4575 Whitton Way #1131 · New Port Richey, FL 34653

$130,000

2 bd · 2.0 ba · 1,004 sqft · Condo public records · 10 Days on market

Built 1991 $499/mo HOA · 30% 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 +10.1/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Enjoy peaceful pond views and low maintenance Florida living in this spacious 2-bedroom, 2-bathroom condo offering a functional open layout designed for comfortable everyday living. Situated on the third floor with convenient elevator access, the home features high ceilings and generously sized tiled living and dining areas that provide a versatile space for both relaxing and entertaining. The kitchen offers ample cabinet and counter space along with a cozy dining area, while the split-bedroom layout enhances privacy and functionality. The spacious primary suite includes dual closets and an en-suite bathroom. Step into the enclosed Florida room and ta

Key facts

• Gated community
• Split-bedroom layout
• Pond views

Tags

• POND VIEWS
• GATED COMMUNITY
• ENCLOSED FLORIDA ROOM
• SPLIT-BEDROOM LAYOUT
• HIGH CEILINGS

Property features AI

Finance

• Other: Partially furnished; Third-party listing; Unit located on the 3rd floor
• Financial info: Total annual association fees: $5,988; Lease restrictions apply
• HOA & community: Monthly condo/association fee of $499 (includes cable TV, pool, escrow reserves, insurance, internet, structure maintenance, pest control, recreational facilities, security, sewer and trash); Association approval required; Association name: North Hillsborough Properties; Community features: deed restrictions, pool, sidewalks; Pets allowed

Exterior

• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected; Water available
• Home design: Condominium; One story; Faces southwest; Residential property
• Construction: Block, concrete and stucco construction; Shingle roof; Block foundation; Built for one-level living
• Exterior features: Balcony; Sidewalks; Pond views

Interior

• Kitchen: Dishwasher; Freezer; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Cork; Linoleum; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Elevator in building; High ceilings; Living and dining room combo; Programmable thermostat
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $-76 ($-914/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (10.3% below list).
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $117k (10.3% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 1.9% in New Port Richey — 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 82/100 on livability (#67 in FL, #1,139 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, commute D, 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 soft (-2.9%/yr); 306 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 40% 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 $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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $130k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,551 (10.3% 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: 1.28% ✓
• Cap rate: 5.59%
• Cash-on-cash: -2.51%
• DSCR: 0.89
• GRM: 6.5

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: -25.7%
• Equity multiple: 0.16×
• Total profit: $-30,477
• Equity at exit: $19,383

10-year hold

• IRR: -51.3%
• Equity multiple: -0.38×
• Total profit: $-50,348
• 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 34653

• Home prices YoY: -18.4%
• Rents YoY: -2.9%
• Active inventory: 306
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,670 high
• Mortgage (P&I): −$682
• Tax from tax record: −$160 /mo · $1,922/yr
• Insurance: −$54
• HOA: −$499
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-76

Break-even live

Break-even rent $1,766

Max offer price $116,551

Occupancy floor 100%

Sensitivity live

Price	-10% $-3	-5% $-39	+0% $-76	+5% $-113	+10% $-150
Rent	-10% $-208	-5% $-142	+0% $-76	+5% $-10	+10% $56
Rate	-1.0pp $-11	-0.5pp $-43	base $-76	+0.5pp $-110	+1.0pp $-144

