36428 Malibu Way · Zephyrhills West, FL 33541

$149,900

2 bd · 2.0 ba · 840 sqft · Manufactured public records · 8 Days on market

Built 1987 4,770 sqft lot Est $139k · 8% over $66/mo HOA · 4% of rent

---

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 +22.0/30.0
• DSCR +7.0/10.0
• 1% rule +6.0/10.0
• Schools +4.3/10.0
• ARV discount +3.8/15.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Whether you're a seasonal resident or year round, this 2/2 Double will give you comfortable living. The home has basic furniture & move in ready.

Key facts

• Corian countertops
• Florida room
• Mature landscaping

Tags

• PET FRIENDLY COMMUNITY
• MATURE LANDSCAPING
• LUXURY VINYL PLANK FLOORING
• CORIAN COUNTERTOPS
• OPEN CONCEPT FLOOR PLAN
• FLORIDA ROOM

Property features AI

Finance

• Other: Property type: Residential — Manufactured Home; Property subtype: Double Wide; Zoning: RMH
• Financial info: Lease restrictions apply
• HOA & community: Homeowners association (Ann Parks) — approval required; HOA dues $800 annually (about $66.67/month); Association amenities: clubhouse, pool, recreation facilities, shuffleboard court, spa/hot tub; Community features: deed restrictions, association-owned recreation, street lights, golf carts allowed; Senior community; Pets allowed (max ~20 lbs)

Exterior

• Parking: Covered parking; Driveway; 1-car carport
• Utilities: Public water; Public sewer; Electricity connected; Broadband/High-speed internet available; Cable available; Water connected; Sewer connected
• Home design: Manufactured double-wide home; Single-story; Faces north
• Construction: Metal siding; Membrane roof; Crawlspace foundation; Built area approximately 1,008–1,380 sq ft (sources vary)
• Exterior features: Patio; Sidewalk; Sliding doors; Outdoor storage; Mature landscaping; Level lot; Asphalt/paved road (public maintained)

Interior

• Kitchen: Dishwasher; Range (cooktop/oven); Range hood; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Open floor plan; Living room/dining room combo; Window treatments; Florida room
• Laundry & utility: Washer and dryer included; Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).

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; 10 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).
• This rent runs 35% 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 $1k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 21y 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 $54k; list at $150k implies a 178% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,900

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: 1.10% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.82%
• DSCR: 1.30
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $138,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36905 Kay Ave	0.51mi	2/2.0	864 (+3%)	4mo	$148,500	$172	68
36413 Teakwood Ave	0.43mi	2/1.0	812 (-3%)	4mo	$159,000	$196	67
5619 Dakota St	0.17mi	2/2.0	960 (+14%)	3mo	$175,000	$182	66
5722 Pawnne St	0.56mi	2/2.0	869 (+4%)	4mo	$48,500	$56	65
5341 Powhattan St	0.20mi	2/2.0	960 (+14%)	3mo	$170,000	$177	64
37111 Sandra Ave	0.75mi	2/2.0	868 (+3%)	8mo	$33,000	$38	53
36839 Kimela Ave	0.48mi	2/2.0	960 (+14%)	6mo	$177,500	$185	49
37024 8th Ave	0.66mi	2/2.0	960 (+14%)	2mo	$45,000	$47	44
36941 Grace Ave	0.55mi	2/1.0	948 (+13%)	8mo	$156,000	$165	42
37100 8th Ave	0.72mi	2/2.0	960 (+14%)	1mo	$138,000	$144	42
37042 Lois Ave	0.73mi	2/2.0	748 (-11%)	8mo	$95,000	$127	41
37031 Karen Ave	0.71mi	2/1.5	720 (-14%)	1mo	$92,000	$128	40

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: -9.3%
• Equity multiple: 0.67×
• Total profit: $-13,888
• Equity at exit: $22,351

10-year hold

• IRR: -4.6%
• Equity multiple: 0.74×
• Total profit: $-11,012
• Equity at exit: $12,961

Cash invested: $41,972 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,645 high
• Mortgage (P&I): −$786
• Tax from tax record: −$147 /mo · $1,762/yr
• Insurance: −$62
• HOA: −$66
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $238

Break-even live

Break-even rent $1,343

Max offer price $149,900

Occupancy floor 81%

Sensitivity live

Price	-10% $323	-5% $281	+0% $238	+5% $196	+10% $154
Rent	-10% $108	-5% $173	+0% $238	+5% $303	+10% $368
Rate	-1.0pp $314	-0.5pp $277	base $238	+0.5pp $200	+1.0pp $160

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36801 Camelia Ct Zephyrhills, FL	2.0	2.0	864	$1,350	$1.56	24d	1	0.35mi
5914 Willow Ridge Dr #101 Zephyrhills, FL	2.0	2.0	987	$1,500	$1.52	24d	1	0.41mi
36321 Stonewood Ln #103 Zephyrhills, FL	2.0	2.0	987	$1,525	$1.55	24d	1	0.42mi
36009 Deer Creek Dr #104 Zephyrhills, FL	2.0	2.0	1029	$1,450	$1.41	24d	1	0.59mi
36015 Deer Creek Dr #202 Zephyrhills, FL	2.0	2.0	1062	$1,450	$1.37	24d	1	0.61mi
35940 Inspiration Dr Zephyrhills, FL	1.0–3.0	1.0–2.0	1034	$1,694	$1.64	2d	21	0.62mi
5168 Crooked Ln Zephyrhills, FL	2.0	1.0	600	$1,645	$2.74	22d	1	0.64mi
5521 Barbara St Zephyrhills, FL	2.0	2.0	1056	$1,800	$1.70	24d	1	0.86mi
6302 Abbott Station Dr Zephyrhills, FL	3.0	1.0–2.5	855	$1,732	$2.02	2d	142	1.15mi
37812 15th Ave Zephyrhills, FL	2.0	2.0	1000	$1,850	$1.85	24d	1	1.41mi

HOA detail

• Monthly dues: $66 · $792/yr

Listing history 6 events

1. 2026-06-18
   days on market $149,900 Active 8 DOM
2. 2026-06-17
   days on market $149,900 Active 7 DOM
3. 2026-06-16
   days on market $149,900 Active 6 DOM
4. 2026-06-15
   days on market $149,900 Active 5 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $149,900 Active 3 DOM

ⓘ 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: $1,762 · $147/mo
• Projected year-2 tax: $1,762 · $147/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 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: $19,743
• − Mortgage interest: −$8,397
• − Property taxes: −$1,762
• − Insurance: −$750
• − Repairs & maintenance: −$1,579
• − Management: −$1,579
• − HOA: −$792
• − Depreciation: −$4,361
• Taxable income: $524
• Est. tax owed @ 24.0%: −$126
• After-tax cash flow: $2,735/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

+1149.2% since first listed

9 events — show timeline

• 2026-06-10 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2020-04-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2020-03-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2020-02-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-02-13 Listed $92,500 Stellar MLS as Distributed by MLS Grid
• 2005-11-09 Sold (MLS) $53,992 Stellar MLS as Distributed by MLS Grid
• 2005-11-07 Sold (Public Records) $53,992 Public Records
• 2005-11-07 Listed $55,500 Stellar MLS as Distributed by MLS Grid
• 1987-02-01 Sold (Public Records) $12,000 Public Records

Property tax history

+13.0%/yr

Latest (2025): $1,762 · +9.0% YoY. Source: county tax records.