9026 Bourbon St · Bayonet Point, FL 34654

$169,000

3 bd · 2.0 ba · 864 sqft · Manufactured public records · 28 Days on market

Built 1977 6,000 sqft lot Est $157k · 7% over

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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 +23.7/30.0
• DSCR +7.6/10.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• ARV discount +4.1/15.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fixer upper

Key facts

• Remodeled interior
• Modern flooring
• Renovated home

Tags

• RENOVATED HOME
• NEW ROOF
• NEW APPLIANCES
• REMODELED INTERIOR
• MODERN FLOORING
• STYLISH BATHROOMS

Property features AI

Finance

• Other: Unfurnished; Living area reported as 864 square feet
• Financial info: No lease restrictions
• HOA & community: No association indicated

Exterior

• Parking: Carport (1 space)
• Security: Third-party listing
• Utilities: Public water connected; Septic tank sewer; Electricity connected; Cable available
• Home design: Manufactured home (double wide); Residential property; One story; Faces north
• Construction: Metal siding; Shingle roof; Built as a double wide manufactured home
• Exterior features: Asphalt road access; Lot approximately 0.14 acres (0 to less than 1/4 acre)

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Crawlspace foundation
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Kitchen/family room combo; Thermostat
• Laundry & utility: Washer hookup; Electric dryer hookup; Other laundry features

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $169k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $166k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 5.3% in Bayonet Point — 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 69/100 on livability (#485 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities D+, schools 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 (-1.9%/yr); 353 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 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 $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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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.
• Current owner paid $50k; list at $169k implies a 238% 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; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,465 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.03% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.14%
• DSCR: 1.36
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $157,248
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9026 Bourbon St	0.00mi	2/2.0 (-1)	864 (0%)	0mo	$160,000	$185	95
11304 Altoona Ave	0.22mi	2/2.0 (-1)	840 (-3%)	9mo	$175,000	$208	72
9211 Teak St	0.36mi	3/2.0	896 (+4%)	7mo	$74,000	$83	71
9115 Bourbon St	0.08mi	2/1.0 (-1)	770 (-11%)	5mo	$95,000	$123	64
9430 Peony St	0.47mi	3/2.0	938 (+9%)	0mo	$60,000	$64	64
9202 Teak St	0.33mi	2/2.0 (-1)	784 (-9%)	9mo	$91,000	$116	57
9430 Mango St	0.53mi	2/2.0 (-1)	784 (-9%)	2mo	$170,000	$217	54
9132 Mango St	0.36mi	4/3.0 (+1)	924 (+7%)	12mo	$115,000	$124	53
9324 Peony St	0.37mi	2/2.0 (-1)	742 (-14%)	3mo	$165,000	$222	52
9420 Kiowa Dr	0.40mi	2/2.0 (-1)	764 (-12%)	11mo	$179,500	$235	48
9232 Teak St	0.35mi	2/1.0 (-1)	768 (-11%)	17mo	$140,000	$182	42

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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-12,076
• Equity at exit: $25,198

10-year hold

• IRR: -1.4%
• Equity multiple: 0.91×
• Total profit: $-4,065
• Equity at exit: $14,612

Cash invested: $47,320 (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 34654

• Home prices YoY: -12.7%
• Rents YoY: -1.9%
• Active inventory: 353
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,740 high
• Mortgage (P&I): −$886
• Tax from tax record: −$97 /mo · $1,161/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $321

