6709 Timbercove Ln #6709 · New Port Richey, FL 34653

$119,000

2 bd · 2.0 ba · 1,024 sqft · Condo public records · 199 Days on market

Built 1983 $356/mo HOA · 23% of rent

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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 +19.8/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW PORT RICHEYS BEST KEPT SECRET 55 PLUS , NO DOGS ONE CAT OK, NO MOTORCYLES, VERY CLEAN, WATER VIEW. CALL NOW.

Key facts

• Newer french door
• Water softener
• Hot water heater

Tags

• STUNNING VIEW OF THE POND
• INSIDE LAUNDRY
• NEWER WINDOWS
• NEWER FRENCH DOOR
• WATER SOFTENER
• HOT WATER HEATER

Property features AI

Finance

• Other: Condo is on floor 1; Homestead: Yes
• Financial info: Total monthly association fees $356 (total annual fees $4,272); Lease restrictions apply
• HOA & community: HOA managed by Qualified Property Management; Monthly HOA fee of $356 (includes cable TV, pool, maintenance of structure and grounds, recreational facilities); Association approval required; Association amenities: Clubhouse, Laundry, Maintenance, Pickleball court(s), Pool, Shuffleboard court, Tennis court(s), Wheelchair access, Cable TV; Community features: Association-owned recreation, Buyer approval required, Clubhouse, Community mailbox, Deed restrictions, Golf carts allowed, Pool, Tennis courts, Wheelchair access; Pets allowed with restrictions (cats OK, breed restrictions, max pet weight 35 lbs); Furnished unit

Exterior

• Utilities: Public sewer; Cable available; Water source: See remarks
• Home design: Residential condominium; Single-story (One level); Faces south
• Construction: Block construction; Shingle roof; Slab foundation; Building number 6709
• Exterior features: Asphalt road surface

Interior

• Kitchen: Built-In Oven; Cooktop; Range; Dishwasher; Refrigerator; Electric Water Heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Attic; No additional interior features listed
• Laundry & utility: Washer; Dryer; Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $75 ($904/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.0% in New Port Richey — 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 82/100 on livability (#67 in FL, #1,139 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, commute D, employment 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 (-2.9%/yr); 305 active listings in the ZIP; 40 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 37% of the median local income ($50k/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 $823 of loan paydown is wiped out by about $4k 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

• It's been on market 199 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $26k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 23% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.28% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.44×
• Total profit: $-18,735
• Equity at exit: $17,743

10-year hold

• IRR: -17.9%
• Equity multiple: 0.20×
• Total profit: $-26,523
• Equity at exit: $10,289

Cash invested: $33,320 (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 34653

• Home prices YoY: -18.4%
• Rents YoY: -2.9%
• Active inventory: 305
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,523 high
• Mortgage (P&I): −$624
• Tax from tax record: −$32 /mo · $378/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$356
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $75

