7104 Kirsch Ct #1 · New Port Richey East, FL 34653

$125,000

2 bd · 2.0 ba · 1,303 sqft · Condo public records · 30 Days on market

Built 1982 $437/mo HOA · 24% of rent

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Why this score? — see what drove the C- 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 +19.6/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy effortless Florida living in this desirable 2-bedroom, 2-bath corner condo in sought-after Pasco County! Perfect for retirees, snowbirds, seasonal residents, or anyone seeking a low-maintenance coastal lifestyle, this private corner unit offers added peace and quiet with no rear neighbors. The HOA provides true maintenance-free living by covering exterior maintenance, roof, HVAC, lawn care, pest control, flood insurance, and parking — making this an ideal lock-and-leave winter retreat or full-time residence. Inside, you'll find a fantastic opportunity to customize and update the space to match your personal style while building instant equity. Residents enjoy resort-style amenit

Key facts

• Private corner unit
• Clubhouse
• Community pool

Tags

• PRIVATE CORNER UNIT
• MAINTENANCE-FREE LIVING
• RESORT-STYLE AMENITIES
• COMMUNITY POOL
• CLUBHOUSE
• GULF ACCESS

Property features AI

Finance

• Other: Homestead exemption claimed
• Financial info: Total monthly fees $437.50; Total annual fees $5,250; Lease restrictions apply
• HOA & community: HOA required (Brandywine Condo One); Monthly association fee $382.50 plus an additional monthly fee $55; Association fee includes common area taxes, escrow reserves fund, structure maintenance, grounds maintenance, and recreational facilities; Association approval required; Community clubhouse, pool, and tennis courts; Pets allowed

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Residential condominium; One story; East-facing
• Construction: Concrete construction; Shingle roof; Slab foundation; Built as part of Building 1
• Exterior features: Other exterior features; Asphalt road surface

Interior

• Kitchen: Convection oven; Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Concrete; Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cathedral ceilings; Ceiling fans; Open floorplan; Thermostat
• Laundry & utility: Inside laundry with washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.3% in New Port Richey East — 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 68/100 on livability (#499 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment 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.
• Zoned schools: Calusa Elementary School (math 26% / reading 27%, grade F, #2,009 of 2,144 statewide, top 94%, 473 students, 85% FRL); Chasco Middle School (math 32% / reading 31%, grade F, #453 of 571 statewide, top 81%, 688 students, 84% FRL) — zoned schools average 85% FRL vs 48% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 51% district-wide (-22 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 (-2.9%/yr); 306 active listings in the ZIP; 38 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 43% of the median local income ($50k/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 $864 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 30 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 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: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.43% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.94%
• DSCR: 1.22
• GRM: 5.8

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: -13.3%
• Equity multiple: 0.54×
• Total profit: $-16,039
• Equity at exit: $18,638

10-year hold

• IRR: -12.8%
• Equity multiple: 0.39×
• Total profit: $-21,258
• Equity at exit: $10,808

Cash invested: $35,000 (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 34653

• Home prices YoY: -18.4%
• Rents YoY: -2.9%
• Active inventory: 306
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,785 high
• Mortgage (P&I): −$656
• Tax from tax record: −$122 /mo · $1,461/yr
• Insurance: −$52
• HOA: −$437
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $144

Break-even live

Break-even rent $1,603

Max offer price $125,000

Occupancy floor 87%

Sensitivity live

Price	-10% $215	-5% $179	+0% $144	+5% $109	+10% $73
Rent	-10% $3	-5% $74	+0% $144	+5% $215	+10% $285
Rate	-1.0pp $207	-0.5pp $176	base $144	+0.5pp $112	+1.0pp $79