Break-even live

Break-even rent $1,333

Max offer price $169,000

Occupancy floor 77%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9440 Bourbon St Unit 9 New Port Richey, FL	2.0	1.0	700	$1,275	$1.82	24d	1	0.41mi
11635 Salmon Dr Port Richey, FL	2.0	1.5	816	$1,500	$1.84	24d	1	0.55mi
12221 Holbrook Dr Bayonet Point, FL	1.0–2.0	1.0–2.0	761	$1,685	$2.21	2d	59	0.74mi
8161 Braddock Cir #1 Port Richey, FL	2.0	2.0	1000	$1,595	$1.59	18d	1	0.91mi
12200 Hudson Ridge Dr Port Richey, FL	2.0–3.0	2.0	1107	$1,704	$1.54	3d	10	1.02mi
11138 Yellowwood Ln Unit NA Port Richey, FL	3.0	1.0	1000	$1,800	$1.80	24d	1	1.14mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	24d	1	1.17mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	11d	1	1.17mi
8304 Mill Creek Ln Hudson, FL	2.0	2.0	1000	$1,650	$1.65	24d	1	1.24mi
7804 Topay Ln Port Richey, FL	3.0	2.0	1125	$1,811	$1.61	5d	1	1.27mi
7715 Sue Ellen Dr Port Richey, FL	2.0	2.0	1080	$1,495	$1.38	4d	1	1.34mi
10802 Laburnum Dr Port Richey, FL	2.0	2.0	1002	$1,545	$1.54	24d	1	1.36mi
10502 Laburnum Dr Port Richey, FL	2.0	2.0	1002	$1,545	$1.54	24d	1	1.47mi
12027 Hoosier Ct #203 Hudson, FL	2.0	2.0	1103	$1,550	$1.41	24d	1	1.48mi
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	18d	1	1.48mi
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	24d	1	1.48mi
7539 Gulf Highlands Dr Port Richey, FL	2.0	1.5	936	$1,550	$1.66	5d	1	1.49mi

Listing history 9 events

1. 2026-05-02
   status Pending
2. 2026-04-04
   listed $169,000 Active
3. 2025-12-02
   soldstatus $50,000 Closed 11-char remark

   Show marketing remark (11 chars)

   Fixer upper

4. 2025-11-17
   status Pending 11-char remark

   Show marketing remark (11 chars)

   Fixer upper

5. 2025-10-07
   listed $90,000 Active 11-char remark

   Show marketing remark (11 chars)

   Fixer upper

6. 2010-03-30
   soldstatus $36,000 262-char remark

   Show marketing remark (262 chars)

   Move in ready, fully furnished. Well maintained home on beautiful landscaped lot w/ fruit trees. Detached 12 x 12 workshop. Fully fenced yard with gate. Newer A/C, well pump, 200 amp service. Used for winter home. Well cared for, don't let this one pass you Buy!

7. 2009-12-30
   listed $39,000 262-char remark

   Show marketing remark (262 chars)

   Move in ready, fully furnished. Well maintained home on beautiful landscaped lot w/ fruit trees. Detached 12 x 12 workshop. Fully fenced yard with gate. Newer A/C, well pump, 200 amp service. Used for winter home. Well cared for, don't let this one pass you Buy!

8. 2007-02-13
   listed $57,900
9. 1987-04-01
   soldstatus $26,000

ⓘ 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: $1,161 · $97/mo
• Projected year-2 tax: $1,403 · $117/mo
• Expected delta: +$242/yr (+$20/mo · 20.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 25 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,879
• − Mortgage interest: −$9,467
• − Property taxes: −$1,161
• − Insurance: −$845
• − Repairs & maintenance: −$1,670
• − Management: −$1,670
• − Depreciation: −$4,916
• Taxable income: $1,149
• Est. tax owed @ 24.0%: −$276
• After-tax cash flow: $3,578/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 — Bayonet Point

• Score: 69/100
• State rank: #485
• US rank: #8934

Category grades

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

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): 24,355
• Household income: $73,947
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 179.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 7% Black 3% Asian 2%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 2% 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: ▼ -42.63%
• Current HPI: 294.4358
• Rent YoY: ▼ -1.85%
• 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

+550.0% since first listed

9 events — show timeline

• 2026-05-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-04 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-02 Sold (MLS) $50,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-10-07 Listed $90,000 Stellar MLS as Distributed by MLS Grid
• 2010-03-30 Sold (MLS) $36,000 Stellar MLS as Distributed by MLS Grid
• 2009-12-30 Listed $39,000 Stellar MLS as Distributed by MLS Grid
• 2007-02-13 Listed $57,900 Stellar MLS as Distributed by MLS Grid
• 1987-04-01 Sold (Public Records) $26,000 Public Records

Property tax history

+17.4%/yr

Latest (2025): $1,161 · +389.6% YoY. Source: county tax records.