3718 Castle Dr · Zephyrhills, FL 33540

$79,900

2 bd · 2.0 ba · 672 sqft · Manufactured public records · 164 Days on market

Built 1974 5,227 sqft lot $41/mo HOA · 4% 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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2 Bedroom, 1 Bath Home in an Active 55+ Community — You Own the Land Enjoy affordable Florida living in this well-kept 2 bedroom, 1 bath single-wide mobile home, perfectly situated in a vibrant 55+ community where you own your land. Whether you're looking for a cozy winter retreat or a comfortable year-round residence, this home delivers exceptional value and convenience. Located almost across the street from the clubhouse and sparkling community pool, you’ll love having activities, social events, and amenities just steps from your front door. With no backyard neighbors, you’ll also enjoy added privacy and peaceful outdoor space. The low HOA fee of only $500/year

Key facts

• Florida room
• Own your land
• 5,227 sq ft lot

Tags

• FLORIDA ROOM
• ACROSS THE STREET FROM POOL
• OWN YOUR LAND

Property features AI

Finance

• Other: Furnished; Total of 5 rooms
• Financial info: Lease restrictions apply
• HOA & community: Has HOA; annual fee $500 (monthly equivalent $41.67); Association requires approval; Association amenities include clubhouse, pool, shuffleboard court; Association fee covers common area taxes, pool, escrow reserves, insurance, private road; Community features: deed restrictions, sidewalks, buyer approval required, association-owned recreation, golf carts allowed; Senior community; Pets allowed (dogs and cats), max pet weight 60 lbs

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Residential mobile home; Single wide; One level; Home faces west; Crawlspace foundation
• Construction: Metal siding; Metal roof
• Exterior features: Private mailbox; Sidewalk; Storage structure on property; Paved, private lot with sidewalk

Interior

• Kitchen: Range; Range hood; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Thermostat
• Laundry & utility: Washer; Dryer; Electric water heater; Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.7% in Zephyrhills — 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 72/100 on livability (#330 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, crime C-, amenities 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: 235 active listings in the ZIP; 14 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $80k implies a 220% 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; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.36% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.74%
• DSCR: 1.57
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $43,680
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38317 Palm Grove Dr	0.52mi	1/1.0 (-1)	576 (-14%)	10mo	$37,500	$65	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $2,241
• Equity at exit: $11,913

10-year hold

• IRR: 12.2%
• Equity multiple: 1.97×
• Total profit: $21,668
• Equity at exit: $6,908

Cash invested: $22,372 (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 33540

• Home prices YoY: -3.0%
• Active inventory: 235
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,085 high
• Mortgage (P&I): −$419
• Tax from tax record: −$126 /mo · $1,517/yr
• Insurance: −$33
• HOA: −$41
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $238

Break-even live

Break-even rent $784

Max offer price $79,900

Occupancy floor 73%

Sensitivity live

Price	-10% $283	-5% $260	+0% $238	+5% $215	+10% $192
Rent	-10% $152	-5% $195	+0% $238	+5% $280	+10% $323
Rate	-1.0pp $278	-0.5pp $258	base $238	+0.5pp $217	+1.0pp $196

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4352 6th St Zephyrhills, FL	1.0	1.0	494	$1,100	$2.23	25d	1	0.66mi
4410 Plum St Zephyrhills, FL	1.0	1.0	624	$1,100	$1.76	25d	1	0.73mi
4412 Plum St Zephyrhills, FL	1.0	1.0	624	$1,100	$1.76	25d	1	0.73mi
37925 Date Palm Dr Zephyrhills, FL	3.0	1.5	720	$1,300	$1.81	25d	1	1.05mi
38941 C Ave Zephyrhills, FL	1.0	1.0	520	$1,050	$2.02	5d	1	1.07mi
4808 20th St Zephyrhills, FL	2.0	1.0	702	$1,295	$1.84	10d	1	1.14mi
4833 Royal Palm Dr Zephyrhills, FL	2.0	1.0	672	$1,090	$1.62	25d	1	1.30mi
5150 6th St Zephyrhills, FL	1.0	1.0	600	$925	$1.54	25d	1	1.46mi
5206 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	5d	1	1.47mi
5214 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	5d	1	1.47mi
5214 7th St Zephyrhills, FL	1.0	1.0	550	$1,100	$2.00	17d	1	1.47mi
5208 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	5d	1	1.48mi
5217 17th St Zephyrhills, FL	1.0	1.0	540	$1,050	$1.94	25d	1	1.49mi
38044 6th Ave Unit 38044 Zephyrhills, FL	1.0	1.0	494	$950	$1.92	25d	1	1.50mi

HOA detail

• Monthly dues: $41 · $492/yr
• Likely covers: pool

Listing history 17 events

1. 2026-06-18
   days on market $79,900 Active 164 DOM
2. 2026-06-17
   days on market $79,900 Active 163 DOM
3. 2026-06-16
   days on market $79,900 Active 162 DOM
4. 2026-06-15
   days on market $79,900 Active 161 DOM
5. 2026-06-13
   days on market $79,900 Active 159 DOM
6. 2026-06-09
   days on market $79,900 Active 155 DOM
7. 2026-06-08
   days on market $79,900 Active 154 DOM
8. 2026-06-07
   days on market $79,900 Active 153 DOM
9. 2026-06-04
   days on market $79,900 Active 150 DOM
10. 2026-06-03
    days on market $79,900 Active 149 DOM
11. 2026-06-02
    days on market $79,900 Active 148 DOM
12. 2026-06-01
    days on market $79,900 Active 147 DOM
13. 2026-05-31
    days on market $79,900 Active 146 DOM
14. 2026-02-03
    price $79,900
15. 2026-01-05
    listed $86,000 Active
16. 2002-11-08
    soldstatus $25,000
17. 1997-12-12
    soldstatus $23,000

ⓘ 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: $1,517 · $126/mo
• Projected year-2 tax: $1,517 · $126/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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,021
• − Mortgage interest: −$4,476
• − Property taxes: −$1,517
• − Insurance: −$400
• − Repairs & maintenance: −$1,042
• − Management: −$1,042
• − HOA: −$492
• − Depreciation: −$2,324
• Taxable income: $1,730
• Est. tax owed @ 24.0%: −$415
• After-tax cash flow: $2,435/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

• Score: 72/100
• State rank: #330
• US rank: #5760

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 48,266
• Population (ZIP): 11,098

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 10% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Cuban 2%
• Common ancestry: Lithuanian 4% Romanian 3% Italian 2%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 9% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -11.57%
• Current HPI: 370.8747
• 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

Price history

+247.4% since first listed

4 events — show timeline

• 2026-02-03 Price Changed $79,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-05 Listed $86,000 Stellar MLS as Distributed by MLS Grid
• 2002-11-08 Sold (Public Records) $25,000 Public Records
• 1997-12-12 Sold (Public Records) $23,000 Public Records

Property tax history

+15.5%/yr

Latest (2025): $1,517 · +9.5% YoY. Source: county tax records.