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7039 Lenox Dr New Port Richey, FL	3.0	2.0	1300	$1,795	$1.38	14d	1	0.26mi
7212 Carlton Arms Dr New Port Richey, FL	2.0	1.0–2.0	877	$1,609	$1.83	26d	1	0.45mi
6548 Batea Ter New Port Richey, FL	3.0	2.0	1120	$1,800	$1.61	26d	1	0.55mi
6635 Crossbow Ln New Port Richey, FL	2.0	2.0	1082	$1,695	$1.57	19d	1	0.56mi
6474 Taylor Ct New Port Richey, FL	3.0	2.0	1620	$2,400	$1.48	12d	1	0.66mi
6447 Eric Dr New Port Richey, FL	2.0	2.0	1133	$1,400	$1.24	26d	1	0.73mi
6405 Eric Dr New Port Richey, FL	2.0	2.0	1133	$1,400	$1.24	26d	1	0.80mi
6250 Kentfield Ave New Port Richey, FL	3.0	2.0	1578	$2,500	$1.58	6d	1	0.85mi
7810 Cayuga Dr New Port Richey, FL	2.0	2.0	1838	$1,973	$1.07	6d	1	0.87mi
6338 Aberdeen Ave New Port Richey, FL	3.0	2.0	1000	$2,300	$2.30	18d	1	0.89mi
6430 Lomand Ave New Port Richey, FL	2.0	1.5	952	$1,550	$1.63	26d	1	0.89mi
6300 Limerick Ave New Port Richey, FL	3.0	2.0	953	$1,650	$1.73	26d	1	0.93mi
6430 Polk St New Port Richey, FL	3.0	2.0	1270	$1,800	$1.42	23d	1	0.94mi
8030 Gabriel Dr Port Richey, FL	3.0	2.0	1501	$2,025	$1.35	6d	1	0.95mi
6332 Pennsylvania Ave New Port Richey, FL	2.0	1.0	962	$1,250	$1.30	22d	1	0.98mi
6332 Pennsylvania Ave New Port Richey, FL	2.0	1.0	920	$1,250	$1.36	26d	1	0.98mi
7911 Foxwood Dr New Port Richey, FL	3.0	2.0	1529	$1,749	$1.14	14d	1	0.99mi
7713 Heather St New Port Richey, FL	3.0	2.0	1344	$1,800	$1.34	26d	1	1.04mi
8102 Chickasaw Ln Port Richey, FL	3.0	2.0	1688	$1,969	$1.17	6d	1	1.05mi
7829 Glencoe Dr New Port Richey, FL	3.0	2.0	1658	$2,295	$1.38	21d	1	1.06mi
6073 Vermont Ave New Port Richey, FL	3.0	2.0	1562	$2,250	$1.44	26d	1	1.07mi
6131 Central Ave New Port Richey, FL	3.0	2.0	1682	$2,500	$1.49	26d	1	1.15mi
8228 Chasco Woods Blvd Port Richey, FL	1.0–3.0	1.0–2.0	966	$1,378	$1.43	0d	22	1.21mi
8356 Journet Blvd Port Richey, FL	1.0–2.0	1.0	843	$1,315	$1.56	26d	1	1.23mi
7544 Red Mill Cir New Port Richey, FL	3.0	2.5	1513	$2,200	$1.45	19d	1	1.28mi
7542 Red Mill Cir New Port Richey, FL	3.0	2.5	1662	$2,100	$1.26	26d	1	1.29mi
5822 Congress St #104 New Port Richey, FL	2.0	2.0	920	$1,650	$1.79	26d	1	1.31mi
5816 Congress St New Port Richey, FL	2.0	2.0	920	$1,400	$1.52	26d	1	1.34mi
8427 Blue Rock Dr New Port Richey, FL	3.0	2.5	1513	$2,250	$1.49	4d	1	1.38mi
6692 Homebound Way New Port Richey, FL	2.0	2.0	1613	$2,595	$1.61	1d	1	1.40mi
6692 Homebound Way New Port Richey, FL	2.0	2.0	1630	$2,600	$1.60	26d	1	1.40mi
5800 Virginia Ave New Port Richey, FL	2.0	1.0	900	$1,495	$1.66	22d	1	1.40mi
5800 Virginia Ave New Port Richey, FL	2.0	1.0	900	$1,550	$1.72	14d	1	1.40mi
7309 Washington St New Port Richey, FL	2.0	1.0	1311	$1,600	$1.22	3d	1	1.41mi
7616 Washington St Port Richey, FL	3.0	2.0	1180	$1,970	$1.67	26d	1	1.43mi
7630 Tortuga Bay Blvd Port Richey, FL	3.0	2.0	1180	$1,825	$1.55	14d	17	1.43mi
5847 Nebraska Ave New Port Richey, FL	1.0	1.0	900	$1,350	$1.50	26d	1	1.46mi
7730 Washington St Port Richey, FL	3.0	1.0	1040	$1,575	$1.51	26d	1	1.49mi

HOA detail condo

• Monthly dues: $437 · $5,244/yr
• Likely covers: landscapingexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-22
   days on market $125,000 Active 30 DOM
2. 2026-06-18
   days on market $125,000 Active 27 DOM
3. 2026-06-17
   days on market $125,000 Active 26 DOM
4. 2026-06-16
   days on market $125,000 Active 25 DOM
5. 2026-06-15
   price $125,000 Active 24 DOM
6. 2026-06-15
   days on market $130,000 Active 24 DOM
7. 2026-06-13
   days on market $130,000 Active 22 DOM
8. 2026-06-09
   days on market $130,000 Active 18 DOM
9. 2026-06-08
   days on market $130,000 Active 17 DOM
10. 2026-06-07
    days on market $130,000 Active 16 DOM
11. 2026-06-04
    days on market $130,000 Active 13 DOM
12. 2026-06-03
    days on market $130,000 Active 12 DOM
13. 2026-06-02
    days on market $130,000 Active 11 DOM
14. 2026-06-01
    days on market $130,000 Active 10 DOM
15. 2026-05-31
    days on market $130,000 Active 9 DOM
16. 2026-05-22
    listed $130,000 Active
17. 2026-05-11
    historical
18. 2026-03-25
    status Active
19. 2026-02-20
    status Pending
20. 2026-02-13
    listed $150,000 Active
21. 2004-08-25
    listed $81,900
22. 2004-06-17
    listed $81,900
23. 2004-03-22
    listed $81,900

ⓘ 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: $1,461 · $122/mo
• Projected year-2 tax: $1,461 · $122/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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 26 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,424
• − Mortgage interest: −$7,002
• − Property taxes: −$1,461
• − Insurance: −$625
• − Repairs & maintenance: −$1,714
• − Management: −$1,714
• − HOA: −$5,244
• − Depreciation: −$3,636
• Taxable income: $28
• Est. tax owed @ 24.0%: −$7
• After-tax cash flow: $1,722/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 — New Port Richey East

• Score: 68/100
• State rank: #499
• US rank: #9203

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Port Richey East, FL
• County: Pasco County · 524,098 people
• City population: 36,086
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 35,945
• Household income: $49,563
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1439.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% Russian/Polish/Slavic 2%

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: ▼ -73.10%
• Current HPI: 324.6519
• Rent YoY: ▼ -2.92%
• 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

+58.7% since first listed

8 events — show timeline

• 2026-05-22 Listed $130,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-11 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-13 Listed $150,000 Stellar MLS as Distributed by MLS Grid
• 2004-08-25 Listed $81,900 Stellar MLS as Distributed by MLS Grid
• 2004-06-17 Listed $81,900 Stellar MLS as Distributed by MLS Grid
• 2004-03-22 Listed $81,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+12.5%/yr

Latest (2025): $1,461 · +6.8% YoY. Source: county tax records.