36831 Grace Ave · Zephyrhills West, FL 33542

$124,900

3 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 29 Days on market

Built 1975 5,432 sqft lot Est $152k · 18% under $37/mo HOA · 2% of rent

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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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 36831 Grace Avenue, a charming and inviting Florida retreat tucked inside Betmar Acres, one of Zephyrhills’ most beloved 55+ golf communities. Here, you’ll enjoy the comfort of owning your land along with the added bonus of a very low annual fee of just $448. From the moment you step inside, this home feels warm, welcoming, and easy to love. The cozy galley kitchen is filled with character and functionality, featuring beautiful custom hardwood cabinetry, an eat-in island perfect for morning coffee or casual meals, an oversized pantry closet, and new luxury vinyl plank flooring. Just beyond the kitchen, the dining area offers a built-in hutch ready to display tre

Key facts

• 5,432 sq ft lot
• Parking
• Community pool

Property features AI

Finance

• Other: Furnished; Lease restrictions apply
• HOA & community: Has HOA; annual association fee $448 (monthly approx. $37.33); Association approval required; Association amenities include clubhouse, golf course, pickleball courts, pool, shuffleboard, spa/hot tub; Senior community; Pets allowed (cats and dogs); Golf carts allowed; Dog park

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Residential mobile home (double wide); One story; South-facing
• Construction: Vinyl siding; Metal roof; Crawlspace foundation; Built as completed/finished
• Exterior features: Covered front porch; Screened porch; Side porch; Patios/porches with coverage; Rain barrel/cistern; Shade shutters; Sliding doors; Exterior storage; Landscaped, level lot; Asphalt road access (public maintained)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air
• Interior features: Ceiling fans; Eat-in kitchen; High ceilings; Living room/dining room combo; Solid wood cabinets; Window treatments
• Laundry & utility: Laundry room; Outside laundry access; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 7.8% in Zephyrhills West — 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 61/100 on livability (#772 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, 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 falling (-3.6%/yr); 294 active listings in the ZIP; 29 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 42% of the median local income ($49k/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 $864 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 29 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $58k; list at $125k implies a 115% 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 $123,026 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
6. 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.
7. 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: 1.39% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.08%
• DSCR: 1.67
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $152,064
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36946 Grace Ave	0.13mi	2/1.5 (-1)	1,063 (+1%)	0mo	$135,000	$127	86
36620 Kay Ave	0.23mi	2/2.0 (-1)	1,008 (-4%)	1mo	$220,000	$218	76
37024 8th Ave	0.22mi	2/2.0 (-1)	960 (-9%)	2mo	$45,000	$47	68
37100 8th Ave	0.28mi	2/2.0 (-1)	960 (-9%)	1mo	$138,000	$144	66
5654 Arrowhead Dr	0.33mi	2/2.0 (-1)	1,144 (+8%)	1mo	$165,000	$144	65
5248 Antigua Dr	0.58mi	2/2.0 (-1)	1,036 (-2%)	1mo	$129,500	$125	64
36847 Jodi Ave	0.40mi	2/2.0 (-1)	1,152 (+9%)	2mo	$194,500	$169	60
36743 Tara Ave	0.54mi	3/2.0	1,152 (+9%)	0mo	$195,000	$169	59
36946 Tara Ave	0.52mi	2/2.0 (-1)	1,144 (+8%)	1mo	$197,000	$172	56
37229 Sandra Ave	0.43mi	2/2.0 (-1)	931 (-12%)	1mo	$106,900	$115	54
37303 Kinkaid Dr	0.68mi	2/2.0 (-1)	1,120 (+6%)	0mo	$108,750	$97	52
37240 Beverly Ave	0.44mi	2/2.0 (-1)	898 (-15%)	2mo	$130,500	$145	48

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $2,735
• Equity at exit: $18,623

10-year hold

• IRR: 8.3%
• Equity multiple: 1.54×
• Total profit: $19,045
• Equity at exit: $10,799

Cash invested: $34,972 (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 33542

