36946 Grace Ave · Zephyrhills West, FL 33542

$135,000

3 bd · 2.0 ba · 882 sqft · Manufactured public records · 83 Days on market

Built 1972 5,600 sqft lot Est $135k · at est. $37/mo HOA · 2% of rent

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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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. MOTIVATED SELLER! PRICE REDUCED! This spacious 2-bedroom, 1.5-bath single-wide home with push-outs, locatedd in BEtmar Acres, a 55+ community, offers a comfortable layout with room to spread out. The kitchen features wood cabinets, stainless steel appliances, and a cozy eat-in area. The dining room and family room are open and roomy, making it easy to host gatherings or relax with friends and family. A separate living room with large windows fills the space with natural light. Two bedrooms plus a bonus room provide plenty of space for visitors, a home office, or hobbies. The main bathroom offers generous counter space, ample closet storage, and

Key facts

• Covered front porch
• Utility room
• Florida room

Tags

• STAINLESS STEEL APPLIANCES
• COVERED FRONT PORCH
• FLORIDA ROOM
• UTILITY ROOM
• ADDITIONAL SHED
• 27 HOLE GOLF COURSE

Property features AI

Finance

• Other: Total acreage: less than 1/4 acre (approx. 0.13 acres, 56 x 100 lot); Building area and living area are estimated
• Financial info: Furnished; Lease restrictions apply
• HOA & community: Has HOA (monthly $37.33 / annual $448); Association requires approval; Association amenities: clubhouse, pool, spa/hot tub, tennis courts, pickleball courts, shuffleboard, golf, dog park, golf carts allowed, street lights, maintenance, security; Buyer approval required; deed restrictions; association recreation owned; senior community

Exterior

• Parking: Carport with 2 spaces
• Security: Community security included in association amenities
• Utilities: Public water; Septic tank sewer; Electricity connected; Cable connected; Broadband/high-speed internet available
• Home design: Residential mobile home (single wide); One story; Facing north
• Construction: Vinyl siding exterior; Membrane roof; Crawlspace foundation; Completed condition
• Exterior features: Covered front porch; Exterior lighting; Rain gutters; Level, paved lot; Asphalt/paved road access; Public maintained road

Interior

• Kitchen: Dishwasher; Microwave; Range; Range hood; Refrigerator; Gas water heater
• Bedrooms: 2 bedrooms
• Flooring: Vinyl; Vinyl siding (interior wall material noted in construction)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room/dining room combo
• Laundry & utility: Laundry: Other

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.

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 falling (-3.6%/yr); 294 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 40% of the median local income ($49k/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 $933 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

• It's been on market 83 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $58k; list at $135k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); 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 $126,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.23% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.47%
• DSCR: 1.42
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $134,946
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37240 Beverly Ave	0.32mi	2/2.0 (-1)	898 (+2%)	2mo	$130,500	$145	76
37024 8th Ave	0.11mi	2/2.0 (-1)	960 (+9%)	2mo	$45,000	$47	74
37100 8th Ave	0.16mi	2/2.0 (-1)	960 (+9%)	1mo	$138,000	$144	72
37229 Sandra Ave	0.31mi	2/2.0 (-1)	931 (+6%)	1mo	$106,900	$115	71
5250 Betmar Dr	0.39mi	3/1.5	936 (+6%)	3mo	$143,000	$153	67
5015 Shirley Cir	0.27mi	2/2.0 (-1)	976 (+11%)	3mo	$95,000	$97	62
5307 Flint St	0.25mi	2/2.0 (-1)	774 (-12%)	3mo	$134,000	$173	60
5341 Powhattan St	0.40mi	2/2.0 (-1)	960 (+9%)	3mo	$170,000	$177	60
36708 Niles Dr	0.28mi	2/2.0 (-1)	1,008 (+14%)	2mo	$155,000	$154	56
36620 Kay Ave	0.35mi	2/2.0 (-1)	1,008 (+14%)	1mo	$220,000	$218	54
5619 Dakota St	0.51mi	2/2.0 (-1)	960 (+9%)	3mo	$175,000	$182	54
37350 Tropical Dr	0.58mi	3/1.5	964 (+9%)	3mo	$54,000	$56	53

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: -11.8%
• Equity multiple: 0.59×
• Total profit: $-15,558
• Equity at exit: $20,129

10-year hold

• IRR: -8.9%
• Equity multiple: 0.54×
• Total profit: $-17,527
• Equity at exit: $11,672

Cash invested: $37,800 (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 33542

