7647 Shannon Ln · Zephyrhills North, FL 33540

$269,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 115 Days on market

Built 1977 1.44 ac lot Est $199k · 36% 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 +26.5/30.0
• DSCR +9.1/10.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

READY TO BUILD? What a great opportunity for you to build your perfect dream home, Rehab the existing home or have this one removed and a brand new mobile home put in place. No matter what your thoughts may be this is the perfect opportunity to make this what ever you want. This 1977 mobile home is situated on 1.44 acres and is a great way to save on impact fees. This home has a well and septic currently in place and is nicely nestled under some oak trees on a dirt road in the country. So if you are tired of being in the City and want a place to call home and build your dreams from here then call today about this wonderful opportunity before it is gone. Parcel #36-25-21-0010-03500-0011 is also available for sale and can be combined with this property.

Key facts

• No cdd
• New roof metal
• No hoa

Tags

• NEW ROOF METAL
• REMODELED MOBILE HOME
• INCOME PRODUCING PROPERTY
• NO HOA
• NO CDD

Property features AI

Finance

• Other: Property type: Residential; Property subtype: Manufactured Home; Zoning: AR; Lot size: approximately 1.44 acres (1 to less than 2 acres); Road surface: Dirt
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA/association

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Well water; Septic tank; Electricity connected
• Home design: Manufactured home (single-story); Faces north; One level; Entry level: One
• Construction: Metal frame and wood frame construction; Metal roof; Crawlspace foundation; Built as a manufactured home
• Exterior features: Exterior storage

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: 3 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No interior features listed
• Laundry & utility: Laundry located inside; Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $270k.

Deal economics

• At list price, monthly cash flow is $717 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $246k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 7.7% in Zephyrhills North — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 61/100 on livability (#787 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, 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: 235 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $8k 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 $76k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $130k; list at $270k implies a 108% 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 $245,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.11% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.38%
• DSCR: 1.51
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $198,912
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7309 23rd St	0.60mi	3/2.0	1,288 (-4%)	8mo	$199,000	$155	59
40211 Friar Tuck Trl	0.56mi	2/2.0 (-1)	1,440 (+7%)	2mo	$105,000	$73	55
8014 Hobart Dr	0.37mi	3/2.0	1,456 (+8%)	18mo	$230,000	$158	54
8105 Cindy Dr	0.50mi	3/2.0	1,152 (-14%)	7mo	$135,000	$117	48
8351 Clara Dr	0.74mi	3/2.0	1,152 (-14%)	7mo	$170,000	$148	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,826
• Equity at exit: $40,243

10-year hold

• IRR: 10.2%
• Equity multiple: 1.79×
• Total profit: $60,033
• Equity at exit: $23,336

Cash invested: $75,572 (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 33540

• Home prices YoY: -3.0%
• Active inventory: 235
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $3,008 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$131 /mo · $1,577/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$632
• Net cashflow: $717

Break-even live

Break-even rent $2,100

Max offer price $269,900

Occupancy floor 71%

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8540 Boyt Rd Zephyrhills, FL	3.0	2.0	1674	$3,500	$2.09	24d	1	1.03mi
8313 Wheat Stone Dr Zephyrhills, FL	3.0	2.0	1864	$2,275	$1.22	24d	1	1.37mi

Listing history 29 events

1. 2026-06-18
   days on market $269,900 Active 115 DOM
2. 2026-06-17
   days on market $269,900 Active 114 DOM
3. 2026-06-16
   days on market $269,900 Active 113 DOM
4. 2026-06-15
   days on market $269,900 Active 112 DOM
5. 2026-06-13
   days on market $269,900 Active 110 DOM
6. 2026-06-09
   days on market $269,900 Active 106 DOM
7. 2026-06-08
   days on market $269,900 Active 105 DOM
8. 2026-06-07
   days on market $269,900 Active 104 DOM
9. 2026-06-04
   days on market $269,900 Active 101 DOM
10. 2026-06-03
    days on market $269,900 Active 100 DOM
11. 2026-06-02
    days on market $269,900 Active 99 DOM
12. 2026-06-01
    days on market $269,900 Active 98 DOM
13. 2026-05-31
    days on market $269,900 Active 97 DOM
14. 2026-02-23
    listed $269,900 Active
15. 2023-05-17
    soldstatus $130,000
16. 2023-05-16
    soldstatus $130,000 Closed 761-char remark

    Show marketing remark (761 chars)

    READY TO BUILD? What a great opportunity for you to build your perfect dream home, Rehab the existing home or have this one removed and a brand new mobile home put in place. No matter what your thoughts may be this is the perfect opportunity to make this what ever you want. This 1977 mobile home is situated on 1.44 acres and is a great way to save on impact fees. This home has a well and septic currently in place and is nicely nestled under some oak trees on a dirt road in the country. So if you are tired of being in the City and want a place to call home and build your dreams from here then call today about this wonderful opportunity before it is gone. Parcel #36-25-21-0010-03500-0011 is also available for sale and can be combined with this property.

17. 2023-04-19
    status Pending 761-char remark

    Show marketing remark (761 chars)

    READY TO BUILD? What a great opportunity for you to build your perfect dream home, Rehab the existing home or have this one removed and a brand new mobile home put in place. No matter what your thoughts may be this is the perfect opportunity to make this what ever you want. This 1977 mobile home is situated on 1.44 acres and is a great way to save on impact fees. This home has a well and septic currently in place and is nicely nestled under some oak trees on a dirt road in the country. So if you are tired of being in the City and want a place to call home and build your dreams from here then call today about this wonderful opportunity before it is gone. Parcel #36-25-21-0010-03500-0011 is also available for sale and can be combined with this property.

