	1.43mi
12945 Ogden Glade Rd Dade City, FL	4.0	2.0	1815	$2,195	$1.21	19d	1	1.45mi

Listing history 24 events

1. 2026-04-25
   status Pending
2. 2026-03-25
   price $279,900
3. 2026-02-26
   price $299,900
4. 2026-02-01
   listed $315,000 Active
5. 2016-08-02
   soldstatus $185,000
6. 2016-07-29
   soldstatus $185,000 Sold 504-char remark

   Show marketing remark (504 chars)

   remodeled 4 bedroom 2 bath house on "Tank Hill" in Dade City. Close to downtown shopping, restaurants, schools, and medical. New drywall throughout, completely new bathrooms, kitchen lighting fixtures. Counter tops in kitchen and master bath are Quartz with soft close doors and drawers. New paint interior and exterior. Updated electric. Large two car carport with additional parking for boat or trailer on the side. Additional storage area inside with garage door. This home is move-in ready!

7. 2016-05-23
   historical Active with Contract 504-char remark

   Show marketing remark (504 chars)

   remodeled 4 bedroom 2 bath house on "Tank Hill" in Dade City. Close to downtown shopping, restaurants, schools, and medical. New drywall throughout, completely new bathrooms, kitchen lighting fixtures. Counter tops in kitchen and master bath are Quartz with soft close doors and drawers. New paint interior and exterior. Updated electric. Large two car carport with additional parking for boat or trailer on the side. Additional storage area inside with garage door. This home is move-in ready!

8. 2016-04-20
   listed $189,900 Active 504-char remark

   Show marketing remark (504 chars)

   remodeled 4 bedroom 2 bath house on "Tank Hill" in Dade City. Close to downtown shopping, restaurants, schools, and medical. New drywall throughout, completely new bathrooms, kitchen lighting fixtures. Counter tops in kitchen and master bath are Quartz with soft close doors and drawers. New paint interior and exterior. Updated electric. Large two car carport with additional parking for boat or trailer on the side. Additional storage area inside with garage door. This home is move-in ready!

9. 2015-11-20
   soldstatus $82,500 356-char remark

   Show marketing remark (356 chars)

   Tremendous value is offered with this three bedroom two bath home right in the historic district of Dade City, Florida. Home includes tile floor throughout entire home. The home is located on a nice brick road surrounded by well-maintained properties. Huge potential with very limited finishing touches needed for someone ready to make this home their own.

10. 2015-11-20
    soldstatus $82,500 Sold

    Show marketing remark (356 chars)

    Tremendous value is offered with this three bedroom two bath home right in the historic district of Dade City, Florida. Home includes tile floor throughout entire home. The home is located on a nice brick road surrounded by well-maintained properties. Huge potential with very limited finishing touches needed for someone ready to make this home their own.

11. 2015-11-20
    soldstatus $82,500

    Show marketing remark (356 chars)

    Tremendous value is offered with this three bedroom two bath home right in the historic district of Dade City, Florida. Home includes tile floor throughout entire home. The home is located on a nice brick road surrounded by well-maintained properties. Huge potential with very limited finishing touches needed for someone ready to make this home their own.

12. 2015-11-20
    soldstatus $82,500

    Show marketing remark (356 chars)

    Tremendous value is offered with this three bedroom two bath home right in the historic district of Dade City, Florida. Home includes tile floor throughout entire home. The home is located on a nice brick road surrounded by well-maintained properties. Huge potential with very limited finishing touches needed for someone ready to make this home their own.

13. 2015-10-26
    status Pending
14. 2015-10-08
    status Active
15. 2015-09-21
    status Pending
16. 2015-08-20
    listed $99,900 Active
17. 2015-08-19
    listed $99,900 356-char remark

    Show marketing remark (356 chars)

    Tremendous value is offered with this three bedroom two bath home right in the historic district of Dade City, Florida. Home includes tile floor throughout entire home. The home is located on a nice brick road surrounded by well-maintained properties. Huge potential with very limited finishing touches needed for someone ready to make this home their own.

18. 2015-08-19
    listed $99,900

    Show marketing remark (356 chars)

    Tremendous value is offered with this three bedroom two bath home right in the historic district of Dade City, Florida. Home includes tile floor throughout entire home. The home is located on a nice brick road surrounded by well-maintained properties. Huge potential with very limited finishing touches needed for someone ready to make this home their own.

19. 2011-06-06
    historical
20. 2011-01-21
    listed $139,900
21. 2011-01-14
    historical
22. 2008-03-25
    listed $139,900
23. 2008-03-25
    historical
24. 2007-03-27
    listed $178,500

ⓘ 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: $2,656 · $221/mo
• Projected year-2 tax: $2,656 · $221/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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,439
• − Mortgage interest: −$15,679
• − Property taxes: −$2,656
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,195
• − Management: −$2,195
• − Depreciation: −$8,143
• Taxable loss: −$4,828
• Est. tax savings @ 24.0%: +$1,159
• After-tax cash flow: $1,166/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
• City population: 21,077
• Population (ZIP): 19,296

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 57% Hispanic / Latino 28% Black 10% Two or more races 10% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 5% Slovak 1% Romanian 1%
• Foreign-born: 13% · Canada, China, Jamaica
• Languages at home: 75% English-only · Spanish 21% Other Indo-European 2% Chinese 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: ▲ 16.36%
• Current HPI: 448.7
• 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

+56.8% since first listed

24 events — show timeline

• 2026-04-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $279,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $299,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-01 Listed $315,000 Stellar MLS as Distributed by MLS Grid
• 2016-08-02 Sold (Public Records) $185,000 Public Records
• 2016-07-29 Sold (MLS) $185,000 Stellar MLS as Distributed by MLS Grid
• 2016-05-23 Contingent — Stellar MLS as Distributed by MLS Grid
• 2016-04-20 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2015-11-20 Sold (Public Records) $82,500 Public Records
• 2015-11-20 Sold (MLS) $82,500 St. Augustine and St. Johns County Board of REALTORS®
• 2015-11-20 Sold (MLS) $82,500 Stellar MLS as Distributed by MLS Grid
• 2015-11-20 Sold (MLS) $82,500 HCAR
• 2015-10-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-10-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2015-09-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-08-20 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2015-08-19 Listed $99,900 St. Augustine and St. Johns County Board of REALTORS®
• 2015-08-19 Listed $99,900 HCAR
• 2011-06-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2011-01-21 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 2011-01-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-03-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-03-25 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 2007-03-27 Listed $178,500 Stellar MLS as Distributed by MLS Grid

Property tax history

+0.0%/yr

Latest (2025): $2,656 · +2.0% YoY. Source: county tax records.