35328 Reynolds St · Ridge Manor, FL 33523

$85,000

3 bd · 2.0 ba · 1,346 sqft · SingleFamily public records · 323 Days on market

Built 1984 0.25 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for the perfect spot to build your future home? Come see this beautiful lot on Reynolds Street in Dade City! Located on a peaceful, tree lined street, this property offers quiet surroundings and plenty of space to make your vision a reality. No HOA or CDD. You'll have the freedom to design and build what works best for you. Whether your're looking to create your dream home, a weekend getaway, or an investment for the future, this land is full of potential. Just minutes from downtown Dade City, you'll be close to shops, restaurants, parks and everything this growing area has to offer-while still enjoying the calm and quiet of a tucked-away location. Don't miss this chance to own a piece of land in one of Pasco County's most loved communities. Come walk the property and picture what you can create! The current structure has sustained flood damage.

Key facts

• No cdd
• Tree lined street
• Close to shops

Tags

• TREE LINED STREET
• NO HOA
• NO CDD
• ESTABLISHED NEIGHBORHOOD
• TUCKED AWAY LOCATION
• CLOSE TO SHOPS

Property features AI

Finance

• Other: Lot size approximately 0.25 acre (1/4 to less than 1/2 acre)
• Financial info: No lease restrictions; Property is homesteaded
• HOA & community: No HOA

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Well water; Septic tank; Water service available
• Home design: Single-family residence; One story; Southeast-facing entry
• Construction: Frame construction with wood siding; Shingle roof; Slab foundation; Property listed as a fixer
• Exterior features: Other exterior features; Paved road access

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: No interior features listed
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $211 ($3k/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: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 4.3% in Ridge Manor — 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 (#736 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, employment D, schools F.
• Hernando (suburban): math 50% / reading 50% proficiency, ranked #38 of 73 in FL (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 295 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($588 loan paydown + $8k appreciation (10.0% local appreciation)).
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 323 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 323 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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: 1.82% ✓
• Cap rate: 15.29%
• Cash-on-cash: 32.12%
• DSCR: 2.43
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $220,744
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34918 Reynolds St	0.52mi	3/2.0	1,456 (+8%)	14mo	$245,000	$168	50
3251 Taffeta St	0.47mi	3/2.0	1,188 (-12%)	21mo	$195,000	$164	41
34875 Romar St	0.75mi	2/2.0 (-1)	1,220 (-9%)	16mo	$185,000	$152	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.2%
• Equity multiple: 3.52×
• Total profit: $59,988
• Equity at exit: $76,575

10-year hold

• IRR: 27.9%
• Equity multiple: 8.00×
• Total profit: $166,678
• Equity at exit: $165,136

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 33523

• Home prices YoY: 3.8%
• Active inventory: 295
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $211

Break-even live

Break-even rent $1,283

Max offer price $85,000

Occupancy floor 81%

Sensitivity live

Price	-10% $269	-5% $240	+0% $211	+5% $181	+10% $152
Rent	-10% $88	-5% $149	+0% $211	+5% $272	+10% $333
Rate	-1.0pp $253	-0.5pp $232	base $211	+0.5pp $189	+1.0pp $166

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34934 Punch Rd Dade City, FL	2.0	2.0	924	$1,550	$1.68	25d	1	0.46mi

Listing history 40 events

1. 2026-06-21
   days on market $85,000 Active 323 DOM
2. 2026-06-18
   days on market $85,000 Active 320 DOM
3. 2026-06-17
   days on market $85,000 Active 319 DOM
4. 2026-06-16
   days on market $85,000 Active 318 DOM
5. 2026-06-15
   days on market $85,000 Active 317 DOM
6. 2026-06-13
   days on market $85,000 Active 315 DOM
7. 2026-06-13
   days on market $85,000 Active 314 DOM
8. 2026-06-09
   days on market $85,000 Active 311 DOM
9. 2026-06-08
   days on market $85,000 Active 310 DOM
10. 2026-06-07
    days on market $85,000 Active 309 DOM
11. 2026-06-04
    days on market $85,000 Active 306 DOM
12. 2026-06-03
    days on market $85,000 Active 305 DOM
13. 2026-06-02
    days on market $85,000 Active 304 DOM
14. 2026-06-01
    days on market $85,000 Active 303 DOM
15. 2026-05-31
    days on market $85,000 Active 302 DOM
16. 2025-12-28
    status Active 865-char remark

    Show marketing remark (865 chars)

    Looking for the perfect spot to build your future home? Come see this beautiful lot on Reynolds Street in Dade City! Located on a peaceful, tree lined street, this property offers quiet surroundings and plenty of space to make your vision a reality. No HOA or CDD. You'll have the freedom to design and build what works best for you. Whether your're looking to create your dream home, a weekend getaway, or an investment for the future, this land is full of potential. Just minutes from downtown Dade City, you'll be close to shops, restaurants, parks and everything this growing area has to offer-while still enjoying the calm and quiet of a tucked-away location. Don't miss this chance to own a piece of land in one of Pasco County's most loved communities. Come walk the property and picture what you can create! The current structure has sustained flood damage.

