35025 Mcculloughs Leap · Zephyrhills, FL 33541

$112,000

2 bd · 2.0 ba · 936 sqft · Manufactured public records · 126 Days on market

Built 1986 4,475 sqft lot Est $117k · at est. $60/mo HOA · 3% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.4/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

COLONY HILLS! One of the nicest homes in the NICEST park! Enjoy all that Colony Hills offers: huge recreation hall, pool table, craft center, lending library, heated pool & spa, shuffleboard, tennis court, horseshoes and ALL THE FUN YOU CAN IMAGINE!This furnished two bedroom two bath home is READY for you to move in! The side-by-side carport allows lots of room for your two cars, and possible a guest or two! There is a glassed Florida room complete with all the furniture you need for "fresh air"entertaining! The living room is accessed through the Florida room, and is spacious and even has a built in cabinetry area. There are plant shelves also for showing off your collections. The dining room has a large table with 6 chairs, and a built in china cabinet. The kitchen has a "table for two" complete with comfy chairs. The appliances are all upgraded and in perfect condition. There are sufficient cabinets for storage, and a closet pantry. The master bedroom has a whole wall of closets, plus a large step in shower. The vanities in both bedrooms have been replaced with solid surface tops. The guest bedroom is nicely done and has access to the hall bath. The window treatments here are perfect! There is a screened porch on the back, and a shed with room for storage and the washer & dryer. This is a GREAT home at a GREAT price and in GREAT condition!

Key facts

• Oversized carport
• Ample cabinetry
• Florida room

Tags

• OVERSIZED CARPORT
• FLORIDA ROOM
• BUILT-IN STORAGE NOOK
• BUILT-IN HUTCH
• BREAKFAST BAR SEATING
• AMPLE CABINETRY

Property features AI

Finance

• Other: Property type: Residential — Manufactured Home; Body type: Double Wide; Zoning: RMH; Lot is landscaped, paved, in county
• Financial info: Lease restrictions apply
• HOA & community: Has HOA (Colony Hills Office) with buyer approval required; Monthly HOA $60 (annual $720); association fee required; Community clubhouse, pool, and tennis courts; Deed restrictions; Senior community; Pets allowed with limits (max ~20 lbs)

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer; Electricity connected; Broadband/high-speed internet available; Water connected; Sewer connected
• Home design: Manufactured double-wide home; Single-story; South-facing; Homesteaded
• Construction: Metal roof; Other construction materials; Crawlspace foundation; Built as a manufactured home
• Exterior features: Covered, enclosed and screened porches (front and rear); Patios/porches with sliding doors; Exterior lighting; Rain gutters; Exterior storage

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Ceiling fans; Eat-in kitchen; Florida room
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $112k.

Deal economics

• At list price, monthly cash flow is $719 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 3.7% in Zephyrhills — 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 72/100 on livability (#330 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime C-, amenities F, commute 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: Chester W. Taylor Jr. Elementary School (math 33% / reading 37%, grade F, #1,697 of 2,144 statewide, top 80%, 654 students, 77% FRL); Raymond B. Stewart Middle School (math 33% / reading 30%, grade F, #453 of 571 statewide, top 81%, 988 students, 77% FRL); Zephyrhills High School (math 35% / reading 37%, grade F, #359 of 667 statewide, top 55%, 1,656 students, 70% FRL) — zoned schools average 75% FRL vs 48% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 51% district-wide (-17 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 (-2.5%/yr); 862 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k 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 + 0.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $18k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $112k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $98,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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 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: 1.66% ✓
• Cap rate: 13.99%
• Cash-on-cash: 27.51%
• DSCR: 2.22
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $117,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35131 Mcculloughs Leap	0.12mi	2/2.0	960 (+3%)	2mo	$120,000	$125	89
4101 Joyful Ln	0.16mi	2/2.0	924 (-1%)	8mo	$155,000	$168	84
35051 Colony Hills Dr	0.06mi	2/2.0	960 (+3%)	11mo	$120,000	$125	84
3901 William Hume Dr	0.27mi	2/2.0	936 (0%)	16mo	$149,900	$160	74
4051 Joyful Ln	0.16mi	2/2.0	924 (-1%)	20mo	$144,900	$157	74
4006 William Hume Dr	0.22mi	2/2.0	888 (-5%)	13mo	$140,000	$158	70
34915 Adam Ave	0.54mi	2/2.0	1,008 (+8%)	1mo	$123,000	$122	61
4655 Madison Ave	0.59mi	3/2.0 (+1)	984 (+5%)	4mo	$135,000	$137	56
35152 Zephyr Shores Dr	0.61mi	2/1.5	924 (-1%)	16mo	$113,400	$123	54
35128 Dale Ave	0.61mi	2/2.0	852 (-9%)	8mo	$84,900	$100	50
34925 Carl Ave	0.49mi	2/2.0	1,056 (+13%)	13mo	$120,000	$114	45
34840 Carl Ave	0.49mi	2/2.0	840 (-10%)	20mo	$95,000	$113	44

