18024 Drayton St · Shady Hills, FL 34610

$260,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 105 Days on market

Built 1978 1.16 ac lot Est $281k · 7% under

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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 +21.1/30.0
• ARV discount +10.8/15.0
• DSCR +6.7/10.0
• 1% rule +4.7/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE IMPROVEMENT!! SELLER IS VERY MOTIVATED!! Are you Looking for a home where you can bring your chickens and goat? Look no further!! This 3 bedroom 2 bathroom home sits on a little over 1 ACRE of AGRICULTURAL LAND. Look no further, you found it!! This original owner home is 1,400 square foot mobile home is situated on 1.15 acres. The home itself does need some updating and TLC but you can make it your little piece of paradise. The lot is quite level, partially fenced and is not in a flood zone. Bring your pets, toys, RV and BOAT! There are No HOA OR CDD's here. HVAC was replaced in 12/2008. This amazing property is close to shopping, medical facilities and minutes from the Suncoast Parkway. Don't let this one get away!

Key facts

• Expansive lot
• Decorative fireplace
• 1.16 acres

Tags

• ROOF 2024
• 1.16 ACRES
• DURABLE LAMINATE FLOORING
• DECORATIVE FIREPLACE
• EXPANSIVE LOT
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• Other: Total lot about 1.16 acres (1 to less than 2 acres)
• Financial info: Property is homesteaded; No lease restrictions
• HOA & community: No HOA/association

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Well water; Septic tank; Sewer connected
• Home design: Manufactured home (double wide); One story; Home faces west; Crawlspace foundation
• Construction: Metal frame construction; Metal siding; Metal roof; Completed condition; Built on a double wide body type
• Exterior features: Private mailbox; Paved road access

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Crown molding; Kitchen/family room combo; Open floorplan; Decorative fireplace in the family room
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $260k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (3.4% below list).
• Recommended offer: $237k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.5% in Shady Hills — 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 69/100 on livability (#467 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, commute D+.
• 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: Shady Hills Elementary School (math 48% / reading 45%, grade D-, #1,223 of 2,144 statewide, top 57%, 471 students, 77% FRL); Hudson High School (math 45% / reading 40%, grade F, #264 of 667 statewide, top 41%, 1,387 students, 66% FRL) — zoned schools average 71% FRL vs 48% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 256 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.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $143k; list at $260k implies a 82% 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 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 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 1978 — 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: 0.97% ✗
• Cap rate: 8.00%
• Cash-on-cash: 6.11%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $280,800
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18008 Greensboro St	0.13mi	4/2.0 (+1)	1,512 (+5%)	1mo	$280,000	$185	80
17736 Medley Ave	0.61mi	3/2.0	1,458 (+1%)	3mo	$285,000	$195	67
17800 Drayton St	0.25mi	3/2.0	1,344 (-7%)	18mo	$150,000	$112	62
17609 Greensboro St	0.44mi	3/2.0	1,248 (-13%)	4mo	$283,000	$227	54
17718 Rockledge Ave	0.54mi	3/2.0	1,252 (-13%)	4mo	$155,000	$124	49
18446 Alexson St	0.51mi	2/2.0 (-1)	1,592 (+11%)	14mo	$348,000	$219	42

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-18,610
• Equity at exit: $38,767

10-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $13,874
• Equity at exit: $22,480

Cash invested: $72,800 (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 34610

• Home prices YoY: -13.8%
• Active inventory: 256
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,512 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$142 /mo · $1,703/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $370

Break-even live

Break-even rent $2,043

Max offer price $260,000

Occupancy floor 80%

Sensitivity live

Price	-10% $518	-5% $444	+0% $370	+5% $297	+10% $223
Rent	-10% $172	-5% $271	+0% $370	+5% $470	+10% $569
Rate	-1.0pp $501	-0.5pp $437	base $370	+0.5pp $303	+1.0pp $235

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
156 Rose Bud Ln Spring Hill, FL	4.0	2.5	1875	$2,200	$1.17	3d	1	1.22mi
18321 Edgewood Dr Spring Hill, FL	2.0	2.0	1633	$2,800	$1.71	25d	1	1.30mi

