35023 Zephyr Shores Dr · Zephyrhills, FL 33541

$75,000

2 bd · 2.0 ba · 672 sqft · Manufactured public records · 143 Days on market

Built 1977 6,110 sqft lot Est $87k · 14% under $50/mo HOA · 3% of rent ↓ 21% 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 +30.0/30.0
• ARV discount +13.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Search no more! This great furnished 2 bedroom/1 bath single-wide mobile home could be just the winter retreat or year-round home you're looking for. It is located in Zephyr Shores, a 55+ mobile home subdivision where you own the lots the homes are on. Owner says new membrane roof was installed in 2024. At the south end of the home, you have a lovely eat-in kitchen. In the center of the home is a comfortable living room. Lots of room for entertaining. The south facing Florida room is light bright and has a separate AC unit for your comfort. You will likely spend many pleasant hours here enjoying our great weather. All rooms, except the kitchen and bath, have attractive laminate flooring! Th

Key facts

• Laminate flooring
• Utility room
• Eat-in kitchen

Tags

• NEW MEMBRANE ROOF
• EAT-IN KITCHEN
• SOUTH FACING FLORIDA ROOM
• LAMINATE FLOORING
• LONG CARPORT
• UTILITY ROOM

Property features AI

Finance

• Other: Furnished; Total building area listed (public records): 1,674 sq ft; Living area listed (public records): 672 sq ft; Lot is private, paved, in county with asphalt road and private maintained road; approximately 0.14 acres
• Financial info: Lease restrictions apply
• HOA & community: Has HOA — monthly fee $50 (annual $600); fees required and association approval required; Association amenities include clubhouse, pool, shuffleboard court; pool and recreational facilities and trash included in fee; Community features: buyer approval required, clubhouse, deed restrictions, golf carts allowed, pool, senior community; Pets allowed (cats OK)

Exterior

• Parking: Covered carport; 3 carport spaces
• Utilities: Public water; Public sewer; Broadband/high-speed internet available; Cable available; Electricity connected
• Home design: Manufactured home (single wide); One story; Faces south; Entry level: One
• Construction: Metal frame with vinyl siding; Membrane roof; Crawlspace foundation with pillar/post/pier
• Exterior features: Covered porch; Covered patio; Rain gutters; Storage shed; Gunite pool

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Blinds and drapes
• Laundry & utility: Washer; Dryer; Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $834 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.6% vs local median 3.8% in Zephyrhills — 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 72/100 on livability (#330 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, crime C-, 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 soft (-2.5%/yr); 856 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• This rent runs 38% 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 $519 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.40% ✓
• Cap rate: 19.63%
• Cash-on-cash: 47.64%
• DSCR: 3.12
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $87,360
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35012 Dale Ave	0.03mi	2/2.0	732 (+9%)	4mo	$95,000	$130	80
35204 Ada Ave	0.17mi	2/1.0	710 (+6%)	0mo	$80,000	$113	78
35246 Tiffani Lot 63 Ct	0.29mi	2/1.0	687 (+2%)	5mo	$118,000	$172	74
35142 Zephyr Shores Dr	0.13mi	2/2.0	720 (+7%)	12mo	$83,000	$115	72
35220 Condominium Blvd #25	0.23mi	2/1.0	621 (-8%)	3mo	$90,000	$145	71
35238 Dodie Dr #09	0.24mi	1/2.0 (-1)	726 (+8%)	2mo	$79,000	$109	69

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: 41.5%
• Equity multiple: 2.70×
• Total profit: $35,746
• Equity at exit: $11,183

10-year hold

• IRR: 46.2%
• Equity multiple: 4.78×
• Total profit: $79,422
• Equity at exit: $6,485

Cash invested: $21,000 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,797 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$112 /mo · $1,341/yr
• Insurance: −$31
• HOA: −$50
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $834

Break-even live

Break-even rent $742

Max offer price $75,000

Occupancy floor 49%

Sensitivity live

Price	-10% $876	-5% $855	+0% $834	+5% $812	+10% $791
Rent	-10% $692	-5% $763	+0% $834	+5% $905	+10% $976
Rate	-1.0pp $871	-0.5pp $853	base $834	+0.5pp $814	+1.0pp $794

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34002 Painthorse Way Wesley Chapel, FL	1.0–3.0	1.0–2.0	1022	$2,208	$2.16	3d	46	1.37mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 17 events

1. 2026-06-18
   days on market $75,000 Active 143 DOM
2. 2026-06-17
   days on market $75,000 Active 142 DOM
3. 2026-06-16
   days on market $75,000 Active 141 DOM
4. 2026-06-15
   days on market $75,000 Active 140 DOM
5. 2026-06-13
   days on market $75,000 Active 138 DOM
6. 2026-06-09
   days on market $75,000 Active 134 DOM
7. 2026-06-08
   days on market $75,000 Active 133 DOM
8. 2026-06-07
   days on market $75,000 Active 132 DOM
9. 2026-06-04
   days on market $75,000 Active 129 DOM
10. 2026-06-03
    days on market $75,000 Active 128 DOM
11. 2026-06-02
    days on market $75,000 Active 127 DOM
12. 2026-06-01
    days on market $75,000 Active 126 DOM
13. 2026-05-31
    days on market $75,000 Active 125 DOM
14. 2026-01-26
    listed $75,000 Active
15. 2025-05-02
    historical
16. 2025-03-31
    price $85,000
17. 2025-01-14
    listed $95,000 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: $1,341 · $112/mo
• Projected year-2 tax: $1,341 · $112/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 5/10 Major
• 🌡 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: $21,570
• − Mortgage interest: −$4,201
• − Property taxes: −$1,341
• − Insurance: −$375
• − Repairs & maintenance: −$1,726
• − Management: −$1,726
• − HOA: −$600
• − Depreciation: −$2,182
• Taxable income: $9,419
• Est. tax owed @ 24.0%: −$2,261
• After-tax cash flow: $7,744/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

• Score: 72/100
• State rank: #330
• US rank: #5760

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D- 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
• City population: 48,266
• 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

-21.1% since first listed

4 events — show timeline

• 2026-01-26 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-03-31 Price Changed $85,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-14 Listed $95,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+7.0%/yr

Latest (2025): $1,341 · +5.6% YoY. Source: county tax records.