3632 Tiki Dr · Holiday, FL 34691

$120,000

2 bd · 2.0 ba · 800 sqft · Manufactured public records · 42 Days on market

Built 1971 3,379 sqft lot Est $130k · 8% under $33/mo HOA · 2% 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 +29.9/30.0
• ARV discount +11.1/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +4.3/10.0
• Livability +3.3/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Florida living at its finest in the gated 55+ community of Tiki Village, where you own your land and are able to enjoy a lifestyle that’s both relaxed and affordable. This pet-friendly neighborhood offers a rare opportunity with a low HOA of just $400 per year.   As you arrive, you’re welcomed by a well-maintained home featuring two bedrooms, two bathrooms, and a spacious carport providing covered parking. Stepping inside, laminate flooring guides you throughout the main living spaces, creating a layout that flows easily from the living area into the dining space. A built-in hutch adds both charm and practical storage off the kitchen. Just beyond, a sunlit enclos

Key facts

• Gated community
• Laminate flooring
• Built in hutch

Tags

• GATED COMMUNITY
• PET FRIENDLY NEIGHBORHOOD
• LOW HOA
• WELL MAINTAINED HOME
• LAMINATE FLOORING
• BUILT IN HUTCH

Property features AI

Finance

• Financial info: Lease restrictions apply
• HOA & community: Has HOA (Tiki Village/ Mary / Dale); Annual association fee of $400 (equivalent to $33 monthly); Association approval required; Association covers grounds maintenance and private road; Gated community with fence restrictions; Senior community; Buyer approval required; Pets allowed (cats and dogs), max pet weight 40 lbs

Exterior

• Parking: Carport with 2 spaces
• Security: Gated community
• Utilities: Public water; Public sewer; Utilities: water and sewer available
• Home design: Residential mobile home (double wide); One story; North-facing
• Construction: Metal siding and vinyl siding; Metal roof; Crawlspace foundation; Built as double wide mobile home
• Exterior features: Patio; Hurricane shutters; Exterior lighting; Outdoor storage; Landscaped lot; Private lot; Chain link fencing; Asphalt road access

Interior

• Kitchen: Range; Range hood; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Open floorplan with living room/dining room combo; Thermostat; Window treatments
• Laundry & utility: Washer; Dryer; Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 4.7% in Holiday — 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 66/100 on livability (#623 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime D+, schools D, 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: Rents rising (+2.0%/yr); 324 active listings in the ZIP; 40 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).
• This rent runs 37% 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 $830 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.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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. 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.30% ✓
• Cap rate: 10.73%
• Cash-on-cash: 15.84%
• DSCR: 1.70
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $130,400
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3707 Tiki Dr	0.05mi	2/1.0	784 (-2%)	2mo	$80,000	$102	88
2100 Manoa Dr	0.65mi	2/2.0	864 (+8%)	5mo	$100,000	$116	52
2039 Kona Dr	0.63mi	2/2.0	864 (+8%)	6mo	$150,000	$174	52
2108 Hoyle Dr	0.72mi	2/2.0	736 (-8%)	14mo	$120,000	$163	42

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 · 2.05% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.22×
• Total profit: $7,325
• Equity at exit: $17,892

10-year hold

• IRR: 14.2%
• Equity multiple: 2.10×
• Total profit: $36,801
• Equity at exit: $10,375

Cash invested: $33,600 (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 34691

• Home prices YoY: -23.9%
• Rents YoY: 2.0%
• Active inventory: 324
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,560 high
• Mortgage (P&I): −$629
• Tax from tax record: −$77 /mo · $919/yr
• Insurance: −$50
• HOA: −$33
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $444

