Pandora Plan · Dade City, FL 33523

$315,990

4 bd · 2.0 ba · 2,008 sqft · SingleFamily · 359 Days on market

---

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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +1.0/10.0

Listing remarks

Step through the front porch into a welcoming foyer that leads into the open-concept family room, dining area, and kitchen. Off the kitchen, you'll find a convenient pantry, while the covered patio offers seamless access to outdoor living from the family room. The primary bedroom is tucked away for privacy and includes a spacious walk-in closet and a primary bath. Three additional bedrooms are located near the front of the home-two of which share a full bath-and the laundry room and linen closet are centrally located off the foyer. The two-car garage provides easy entry into the home through the laundry room.

Key facts

• Backyard
• Covered patio
• Granite countertops

Tags

• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• COVERED PATIO
• BACKYARD

Property features AI

Finance

• Other: Address: 14433 Italy Ave, Dade City FL 33523; Listing status: Active; Plan name: Pandora
• Financial info: List price: $325,990
• HOA & community: HOA/community details not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Electric heating available; Central air conditioning
• Home design: Pandora plan (new construction plan); Single-family property (plan listing)
• Construction: Built/estimated living area of 2008; Construction details not provided
• Exterior features: Exterior details not provided

Interior

• Kitchen: Kitchen (details not provided)
• Bedrooms: 4 bedrooms
• Flooring: Flooring details not provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating and heat pump; Central air conditioning
• Interior features: Open plan living area
• Laundry & utility: Laundry/utility details not provided

🏗️ New construction. The $315,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $349,392.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $316k.

Deal economics

• At list price, monthly cash flow is $-553 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (14.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (25.4% below list).
• Recommended offer: $236k (25.4% below list) — sets the bar for 1% rule.

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; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 359 days — a 12% lower offer ($278k) is reasonable based on typical stale-listing flexibility.

Recommended offer $235,585 (25.4% 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. It's been on market 359 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. 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?
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 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: 0.67% ✗
• Cap rate: 4.39%
• Cash-on-cash: -6.79%
• DSCR: 0.70
• GRM: 12.4

CMA / ARV

• ARV (on-the-fly): $349,392
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14489 Italy Ave	0.05mi	4/2.0	1,900 (-5%)	2mo	$328,325	$173	87
14595 Italy Ave	0.14mi	4/2.0	1,900 (-5%)	4mo	$314,099	$165	81
14613 Italy Ave	0.16mi	4/3.0	2,164 (+8%)	1mo	$319,990	$148	75
36057 Canelli Way	0.32mi	4/2.0	1,900 (-5%)	5mo	$330,049	$174	72
14684 Italy Ave	0.22mi	4/3.0	2,164 (+8%)	1mo	$323,190	$149	72
14393 Stresa Ave	0.24mi	4/2.0	1,824 (-9%)	2mo	$301,940	$166	72
14738 Italy Ave	0.27mi	4/2.0	2,164 (+8%)	7mo	$335,990	$155	69
14505 Italy Ave	0.06mi	3/2.0 (-1)	1,712 (-15%)	2mo	$320,300	$187	66
14577 Italy Ave	0.12mi	3/2.0 (-1)	1,712 (-15%)	4mo	$316,050	$185	62
36019 Canelli Way	0.32mi	3/2.0 (-1)	1,712 (-15%)	1mo	$318,550	$186	55
14661 Italy Ave	0.20mi	3/2.0 (-1)	1,712 (-15%)	9mo	$316,990	$185	54
13797 Wineberry Dr	0.74mi	4/2.5	2,046 (+2%)	8mo	$377,000	$184	53

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: 19.5%
• Equity multiple: 2.59×
• Total profit: $155,074
• Equity at exit: $314,760

10-year hold

• IRR: 17.9%
• Equity multiple: 5.95×
• Total profit: $484,459
• Equity at exit: $678,792

Cash invested: $97,830 (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: 11.2×

Monthly cashflow live

• Estimated rent: $2,356 high
• Mortgage (P&I): −$1,832
• Tax est. 1.5%: −$437 /mo · $5,241/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $-553

Break-even live

Break-even rent $3,056

Max offer price $269,307

Occupancy floor —

Sensitivity live

Price	-10% $-312	-5% $-433	+0% $-553	+5% $-674	+10% $-795
Rent	-10% $-740	-5% $-647	+0% $-553	+5% $-460	+10% $-367
Rate	-1.0pp $-377	-0.5pp $-465	base $-553	+0.5pp $-644	+1.0pp $-736

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: $87,348
• Closing costs: $10,482
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36111 Canelli Way Dade City, FL	4.0	2.0	2008	$2,295	$1.14	4d	1	0.36mi
36350 Spanish Rose Dr Dade City, FL	4.0	2.0	1828	$2,149	$1.18	6d	1	0.89mi
13576 Whiskey Daisy Dr Dade City, FL	4.0	2.5	2238	$2,500	$1.12	1d	1	0.99mi
35386 Spruce Knob Ct Dade City, FL	4.0	2.5	2958	$2,595	$0.88	1d	1	1.13mi
35514 Mahwah Ave Dade City, FL	4.0	3.0	2020	$2,400	$1.19	22d	1	1.24mi
35288 Spruce Knob Ct Dade City, FL	4.0	2.5	2305	$2,300	$1.00	19d	1	1.24mi
36169 Trinity Glade Rd Dade City, FL	4.0	2.5	2181	$2,600	$1.19	13d	1	1.26mi
36132 Trinity Glade Rd Dade City, FL	3.0	2.0	1515	$2,425	$1.60	16d	1	1.28mi
12945 Ogden Glade Rd Dade City, FL	4.0	2.0	1815	$2,195	$1.21	19d	1	1.34mi

Listing history 13 events

1. 2026-06-18
   days on market $315,990 Active 359 DOM
2. 2026-06-17
   days on market $315,990 Active 358 DOM
3. 2026-06-16
   days on market $315,990 Active 357 DOM
4. 2026-06-15
   days on market $315,990 Active 356 DOM
5. 2026-06-13
   days on market $315,990 Active 354 DOM
6. 2026-06-09
   days on market $315,990 Active 350 DOM
7. 2026-06-08
   days on market $315,990 Active 349 DOM
8. 2026-06-07
   days on market $315,990 Active 348 DOM
9. 2026-06-04
   days on market $315,990 Active 345 DOM
10. 2026-06-03
    days on market $315,990 Active 344 DOM
11. 2026-06-02
    days on market $315,990 Active 343 DOM
12. 2026-06-01
    days on market $315,990 Active 342 DOM
13. 2026-05-31
    days on market $315,990 Active 341 DOM

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

Taxation est. · year 1

• Rental income: $28,270
• − Mortgage interest: −$19,571
• − Property taxes: −$5,241
• − Insurance: −$1,747
• − Repairs & maintenance: −$2,262
• − Management: −$2,262
• − Depreciation: −$10,164
• Taxable loss: −$12,976
• Est. tax savings @ 24.0%: +$3,114
• After-tax cash flow: $-3,527/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