• Home prices YoY: -20.6%
• Rents YoY: -3.6%
• Active inventory: 294
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,736 high
• Mortgage (P&I): −$655
• Tax from tax record: −$188 /mo · $2,252/yr
• Insurance: −$52
• HOA: −$37
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $440

Break-even live

Break-even rent $1,179

Max offer price $124,900

Occupancy floor 70%

Sensitivity live

Price	-10% $510	-5% $475	+0% $440	+5% $404	+10% $369
Rent	-10% $302	-5% $371	+0% $440	+5% $508	+10% $577
Rate	-1.0pp $502	-0.5pp $471	base $440	+0.5pp $407	+1.0pp $374

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36801 Camelia Ct Zephyrhills, FL	2.0	2.0	864	$1,350	$1.56	25d	1	0.25mi
5521 Barbara St Zephyrhills, FL	2.0	2.0	1056	$1,800	$1.70	25d	1	0.48mi
36321 Stonewood Ln #103 Zephyrhills, FL	2.0	2.0	987	$1,525	$1.55	25d	1	0.82mi
5914 Willow Ridge Dr #101 Zephyrhills, FL	2.0	2.0	987	$1,500	$1.52	25d	1	0.83mi
36243 Lake Chase Blvd #203 Zephyrhills, FL	3.0	2.0	1278	$1,775	$1.39	25d	1	0.86mi
36106 Lake Chase Blvd #102 Zephyrhills, FL	3.0	2.0	1170	$1,650	$1.41	5d	1	0.95mi
36106 Lake Chase Blvd Zephyrhills, FL	3.0	2.0	1325	$1,700	$1.28	25d	1	0.95mi
35940 Inspiration Dr Zephyrhills, FL	1.0–3.0	1.0–2.0	1034	$2,201	$2.13	0d	22	0.96mi
37902 7th Ave Zephyrhills, FL	3.0	1.0	900	$1,775	$1.97	25d	1	1.05mi
37812 15th Ave Zephyrhills, FL	2.0	2.0	1000	$1,850	$1.85	25d	1	1.06mi
36009 Deer Creek Dr #104 Zephyrhills, FL	2.0	2.0	1029	$1,450	$1.41	25d	1	1.06mi
6302 Abbott Station Dr Zephyrhills, FL	3.0	1.0–2.5	855	$1,999	$2.34	2d	142	1.06mi
36015 Deer Creek Dr #202 Zephyrhills, FL	2.0	2.0	1062	$1,450	$1.37	25d	1	1.07mi
5237 1st St Zephyrhills, FL	3.0	1.0	964	$1,700	$1.76	25d	1	1.14mi
5143 1st St Zephyrhills, FL	3.0	2.0	1436	$1,750	$1.22	25d	1	1.15mi
6262 Maisie Rd Zephyrhills, FL	3.0	2.5	1363	$1,700	$1.25	25d	1	1.21mi
4639 Coral St Zephyrhills, FL	2.0	2.0	1056	$1,250	$1.18	25d	1	1.23mi
6335 Maisie Rd Zephyrhills, FL	3.0	2.5	1363	$1,650	$1.21	21d	1	1.24mi
37819 Alissa Dr Zephyrhills, FL	2.0	2.0	864	$1,450	$1.68	18d	1	1.25mi
6246 Timberly Ln Zephyrhills, FL	3.0	2.5	1363	$1,900	$1.39	25d	1	1.25mi
37661 Aaralyn Rd Zephyrhills, FL	3.0	2.5	1363	$1,800	$1.32	25d	1	1.26mi
37732 Cecil Ln Zephyrhills, FL	3.0	1.0	1040	$1,800	$1.73	25d	1	1.32mi
6633 Foxmoor Dr Zephyrhills, FL	3.0	2.0	1300	$2,000	$1.54	25d	1	1.33mi
37925 Date Palm Dr Zephyrhills, FL	3.0	1.5	720	$1,300	$1.81	25d	1	1.34mi
5441 6th St Zephyrhills, FL	2.0	1.0	1014	$1,650	$1.63	25d	1	1.35mi
36095 Carriage Pine Ct Zephyrhills, FL	3.0	2.0	1461	$1,990	$1.36	25d	1	1.35mi
4111 Ryals Rd Zephyrhills, FL	4.0	3.0	1216	$2,195	$1.81	4d	1	1.44mi
6195 Daerr Ridge St Zephyrhills, FL	3.0	2.5	1386	$2,000	$1.44	18d	1	1.45mi
6773 Branham Mill Ct Zephyrhills, FL	3.0	2.0	1454	$1,950	$1.34	25d	1	1.45mi