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: 18.2%
• Equity multiple: 1.71×
• Total profit: $22,201
• Equity at exit: $16,700

10-year hold

• IRR: 24.4%
• Equity multiple: 2.83×
• Total profit: $57,292
• Equity at exit: $9,684

Cash invested: $31,360 (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 33541

• Home prices YoY: -15.2%
• Rents YoY: -2.5%
• Active inventory: 862
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,858 high
• Mortgage (P&I): −$587
• Tax from tax record: −$55 /mo · $661/yr
• Insurance: −$47
• HOA: −$60
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $719

Break-even live

Break-even rent $948

Max offer price $112,000

Occupancy floor 56%

Sensitivity live

Price	-10% $782	-5% $751	+0% $719	+5% $687	+10% $655
Rent	-10% $572	-5% $645	+0% $719	+5% $792	+10% $866
Rate	-1.0pp $775	-0.5pp $747	base $719	+0.5pp $690	+1.0pp $660

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33976 Lusitano Dr Wesley Chapel, FL	1.0–3.0	1.0–2.5	1251	$2,284	$1.82	0d	70	1.20mi
33780 Charleston Club Cir Wesley Chapel, FL	1.0–3.0	1.0–2.0	1059	$1,956	$1.85	1d	13	1.26mi
3829 Kim Dr Wesley Chapel, FL	2.0	1.0	832	$1,395	$1.68	26d	1	1.27mi
3030 Beaver Creek Dr Wesley Chapel, FL	2.0	1.0	700	$950	$1.36	17d	1	1.31mi
35940 Inspiration Dr Zephyrhills, FL	1.0–3.0	1.0–2.0	1034	$1,788	$1.73	1d	22	1.42mi
34002 Painthorse Way Wesley Chapel, FL	1.0–3.0	1.0–2.0	1022	$2,208	$2.16	5d	46	1.47mi

HOA detail

• Monthly dues: $60 · $720/yr
• Likely covers: pool

Listing history 25 events

1. 2026-06-18
   days on market $112,000 Active 126 DOM
2. 2026-06-17
   days on market $112,000 Active 125 DOM
3. 2026-06-16
   days on market $112,000 Active 124 DOM
4. 2026-06-15
   days on market $112,000 Active 123 DOM
5. 2026-06-13
   days on market $112,000 Active 121 DOM
6. 2026-06-09
   days on market $112,000 Active 117 DOM
7. 2026-06-08
   days on market $112,000 Active 116 DOM
8. 2026-06-07
   days on market $112,000 Active 115 DOM
9. 2026-06-04
   days on market $112,000 Active 112 DOM
10. 2026-06-03
    days on market $112,000 Active 111 DOM
11. 2026-06-02
    days on market $112,000 Active 110 DOM
12. 2026-06-01
    days on market $112,000 Active 109 DOM
13. 2026-05-31
    days on market $112,000 Active 108 DOM
14. 2026-05-06
    price $112,000
15. 2026-04-15
    price $114,900
16. 2026-03-17
    price $119,900
17. 2026-02-12
    listed $129,900 Active
18. 2012-06-20
    soldstatus $50,000
19. 2012-06-15
    soldstatus $50,000 1402-char remark

    Show marketing remark (1402 chars)

    COLONY HILLS! One of the nicest homes in the NICEST park! Enjoy all that Colony Hills offers: huge recreation hall, pool table, craft center, lending library, heated pool & spa, shuffleboard, tennis court, horseshoes and ALL THE FUN YOU CAN IMAGINE!This furnished two bedroom two bath home is READY for you to move in! The side-by-side carport allows lots of room for your two cars, and possible a guest or two! There is a glassed Florida room complete with all the furniture you need for "fresh air"entertaining! The living room is accessed through the Florida room, and is spacious and even has a built in cabinetry area. There are plant shelves also for showing off your collections. The dining room has a large table with 6 chairs, and a built in china cabinet. The kitchen has a "table for two" complete with comfy chairs. The appliances are all upgraded and in perfect condition. There are sufficient cabinets for storage, and a closet pantry. The master bedroom has a whole wall of closets, plus a large step in shower. The vanities in both bedrooms have been replaced with solid surface tops. The guest bedroom is nicely done and has access to the hall bath. The window treatments here are perfect! There is a screened porch on the back, and a shed with room for storage and the washer & dryer. This is a GREAT home at a GREAT price and in GREAT condition!