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: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7425 Trouble Creek Rd New Port Richey, FL	1.0–2.0	1.0–2.0	812	$1,604	$1.97	3d	15	0.26mi
4851 Mill Run Dr New Port Richey, FL	3.0	2.0	1456	$2,185	$1.50	16d	1	0.32mi
4331 Fiji Dr New Port Richey, FL	1.0–5.0	2.0–5.0	1343	$1,479	$1.10	4d	11	0.35mi
8107 Blue Finch Way New Port Richey, FL	3.0	2.0	1320	$1,975	$1.50	25d	1	0.51mi
7828 Hardwick Dr #927 New Port Richey, FL	2.0	2.0	1025	$1,650	$1.61	6d	1	0.57mi
8135 Brown Pelican Ave New Port Richey, FL	2.0	2.0	1089	$2,000	$1.84	6d	1	0.57mi
5101 Glenhurst Ln New Port Richey, FL	3.0	2.0	1419	$2,310	$1.63	6d	1	0.60mi
7910 Hardwick Dr #713 New Port Richey, FL	2.0	1.0	925	$1,595	$1.72	6d	1	0.61mi
7320 Broadmoor Dr New Port Richey, FL	1.0–2.0	1.0–2.0	765	$1,715	$2.24	0d	61	0.61mi
7704 Riverdale Dr New Port Richey, FL	3.0	2.0	1320	$1,811	$1.37	0d	1	0.64mi
4347 Otter Way New Port Richey, FL	3.0	2.0	1344	$1,740	$1.29	0d	1	0.71mi
7733 Atherton Ave New Port Richey, FL	2.0	2.0	1291	$1,775	$1.37	18d	1	0.73mi
4420 Sawgrass Blvd New Port Richey, FL	3.0	2.0	1400	$2,300	$1.64	25d	1	0.75mi
7441 Carmel Ave New Port Richey, FL	3.0	1.0	1238	$1,875	$1.51	4d	1	0.82mi
7911 Aden Loop New Port Richey, FL	3.0	2.0	1067	$1,785	$1.67	25d	1	0.83mi
3707 Mexicali St New Port Richey, FL	3.0	2.0	1185	$1,925	$1.62	6d	1	0.87mi
6807 Porter Rd New Port Richey, FL	2.0	1.0	840	$1,475	$1.76	4d	1	0.87mi
6807 Porter Rd Unit PBMP M-5836 New Port Richey, FL	2.0	1.0	840	$1,475	$1.76	25d	1	0.87mi
6807 Porter Rd Unit PGC C-5432-209 New Port Richey, FL	2.0	2.0	1100	$1,300	$1.18	19d	1	0.87mi
6807 Porter Rd Unit PGC C-5432-105 New Port Richey, FL	2.0	2.0	895	$1,360	$1.52	25d	1	0.87mi
6807 Porter Rd Unit PBMP M-5826 New Port Richey, FL	2.0	1.0	800	$1,380	$1.73	25d	1	0.87mi
6807 Porter Rd Unit PCG G-203 New Port Richey, FL	2.0	1.0	770	$1,275	$1.66	6d	1	0.87mi
6807 Porter Rd Unit PCG G-101 New Port Richey, FL	3.0	1.5	1080	$1,375	$1.27	6d	1	0.87mi
3602 Murrow St New Port Richey, FL	3.0	2.0	1283	$2,090	$1.63	6d	1	0.96mi
8403 Yearling Ln New Port Richey, FL	3.0	2.0	1277	$2,125	$1.66	12d	1	0.97mi
3544 Martell St New Port Richey, FL	2.0	1.0	775	$1,600	$2.06	25d	1	0.98mi
8559 Pilgrim Ct New Port Richey, FL	2.0	1.5	1236	$1,500	$1.21	21d	1	1.04mi
8563 Pilgrim Ct New Port Richey, FL	2.0	1.5	1236	$1,400	$1.13	6d	1	1.05mi
3455 Monte Rio St New Port Richey, FL	2.0	2.0	1291	$1,775	$1.37	19d	1	1.05mi
4233 Belle Isle Ct New Port Richey, FL	3.0	2.0	1275	$1,950	$1.53	25d	1	1.08mi
4233 Belle Isle Ct New Port Richey, FL	3.0	2.0	1275	$1,895	$1.49	20d	1	1.08mi
3406 Murrow St New Port Richey, FL	3.0	1.0	1262	$1,725	$1.37	0d	1	1.15mi
6424 Spring Flower Dr #25 New Port Richey, FL	2.0	1.5	915	$1,175	$1.28	19d	1	1.18mi
6424 Spring Flower Dr #25 New Port Richey, FL	2.0	1.5	835	$1,175	$1.41	25d	1	1.18mi
6413 Sutters Mill Rd New Port Richey, FL	3.0	2.0	1080	$1,575	$1.46	4d	1	1.22mi
4903 Myrtle Oak Dr #14 New Port Richey, FL	2.0	2.0	935	$1,250	$1.34	25d	1	1.22mi
7418 Jenner Ave New Port Richey, FL	2.0	1.0	1000	$1,495	$1.50	12d	1	1.24mi
3409 Vorden St New Port Richey, FL	2.0	1.0	1075	$1,600	$1.49	25d	1	1.24mi
6165 Chesham Dr #9 New Port Richey, FL	2.0	1.5	825	$1,350	$1.64	25d	1	1.45mi
6165 Chesham Dr #5 New Port Richey, FL	2.0	1.5	825	$1,500	$1.82	25d	1	1.45mi

HOA detail condo

• Monthly dues: $499 · $5,988/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-07
   statusdays on market $130,000 Pending 10 DOM
2. 2026-06-04
   days on market $130,000 Active 8 DOM
3. 2026-06-03
   days on market $130,000 Active 7 DOM
4. 2026-06-02
   days on market $130,000 Active 6 DOM
5. 2026-06-01
   days on market $130,000 Active 5 DOM
6. 2026-05-31
   days on market $130,000 Active 4 DOM
7. 2026-05-28
   listed $130,000 Active
8. 1996-11-27
   soldstatus $50,000

ⓘ 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: $1,922 · $160/mo
• Projected year-2 tax: $1,922 · $160/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,034
• − Mortgage interest: −$7,282
• − Property taxes: −$1,922
• − Insurance: −$650
• − Repairs & maintenance: −$1,603
• − Management: −$1,603
• − HOA: −$5,988
• − Depreciation: −$3,782
• Taxable loss: −$2,795
• Est. tax savings @ 24.0%: +$671
• After-tax cash flow: $-243/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

• Score: 82/100
• State rank: #67
• US rank: #1139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Pasco County · 524,098 people
• City population: 137,708
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 35,945
• Household income: $49,563
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1439.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -73.10%
• Current HPI: 324.6519
• Rent YoY: ▼ -2.92%
• 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

+160.0% since first listed

2 events — show timeline

• 2026-05-28 Listed $130,000 Stellar MLS as Distributed by MLS Grid
• 1996-11-27 Sold (Public Records) $50,000 Public Records

Property tax history

+11.6%/yr

Latest (2025): $1,922 · -26.6% YoY. Source: county tax records.