Break-even live

Break-even rent $1,427

Max offer price $119,000

Occupancy floor 90%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5822 Congress St #104 New Port Richey, FL	2.0	2.0	920	$1,650	$1.79	24d	1	0.32mi
5816 Congress St New Port Richey, FL	2.0	2.0	920	$1,400	$1.52	24d	1	0.35mi
6430 Polk St New Port Richey, FL	3.0	2.0	1270	$1,800	$1.42	22d	1	0.38mi
6332 Pennsylvania Ave New Port Richey, FL	2.0	1.0	962	$1,250	$1.30	20d	1	0.44mi
6332 Pennsylvania Ave New Port Richey, FL	2.0	1.0	920	$1,250	$1.36	24d	1	0.44mi
6635 Crossbow Ln New Port Richey, FL	2.0	2.0	1082	$1,695	$1.57	18d	1	0.46mi
6322 Alaska Ave New Port Richey, FL	2.0	1.0	720	$1,500	$2.08	24d	1	0.48mi
6721 Congress St New Port Richey, FL	2.0	1.0	830	$1,250	$1.51	24d	1	0.54mi
6447 Eric Dr New Port Richey, FL	2.0	2.0	1133	$1,400	$1.24	24d	1	0.59mi
6405 Eric Dr New Port Richey, FL	2.0	2.0	1133	$1,400	$1.24	24d	1	0.62mi
6029 Wyoming Ave New Port Richey, FL	2.0	1.0	792	$1,850	$2.34	24d	1	0.67mi
5847 Nebraska Ave New Port Richey, FL	1.0	1.0	900	$1,350	$1.50	24d	1	0.83mi
6548 Batea Ter New Port Richey, FL	3.0	2.0	1120	$1,800	$1.61	24d	1	0.83mi
7039 Lenox Dr New Port Richey, FL	3.0	2.0	1300	$1,795	$1.38	12d	1	0.83mi
5805 Delaware Ave New Port Richey, FL	2.0	1.0	700	$1,250	$1.79	24d	1	0.88mi
7140 Bellaire Ter New Port Richey, FL	2.0	1.0	776	$1,350	$1.74	24d	1	0.92mi
7138 Bellaire Ter New Port Richey, FL	2.0	1.0	776	$1,350	$1.74	24d	1	0.92mi
5741 Tennessee Ave New Port Richey, FL	1.0	1.0	700	$1,200	$1.71	24d	1	0.95mi
5640 Ferguson Ct #2101 New Port Richey, FL	2.0	2.0	1056	$1,650	$1.56	24d	1	0.96mi
5551 Executive Dr New Port Richey, FL	2.0	2.0	1100	$1,459	$1.33	24d	1	0.96mi
6332 Grand Blvd Port Richey, FL	2.0	2.0	894	$1,950	$2.18	5d	2	0.96mi
5543 Executive Dr Unit B4 New Port Richey, FL	2.0	2.0	1000	$1,459	$1.46	24d	1	0.97mi
5809 Dailey Ln New Port Richey, FL	2.0	1.0	950	$1,000	$1.05	24d	1	0.98mi
5800 Virginia Ave New Port Richey, FL	2.0	1.0	900	$1,495	$1.66	20d	1	0.99mi
5800 Virginia Ave New Port Richey, FL	2.0	1.0	900	$1,550	$1.72	12d	1	0.99mi
5521 Executive Dr Unit D1 New Port Richey, FL	2.0	2.0	1000	$1,379	$1.38	24d	1	1.00mi
5511 Executive Dr Apt E1 New Port Richey, FL	2.0	2.0	1000	$1,459	$1.46	24d	1	1.01mi
5165 Greenwood St New Port Richey, FL	3.0	2.0	1390	$2,400	$1.73	5d	1	1.05mi
5930 Meadowlane St Unit 2 New Port Richey, FL	3.0	2.0	1259	$1,900	$1.51	24d	1	1.08mi
5159 Idlewild St New Port Richey, FL	2.0	2.0	1349	$1,650	$1.22	2d	1	1.08mi
5743 Elm St New Port Richey, FL	2.0	1.0	756	$1,200	$1.59	5d	1	1.14mi
5037 School Rd New Port Richey, FL	3.0	2.0	1337	$2,450	$1.83	24d	1	1.16mi
5648 Townhouse Dr New Port Richey, FL	2.0	1.5	900	$1,495	$1.66	24d	1	1.16mi
6921 Washington St Unit 3Apt 3 Port Richey, FL	2.0	1.0	750	$1,269	$1.69	20d	1	1.18mi
6807 Porter Rd Unit PCG G-101 New Port Richey, FL	3.0	1.5	1080	$1,375	$1.27	5d	1	1.21mi
6807 Porter Rd Unit PCG G-203 New Port Richey, FL	2.0	1.0	770	$1,275	$1.66	5d	1	1.21mi
6807 Porter Rd Unit PBMP M-5826 New Port Richey, FL	2.0	1.0	800	$1,380	$1.73	24d	1	1.21mi
6807 Porter Rd Unit PGC C-5432-105 New Port Richey, FL	2.0	2.0	895	$1,360	$1.52	24d	1	1.21mi
6807 Porter Rd Unit PGC C-5432-209 New Port Richey, FL	2.0	2.0	1100	$1,300	$1.18	18d	1	1.21mi
6807 Porter Rd Unit PBMP M-5836 New Port Richey, FL	2.0	1.0	840	$1,475	$1.76	24d	1	1.21mi