20. 2011-03-31
    listed $59,900 1402-char remark

    Show marketing remark (1402 chars)

    COLONY HILLS! One of the nicest homes in the NICEST park! Enjoy all that Colony Hills offers: huge recreation hall, pool table, craft center, lending library, heated pool & spa, shuffleboard, tennis court, horseshoes and ALL THE FUN YOU CAN IMAGINE!This furnished two bedroom two bath home is READY for you to move in! The side-by-side carport allows lots of room for your two cars, and possible a guest or two! There is a glassed Florida room complete with all the furniture you need for "fresh air"entertaining! The living room is accessed through the Florida room, and is spacious and even has a built in cabinetry area. There are plant shelves also for showing off your collections. The dining room has a large table with 6 chairs, and a built in china cabinet. The kitchen has a "table for two" complete with comfy chairs. The appliances are all upgraded and in perfect condition. There are sufficient cabinets for storage, and a closet pantry. The master bedroom has a whole wall of closets, plus a large step in shower. The vanities in both bedrooms have been replaced with solid surface tops. The guest bedroom is nicely done and has access to the hall bath. The window treatments here are perfect! There is a screened porch on the back, and a shed with room for storage and the washer & dryer. This is a GREAT home at a GREAT price and in GREAT condition!

21. 2009-01-07
    soldstatus $65,000 506-char remark

    Show marketing remark (506 chars)

    Colony Hills! No rear Neighbors! 2 bedroom, 2 bath home with 2 car carport. Florida room off the front and screened lanai off the rear. Built in hutch in the dining area, breakfast bar in kitchen, and easy access to the laundry room/shed (in rear) fromthe kitchen. The master bath features a stand alone shower. The guest bathroom has a tub/shower combination. Sold furnished. The washer and dryer convey but are not warranted. The rear of the home has no back yard neighbors and a plentiful orange tree!

22. 2009-01-06
    soldstatus $65,000
23. 2008-11-19
    listed $69,900 506-char remark

    Show marketing remark (506 chars)

    Colony Hills! No rear Neighbors! 2 bedroom, 2 bath home with 2 car carport. Florida room off the front and screened lanai off the rear. Built in hutch in the dining area, breakfast bar in kitchen, and easy access to the laundry room/shed (in rear) fromthe kitchen. The master bath features a stand alone shower. The guest bathroom has a tub/shower combination. Sold furnished. The washer and dryer convey but are not warranted. The rear of the home has no back yard neighbors and a plentiful orange tree!

24. 2003-04-02
    soldstatus $35,000
25. 1986-12-01
    soldstatus $12,000

ⓘ 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: $661 · $55/mo
• Projected year-2 tax: $930 · $77/mo
• Expected delta: +$268/yr (+$22/mo · 40.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,298
• − Mortgage interest: −$6,274
• − Property taxes: −$661
• − Insurance: −$560
• − Repairs & maintenance: −$1,784
• − Management: −$1,784
• − HOA: −$720
• − Depreciation: −$3,258
• Taxable income: $7,257
• Est. tax owed @ 24.0%: −$1,742
• After-tax cash flow: $6,884/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 — Zephyrhills

• Score: 72/100
• State rank: #330
• US rank: #5760

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Pasco County · 524,098 people
• City population: 48,266
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 24,654
• Household income: $56,579
• Rent vs Own: 14.0% rent · 86.0% own
• Severe rent burden: 393.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 8% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 9%
• Common ancestry: Lithuanian 4% Romanian 3% Serbian 3%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 9% Tagalog/Filipino 1% 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: ▼ -55.21%
• Current HPI: 308.0619
• Rent YoY: ▼ -2.51%
• 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

+833.3% since first listed

12 events — show timeline

• 2026-05-06 Price Changed $112,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $114,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-17 Price Changed $119,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-12 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2012-06-20 Sold (Public Records) $50,000 Public Records
• 2012-06-15 Sold (MLS) $50,000 Stellar MLS as Distributed by MLS Grid
• 2011-03-31 Listed $59,900 Stellar MLS as Distributed by MLS Grid
• 2009-01-07 Sold (MLS) $65,000 Stellar MLS as Distributed by MLS Grid
• 2009-01-06 Sold (Public Records) $65,000 Public Records
• 2008-11-19 Listed $69,900 Stellar MLS as Distributed by MLS Grid
• 2003-04-02 Sold (Public Records) $35,000 Public Records
• 1986-12-01 Sold (Public Records) $12,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $661 · +2.1% YoY. Source: county tax records.