37701 El Sol Ave · Pasadena Hills, FL 33541

$85,000

3 bd · 2.0 ba · 1,107 sqft · Manufactured public records · 33 Days on market

Built 2002 Est $131k · 35% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-Bedroom Home in a Quiet 55+ Community & acirc; & euro; & rdquo; Home Only, Lot Not Included This well-maintained 3-bedroom, 2-bath home with an enclosed lanai is nestled in the peaceful 55+ community of Spanish Trails West. Its central Zephyrhills location places you just one mile from a hospital, shopping, gyms, and everyday conveniences & acirc; & euro; & rdquo; an ideal blend of comfort and accessibility. Recent updates include laminate flooring in the main living area and primary bathroom, replacing the previous carpet. The guest bathroom features a shower/tub combo, and the home comes equipped with all appliances, each less than five years old. The

Key facts

• Laminate flooring
• Recent updates
• Central location

Tags

• ENCLOSED LANAI
• CENTRAL LOCATION
• RECENT UPDATES
• LAMINATE FLOORING
• AMENITY RICH NEIGHBORHOOD

Property features AI

Exterior

• Home design: Built in 2002
• Construction: Living area approximately 1,107
• Exterior features: Located in the Spanish Trails West Residential Cooperative

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.0% vs local median 3.7% in Pasadena Hills — 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 63/100 on livability (#723 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: schools F, 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 soft (-2.5%/yr); 856 active listings in the ZIP; 18 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 40% of the median local income ($57k/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 $588 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 2.23% ✓
• Cap rate: 19.98%
• Cash-on-cash: 48.90%
• DSCR: 3.18
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $130,626
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37838 Barcelona Ave	0.22mi	2/2.0 (-1)	1,128 (+2%)	4mo	$136,000	$121	79
37817 Granada Ave	0.13mi	2/2.0 (-1)	1,056 (-5%)	4mo	$125,000	$118	78
6902 Orlo Dr	0.40mi	2/2.0 (-1)	1,104 (-0%)	2mo	$75,000	$68	74
37838 Granada Ave	0.17mi	2/2.0 (-1)	1,056 (-5%)	9mo	$139,000	$132	72
37642 Amigo Dr	0.10mi	3/2.0	1,204 (+9%)	14mo	$156,000	$130	69
7053 EL Conquistador St	0.23mi	2/2.0 (-1)	1,056 (-5%)	12mo	$122,000	$116	67
37820 Madeira Ave	0.16mi	2/2.0 (-1)	1,056 (-5%)	16mo	$139,000	$132	67
37848 Barcelona Ave	0.23mi	2/2.0 (-1)	1,056 (-5%)	13mo	$125,000	$118	65
37611 Amigo Dr	0.14mi	2/2.0 (-1)	1,196 (+8%)	14mo	$140,000	$117	64
37648 Campo Ave	0.04mi	2/2.0 (-1)	972 (-12%)	11mo	$114,000	$117	63
37452 Attica Ave	0.32mi	2/1.5 (-1)	1,028 (-7%)	5mo	$94,000	$91	62
7141 EL Matador St	0.09mi	2/2.0 (-1)	1,218 (+10%)	15mo	$137,500	$113	62

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: 43.1%
• Equity multiple: 2.78×
• Total profit: $42,421
• Equity at exit: $12,674

10-year hold

• IRR: 47.9%
• Equity multiple: 4.99×
• Total profit: $94,936
• Equity at exit: $7,349

Cash invested: $23,800 (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 33541

• Home prices YoY: -15.2%
• Rents YoY: -2.5%
• Active inventory: 856
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,900 high
• Mortgage (P&I): −$446
• Tax from tax record: −$50 /mo · $596/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $970