17. 2025-12-28
    status Active

    Show marketing remark (865 chars)

    Looking for the perfect spot to build your future home? Come see this beautiful lot on Reynolds Street in Dade City! Located on a peaceful, tree lined street, this property offers quiet surroundings and plenty of space to make your vision a reality. No HOA or CDD. You'll have the freedom to design and build what works best for you. Whether your're looking to create your dream home, a weekend getaway, or an investment for the future, this land is full of potential. Just minutes from downtown Dade City, you'll be close to shops, restaurants, parks and everything this growing area has to offer-while still enjoying the calm and quiet of a tucked-away location. Don't miss this chance to own a piece of land in one of Pasco County's most loved communities. Come walk the property and picture what you can create! The current structure has sustained flood damage.

18. 2025-12-26
    historical 865-char remark

    Show marketing remark (865 chars)

    Looking for the perfect spot to build your future home? Come see this beautiful lot on Reynolds Street in Dade City! Located on a peaceful, tree lined street, this property offers quiet surroundings and plenty of space to make your vision a reality. No HOA or CDD. You'll have the freedom to design and build what works best for you. Whether your're looking to create your dream home, a weekend getaway, or an investment for the future, this land is full of potential. Just minutes from downtown Dade City, you'll be close to shops, restaurants, parks and everything this growing area has to offer-while still enjoying the calm and quiet of a tucked-away location. Don't miss this chance to own a piece of land in one of Pasco County's most loved communities. Come walk the property and picture what you can create! The current structure has sustained flood damage.

19. 2025-12-26
    historical

    Show marketing remark (865 chars)

    Looking for the perfect spot to build your future home? Come see this beautiful lot on Reynolds Street in Dade City! Located on a peaceful, tree lined street, this property offers quiet surroundings and plenty of space to make your vision a reality. No HOA or CDD. You'll have the freedom to design and build what works best for you. Whether your're looking to create your dream home, a weekend getaway, or an investment for the future, this land is full of potential. Just minutes from downtown Dade City, you'll be close to shops, restaurants, parks and everything this growing area has to offer-while still enjoying the calm and quiet of a tucked-away location. Don't miss this chance to own a piece of land in one of Pasco County's most loved communities. Come walk the property and picture what you can create! The current structure has sustained flood damage.

20. 2025-08-01
    listed $85,000 Active 865-char remark

    Show marketing remark (865 chars)

    Looking for the perfect spot to build your future home? Come see this beautiful lot on Reynolds Street in Dade City! Located on a peaceful, tree lined street, this property offers quiet surroundings and plenty of space to make your vision a reality. No HOA or CDD. You'll have the freedom to design and build what works best for you. Whether your're looking to create your dream home, a weekend getaway, or an investment for the future, this land is full of potential. Just minutes from downtown Dade City, you'll be close to shops, restaurants, parks and everything this growing area has to offer-while still enjoying the calm and quiet of a tucked-away location. Don't miss this chance to own a piece of land in one of Pasco County's most loved communities. Come walk the property and picture what you can create! The current structure has sustained flood damage.

21. 2025-08-01
    listed $85,000 Active

    Show marketing remark (865 chars)

    Looking for the perfect spot to build your future home? Come see this beautiful lot on Reynolds Street in Dade City! Located on a peaceful, tree lined street, this property offers quiet surroundings and plenty of space to make your vision a reality. No HOA or CDD. You'll have the freedom to design and build what works best for you. Whether your're looking to create your dream home, a weekend getaway, or an investment for the future, this land is full of potential. Just minutes from downtown Dade City, you'll be close to shops, restaurants, parks and everything this growing area has to offer-while still enjoying the calm and quiet of a tucked-away location. Don't miss this chance to own a piece of land in one of Pasco County's most loved communities. Come walk the property and picture what you can create! The current structure has sustained flood damage.

22. 2022-06-20
    soldstatus $210,000
23. 2022-06-14
    soldstatus $210,000 Closed 720-char remark

    Show marketing remark (720 chars)

    * * MULTIPLE OFFERS * * All highest and best offers are due by 10pm Wednesday 4/20/2022 * * All of the work has been done for you at this move-in ready home! This property has been fully updated and renovated. The interior of this home features a brand new kitchen with stainless steel appliances, granite countertops and new cabinets, new A/C, new windows, gorgeous floor to ceiling fireplace with mantle and raised hearth, updated bathrooms with granite countertops, new cabinets and tile, spacious living area and bedrooms, all new ceiling fans and light fixtures, and fresh paint. The exterior of this home features a large, fenced-in yard, detached shed, landscaping, fresh paint, and sits on a quarter acre!

