10029 Hamp Dr · Dade City, FL 33525

$172,000

2 bd · 2.0 ba · 1,231 sqft · Manufactured public records · 30 Days on market

Built 2023 4,500 sqft lot Est $182k · 6% under $250/mo HOA · 9% of rent ↓ 31% since listing

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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 +29.4/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +10.0/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity with income from day one. Tenant-occupied through May 2027 at $1,595/month - walk in collecting rent with zero downtime. This 2023 Palm Harbor Levy model is practically brand new and sits in Hampton Court, a gated 55+ community in Dade City where you own the land. No lot rent. That alone sets this home apart from nearly every 55+ community in Pasco County. 1,231 sq ft of heated living space with 2 bedrooms, 2 full baths, and a bonus den that works as an office, hobby room, or guest space. The open floor plan connects the kitchen, dining, and living areas with ceiling panels, crown molding, and an oversized walk-in shower in the primary bath. Kitchen comes equipped with dishwasher, disposal, microwave, range, and refrigerator. Attached storage and a spacious 2-space carport round out the exterior. Hampton Court is gated with a heated pool, clubhouse, and the kind of resort-style amenities that keep tenants renewing and owners happy. The community is well-maintained, quiet, and has the feel of a neighborhood people actually want to live in - not just pass through. HOA is $250/month and covers common area maintenance and access to all community amenities. Located in Dade City with easy access to US-98, shopping, medical facilities, and about 35 miles north of downtown Tampa. Also a fit for owner-occupants who want to close now, collect rent through May 2027, and move in when the lease expires. Turnkey either way!

Key facts

• Gated community
• Clubhouse
• No lot rent

Tags

• GATED COMMUNITY
• OWN THE LAND
• NO LOT RENT
• HEATED POOL
• CLUBHOUSE
• RESORT-STYLE AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $172k.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $172k).
• Recommended offer: $169k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 4.6% in Dade City — 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 73/100 on livability (#307 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D+, amenities 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 rising (+3.0%/yr); 667 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• At $2,642/mo this rent would consume 46% of the median local household income ($69k/yr) (locally 322% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 3.0% rent growth), your $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,420 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.54% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.21%
• DSCR: 1.68
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $182,188
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10047 Collingwood Ave	0.08mi	2/2.0	1,231 (0%)	2mo	$150,000	$122	95
10029 Wellington Ave	0.04mi	2/2.0	1,231 (0%)	8mo	$182,500	$148	91
10045 Hamp Dr	0.02mi	2/2.0	1,404 (+14%)	8mo	$170,000	$121	68
39720 Sunburst Dr	0.68mi	3/2.0 (+1)	1,404 (+14%)	5mo	$230,000	$164	36

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 · 3.02% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.23×
• Total profit: $11,267
• Equity at exit: $25,646

10-year hold

• IRR: 15.5%
• Equity multiple: 2.27×
• Total profit: $60,960
• Equity at exit: $14,871

Cash invested: $48,160 (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 33525

• Home prices YoY: -15.4%
• Rents YoY: 3.0%
• Active inventory: 667
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,642 medium
• Mortgage (P&I): −$902
• Tax from tax record: −$253 /mo · $3,035/yr
• Insurance: −$72
• HOA: −$250
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $610

Break-even live

Break-even rent $1,869

Max offer price $172,000

Occupancy floor 72%

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: $43,000
• Closing costs: $5,160
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10034 Hamp Dr Unit 1234478P Dade City, FL	3.0	1.0	968	$3,164	$3.27	1d	1	0.02mi
10043 Collingwood Ave Dade City, FL	2.0	2.0	1286	$3,000	$2.33	24d	1	0.08mi
10030 Sterling Ave Unit 1234467P Dade City, FL	2.0	2.0	1280	$2,744	$2.14	12d	1	0.09mi

HOA detail

• Monthly dues: $250 · $3,000/yr
• Likely covers: poolsecurity

Listing history 35 events

1. 2026-06-18
   days on market $172,000 Active 30 DOM
2. 2026-06-17
   days on market $172,000 Active 29 DOM
3. 2026-06-16
   days on market $172,000 Active 28 DOM
4. 2026-06-15
   days on market $172,000 Active 27 DOM
5. 2026-06-13
   days on market $172,000 Active 25 DOM
6. 2026-06-09
   days on market $172,000 Active 21 DOM
7. 2026-06-08
   days on market $172,000 Active 20 DOM
8. 2026-06-07
   days on market $172,000 Active 19 DOM
9. 2026-06-04
   days on market $172,000 Active 16 DOM
10. 2026-06-03
    days on market $172,000 Active 15 DOM
11. 2026-06-02
    days on market $172,000 Active 14 DOM
12. 2026-06-01
    days on market $172,000 Active 13 DOM
13. 2026-05-31
    days on market $172,000 Active 12 DOM
14. 2026-05-20
    listed $172,000 Active 1456-char remark