Break-even live

Break-even rent $672

Max offer price $85,000

Occupancy floor 44%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37814 Daughtery Rd Zephyrhills, FL	2.0	1.0	1070	$1,395	$1.30	5d	1	0.24mi
7660 Emerson Hill Cir Zephyrhills, FL	1.0–3.0	1.0–2.0	1077	$2,315	$2.15	1d	34	0.63mi
6633 Foxmoor Dr Zephyrhills, FL	3.0	2.0	1300	$2,000	$1.54	24d	1	0.76mi
6335 Maisie Rd Zephyrhills, FL	3.0	2.5	1363	$1,650	$1.21	20d	1	0.85mi
38350 Ironwood Pl #5 Zephyrhills, FL	2.0	2.0	1094	$1,800	$1.65	24d	1	0.87mi
6788 Basswood Cir Zephyrhills, FL	2.0	2.0	1067	$1,250	$1.17	24d	1	0.89mi
6262 Maisie Rd Zephyrhills, FL	3.0	2.5	1363	$1,700	$1.25	24d	1	0.90mi
37732 Cecil Ln Zephyrhills, FL	3.0	1.0	1040	$1,800	$1.73	24d	1	0.90mi
6246 Timberly Ln Zephyrhills, FL	3.0	2.5	1363	$1,900	$1.39	24d	1	0.90mi
37661 Aaralyn Rd Zephyrhills, FL	3.0	2.5	1363	$1,800	$1.32	24d	1	0.91mi
6773 Branham Mill Ct Zephyrhills, FL	3.0	2.0	1454	$1,950	$1.34	24d	1	0.96mi
6302 Abbott Station Dr Zephyrhills, FL	3.0	1.0–2.5	855	$1,999	$2.34	1d	142	0.99mi
38485 County Road 54 Zephyrhills, FL	2.0	1.0	800	$1,100	$1.38	24d	1	1.02mi
6195 Daerr Ridge St Zephyrhills, FL	3.0	2.5	1386	$2,000	$1.44	17d	1	1.07mi
38300 Henry Dr Zephyrhills, FL	2.0	1.0	1152	$1,650	$1.43	5d	1	1.13mi
6136 Pina Colada St Zephyrhills, FL	3.0	2.5	1386	$2,100	$1.52	12d	1	1.16mi
38748 Calumet Ave Zephyrhills, FL	2.0	1.0	750	$1,100	$1.47	5d	1	1.37mi
37812 15th Ave Zephyrhills, FL	2.0	2.0	1000	$1,850	$1.85	24d	1	1.43mi

Listing history 15 events

1. 2026-06-18
   days on market $85,000 Active 33 DOM
2. 2026-06-17
   days on market $85,000 Active 32 DOM
3. 2026-06-16
   days on market $85,000 Active 31 DOM
4. 2026-06-16
   price $85,000 Active 30 DOM
5. 2026-06-15
   days on market $100,000 Active 30 DOM
6. 2026-06-13
   days on market $100,000 Active 28 DOM
7. 2026-06-09
   days on market $100,000 Active 24 DOM
8. 2026-06-08
   days on market $100,000 Active 23 DOM
9. 2026-06-07
   days on market $100,000 Active 22 DOM
10. 2026-06-04
    days on market $100,000 Active 19 DOM
11. 2026-06-03
    days on market $100,000 Active 18 DOM
12. 2026-06-02
    days on market $100,000 Active 17 DOM
13. 2026-06-01
    days on market $100,000 Active 16 DOM
14. 2026-05-31
    days on market $100,000 Active 15 DOM
15. 2026-05-17
    listed $100,000 Active

ⓘ 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: $596 · $50/mo
• Projected year-2 tax: $706 · $59/mo
• Expected delta: +$110/yr (+$9/mo · 18.4%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,794
• − Mortgage interest: −$4,761
• − Property taxes: −$596
• − Insurance: −$425
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − Depreciation: −$2,473
• Taxable income: $10,892
• Est. tax owed @ 24.0%: −$2,614
• After-tax cash flow: $9,023/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 — Pasadena Hills

• Score: 63/100
• State rank: #723
• US rank: #15499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pasadena Hills, FL
• County: Pasco County · 524,098 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 24,654
• Household income: $56,579
• Rent vs Own: 14.0% rent · 86.0% own
• Severe rent burden: 393.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 8% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 9%
• Common ancestry: Lithuanian 4% Romanian 3% Serbian 3%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 9% Tagalog/Filipino 1% Other Asian/Pacific 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: ▼ -55.21%
• Current HPI: 308.0619
• Rent YoY: ▼ -2.51%
• 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

1 event — show timeline

• 2026-05-17 Listed $100,000 FSBO.com

Property tax history

+1.6%/yr

Latest (2025): $596 · +0.7% YoY. Source: county tax records.