24. 2022-04-21
    status Pending 720-char remark

    Show marketing remark (720 chars)

    * * MULTIPLE OFFERS * * All highest and best offers are due by 10pm Wednesday 4/20/2022 * * All of the work has been done for you at this move-in ready home! This property has been fully updated and renovated. The interior of this home features a brand new kitchen with stainless steel appliances, granite countertops and new cabinets, new A/C, new windows, gorgeous floor to ceiling fireplace with mantle and raised hearth, updated bathrooms with granite countertops, new cabinets and tile, spacious living area and bedrooms, all new ceiling fans and light fixtures, and fresh paint. The exterior of this home features a large, fenced-in yard, detached shed, landscaping, fresh paint, and sits on a quarter acre!

25. 2022-04-18
    listed $199,950 Active 720-char remark

    Show marketing remark (720 chars)

    * * MULTIPLE OFFERS * * All highest and best offers are due by 10pm Wednesday 4/20/2022 * * All of the work has been done for you at this move-in ready home! This property has been fully updated and renovated. The interior of this home features a brand new kitchen with stainless steel appliances, granite countertops and new cabinets, new A/C, new windows, gorgeous floor to ceiling fireplace with mantle and raised hearth, updated bathrooms with granite countertops, new cabinets and tile, spacious living area and bedrooms, all new ceiling fans and light fixtures, and fresh paint. The exterior of this home features a large, fenced-in yard, detached shed, landscaping, fresh paint, and sits on a quarter acre!

26. 2021-10-26
    soldstatus $50,000
27. 2019-11-11
    historical
28. 2018-11-15
    soldstatus $35,000
29. 2011-12-14
    soldstatus $19,000
30. 2011-10-11
    listed $28,000
31. 2008-03-19
    historical
32. 2008-03-14
    listed $150,000
33. 2008-01-30
    listed $150,000
34. 2006-02-16
    soldstatus $133,900
35. 2005-11-28
    historical
36. 2005-10-11
    listed $139,900
37. 2004-07-01
    soldstatus $60,000
38. 2004-06-25
    soldstatus $60,000
39. 2004-05-06
    listed $66,000
40. 2004-04-26
    listed $66,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,600
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$5,544
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$2,473
• Taxable income: $1,571
• Est. tax owed @ 24.0%: −$377
• After-tax cash flow: $2,149/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: Hernando
• NCES district ID: 1200810
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $41,985
• Composite: 42.03/100
• National rank: #3329
• State rank: #38 of 73 in FL

Livability — Ridge Manor

• Score: 63/100
• State rank: #736
• US rank: #15912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ridge Manor, FL
• Population (ZIP): 19,296

Population outlook (Hernando County) Hauer SSP2

• Today (2025): 189,218 people
• By 2030: 194,367 · +2.7%
• By 2040: 203,398 · +7.5%
• By 2050: 209,589 · +10.8%
• By 2075: 218,452 · +15.4%
• By 2100: 205,923 · +8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 57% Hispanic / Latino 28% Black 10% Two or more races 10% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 5% Slovak 1% Romanian 1%
• Foreign-born: 13% · Canada, China, Jamaica
• Languages at home: 75% English-only · Spanish 21% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Hernando

• 2024 margin: Solid R (+37.0) · D 31.1% · R 68.2%
• 2008→2024 swing: -33.5pp toward R · 2008: -3.6pp · 2024: -37.0pp
• All cycles: 2024: R+37.0 2020: R+30.2 2016: R+29.0 2012: R+8.5 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.36%
• Current HPI: 448.7
• 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

+28.8% since first listed

25 events — show timeline

• 2025-12-28 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-28 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-12-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-08-01 Listed $85,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-01 Listed $85,000 Stellar MLS as Distributed by MLS Grid
• 2022-06-20 Sold (Public Records) $210,000 Public Records
• 2022-06-14 Sold (MLS) $210,000 Stellar MLS as Distributed by MLS Grid
• 2022-04-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-04-18 Listed $199,950 Stellar MLS as Distributed by MLS Grid
• 2021-10-26 Sold (Public Records) $50,000 Public Records
• 2019-11-11 Listing Removed — HCAR
• 2018-11-15 Sold (Public Records) $35,000 Public Records
• 2011-12-14 Sold (MLS) $19,000 Stellar MLS as Distributed by MLS Grid
• 2011-10-11 Listed $28,000 Stellar MLS as Distributed by MLS Grid
• 2008-03-19 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-03-14 Listed $150,000 HCAR
• 2008-01-30 Listed $150,000 Stellar MLS as Distributed by MLS Grid
• 2006-02-16 Sold (Public Records) $133,900 Public Records
• 2005-11-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2005-10-11 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 2004-07-01 Sold (Public Records) $60,000 Public Records
• 2004-06-25 Sold (MLS) $60,000 Stellar MLS as Distributed by MLS Grid
• 2004-05-06 Listed $66,000 HCAR
• 2004-04-26 Listed $66,000 Stellar MLS as Distributed by MLS Grid

Property tax history

-16.2%/yr

Latest (2025): $134 · -93.6% YoY. Source: county tax records.