15229 Myrtle St · Dade City North, FL 33523

$225,000

2 bd · 1.0 ba · 1,136 sqft · SingleFamily public records · 1 Days on market

Built 1955 8,280 sqft lot Est $212k · 6% over

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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 +18.9/30.0
• Appreciation +10.0/10.0
• DSCR +5.9/10.0
• ARV discount +4.8/15.0
• Schools +4.3/10.0
• 1% rule +3.8/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

* * * AGENTS SEE REALTOR REMARKS * * * Looking for a FIXER UPPER? This 3 Bedroom 1 bathroom home will make a great investment flip. The home features over 1100 sqft of living space. Home is being sold as-is, where is. Home needs TLC but has so much potential you won’t believe it!! Minutes away from I-75 and historic Downtown Dade City. Properties like this are in SHORT SUPPLY!!! MUST SEE TODAY!!

Key facts

• Modernized kitchen
• Brand new roof
• Water heater

Tags

• BRAND NEW ROOF
• HVAC SYSTEM
• WATER HEATER
• OPEN-CONCEPT LIVING AREA
• DURABLE TILE FLOORING
• MODERNIZED KITCHEN

Property features AI

Finance

• Other: Residential zoning (R4)
• Financial info: No lease restrictions; Annual tax information available (not included per instructions)
• HOA & community: No HOA association indicated

Exterior

• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence; One story; Home faces south
• Construction: Block construction; Metal roof; Slab foundation; Built on a 0 to less than 1/4 acre lot
• Exterior features: Paved road access; Lot approximately 0.19 acres

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (12.1% below list).
• Recommended offer: $198k (12.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#849 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing 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: Pasco High School (math 40% / reading 40%, grade F, #296 of 667 statewide, top 45%, 1,639 students, 66% FRL) — zoned schools average 66% FRL vs 48% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 295 active listings in the ZIP; 6 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).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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 $89k; list at $225k implies a 153% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $197,723 (12.1% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.88% ✗
• Cap rate: 7.51%
• Cash-on-cash: 4.36%
• DSCR: 1.19
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $212,432
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36850 Blanton Rd	0.33mi	3/2.0 (+1)	1,152 (+1%)	8mo	$225,000	$195	67
15306 16th St	0.58mi	3/2.0 (+1)	1,089 (-4%)	7mo	$253,000	$232	51
15131 Jeanie Ln	0.18mi	3/1.0 (+1)	968 (-15%)	21mo	$163,000	$168	44
37045 North Ave	0.67mi	3/1.5 (+1)	1,020 (-10%)	2mo	$230,000	$225	43
14806 Dade	0.60mi	3/1.0 (+1)	1,252 (+10%)	21mo	$80,000	$64	33
37302 Marshall Dr	0.71mi	3/1.5 (+1)	1,256 (+11%)	21mo	$235,000	$187	25
15301 16th St	0.55mi	3/2.0 (+1)	1,296 (+14%)	22mo	$170,000	$131	24

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: 27.4%
• Equity multiple: 3.17×
• Total profit: $137,016
• Equity at exit: $202,698

10-year hold

• IRR: 23.9%
• Equity multiple: 7.22×
• Total profit: $391,811
• Equity at exit: $437,126

Cash invested: $63,000 (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 33523

• Home prices YoY: 3.8%
• Active inventory: 295
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,977 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$59 /mo · $713/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $229

Break-even live

Break-even rent $1,687

Max offer price $225,000

Occupancy floor 83%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14907 Lucca Way Unit 1 Dade City, FL	3.0	2.5	1386	$2,100	$1.52	24d	1	0.65mi
14635 State St Dade City, FL	3.0	1.5	1040	$1,761	$1.69	22d	1	0.80mi
37540 Martin Luther King Blvd Unit A Dade City, FL	2.0	1.0	784	$1,200	$1.53	24d	1	1.11mi
37802 Whitehouse Ave Dade City, FL	2.0	1.0	1344	$1,150	$0.86	24d	1	1.12mi
37329 Magnolia Ave Unit 1234471P Dade City, FL	3.0	2.0	1216	$3,391	$2.79	5d	1	1.12mi
13921 19th St Unit 1234474P Dade City, FL	2.0	1.0	936	$2,013	$2.15	17d	1	1.38mi

Listing history 2 events

1. 2026-06-17
   remarks 687-char remark
2. 2026-06-17
   listed $225,000 Active 1 DOM

ⓘ 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: $713 · $59/mo
• Projected year-2 tax: $1,868 · $156/mo
• Expected delta: +$1,155/yr (+$96/mo · 162.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,727
• − Mortgage interest: −$12,603
• − Property taxes: −$713
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,898
• − Management: −$1,898
• − Depreciation: −$6,545
• Taxable loss: −$1,056
• Est. tax savings @ 24.0%: +$253
• After-tax cash flow: $3,001/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 — Dade City North

• Score: 57/100
• State rank: #849
• US rank: #21700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 19,296

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: 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 · 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: ▲ 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

+125.0% since first listed

6 events — show timeline

• 2026-06-17 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-08 Listed $185,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-11 Sold (Public Records) $89,000 Public Records
• 2023-10-06 Sold (MLS) $89,000 Stellar MLS as Distributed by MLS Grid
• 2023-09-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-08-28 Listed $100,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2025): $713 · +4.0% YoY. Source: county tax records.