18. 2023-04-12
    price $149,900 761-char remark

    Show marketing remark (761 chars)

    READY TO BUILD? What a great opportunity for you to build your perfect dream home, Rehab the existing home or have this one removed and a brand new mobile home put in place. No matter what your thoughts may be this is the perfect opportunity to make this what ever you want. This 1977 mobile home is situated on 1.44 acres and is a great way to save on impact fees. This home has a well and septic currently in place and is nicely nestled under some oak trees on a dirt road in the country. So if you are tired of being in the City and want a place to call home and build your dreams from here then call today about this wonderful opportunity before it is gone. Parcel #36-25-21-0010-03500-0011 is also available for sale and can be combined with this property.

19. 2023-03-10
    price $154,900 761-char remark

    Show marketing remark (761 chars)

    READY TO BUILD? What a great opportunity for you to build your perfect dream home, Rehab the existing home or have this one removed and a brand new mobile home put in place. No matter what your thoughts may be this is the perfect opportunity to make this what ever you want. This 1977 mobile home is situated on 1.44 acres and is a great way to save on impact fees. This home has a well and septic currently in place and is nicely nestled under some oak trees on a dirt road in the country. So if you are tired of being in the City and want a place to call home and build your dreams from here then call today about this wonderful opportunity before it is gone. Parcel #36-25-21-0010-03500-0011 is also available for sale and can be combined with this property.

20. 2023-03-06
    status Active 761-char remark

    Show marketing remark (761 chars)

    READY TO BUILD? What a great opportunity for you to build your perfect dream home, Rehab the existing home or have this one removed and a brand new mobile home put in place. No matter what your thoughts may be this is the perfect opportunity to make this what ever you want. This 1977 mobile home is situated on 1.44 acres and is a great way to save on impact fees. This home has a well and septic currently in place and is nicely nestled under some oak trees on a dirt road in the country. So if you are tired of being in the City and want a place to call home and build your dreams from here then call today about this wonderful opportunity before it is gone. Parcel #36-25-21-0010-03500-0011 is also available for sale and can be combined with this property.

21. 2023-02-24
    status Pending 761-char remark

    Show marketing remark (761 chars)

    READY TO BUILD? What a great opportunity for you to build your perfect dream home, Rehab the existing home or have this one removed and a brand new mobile home put in place. No matter what your thoughts may be this is the perfect opportunity to make this what ever you want. This 1977 mobile home is situated on 1.44 acres and is a great way to save on impact fees. This home has a well and septic currently in place and is nicely nestled under some oak trees on a dirt road in the country. So if you are tired of being in the City and want a place to call home and build your dreams from here then call today about this wonderful opportunity before it is gone. Parcel #36-25-21-0010-03500-0011 is also available for sale and can be combined with this property.

22. 2023-02-02
    listed $159,900 Active 761-char remark

    Show marketing remark (761 chars)

    READY TO BUILD? What a great opportunity for you to build your perfect dream home, Rehab the existing home or have this one removed and a brand new mobile home put in place. No matter what your thoughts may be this is the perfect opportunity to make this what ever you want. This 1977 mobile home is situated on 1.44 acres and is a great way to save on impact fees. This home has a well and septic currently in place and is nicely nestled under some oak trees on a dirt road in the country. So if you are tired of being in the City and want a place to call home and build your dreams from here then call today about this wonderful opportunity before it is gone. Parcel #36-25-21-0010-03500-0011 is also available for sale and can be combined with this property.

23. 2023-01-06
    historical
24. 2022-11-06
    price $165,000
25. 2022-10-08
    price $175,000
26. 2022-09-12
    listed $200,000 Active
27. 2022-06-28
    soldstatus $50,000
28. 2015-05-20
    soldstatus $50,000
29. 2005-06-09
    soldstatus $42,000

ⓘ 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: $1,577 · $131/mo
• Projected year-2 tax: $2,240 · $187/mo
• Expected delta: +$663/yr (+$55/mo · 42.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,090
• − Mortgage interest: −$15,119
• − Property taxes: −$1,577
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,887
• − Management: −$2,887
• − Depreciation: −$7,852
• Taxable income: $4,418
• Est. tax owed @ 24.0%: −$1,060
• After-tax cash flow: $7,539/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 North

• Score: 61/100
• State rank: #787
• US rank: #18026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,098

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 10% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Cuban 2%
• Common ancestry: Lithuanian 4% Romanian 3% Italian 2%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 9% French/Haitian/Cajun 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: ▼ -11.57%
• Current HPI: 370.8747
• Rent YoY: —
• Metro: —
• 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

+542.6% since first listed

16 events — show timeline

• 2026-02-23 Listed $269,900 Stellar MLS as Distributed by MLS Grid
• 2023-05-17 Sold (Public Records) $130,000 Public Records
• 2023-05-16 Sold (MLS) $130,000 Stellar MLS as Distributed by MLS Grid
• 2023-04-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-04-12 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2023-03-10 Price Changed $154,900 Stellar MLS as Distributed by MLS Grid
• 2023-03-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-02-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-02-02 Listed $159,900 Stellar MLS as Distributed by MLS Grid
• 2023-01-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-11-06 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2022-10-08 Price Changed $175,000 Stellar MLS as Distributed by MLS Grid
• 2022-09-12 Listed $200,000 Stellar MLS as Distributed by MLS Grid
• 2022-06-28 Sold (Public Records) $50,000 Public Records
• 2015-05-20 Sold (Public Records) $50,000 Public Records
• 2005-06-09 Sold (Public Records) $42,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $1,577 · -0.3% YoY. Source: county tax records.