20893 Haulover Cv #8 · Land O' Lakes, FL 33558

$122,900

1 bd · 1.0 ba · 456 sqft · Condo public records · 280 Days on market

Built 1982 $487/mo HOA · 31% of rent

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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).

• Cash flow +10.6/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• DSCR +3.1/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Owner Financing Available for this furnished updated condo located in the gated nudist/clothing-optional community of Paradise Lakes with neutral tile, laminate, and colors throughout. The kitchen features an extended tile counter, 4-burner cooktop (2023), dishwasher (2023), undermount stainless sink, disposal, microwave, refrigerator (2023) and extra upper/lower pantry cabinets. Spacious living room with vaulted ceiling, mirror accent wall, and ceiling fan. Main bedroom has a vaulted ceiling and ladder access to the loft - ideal for storage or overnight guests. Full bath with tub/shower combo and free-standing storage/medicine cabinet. AC and tankless on-demand water heater dated 2020. Dua

Key facts

• Gated community
• Vaulted ceiling
• 4 burner cooktop

Tags

• GATED COMMUNITY
• EXTENDED TILE COUNTER
• 4 BURNER COOKTOP
• UNDERMOUNT STAINLESS SINK
• VAULTED CEILING
• LADDER ACCESS TO LOFT

Property features AI

Finance

• Other: Unit is furnished; Buyer directions available
• Financial info: Total annual fees $5,844; Lease restrictions apply
• HOA & community: Monthly condo fee of $487; HOA required with association approval; Association covers cable TV, common area taxes, escrow reserves, insurance, internet, structure and grounds maintenance, management, sewer, trash and water; Community features include buyer approval required, deed restrictions, golf carts allowed, special community restrictions; Pets allowed with breed restrictions and number limit; max pet weight 60 lbs

Exterior

• Parking: Open parking
• Security: Gated community; Key card entry
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Internet available; Sewer connected; Water connected
• Home design: Condominium; Residential property; Two-story building; Second-floor unit; Faces northwest
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Building E identifier
• Exterior features: Rain gutters; Level lot; Sidewalk; Paved; Private

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 1 bedroom (located on 2nd floor)
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Ductless heating; Wall/window air-conditioning unit(s)
• Interior features: Ceiling fans; Vaulted ceilings
• Laundry & utility: Washer; Dryer; Tankless water heater; Laundry inside

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $123k.

Deal economics

• At list price, monthly cash flow is $-61 ($-727/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (8.7% below list).
• Meets the 1% rule at list price ($2k rent vs $123k).
• Recommended offer: $108k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.7% vs local median 3.7% in Land O' Lakes — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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 (-3.1%/yr); 261 active listings in the ZIP; high-income renter base; 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• This rent is only 16% of the median local income ($116k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 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 280 days — a 12% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $106k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• 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 $108,152 (12.0% 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 280 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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?
8. 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.
9. 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.
10. 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: 5.70%
• Cash-on-cash: -2.11%
• DSCR: 0.91
• 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: -25.0%
• Equity multiple: 0.18×
• Total profit: $-28,078
• Equity at exit: $18,325

10-year hold

• IRR: -47.3%
• Equity multiple: -0.34×
• Total profit: $-45,989
• Equity at exit: $10,626

Cash invested: $34,412 (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 33558

• Home prices YoY: -14.2%
• Rents YoY: -3.1%
• Active inventory: 261
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,571 medium
• Mortgage (P&I): −$645
• Tax from tax record: −$119 /mo · $1,429/yr
• Insurance: −$51
• HOA: −$487
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $-61

Break-even live

Break-even rent $1,648

Max offer price $112,192

Occupancy floor 99%

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: $30,725
• Closing costs: $3,687
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $487 · $5,844/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $122,900 Active 280 DOM
2. 2026-06-17
   days on market $122,900 Active 279 DOM
3. 2026-06-16
   days on market $122,900 Active 278 DOM
4. 2026-06-15
   days on market $122,900 Active 277 DOM
5. 2026-06-13
   days on market $122,900 Active 275 DOM
6. 2026-06-09
   days on market $122,900 Active 271 DOM
7. 2026-06-08
   days on market $122,900 Active 270 DOM
8. 2026-06-07
   days on market $122,900 Active 269 DOM
9. 2026-06-04
   days on market $122,900 Active 266 DOM
10. 2026-06-03
    days on market $122,900 Active 265 DOM
11. 2026-06-02
    days on market $122,900 Active 264 DOM
12. 2026-06-01
    days on market $122,900 Active 263 DOM
13. 2026-05-31
    days on market $122,900 Active 262 DOM
14. 2026-02-07
    price $122,900
15. 2026-01-06
    price $132,900
16. 2025-09-11
    listed $134,900 Active
17. 2025-04-25
    soldstatus $106,000
18. 2019-10-04
    soldstatus $44,500
19. 2018-01-23
    soldstatus $46,000

ⓘ 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: $1,429 · $119/mo
• Projected year-2 tax: $1,429 · $119/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 3/10 Moderate
• 🌡 Heat 10/10 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,853
• − Mortgage interest: −$6,884
• − Property taxes: −$1,429
• − Insurance: −$614
• − Repairs & maintenance: −$1,508
• − Management: −$1,508
• − HOA: −$5,844
• − Depreciation: −$3,575
• Taxable loss: −$2,510
• Est. tax savings @ 24.0%: +$602
• After-tax cash flow: $-125/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 — Land O' Lakes

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Land O' Lakes, FL
• County: Hillsborough County · 1,540,968 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 33,165
• Household income: $116,090
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 639.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Hispanic / Latino 21% Two or more races 16% Asian 11% Black 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 5%
• Common ancestry: Romanian 4% Slovak 2% Scotch-Irish 2%
• Foreign-born: 16% · Canada, Jamaica, China
• Languages at home: 75% English-only · Spanish 13% Other Indo-European 4% Other Asian/Pacific 3%

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: ▼ -53.60%
• Current HPI: 324.0508
• Rent YoY: ▼ -3.12%
• 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

+167.2% since first listed

6 events — show timeline

• 2026-02-07 Price Changed $122,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-06 Price Changed $132,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-11 Listed $134,900 Stellar MLS as Distributed by MLS Grid
• 2025-04-25 Sold (Public Records) $106,000 Public Records
• 2019-10-04 Sold (Public Records) $44,500 Public Records
• 2018-01-23 Sold (Public Records) $46,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,429 · +7.2% YoY. Source: county tax records.