Listing history 25 events

1. 2026-06-18
   days on market $260,000 Active 105 DOM
2. 2026-06-17
   remarks 684-char remark
3. 2026-06-17
   days on market $260,000 Active 104 DOM
4. 2026-06-16
   days on market $260,000 Active 103 DOM
5. 2026-06-15
   days on market $260,000 Active 102 DOM
6. 2026-06-13
   days on market $260,000 Active 100 DOM
7. 2026-06-09
   days on market $260,000 Active 96 DOM
8. 2026-06-08
   days on market $260,000 Active 95 DOM
9. 2026-06-08
   status $260,000 Active 94 DOM
10. 2026-06-02
    statusdays on market $260,000 Pending 94 DOM
11. 2026-06-01
    days on market $260,000 Active 93 DOM
12. 2026-05-31
    days on market $260,000 Active 92 DOM
13. 2026-04-29
    status Pending
14. 2026-03-27
    price $260,000
15. 2026-03-04
    price $275,000
16. 2026-01-31
    listed $285,000 Active
17. 2024-08-06
    soldstatus $143,000
18. 2024-07-31
    soldstatus $143,000 Closed 738-char remark

    Show marketing remark (731 chars)

    PRICE IMPROVEMENT!! SELLER IS VERY MOTIVATED!! Are you Looking for a home where you can bring your chickens and goat? Look no further!! This 3 bedroom 2 bathroom home sits on a little over 1 ACRE of AGRICULTURAL LAND. Look no further, you found it!! This original owner home is 1,400 square foot mobile home is situated on 1.15 acres. The home itself does need some updating and TLC but you can make it your little piece of paradise. The lot is quite level, partially fenced and is not in a flood zone. Bring your pets, toys, RV and BOAT! There are No HOA OR CDD's here. HVAC was replaced in 12/2008. This amazing property is close to shopping, medical facilities and minutes from the Suncoast Parkway. Don't let this one get away!

19. 2024-07-31
    soldstatus $143,000 731-char remark

    Show marketing remark (731 chars)

    PRICE IMPROVEMENT!! SELLER IS VERY MOTIVATED!! Are you Looking for a home where you can bring your chickens and goat? Look no further!! This 3 bedroom 2 bathroom home sits on a little over 1 ACRE of AGRICULTURAL LAND. Look no further, you found it!! This original owner home is 1,400 square foot mobile home is situated on 1.15 acres. The home itself does need some updating and TLC but you can make it your little piece of paradise. The lot is quite level, partially fenced and is not in a flood zone. Bring your pets, toys, RV and BOAT! There are No HOA OR CDD's here. HVAC was replaced in 12/2008. This amazing property is close to shopping, medical facilities and minutes from the Suncoast Parkway. Don't let this one get away!

20. 2024-06-26
    status Pending 738-char remark

    Show marketing remark (738 chars)

    PRICE IMPROVEMENT!! SELLER IS VERY MOTIVATED!! Are you Looking for a home where you can bring your chickens and goat? Look no further!! This 3 bedroom 2 bathroom home sits on a little over 1 ACRE of AGRICULTURAL LAND. Look no further, you found it!! This original owner home is 1,400 square foot mobile home is situated on 1.15 acres. The home itself does need some updating and TLC but you can make it your little piece of paradise. The lot is quite level, partially fenced and is not in a flood zone. Bring your pets, toys, RV and BOAT! There are No HOA OR CDD's here. HVAC was replaced in 12/2008. This amazing property is close to shopping, medical facilities and minutes from the Suncoast Parkway. Don't let this one get away!

21. 2024-06-19
    price $160,000 738-char remark

    Show marketing remark (738 chars)

    PRICE IMPROVEMENT!! SELLER IS VERY MOTIVATED!! Are you Looking for a home where you can bring your chickens and goat? Look no further!! This 3 bedroom 2 bathroom home sits on a little over 1 ACRE of AGRICULTURAL LAND. Look no further, you found it!! This original owner home is 1,400 square foot mobile home is situated on 1.15 acres. The home itself does need some updating and TLC but you can make it your little piece of paradise. The lot is quite level, partially fenced and is not in a flood zone. Bring your pets, toys, RV and BOAT! There are No HOA OR CDD's here. HVAC was replaced in 12/2008. This amazing property is close to shopping, medical facilities and minutes from the Suncoast Parkway. Don't let this one get away!

