6975 Edgewater Dr · New Port Richey, FL 34652

$94,950

1 bd · 1.0 ba · 480 sqft · Manufactured public records · 332 Days on market

Built 1985 2,800 sqft lot Est $67k · 41% over · waterfront

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

* * OR BEST OFFER * * •NO HOA. •A steal! Do you want to enjoy the beach as if it were your own private little beach while living in a WATERFRONT home? Say no more as you don't even have to leave the community to either SAIL, WALK or BIKE RIDE to the BEACH because ONLY 6 MINUTES away is Robert K Rees Memorial Park - a 45 acre beachfront that includes a 650 ft boardwalk with mangroves, picnicking and a WILDLIFE OBSERVATION TOWER. •So, in summary with this home you could: Store your watercrafts, fish from your own backyard, either sail, walk, or ride to the very nearby and semi-private beach. •Engineering Report and Order is attached to this listing and readily avai

Key facts

• Partially fenced
• Seawall
• No rear neighbors

Tags

• WATERFRONT
• BAYOU FRONTAGE
• INTERIOR WOOD PANELS REPLACED
• PARTIALLY FENCED
• SEAWALL
• NO REAR NEIGHBORS

Property features AI

Finance

• Other: Lot size about 0.06 acre (approx. 40' x 70'); Asphalt public-maintained road access; Two lots total; Living area about 480 square feet
• Financial info: Property is homestead exempt; Two lots (additional parcel present); Lot is cleared, level, private, in city limits and in a flood zone
• HOA & community: Pets allowed; No HOA/association indicated

Exterior

• Parking: Curb parking; Driveway; On-street parking
• Utilities: Public water; Public sewer; Public utilities
• Home design: Manufactured single-wide home; One story; Faces west
• Construction: Metal frame construction; Metal roof; Crawlspace foundation; Built on one level
• Exterior features: Covered side porch; Exterior lighting; Shed(s); On waterfront (Oyster Creek) with canal/creek views; Water access to brackish canal/creek; Concrete seawall; Skiing allowed from water

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: No central heating; Wall/window air conditioning unit(s)
• Interior features: Eat-in kitchen; Kitchen/family room combo; Window treatments
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $-46 ($-550/yr) — negative.
• To cash-flow at today's rent, offer at most $87k (8.5% below list).
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 1.9% in New Port Richey — 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 82/100 on livability (#67 in FL, #1,139 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, commute D, employment 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.
• Zoned schools: Richey Elementary School (math 34% / reading 39%, grade F, #1,656 of 2,144 statewide, top 78%, 650 students, 89% FRL); Gulf Middle School (math 34% / reading 33%, grade F, #428 of 571 statewide, top 76%, 901 students, 83% FRL); Gulf High School (math 32% / reading 34%, grade F, #406 of 667 statewide, top 61%, 1,465 students, 76% FRL) — zoned schools average 83% FRL vs 48% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 51% district-wide (-17 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 644 active listings in the ZIP; 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 $656 of loan paydown is wiped out by about $3k 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 332 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $14k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,556 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 332 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.27% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.19%
• DSCR: 1.76
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $67,392
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5639 Oak Ridge Ave	1.24mi	1/1.0	480 (0%)	10mo	$50,000	$104	57

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 · 0.72% rent growth · sell at horizon

5-year hold

• IRR: -23.5%
• Equity multiple: 0.22×
• Total profit: $-20,783
• Equity at exit: $14,157

10-year hold

• IRR: -31.7%
• Equity multiple: -0.19×
• Total profit: $-31,543
• Equity at exit: $8,210

Cash invested: $26,586 (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 34652

• Home prices YoY: -26.1%
• Rents YoY: 0.7%
• Active inventory: 644
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,208 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$36 /mo · $434/yr
• Insurance: −$40
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-46

Break-even live

Break-even rent $1,266

Max offer price $86,860

Occupancy floor 99%

Sensitivity live

Price	-10% $8	-5% $-19	+0% $-46	+5% $-73	+10% $-100
Rent	-10% $-141	-5% $-94	+0% $-46	+5% $2	+10% $50
Rate	-1.0pp $2	-0.5pp $-22	base $-46	+0.5pp $-70	+1.0pp $-95

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: $23,738
• Closing costs: $2,848
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $94,950 Active 332 DOM
2. 2026-06-17
   days on market $94,950 Active 331 DOM
3. 2026-06-16
   days on market $94,950 Active 330 DOM
4. 2026-06-15
   days on market $94,950 Active 329 DOM
5. 2026-06-13
   days on market $94,950 Active 327 DOM
6. 2026-06-09
   days on market $94,950 Active 323 DOM
7. 2026-06-08
   days on market $94,950 Active 322 DOM
8. 2026-06-07
   days on market $94,950 Active 321 DOM
9. 2026-06-04
   days on market $94,950 Active 318 DOM
10. 2026-06-03
    days on market $94,950 Active 317 DOM
11. 2026-06-02
    days on market $94,950 Active 316 DOM
12. 2026-06-01
    days on market $94,950 Active 315 DOM
13. 2026-05-31
    days on market $94,950 Active 314 DOM
14. 2025-11-15
    price $94,950
15. 2025-07-21
    listed $109,000 Active
16. 2025-03-25
    historical
17. 2025-02-05
    price $94,500
18. 2024-10-31
    price $99,500
19. 2024-08-04
    listed $125,000 Active
20. 2006-09-08
    soldstatus $160,000
21. 2006-06-06
    listed $90,000
22. 2006-01-06
    listed $90,000
23. 2005-03-30
    listed $110,000
24. 2004-09-10
    listed $114,900
25. 2004-08-24
    soldstatus $70,000

ⓘ 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: $434 · $36/mo
• Projected year-2 tax: $788 · $66/mo
• Expected delta: +$354/yr (+$30/mo · 81.7%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 26 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: $14,497
• − Mortgage interest: −$5,319
• − Property taxes: −$434
• − Insurance: −$5,593
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$2,762
• Taxable loss: −$1,930
• Est. tax savings @ 24.0%: +$463
• After-tax cash flow: $-86/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 — New Port Richey

• Score: 82/100
• State rank: #67
• US rank: #1139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Port Richey, FL
• County: Pasco County · 524,098 people
• City population: 137,708
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,444
• Household income: $56,931
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 1190.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 13% Two or more races 9% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 4%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada
• Languages at home: 87% English-only · Spanish 9% 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: ▼ -109.49%
• Current HPI: 310.8347
• Rent YoY: ▲ 0.72%
• 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

+35.6% since first listed

12 events — show timeline

• 2025-11-15 Price Changed $94,950 Stellar MLS as Distributed by MLS Grid
• 2025-07-21 Listed $109,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-02-05 Price Changed $94,500 Stellar MLS as Distributed by MLS Grid
• 2024-10-31 Price Changed $99,500 Stellar MLS as Distributed by MLS Grid
• 2024-08-04 Listed $125,000 Stellar MLS as Distributed by MLS Grid
• 2006-09-08 Sold (Public Records) $160,000 Public Records
• 2006-06-06 Listed $90,000 Stellar MLS as Distributed by MLS Grid
• 2006-01-06 Listed $90,000 Stellar MLS as Distributed by MLS Grid
• 2005-03-30 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2004-09-10 Listed $114,900 Stellar MLS as Distributed by MLS Grid
• 2004-08-24 Sold (Public Records) $70,000 Public Records

Property tax history

-3.4%/yr

Latest (2025): $434 · +6.1% YoY. Source: county tax records.