Break-even live

Break-even rent $999

Max offer price $120,000

Occupancy floor 67%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3742 Darlington Rd Holiday, FL	2.0	1.5	936	$1,800	$1.92	24d	1	0.26mi
3513 Trask Dr Holiday, FL	2.0	1.5	1000	$1,249	$1.25	24d	1	0.34mi
3749 Beechwood Dr Holiday, FL	2.0	1.0	1012	$1,673	$1.65	12d	1	0.43mi
3052 Salton St Holiday, FL	2.0	2.0	1067	$1,600	$1.50	24d	1	0.58mi
4351 Tahitian Gardens Cir Holiday, FL	2.0	1.0	825	$1,150	$1.39	24d	1	0.61mi
4337 Tahitian Gardens Cir Unit F Holiday, FL	2.0	1.0	768	$1,500	$1.95	24d	1	0.63mi
4205 Jordana Way Holiday, FL	1.0–3.0	1.0–2.0	1027	$1,404	$1.37	2d	13	0.65mi
4365 Tahitian Gardens Cir Unit C Holiday, FL	2.0	1.0	825	$1,400	$1.70	24d	1	0.68mi
4334 Tahitian Gardens Cir Unit C Holiday, FL	2.0	1.0	768	$1,450	$1.89	24d	1	0.68mi
4326 Tahitian Gardens Cir Unit 14E Holiday, FL	2.0	1.5	768	$2,000	$2.60	24d	1	0.70mi
4348 Plaza Dr Holiday, FL	1.0–2.0	1.0–2.0	860	$1,499	$1.74	2d	9	0.71mi
3405 Wilson Dr Holiday, FL	2.0	1.0	861	$1,650	$1.92	24d	1	0.71mi
4354 Tahitian Gardens Cir Unit F Holiday, FL	2.0	1.0	825	$1,500	$1.82	24d	1	0.73mi
4356 Tahitian Gardens Cir Unit C Holiday, FL	2.0	1.0	825	$1,350	$1.64	24d	1	0.74mi
4318 Tahitian Gardens Cir Unit B Holiday, FL	1.0	1.0	576	$1,200	$2.08	24d	1	0.75mi
4358 Tahitian Gardens Cir Unit G Holiday, FL	1.0	1.0	600	$1,350	$2.25	24d	1	0.76mi
4358 Tahitian Gardens Cir Holiday, FL	1.0	1.0	600	$1,350	$2.25	15d	1	0.76mi
3445 Wiltshire Dr Holiday, FL	2.0	1.5	992	$1,450	$1.46	22d	1	0.77mi
2051 Pleasure Dr Holiday, FL	2.0	1.0	720	$1,200	$1.67	24d	1	0.78mi
2132 Kepner Dr Holiday, FL	2.0	1.0	920	$1,295	$1.41	20d	1	0.84mi
3516 Sheryl Hill Dr Holiday, FL	2.0	2.0	848	$1,595	$1.88	24d	1	0.84mi
4313 Tahitian Gardens Cir Unit C Holiday, FL	2.0	1.5	825	$1,300	$1.58	15d	1	0.84mi
3439 Clydesdale Dr Holiday, FL	2.0	1.0	968	$1,395	$1.44	5d	1	0.92mi
3612 Springfield Dr Holiday, FL	2.0	1.5	1040	$1,450	$1.39	18d	1	0.92mi
3528 Rock Royal Dr Holiday, FL	2.0	1.0	1052	$1,900	$1.81	24d	1	0.93mi
1624 Springdale Dr Holiday, FL	2.0	1.0	1000	$1,575	$1.57	5d	1	1.08mi
3143 Pinon Dr Holiday, FL	2.0	2.0	1034	$1,695	$1.64	22d	1	1.09mi
4723 Aegean Ave Holiday, FL	2.0	1.0	1000	$1,636	$1.64	5d	1	1.10mi
2117 Calusa Trl Unit B Holiday, FL	1.0	1.0	708	$1,200	$1.69	5d	1	1.11mi
2610 Templewood Dr Holiday, FL	3.0	1.0	1056	$1,800	$1.70	5d	1	1.14mi
2122 Ranchita Trl Holiday, FL	2.0	1.0	648	$1,399	$2.16	24d	1	1.16mi
2509 Sweetwood Dr Holiday, FL	2.0	1.0	988	$1,650	$1.67	18d	1	1.21mi
3433 Atlantis Dr Holiday, FL	2.0	1.0	1024	$1,500	$1.46	24d	1	1.22mi
4823 Longwood Ave Holiday, FL	3.0	1.0	1122	$1,800	$1.60	5d	1	1.25mi
2552 Chancery Dr Holiday, FL	2.0	1.0	816	$1,595	$1.95	24d	1	1.27mi
4133 Grayton Dr New Port Richey, FL	2.0	1.5	1068	$1,727	$1.62	5d	1	1.31mi
1440 Brixton Ln Holiday, FL	2.0	1.0	952	$1,707	$1.79	24d	1	1.36mi
3433 Monticello St Holiday, FL	3.0	1.5	960	$1,650	$1.72	24d	1	1.39mi
1351 Whitehall Ln Holiday, FL	2.0	1.0	1078	$1,550	$1.44	24d	1	1.42mi
3623 Holiday Lake Dr Holiday, FL	3.0	1.0	1004	$1,525	$1.52	24d	1	1.45mi

HOA detail

• Monthly dues: $33 · $396/yr
• Likely covers: security

Listing history 14 events

1. 2026-06-18
   days on market $120,000 Active 42 DOM
2. 2026-06-17
   days on market $120,000 Active 41 DOM
3. 2026-06-16
   days on market $120,000 Active 40 DOM
4. 2026-06-15
   days on market $120,000 Active 39 DOM
5. 2026-06-13
   days on market $120,000 Active 37 DOM
6. 2026-06-09
   days on market $120,000 Active 33 DOM
7. 2026-06-08
   days on market $120,000 Active 32 DOM
8. 2026-06-07
   days on market $120,000 Active 31 DOM
9. 2026-06-04
   days on market $120,000 Active 28 DOM
10. 2026-06-03
    days on market $120,000 Active 27 DOM
11. 2026-06-02
    days on market $120,000 Active 26 DOM
12. 2026-06-01
    days on market $120,000 Active 25 DOM
13. 2026-05-31
    days on market $120,000 Active 24 DOM
14. 2026-05-07
    listed $120,000 Active

ⓘ 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: $919 · $77/mo
• Projected year-2 tax: $996 · $83/mo
• Expected delta: +$77/yr (+$6/mo · 8.4%)

ⓘ 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 (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,720
• − Mortgage interest: −$6,722
• − Property taxes: −$919
• − Insurance: −$600
• − Repairs & maintenance: −$1,498
• − Management: −$1,498
• − HOA: −$396
• − Depreciation: −$3,491
• Taxable income: $3,597
• Est. tax owed @ 24.0%: −$863
• After-tax cash flow: $4,459/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 — Holiday

• Score: 66/100
• State rank: #623
• US rank: #12124

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holiday, FL
• County: Pasco County · 524,098 people
• City population: 33,730
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 21,232
• Household income: $50,288
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 1031.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 15% Two or more races 11% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 2% Dominican 2%
• Common ancestry: Romanian 3% Iranian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 82% English-only · Spanish 8% Other Indo-European 5% 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: ▼ -102.84%
• Current HPI: 326.9843
• Rent YoY: ▲ 2.05%
• 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

1 event — show timeline

• 2026-05-07 Listed $120,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2025): $919 · +0.2% YoY. Source: county tax records.