HOA detail condo

• Monthly dues: $356 · $4,272/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $119,000 Active 199 DOM
2. 2026-06-17
   days on market $119,000 Active 198 DOM
3. 2026-06-16
   days on market $119,000 Active 197 DOM
4. 2026-06-15
   days on market $119,000 Active 196 DOM
5. 2026-06-13
   days on market $119,000 Active 194 DOM
6. 2026-06-09
   days on market $119,000 Active 190 DOM
7. 2026-06-08
   days on market $119,000 Active 189 DOM
8. 2026-06-08
   price $119,000 Active 188 DOM
9. 2026-06-07
   days on market $124,900 Active 188 DOM
10. 2026-06-04
    days on market $124,900 Active 185 DOM
11. 2026-06-03
    days on market $124,900 Active 184 DOM
12. 2026-06-02
    days on market $124,900 Active 183 DOM
13. 2026-06-01
    days on market $124,900 Active 182 DOM
14. 2026-05-31
    days on market $124,900 Active 181 DOM
15. 2026-03-25
    price $124,900
16. 2026-02-26
    status Active
17. 2026-02-26
    status Pending
18. 2026-02-23
    price $129,900
19. 2026-02-13
    price $135,900
20. 2026-01-13
    price $139,900
21. 2025-11-30
    listed $145,000 Active
22. 2006-02-02
    soldstatus $109,000
23. 2006-01-27
    soldstatus $109,000 112-char remark

    Show marketing remark (112 chars)

    NEW PORT RICHEYS BEST KEPT SECRET 55 PLUS , NO DOGS ONE CAT OK, NO MOTORCYLES, VERY CLEAN, WATER VIEW. CALL NOW.

24. 2005-11-15
    listed $110,000 112-char remark

    Show marketing remark (112 chars)

    NEW PORT RICHEYS BEST KEPT SECRET 55 PLUS , NO DOGS ONE CAT OK, NO MOTORCYLES, VERY CLEAN, WATER VIEW. CALL NOW.

25. 2001-04-03
    soldstatus $45,000

ⓘ 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: $378 · $32/mo
• Projected year-2 tax: $988 · $82/mo
• Expected delta: +$609/yr (+$51/mo · 161.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 29 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: $18,273
• − Mortgage interest: −$6,666
• − Property taxes: −$378
• − Insurance: −$1,392
• − Repairs & maintenance: −$1,462
• − Management: −$1,462
• − HOA: −$4,272
• − Depreciation: −$3,462
• Taxable loss: −$821
• Est. tax savings @ 24.0%: +$197
• After-tax cash flow: $1,102/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 — New Port Richey

• Score: 82/100
• State rank: #67
• US rank: #1139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Port Richey, FL
• County: Pasco County · 524,098 people
• City population: 137,708
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 35,945
• Household income: $49,563
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1439.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% Russian/Polish/Slavic 2%

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: ▼ -73.10%
• Current HPI: 324.6519
• Rent YoY: ▼ -2.92%
• 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

+177.6% since first listed

11 events — show timeline

• 2026-03-25 Price Changed $124,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-23 Price Changed $129,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-13 Price Changed $135,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-13 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2025-11-30 Listed $145,000 Stellar MLS as Distributed by MLS Grid
• 2006-02-02 Sold (Public Records) $109,000 Public Records
• 2006-01-27 Sold (MLS) $109,000 Stellar MLS as Distributed by MLS Grid
• 2005-11-15 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2001-04-03 Sold (Public Records) $45,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $378 · +6.9% YoY. Source: county tax records.