35132 Zephyr Shores Dr · Zephyrhills West, FL 33541

$85,000

2 bd · 2.0 ba · 684 sqft · Manufactured public records · 204 Days on market

Built 1972 6,100 sqft lot Est $89k · at est. $50/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 +9.5/15.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the vibrant 55+ community of Zephyr Shores, this charming single-wide mobile home offers comfort, convenience, and an active lifestyle. The home sits on its own lot and welcomes you through a spacious 10’x 17’ Florida room, a bright and inviting addition that provides plenty of extra living space. From here, step into the open dining area, which also includes a cozy sitting nook perfect for relaxing or entertaining. The remodeled kitchen features an island, updated finishes, and comes fully equipped with all appliances. Down the hallway are the two bedrooms and a bathroom with a walk-in shower for easy access. Outside, you’ll find even more to enjoy: a large 11&

Key facts

• Remodeled kitchen
• Florida room
• Screened porch

Tags

• FLORIDA ROOM
• REMODELED KITCHEN
• SCREENED PORCH

Property features AI

Finance

• Other: Furnished (yes)
• Financial info: Lease restrictions apply
• HOA & community: Has HOA; buyer approval required; Monthly HOA $50 (annual $600); HOA amenities include clubhouse, pool, recreation facilities, shuffleboard court; Association fee covers pool, common area taxes, escrow reserves; Association management: part-time; Senior community; Deed restrictions and street lights; Pets not allowed

Exterior

• Parking: Driveway; Carport (1 space)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; BB/HS Internet available; Cable available; Underground utilities; Water connected
• Home design: Residential mobile home (single wide); Attached property; One level; North-facing
• Construction: Vinyl siding; Metal roof; Crawlspace foundation; Completed condition
• Exterior features: Screened side porch; Rain gutters; Shed(s) on property; Paved road access; In-county location

Interior

• Kitchen: Microwave; Range; Refrigerator; Eat-in kitchen layout
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room / dining room combo; Open floorplan; Window treatments; Family room
• Laundry & utility: Washer; Dryer; Laundry located outside / other

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $775 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.2% vs local median 7.8% in Zephyrhills West — 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 61/100 on livability (#772 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, 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.
• Market conditions: Rents soft (-2.5%/yr); 856 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• This rent runs 38% of the median local income ($57k/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 $588 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 204 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $85k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 204 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.11% ✓
• Cap rate: 17.24%
• Cash-on-cash: 39.09%
• DSCR: 2.74
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $88,920
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35204 Ada Ave	0.06mi	2/1.0	710 (+4%)	0mo	$80,000	$113	87
35246 Tiffani Lot 63 Ct	0.20mi	2/1.0	687 (+0%)	5mo	$118,000	$172	81
35142 Zephyr Shores Dr	0.02mi	2/2.0	720 (+5%)	12mo	$83,000	$115	80
35012 Dale Ave	0.13mi	2/2.0	732 (+7%)	4mo	$95,000	$130	79
35238 Dodie Dr #09	0.14mi	1/2.0 (-1)	726 (+6%)	2mo	$79,000	$109	76
35220 Condominium Blvd #25	0.14mi	2/1.0	621 (-9%)	3mo	$90,000	$145	72

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: 31.7%
• Equity multiple: 2.28×
• Total profit: $30,399
• Equity at exit: $12,674

10-year hold

• IRR: 37.1%
• Equity multiple: 3.94×
• Total profit: $69,953
• Equity at exit: $7,349

Cash invested: $23,800 (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: 856
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,797 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$113 /mo · $1,357/yr
• Insurance: −$35
• HOA: −$50
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $775

Break-even live

Break-even rent $816

Max offer price $85,000

Occupancy floor 52%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34002 Painthorse Way Wesley Chapel, FL	1.0–3.0	1.0–2.0	1022	$2,208	$2.16	3d	46	1.49mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 15 events

1. 2026-06-18
   days on market $85,000 Active 204 DOM
2. 2026-06-17
   days on market $85,000 Active 203 DOM
3. 2026-06-16
   days on market $85,000 Active 202 DOM
4. 2026-06-15
   days on market $85,000 Active 201 DOM
5. 2026-06-13
   days on market $85,000 Active 199 DOM
6. 2026-06-09
   days on market $85,000 Active 196 DOM
7. 2026-06-08
   days on market $85,000 Active 195 DOM
8. 2026-06-07
   days on market $85,000 Active 194 DOM
9. 2026-05-31
   days on market $85,000 Active 192 DOM
10. 2026-05-18
    price $85,000
11. 2025-11-20
    listed $89,900 Active
12. 1991-04-01
    soldstatus $28,500
13. 1990-10-01
    soldstatus $26,000
14. 1988-05-01
    soldstatus $29,000
15. 1986-06-01
    soldstatus $25,000

ⓘ 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: $1,357 · $113/mo
• Projected year-2 tax: $1,357 · $113/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 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 26 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: $21,562
• − Mortgage interest: −$4,761
• − Property taxes: −$1,357
• − Insurance: −$425
• − Repairs & maintenance: −$1,725
• − Management: −$1,725
• − HOA: −$600
• − Depreciation: −$2,473
• Taxable income: $8,496
• Est. tax owed @ 24.0%: −$2,039
• After-tax cash flow: $7,264/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 West

• Score: 61/100
• State rank: #772
• US rank: #17403

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Pasco County · 524,098 people
• City population: 100,771
• 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

+240.0% since first listed

6 events — show timeline

• 2026-05-18 Price Changed $85,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-20 Listed $89,900 Stellar MLS as Distributed by MLS Grid
• 1991-04-01 Sold (Public Records) $28,500 Public Records
• 1990-10-01 Sold (Public Records) $26,000 Public Records
• 1988-05-01 Sold (Public Records) $29,000 Public Records
• 1986-06-01 Sold (Public Records) $25,000 Public Records

Property tax history

+18.5%/yr

Latest (2025): $1,357 · +5.6% YoY. Source: county tax records.