• Home prices YoY: -20.6%
• Rents YoY: -3.6%
• Active inventory: 294
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,660 high
• Mortgage (P&I): −$708
• Tax from tax record: −$211 /mo · $2,538/yr
• Insurance: −$56
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$37
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $173

Break-even live

Break-even rent $1,440

Max offer price $135,000

Occupancy floor 85%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5168 Crooked Ln Zephyrhills, FL	2.0	1.0	600	$1,645	$2.74	21d	1	0.17mi
36801 Camelia Ct Zephyrhills, FL	2.0	2.0	864	$1,350	$1.56	24d	1	0.31mi
5521 Barbara St Zephyrhills, FL	2.0	2.0	1056	$1,800	$1.70	24d	1	0.37mi
36321 Stonewood Ln #103 Zephyrhills, FL	2.0	2.0	987	$1,525	$1.55	24d	1	0.91mi
5914 Willow Ridge Dr #101 Zephyrhills, FL	2.0	2.0	987	$1,500	$1.52	24d	1	0.92mi
37902 7th Ave Zephyrhills, FL	3.0	1.0	900	$1,775	$1.97	24d	1	0.93mi
37812 15th Ave Zephyrhills, FL	2.0	2.0	1000	$1,850	$1.85	24d	1	0.95mi
5237 1st St Zephyrhills, FL	3.0	1.0	964	$1,700	$1.76	24d	1	1.02mi
6302 Abbott Station Dr Zephyrhills, FL	3.0	1.0–2.5	855	$1,999	$2.34	1d	142	1.02mi
4833 Royal Palm Dr Zephyrhills, FL	2.0	1.0	672	$1,090	$1.62	24d	1	1.07mi
35940 Inspiration Dr Zephyrhills, FL	1.0–3.0	1.0–2.0	1034	$1,988	$1.92	2d	21	1.08mi
4639 Coral St Zephyrhills, FL	2.0	2.0	1056	$1,250	$1.18	24d	1	1.13mi
37819 Alissa Dr Zephyrhills, FL	2.0	2.0	864	$1,450	$1.68	17d	1	1.16mi
36009 Deer Creek Dr #104 Zephyrhills, FL	2.0	2.0	1029	$1,450	$1.41	24d	1	1.16mi
36015 Deer Creek Dr #202 Zephyrhills, FL	2.0	2.0	1062	$1,450	$1.37	24d	1	1.17mi
5441 6th St Zephyrhills, FL	2.0	1.0	1014	$1,650	$1.63	24d	1	1.23mi
37925 Date Palm Dr Zephyrhills, FL	3.0	1.5	720	$1,300	$1.81	24d	1	1.24mi
37732 Cecil Ln Zephyrhills, FL	3.0	1.0	1040	$1,800	$1.73	24d	1	1.24mi
4940 4th St Zephyrhills, FL	2.0	2.0	900	$1,350	$1.50	24d	1	1.39mi
5022 5th St Zephyrhills, FL	2.0	1.5	974	$1,595	$1.64	24d	1	1.41mi

HOA detail

• Monthly dues: $37 · $444/yr

Listing history 7 events

1. 2026-05-02
   status Pending
2. 2026-04-21
   price $135,000
3. 2026-03-19
   price $160,000
4. 2026-02-08
   listed $165,000 Active
5. 2013-04-02
   soldstatus $58,000
6. 2002-12-16
   soldstatus $48,500
7. 1998-11-03
   soldstatus $41,500

ⓘ 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: $2,538 · $211/mo
• Projected year-2 tax: $2,538 · $211/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 A · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 25 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: $19,915
• − Mortgage interest: −$7,562
• − Property taxes: −$2,538
• − Insurance: −$2,178
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − HOA: −$444
• − Depreciation: −$3,927
• Taxable income: $80
• Est. tax owed @ 24.0%: −$19
• After-tax cash flow: $2,059/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

• Census place: Zephyrhills West, FL
• County: Pasco County · 524,098 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 23,612
• Household income: $49,316
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 831.0

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 17% Two or more races 8% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 12% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -81.25%
• Current HPI: 313.3993
• Rent YoY: ▼ -3.56%
• 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

+225.3% since first listed

7 events — show timeline

• 2026-05-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $135,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-19 Price Changed $160,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-08 Listed $165,000 Stellar MLS as Distributed by MLS Grid
• 2013-04-02 Sold (Public Records) $58,000 Public Records
• 2002-12-16 Sold (Public Records) $48,500 Public Records
• 1998-11-03 Sold (Public Records) $41,500 Public Records

Property tax history

+7.1%/yr

Latest (2025): $2,538 · +5.5% YoY. Source: county tax records.