5556 Riviera Dr · Zephyrhills West, FL 33541

$139,900

2 bd · 2.0 ba · 1,144 sqft · Manufactured public records · 87 Days on market

Built 1987 6,577 sqft lot Est $176k · 21% under $66/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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Tucked into a peaceful cul-de-sac in Oaks Royal 3, this 2 bedroom, 2 bath corner lot home offers extra breathing room, added backyard privacy, and the rare benefit of owning your land in one of Zephyrhills’ most active 55+ communities! Arrive to a sidewalk-lined street where this home sits comfortably on the corner, creating a more open feel with additional yard space to enjoy. Inside, a spacious layout unfolds with an oversized living room filled with natural light from multiple windows, complemented by vaulted ceilings and a comfortable, easy flow into the dining area. A built-in curio cabinet adds character while defining the space, leading seamlessly into the kitchen beyond. The k

Key facts

• Owning your land
• Backyard privacy
• Cul-de-sac

Tags

• CUL-DE-SAC
• CORNER LOT
• BACKYARD PRIVACY
• OWNING YOUR LAND
• SIDEWALK-LINED STREET
• OVERSIZED LIVING ROOM

Property features AI

Finance

• Other: Furnished; Corner, cul-de-sac lot; landscaped and paved; in county; Total acreage: less than 1/4 acre
• Financial info: Lease restrictions apply
• HOA & community: Has HOA; annual fee $800 (approximately $66.67/month); Association approval required; Association amenities include clubhouse, pool, shuffleboard court; Community features: buyer approval required, deed restrictions, sidewalks; Senior community; Pets allowed with restrictions (size, number, breed); max pet weight 20 lbs

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer; Electricity connected; Broadband/high-speed internet available; Water connected; Sewer connected
• Home design: Manufactured double-wide home; Single-story; Homes faces southwest; One living level
• Construction: Metal roof; Other construction materials; Crawlspace foundation; Built as a manufactured home (double wide)
• Exterior features: Covered, enclosed side porch; Exterior lighting; Rain gutters; Sidewalk; Storage

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Built-in features; Ceiling fans; Eat-in kitchen; Vaulted ceilings; Walk-in closets; Formal dining room (separate); 5 total rooms
• Laundry & utility: Laundry room; Washer; Dryer; Tankless water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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: amenities F, commute F, employment D-.
• 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: West Zephyrhills Elementary School (math 27% / reading 32%, grade F, #1,896 of 2,144 statewide, top 90%, 615 students, 81% FRL); Raymond B. Stewart Middle School (math 33% / reading 30%, grade F, #453 of 571 statewide, top 81%, 988 students, 77% FRL); Zephyrhills High School (math 35% / reading 37%, grade F, #359 of 667 statewide, top 55%, 1,656 students, 70% FRL) — zoned schools average 76% FRL vs 48% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 51% district-wide (-19 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.5%/yr); 862 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 37% 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 $967 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 87 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago 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 $55k; list at $140k implies a 154% 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 $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.25% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.33%
• DSCR: 1.64
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $176,176
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5654 Arrowhead Dr	0.53mi	2/2.0	1,144 (0%)	1mo	$165,000	$144	75
5421 Powhattan St	0.29mi	2/2.0	1,232 (+8%)	3mo	$145,000	$118	71
5248 Antigua Dr	0.28mi	2/2.0	1,036 (-9%)	1mo	$129,500	$125	71
36847 Jodi Ave	0.59mi	2/2.0	1,152 (+1%)	2mo	$194,500	$169	70
36743 Tara Ave	0.55mi	3/2.0 (+1)	1,152 (+1%)	1mo	$195,000	$169	68
36946 Tara Ave	0.72mi	2/2.0	1,144 (0%)	1mo	$197,000	$172	66
5404 Waters St	0.57mi	3/2.0 (+1)	1,146 (+0%)	3mo	$146,000	$127	65
36620 Kay Ave	0.43mi	2/2.0	1,008 (-12%)	1mo	$220,000	$218	59
36708 Niles Dr	0.42mi	2/2.0	1,008 (-12%)	2mo	$155,000	$154	58
36816 Hibiscus Ct	0.51mi	2/2.0	1,040 (-9%)	3mo	$140,000	$135	58
36946 Grace Ave	0.70mi	2/1.5	1,063 (-7%)	0mo	$135,000	$127	53
5350 Amanda St	0.72mi	2/2.0	1,268 (+11%)	2mo	$195,000	$154	46

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: 1.4%
• Equity multiple: 1.05×
• Total profit: $1,991
• Equity at exit: $20,860

10-year hold

• IRR: 7.9%
• Equity multiple: 1.52×
• Total profit: $20,272
• Equity at exit: $12,096

Cash invested: $39,172 (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: 862
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,748 high
• Mortgage (P&I): −$734
• Tax from tax record: −$55 /mo · $659/yr
• Insurance: −$58
• HOA: −$66
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $468