HOA detail

• Monthly dues: $37 · $444/yr

Listing history 31 events

1. 2026-06-18
   days on market $124,900 Active 29 DOM
2. 2026-06-17
   days on market $124,900 Active 28 DOM
3. 2026-06-16
   days on market $124,900 Active 27 DOM
4. 2026-06-15
   days on market $124,900 Active 26 DOM
5. 2026-06-13
   days on market $124,900 Active 24 DOM
6. 2026-06-09
   days on market $124,900 Active 20 DOM
7. 2026-06-08
   days on market $124,900 Active 19 DOM
8. 2026-06-07
   days on market $124,900 Active 18 DOM
9. 2026-06-04
   days on market $124,900 Active 15 DOM
10. 2026-06-03
    days on market $124,900 Active 14 DOM
11. 2026-06-02
    days on market $124,900 Active 13 DOM
12. 2026-06-01
    days on market $124,900 Active 12 DOM
13. 2026-05-31
    days on market $124,900 Active 11 DOM
14. 2026-05-20
    listed $124,900 Active
15. 2026-05-08
    historical
16. 2026-04-27
    price $119,900
17. 2026-03-20
    price $122,900
18. 2026-03-03
    price $124,900
19. 2026-02-19
    price $129,900
20. 2026-01-10
    status Active
21. 2025-12-01
    status Pending
22. 2025-11-20
    price $134,900
23. 2025-11-05
    price $139,900
24. 2025-11-05
    listed $144,900 Active
25. 2025-08-31
    historical
26. 2025-07-18
    price $144,900
27. 2025-05-20
    price $149,900
28. 2025-04-10
    price $158,500
29. 2025-02-24
    listed $169,900 Active
30. 1999-03-01
    soldstatus $58,000
31. 1999-03-01
    soldstatus $58,000

ⓘ 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: $2,252 · $188/mo
• Projected year-2 tax: $2,252 · $188/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,829
• − Mortgage interest: −$6,996
• − Property taxes: −$2,252
• − Insurance: −$624
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − HOA: −$444
• − Depreciation: −$3,633
• Taxable income: $3,546
• Est. tax owed @ 24.0%: −$851
• After-tax cash flow: $4,423/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 — Zephyrhills West

• Score: 61/100
• State rank: #772
• US rank: #17403

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zephyrhills West, FL
• County: Pasco County · 524,098 people
• City population: 48,266
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 23,612
• Household income: $49,316
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 831.0

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 17% Two or more races 8% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 12% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -81.25%
• Current HPI: 313.3993
• Rent YoY: ▼ -3.56%
• 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

+115.3% since first listed

18 events — show timeline

• 2026-05-20 Listed $124,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $119,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $122,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-03 Price Changed $124,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-19 Price Changed $129,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-10 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-11-20 Price Changed $134,900 Stellar MLS as Distributed by MLS Grid
• 2025-11-05 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2025-11-05 Listed $144,900 Stellar MLS as Distributed by MLS Grid
• 2025-08-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-07-18 Price Changed $144,900 Stellar MLS as Distributed by MLS Grid
• 2025-05-20 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2025-04-10 Price Changed $158,500 Stellar MLS as Distributed by MLS Grid
• 2025-02-24 Listed $169,900 Stellar MLS as Distributed by MLS Grid
• 1999-03-01 Sold (Public Records) $58,000 Public Records
• 1999-03-01 Sold (Public Records) $58,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $2,252 · +5.4% YoY. Source: county tax records.