6730 Homebound Way · New Port Richey East, FL 34655

$269,640

2 bd · 2.0 ba · 1,613 sqft · Townhouse · 100 Days on market

Built 2026 Est $242k · 11% over

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Why this score? — see what drove the F 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 +12.9/30.0
• Schools +4.3/10.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0
• Rent growth +1.3/5.0
• Appreciation +0.0/10.0

Listing remarks

This comfortable single-story home includes a versatile flex room and an open floorplan with a well-equipped kitchen, and shared dining and family room down the hall. The attached patio offers indoor-outdoor living experiences, while the nearby owner's suite is a private oasis with an en-suite bathroom. Plus, this home includes a convenient storage space for a golf cart or other recreational vehicles.

Key facts

• Open floorplan
• Flex room
• En-suite bathroom

Tags

• FLEX ROOM
• OPEN FLOORPLAN
• WELL-EQUIPPED KITCHEN
• ATTACHED PATIO
• OWNER'S SUITE
• EN-SUITE BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $270k.

Deal economics

• At list price, monthly cash flow is $-18 ($-216/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (13.4% below list).
• Recommended offer: $234k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Market conditions: Rents falling (-4.7%/yr); 546 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• This rent runs 33% of the median local income ($85k/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 $2k of loan paydown is wiped out by about $8k 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 100 days — a 9% lower offer ($245k) is reasonable based on typical stale-listing flexibility.

Recommended offer $233,592 (13.4% 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 100 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
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 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.87% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.29%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $241,950
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7525 Red Mill Cir	0.74mi	3/2.5 (+1)	1,662 (+3%)	0mo	$245,000	$147	53
8405 Blue Rock Dr	0.72mi	3/2.5 (+1)	1,662 (+3%)	8mo	$249,900	$150	48
7618 Red Mill Cir	0.74mi	3/2.5 (+1)	1,662 (+3%)	9mo	$229,000	$138	46
7650 Red Mill Cir	0.68mi	3/2.5 (+1)	1,513 (-6%)	7mo	$190,000	$126	45
7500 Red Mill Cir	0.73mi	3/2.5 (+1)	1,513 (-6%)	12mo	$265,000	$175	39
7626 Red Mill Cir	0.72mi	3/2.5 (+1)	1,513 (-6%)	14mo	$256,000	$169	38

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: -20.2%
• Equity multiple: 0.32×
• Total profit: $-51,652
• Equity at exit: $40,204

10-year hold

• IRR: -21.7%
• Equity multiple: 0.04×
• Total profit: $-72,770
• Equity at exit: $23,314

Cash invested: $75,499 (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 34655

• Home prices YoY: -22.9%
• Rents YoY: -4.7%
• Active inventory: 546
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,336 high
• Mortgage (P&I): −$1,414
• Tax est. 1.5%: −$337 /mo · $4,045/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $-18

Break-even live

Break-even rent $2,359

Max offer price $267,030

Occupancy floor 96%

Sensitivity live

Price	-10% $168	-5% $75	+0% $-18	+5% $-111	+10% $-204
Rent	-10% $-203	-5% $-110	+0% $-18	+5% $74	+10% $167
Rate	-1.0pp $118	-0.5pp $51	base $-18	+0.5pp $-88	+1.0pp $-159

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: $67,410
• Closing costs: $8,089
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6692 Homebound Way New Port Richey, FL	2.0	2.0	1613	$2,595	$1.61	0d	1	0.01mi
6692 Homebound Way New Port Richey, FL	2.0	2.0	1630	$2,600	$1.60	25d	1	0.01mi
8427 Blue Rock Dr New Port Richey, FL	3.0	2.5	1513	$2,250	$1.49	4d	1	0.75mi
7542 Red Mill Cir New Port Richey, FL	3.0	2.5	1662	$2,100	$1.26	25d	1	0.80mi
7544 Red Mill Cir New Port Richey, FL	3.0	2.5	1513	$2,200	$1.45	18d	1	0.80mi
7810 Cayuga Dr New Port Richey, FL	2.0	2.0	1838	$1,973	$1.07	6d	1	1.14mi
7911 Foxwood Dr New Port Richey, FL	3.0	2.0	1529	$1,749	$1.14	13d	1	1.14mi
8504 Shallow Creek Ct New Port Richey, FL	3.0	2.5	1686	$2,050	$1.22	25d	1	1.24mi
7829 Glencoe Dr New Port Richey, FL	3.0	2.0	1658	$2,295	$1.38	21d	1	1.33mi

Taxation est. · year 1

• Rental income: $28,031
• − Mortgage interest: −$15,104
• − Property taxes: −$4,045
• − Insurance: −$1,348
• − Repairs & maintenance: −$2,242
• − Management: −$2,242
• − Depreciation: −$7,844
• Taxable loss: −$4,795
• Est. tax savings @ 24.0%: +$1,151
• After-tax cash flow: $934/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

• County: Pasco County · 524,098 people
• City population: 36,086
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 49,964
• Household income: $85,470
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 1372.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 7% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 12% · Canada, Vietnam, Jamaica
• Languages at home: 87% English-only · Spanish 6% Arabic 2% Other Indo-European 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: ▼ -82.58%
• Current HPI: 278.3649
• Rent YoY: ▼ -4.70%
• 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