    Show marketing remark (1456 chars)

    Investment opportunity with income from day one. Tenant-occupied through May 2027 at $1,595/month - walk in collecting rent with zero downtime. This 2023 Palm Harbor Levy model is practically brand new and sits in Hampton Court, a gated 55+ community in Dade City where you own the land. No lot rent. That alone sets this home apart from nearly every 55+ community in Pasco County. 1,231 sq ft of heated living space with 2 bedrooms, 2 full baths, and a bonus den that works as an office, hobby room, or guest space. The open floor plan connects the kitchen, dining, and living areas with ceiling panels, crown molding, and an oversized walk-in shower in the primary bath. Kitchen comes equipped with dishwasher, disposal, microwave, range, and refrigerator. Attached storage and a spacious 2-space carport round out the exterior. Hampton Court is gated with a heated pool, clubhouse, and the kind of resort-style amenities that keep tenants renewing and owners happy. The community is well-maintained, quiet, and has the feel of a neighborhood people actually want to live in - not just pass through. HOA is $250/month and covers common area maintenance and access to all community amenities. Located in Dade City with easy access to US-98, shopping, medical facilities, and about 35 miles north of downtown Tampa. Also a fit for owner-occupants who want to close now, collect rent through May 2027, and move in when the lease expires. Turnkey either way!

15. 2024-05-22
    historical $1,595
16. 2024-05-03
    price $1,595
17. 2024-04-25
    listed $1,695
18. 2023-12-31
    historical
19. 2023-10-31
    status Active
20. 2023-10-04
    status Pending
21. 2023-08-24
    status Active
22. 2023-08-24
    historical
23. 2023-08-18
    listed $239,000 Active
24. 2023-07-31
    historical
25. 2023-05-02
    price $239,900
26. 2023-02-14
    price $244,000
27. 2023-02-09
    price $238,000
28. 2023-02-08
    price $244,000
29. 2023-01-02
    status Active
30. 2022-12-31
    historical
31. 2022-10-27
    price $249,000
32. 2022-05-27
    listed $269,900 Active
33. 2022-05-12
    historical
34. 2022-02-14
    price $257,900
35. 2021-11-20
    listed $249,900 Active

ⓘ 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: $3,035 · $253/mo
• Projected year-2 tax: $3,035 · $253/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 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $31,699
• − Mortgage interest: −$9,635
• − Property taxes: −$3,035
• − Insurance: −$860
• − Repairs & maintenance: −$2,536
• − Management: −$2,536
• − HOA: −$3,000
• − Depreciation: −$5,004
• Taxable income: $5,094
• Est. tax owed @ 24.0%: −$1,222
• After-tax cash flow: $6,101/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 — Dade City

• Score: 73/100
• State rank: #307
• US rank: #5215

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment C- 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
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 21,077
• Household income: $69,068
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 322.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 7% Black 3%
• Hispanic origin (detail): Mexican 9% Puerto Rican 3%
• Common ancestry: Lithuanian 2% Romanian 2% Serbian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 87% English-only · Spanish 11% Other Asian/Pacific 1% Other Indo-European 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: ▼ -65.48%
• Current HPI: 358.2149
• Rent YoY: ▲ 3.02%
• 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

-31.2% since first listed

22 events — show timeline

• 2026-05-20 Listed $172,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-22 Rental Removed $1,595 STELLARMLS
• 2024-05-03 Price Changed $1,595 STELLARMLS
• 2024-04-25 Listed for Rent $1,695 STELLARMLS
• 2023-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-10-31 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-10-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-08-24 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-08-24 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-08-18 Listed $239,000 Stellar MLS as Distributed by MLS Grid
• 2023-07-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-05-02 Price Changed $239,900 Stellar MLS as Distributed by MLS Grid
• 2023-02-14 Price Changed $244,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-09 Price Changed $238,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-08 Price Changed $244,000 Stellar MLS as Distributed by MLS Grid
• 2023-01-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-10-27 Price Changed $249,000 Stellar MLS as Distributed by MLS Grid
• 2022-05-27 Listed $269,900 Stellar MLS as Distributed by MLS Grid
• 2022-05-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-02-14 Price Changed $257,900 Stellar MLS as Distributed by MLS Grid
• 2021-11-20 Listed $249,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+26.6%/yr

Latest (2025): $3,035 · -2.2% YoY. Source: county tax records.