Break-even live

Break-even rent $1,155

Max offer price $139,900

Occupancy floor 68%

Sensitivity live

Price	-10% $547	-5% $507	+0% $468	+5% $428	+10% $389
Rent	-10% $330	-5% $399	+0% $468	+5% $537	+10% $606
Rate	-1.0pp $538	-0.5pp $503	base $468	+0.5pp $431	+1.0pp $395

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5914 Willow Ridge Dr #101 Zephyrhills, FL	2.0	2.0	987	$1,500	$1.52	26d	1	0.37mi
36321 Stonewood Ln #103 Zephyrhills, FL	2.0	2.0	987	$1,525	$1.55	26d	1	0.40mi
36243 Lake Chase Blvd #203 Zephyrhills, FL	3.0	2.0	1278	$1,775	$1.39	26d	1	0.40mi
36106 Lake Chase Blvd #102 Zephyrhills, FL	3.0	2.0	1170	$1,650	$1.41	6d	1	0.41mi
36106 Lake Chase Blvd Zephyrhills, FL	3.0	2.0	1325	$1,700	$1.28	26d	1	0.41mi
36801 Camelia Ct Zephyrhills, FL	2.0	2.0	864	$1,350	$1.56	26d	1	0.47mi
36009 Deer Creek Dr #104 Zephyrhills, FL	2.0	2.0	1029	$1,450	$1.41	26d	1	0.51mi
35940 Inspiration Dr Zephyrhills, FL	1.0–3.0	1.0–2.0	1034	$1,788	$1.73	1d	22	0.52mi
36015 Deer Creek Dr #202 Zephyrhills, FL	2.0	2.0	1062	$1,450	$1.37	26d	1	0.53mi
36095 Carriage Pine Ct Zephyrhills, FL	3.0	2.0	1461	$1,990	$1.36	26d	1	0.93mi
5521 Barbara St Zephyrhills, FL	2.0	2.0	1056	$1,800	$1.70	26d	1	0.98mi
6248 Hidden Creek Blvd Zephyrhills, FL	3.0–4.0	2.0–2.5	1803	$1,737	$0.96	1d	9	1.17mi
33529 Buttonweed Trl Zephyrhills, FL	3.0	2.0	1412	$2,500	$1.77	26d	1	1.18mi
6302 Abbott Station Dr Zephyrhills, FL	3.0	1.0–2.5	855	$1,732	$2.02	0d	141	1.24mi
6773 Branham Mill Ct Zephyrhills, FL	3.0	2.0	1454	$1,950	$1.34	26d	1	1.36mi
6633 Foxmoor Dr Zephyrhills, FL	3.0	2.0	1300	$2,000	$1.54	26d	1	1.41mi
34933 Daisy Meadow Loop Zephyrhills, FL	3.0	2.0	1412	$1,875	$1.33	16d	1	1.43mi
6262 Maisie Rd Zephyrhills, FL	3.0	2.5	1363	$1,700	$1.25	26d	1	1.48mi
6335 Maisie Rd Zephyrhills, FL	3.0	2.5	1363	$1,650	$1.21	22d	1	1.49mi

HOA detail

• Monthly dues: $66 · $792/yr

Listing history 19 events

1. 2026-06-18
   days on market $139,900 Active 87 DOM
2. 2026-06-17
   days on market $139,900 Active 86 DOM
3. 2026-06-16
   days on market $139,900 Active 85 DOM
4. 2026-06-15
   days on market $139,900 Active 84 DOM
5. 2026-06-13
   days on market $139,900 Active 82 DOM
6. 2026-06-09
   days on market $139,900 Active 78 DOM
7. 2026-06-08
   days on market $139,900 Active 77 DOM
8. 2026-06-07
   days on market $139,900 Active 76 DOM
9. 2026-06-04
   days on market $139,900 Active 73 DOM
10. 2026-06-03
    days on market $139,900 Active 72 DOM
11. 2026-06-02
    days on market $139,900 Active 71 DOM
12. 2026-06-01
    days on market $139,900 Active 70 DOM
13. 2026-05-31
    days on market $139,900 Active 69 DOM
14. 2026-03-23
    listed $139,900 Active
15. 2017-12-11
    historical
16. 2017-12-06
    status Active
17. 2017-12-06
    historical
18. 2017-11-09
    listed $64,900 Active
19. 2002-06-25
    soldstatus $55,000

ⓘ 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: $659 · $55/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$503/yr (+$42/mo · 76.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 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: $20,970
• − Mortgage interest: −$7,837
• − Property taxes: −$659
• − Insurance: −$700
• − Repairs & maintenance: −$1,678
• − Management: −$1,678
• − HOA: −$792
• − Depreciation: −$4,070
• Taxable income: $3,558
• Est. tax owed @ 24.0%: −$854
• After-tax cash flow: $4,759/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

• 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

+154.4% since first listed

6 events — show timeline

• 2026-03-23 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 2017-12-11 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-12-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2017-12-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-11-09 Listed $64,900 Stellar MLS as Distributed by MLS Grid
• 2002-06-25 Sold (Public Records) $55,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $659 · +2.1% YoY. Source: county tax records.