20893 Haulover Cv Unit E 2 · Land O' Lakes, FL 33558

$130,000

1 bd · 1.0 ba · 456 sqft · Condo public records · 12 Days on market

Built 1982 $487/mo HOA · 31% of rent

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Why this score? — see what drove the D 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 +11.9/30.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +4.3/10.0
• DSCR +3.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Desirable screen enclosed end unit condo close to lake, dock and fishing pier. This condo’s kitchen was recently remodeled with grey kitchen cabinets, a built-in pantry, wall to wall tiles and backsplash. Upgraded stainless appliances. The bathroom vanity has been replaced. High cathedral ceiling in living room and bedroom. Mirrored accent wall in living/dining area and bedroom also has a mirrored accent wall from floor to ceiling. A utility closet has a stackable washer and dryer and a tankless water heater. End units have two extra windows. There is a loft over the kitchen and bathroom area that provides extra storage. The condo has tiled cera

Key facts

• Built-in pantry
• Remodeled kitchen
• Utility closet

Tags

• REMODELED KITCHEN
• BUILT-IN PANTRY
• UPGRADED STAINLESS APPLIANCES
• REPLACED BATHROOM VANITY
• HIGH CATHEDRAL CEILING
• UTILITY CLOSET

Property features AI

Finance

• Other: Partially furnished; Home is homestead exempt
• Financial info: Total monthly fees $487; Total annual fees $5,844; Lease restrictions apply
• HOA & community: Paradise Lakes Condo Association; Monthly condo fee $487 (includes cable TV, common area taxes, escrow reserves, insurance, internet, structure and grounds maintenance, management, private road, sewer, trash, water); Association approval required; Association amenities: cable TV, gated, vehicle restrictions; Community features: buyer approval required, community mailbox, deed restrictions, golf carts allowed, reclaimed water irrigation, sidewalks, street lights; Pets allowed with restrictions (breed restrictions, cats and dogs allowed, number limit)

Exterior

• Parking: Golf cart parking; Open parking
• Security: Security gate
• Utilities: Public water; Public sewer; BB/HS internet available; Cable available and connected; Electricity connected; Fiber optics; Fire hydrant nearby; Sewer connected; Water connected
• Home design: Condominium (residential); One story; Entry level: 2nd floor unit; Faces northwest; Completed condition; PUD zoning
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Building/E unit identifier: E
• Exterior features: Covered front porch; Screened porch; Conservation area; Landscaped; Sidewalks; Paved/private road; Private lot; Mature landscaping; Fishing pier; Lagoon frontage with lake view and lake access

Interior

• Kitchen: Disposal; Microwave; Range; Refrigerator; Tankless water heater
• Bedrooms: 1 bedroom; Loft
• Flooring: Ceramic tile
• Bathrooms: 1 full bath
• Heating & cooling: Ductless heating; Wall/window unit(s) for cooling
• Interior features: Cathedral ceilings; Ceiling fans; Living room/dining room combo; Blinds
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $-33 ($-396/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (4.5% below list).
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $124k (4.5% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 3.7% in Land O' Lakes — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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 (-3.1%/yr); 267 active listings in the ZIP; high-income renter base; 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• This rent is only 16% of the median local income ($116k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $45k; list at $130k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,177 (4.5% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.21% ✓
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 6.9

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: -22.8%
• Equity multiple: 0.24×
• Total profit: $-27,519
• Equity at exit: $19,383

10-year hold

• IRR: -35.6%
• Equity multiple: -0.19×
• Total profit: $-43,441
• Equity at exit: $11,240

Cash invested: $36,400 (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 33558

• Home prices YoY: -14.2%
• Rents YoY: -3.1%
• Active inventory: 267
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,573 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$53 /mo · $630/yr
• Insurance: −$54
• HOA: −$487
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $-33

Break-even live

Break-even rent $1,614

Max offer price $124,177

Occupancy floor 97%

Sensitivity live

Price	-10% $41	-5% $4	+0% $-33	+5% $-70	+10% $-107
Rent	-10% $-157	-5% $-95	+0% $-33	+5% $29	+10% $91
Rate	-1.0pp $33	-0.5pp $0	base $-33	+0.5pp $-67	+1.0pp $-101

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $487 · $5,844/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-17
   status $130,000 Pending 12 DOM
2. 2026-06-16
   days on market $130,000 Active 12 DOM
3. 2026-06-15
   days on market $130,000 Active 11 DOM
4. 2026-06-13
   days on market $130,000 Active 9 DOM
5. 2026-06-09
   days on market $130,000 Active 5 DOM
6. 2026-06-08
   days on market $130,000 Active 4 DOM
7. 2026-06-07
   remarks 693-char remark
8. 2026-06-07
   listed $130,000 Active 3 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: $630 · $53/mo
• Projected year-2 tax: $1,079 · $90/mo
• Expected delta: +$449/yr (+$37/mo · 71.2%)

ⓘ 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 10/10 Extreme 7 d/yr ≥108°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $18,873
• − Mortgage interest: −$7,282
• − Property taxes: −$630
• − Insurance: −$650
• − Repairs & maintenance: −$1,510
• − Management: −$1,510
• − HOA: −$5,844
• − Depreciation: −$3,782
• Taxable loss: −$2,335
• Est. tax savings @ 24.0%: +$560
• After-tax cash flow: $165/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 — Land O' Lakes

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Land O' Lakes, FL
• County: Hillsborough County · 1,540,968 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 33,165
• Household income: $116,090
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 639.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Hispanic / Latino 21% Two or more races 16% Asian 11% Black 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 5%
• Common ancestry: Romanian 4% Slovak 2% Scotch-Irish 2%
• Foreign-born: 16% · Canada, Jamaica, China
• Languages at home: 75% English-only · Spanish 13% Other Indo-European 4% Other Asian/Pacific 3%

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: ▼ -53.60%
• Current HPI: 324.0508
• Rent YoY: ▼ -3.12%
• 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

+198.9% since first listed

6 events — show timeline

• 2026-06-04 Listed $130,000 Stellar MLS as Distributed by MLS Grid
• 2019-04-25 Sold (Public Records) $45,000 Public Records
• 2014-09-09 Sold (Public Records) $59,500 Public Records
• 2004-12-22 Sold (Public Records) $84,900 Public Records
• 2002-06-20 Sold (Public Records) $76,000 Public Records
• 1984-12-01 Sold (Public Records) $43,500 Public Records

Property tax history

-0.5%/yr

Latest (2025): $630 · +1.9% YoY. Source: county tax records.