35109 Garber Ln Lot 176 · Zephyrhills West, FL 33541

$108,900

2 bd · 1.0 ba · 748 sqft · Manufactured · 176 Days on market

Built 1991 2,878 sqft lot Est $85k · 29% over $130/mo HOA · 7% of rent ↓ 8% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This beautifully maintained park model has 2 bedrooms, 1 bath, and an office. The large living room is brightly lit with plenty of space for relaxing and entertaining. The dining room is spacious and bumps up against the modernized kitchen. Plenty of built-in storage here! The bathroom has a full-sized tub/shower and a single vanity. The master bedroom is large with built-in closet. The second bedroom is almost as large as the master bedroom. Everything you need for resort-like living. American Condominium Park is a 55+ gated community with heated pool, clubhouse, exercise room, sauna, hot tub, tennis/pickleball courts, horse shoe pits, shuffleboard, and many more amenities. A friendly act

Key facts

• Modernized kitchen
• Clubhouse
• Full hookups

Tags

• MODERNIZED KITCHEN
• BUILT-IN STORAGE
• FULL HOOKUPS
• PLUMBED FOR A WASHER
• HEATED POOL
• CLUBHOUSE

Property features AI

Finance

• Other: Association name listed; Community features include golf carts allowed and sidewalks; Buyer approval required for association
• Financial info: Total annual fees $1,560; Furnished: Partially; Lease restrictions apply
• HOA & community: Has HOA (monthly fee $130); Association approval required; Association amenities: clubhouse, fitness center, pool, spa/hot tub, tennis courts, pickleball courts, shuffleboard, park, recreation facilities, private road, trash service, gated community, vehicle restrictions, laundry; Senior community; Pets allowed (cats and dogs; size/number limits; max pet weight 20 lbs)

Exterior

• Parking: Carport (1 space); Off-street parking; Guest parking; Golf cart parking
• Security: Gated community; Key card entry
• Utilities: Public water; Public sewer; Electricity connected; Fiber optics available; Cable available; Phone available; Broadband/high-speed internet available; Underground utilities; Water connected; Sewer connected
• Home design: Manufactured single-wide home; One level; South-facing
• Construction: Vinyl siding; Roof over; Crawlspace foundation; Estimated living area 748 sq ft
• Exterior features: Rain gutters; Storage shed(s); Pond access (retention ponds nearby); Private, paved, level lot in county; Asphalt road; Private maintained road

Interior

• Kitchen: Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Built-in features; Ceiling fans; Thermostat; Vaulted ceilings; Window treatments; Aluminum frame windows; Blinds
• Laundry & utility: Washer hookup; Dryer hookup (electric); Laundry in garage

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $109k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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 $753 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 $30k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $95,832 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 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. 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?
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 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: 12.32%
• Cash-on-cash: 21.52%
• DSCR: 1.96
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $84,524
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35204 Ada Ave	0.26mi	2/1.0	710 (-5%)	0mo	$80,000	$113	79
35012 Dale Ave	0.24mi	2/2.0	732 (-2%)	4mo	$95,000	$130	78
35238 Dodie Dr #09	0.21mi	1/2.0 (-1)	726 (-3%)	2mo	$79,000	$109	74
35246 Tiffani Lot 63 Ct	0.18mi	2/1.0	687 (-8%)	5mo	$118,000	$172	73
35142 Zephyr Shores Dr	0.23mi	2/2.0	720 (-4%)	12mo	$83,000	$115	69
35128 Dale Ave	0.21mi	2/2.0	852 (+14%)	8mo	$84,900	$100	56
34840 Carl Ave	0.43mi	2/2.0	840 (+12%)	20mo	$95,000	$113	39

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: 10.4%
• Equity multiple: 1.39×
• Total profit: $11,984
• Equity at exit: $16,237

10-year hold

• IRR: 16.6%
• Equity multiple: 2.16×
• Total profit: $35,223
• Equity at exit: $9,416

Cash invested: $30,492 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,809 medium
• Mortgage (P&I): −$571
• Tax est. 1.5%: −$136 /mo · $1,634/yr
• Insurance: −$45
• HOA: −$130
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $547

Break-even live

Break-even rent $1,117

Max offer price $108,900

Occupancy floor 65%

Sensitivity live

Price	-10% $622	-5% $584	+0% $547	+5% $509	+10% $472
Rent	-10% $404	-5% $475	+0% $547	+5% $618	+10% $690
Rate	-1.0pp $602	-0.5pp $574	base $547	+0.5pp $519	+1.0pp $490

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: $27,225
• Closing costs: $3,267
• 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	4d	46	1.46mi

HOA detail

• Monthly dues: $130 · $1,560/yr
• Likely covers: poolsecurity

Listing history 2 events

1. 2026-03-27
   price $108,900
2. 2025-11-29
   listed $118,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $21,712
• − Mortgage interest: −$6,100
• − Property taxes: −$1,634
• − Insurance: −$544
• − Repairs & maintenance: −$1,737
• − Management: −$1,737
• − HOA: −$1,560
• − Depreciation: −$3,168
• Taxable income: $5,232
• Est. tax owed @ 24.0%: −$1,256
• After-tax cash flow: $5,306/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
• 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

-8.4% since first listed

2 events — show timeline

• 2026-03-27 Price Changed $108,900 Stellar MLS as Distributed by MLS Grid
• 2025-11-29 Listed $118,900 Stellar MLS as Distributed by MLS Grid