22. 2024-06-04
    price $179,900 738-char remark

    Show marketing remark (738 chars)

    PRICE IMPROVEMENT!! SELLER IS VERY MOTIVATED!! Are you Looking for a home where you can bring your chickens and goat? Look no further!! This 3 bedroom 2 bathroom home sits on a little over 1 ACRE of AGRICULTURAL LAND. Look no further, you found it!! This original owner home is 1,400 square foot mobile home is situated on 1.15 acres. The home itself does need some updating and TLC but you can make it your little piece of paradise. The lot is quite level, partially fenced and is not in a flood zone. Bring your pets, toys, RV and BOAT! There are No HOA OR CDD's here. HVAC was replaced in 12/2008. This amazing property is close to shopping, medical facilities and minutes from the Suncoast Parkway. Don't let this one get away!

23. 2024-05-23
    listed $199,900 Active 738-char remark

    Show marketing remark (731 chars)

    PRICE IMPROVEMENT!! SELLER IS VERY MOTIVATED!! Are you Looking for a home where you can bring your chickens and goat? Look no further!! This 3 bedroom 2 bathroom home sits on a little over 1 ACRE of AGRICULTURAL LAND. Look no further, you found it!! This original owner home is 1,400 square foot mobile home is situated on 1.15 acres. The home itself does need some updating and TLC but you can make it your little piece of paradise. The lot is quite level, partially fenced and is not in a flood zone. Bring your pets, toys, RV and BOAT! There are No HOA OR CDD's here. HVAC was replaced in 12/2008. This amazing property is close to shopping, medical facilities and minutes from the Suncoast Parkway. Don't let this one get away!

24. 2024-05-23
    listed $160,000 731-char remark

    Show marketing remark (731 chars)

    PRICE IMPROVEMENT!! SELLER IS VERY MOTIVATED!! Are you Looking for a home where you can bring your chickens and goat? Look no further!! This 3 bedroom 2 bathroom home sits on a little over 1 ACRE of AGRICULTURAL LAND. Look no further, you found it!! This original owner home is 1,400 square foot mobile home is situated on 1.15 acres. The home itself does need some updating and TLC but you can make it your little piece of paradise. The lot is quite level, partially fenced and is not in a flood zone. Bring your pets, toys, RV and BOAT! There are No HOA OR CDD's here. HVAC was replaced in 12/2008. This amazing property is close to shopping, medical facilities and minutes from the Suncoast Parkway. Don't let this one get away!

25. 2005-11-28
    listed $115,900

ⓘ 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: $1,703 · $142/mo
• Projected year-2 tax: $2,158 · $180/mo
• Expected delta: +$455/yr (+$38/mo · 26.7%)

ⓘ 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 10/10 Extreme 6 d/yr ≥108°F today · 22 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,140
• − Mortgage interest: −$14,564
• − Property taxes: −$1,703
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,411
• − Management: −$2,411
• − Depreciation: −$7,564
• Taxable income: $187
• Est. tax owed @ 24.0%: −$45
• After-tax cash flow: $4,401/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 — Shady Hills

• Score: 69/100
• State rank: #467
• US rank: #8437

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shady Hills, FL
• Population (ZIP): 16,544

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 12% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 3% Serbian 2% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, Vietnam
• Languages at home: 85% English-only · Spanish 12% Other Indo-European 1% Vietnamese 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: ▼ -55.13%
• Current HPI: 342.8714
• 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

+124.3% since first listed

13 events — show timeline

• 2026-04-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-27 Price Changed $260,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-04 Price Changed $275,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-31 Listed $285,000 Stellar MLS as Distributed by MLS Grid
• 2024-08-06 Sold (Public Records) $143,000 Public Records
• 2024-07-31 Sold (MLS) $143,000 St. Augustine and St. Johns County Board of REALTORS®
• 2024-07-31 Sold (MLS) $143,000 HCAR
• 2024-06-26 Pending — HCAR
• 2024-06-19 Price Changed $160,000 HCAR
• 2024-06-04 Price Changed $179,900 HCAR
• 2024-05-23 Listed $160,000 St. Augustine and St. Johns County Board of REALTORS®
• 2024-05-23 Listed $199,900 HCAR
• 2005-11-28 Listed $115,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+8.4%/yr

Latest (2025): $1,703 · -26.1% YoY. Source: county tax records.