38645 Remora Ave · Zephyrhills, FL 33542

$49,900

2 bd · 1.0 ba · 600 sqft · Manufactured public records · 61 Days on market

Built 1972 $120/mo HOA

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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 +12.7/15.0
• 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 +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Huge Price Reduction!! Welcome to this beautiful updated home located in the desirable sleepy Hollow resident owned cooperative community. This charming property features 1 spacious bedroom plus an additional bedroom offering flexible space for guest, living area, and 1 fully updated bathroom comes fully furnished , Step inside to an inviting open concept, living space design for comfort, and functionality. This home has been thoughtfully upgraded with new flooring and energy efficient windows, providing both style and piece of mind for the new owner. The kitchen is well appointed with stainless steel oven making it both modern and practical. Enjoy Florida living at its best with a screen

Key facts

• New flooring
• Screen in patio
• Updated home

Tags

• UPDATED HOME
• OPEN CONCEPT LIVING SPACE
• NEW FLOORING
• ENERGY EFFICIENT WINDOWS
• STAINLESS STEEL OVEN
• SCREEN IN PATIO

Property features AI

Finance

• Other: Furnished: Yes
• Financial info: Total monthly fees $120; total annual fees $1,440; Lease restrictions apply
• HOA & community: Has HOA (monthly fee $120) — Buyer approval required; HOA amenities include clubhouse, pool, shuffleboard court; fee includes pool and private road; Community features: clubhouse, pool, street lights, golf carts OK, buyer approval required; Senior community; Pets allowed: cats OK

Exterior

• Parking: Carport with 2 spaces
• Utilities: Electricity available; Underground utilities; Water connected; Private sewer; Water source: None
• Home design: Residential mobile home (single wide); One story; Faces east; Crawlspace foundation
• Construction: Metal frame construction; Metal roof; Built on crawlspace
• Exterior features: Storage; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; 5 total rooms
• Laundry & utility: Washer hookup; Dryer hookup (electric); Outside laundry access

🏢 Co-op / cooperative unit. The $49,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.2% 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 falling (-3.6%/yr); 297 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $50k implies a 81% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 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 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: 2.32% ✓
• Cap rate: 16.17%
• Cash-on-cash: 35.29%
• DSCR: 2.57
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $56,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6323 Ohio St	0.31mi	2/1.0	600 (0%)	4mo	$35,000	$58	82
38734 Minnesota Ave	0.28mi	1/1.5 (-1)	600 (0%)	2mo	$51,000	$85	78
38641 Lansing Ave	0.03mi	2/1.0	672 (+12%)	2mo	$50,000	$74	77
6349 20th St	0.36mi	2/1.0	644 (+7%)	6mo	$37,000	$57	66
6343 Ohio St	0.28mi	2/1.5	672 (+12%)	2mo	$63,500	$94	63
38755 New Jersey Ave	0.30mi	2/1.5	672 (+12%)	5mo	$75,000	$112	60
39206 Hillcrest Dr	0.61mi	2/1.0	576 (-4%)	7mo	$25,000	$43	59
6423 Ohio St	0.24mi	2/1.5	684 (+14%)	7mo	$75,000	$110	58
39107 Hillcrest Dr	0.52mi	2/1.0	672 (+12%)	2mo	$77,000	$115	54
6301 Connecticut St	0.32mi	2/1.0	684 (+14%)	10mo	$64,000	$94	54
39301 Maher Dr	0.66mi	1/1.0 (-1)	639 (+6%)	9mo	$66,500	$104	46
38988 Stapley Cir	0.67mi	2/1.5	672 (+12%)	5mo	$50,000	$74	43

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: 26.8%
• Equity multiple: 2.06×
• Total profit: $14,803
• Equity at exit: $7,440

10-year hold

• IRR: 32.2%
• Equity multiple: 3.43×
• Total profit: $33,930
• Equity at exit: $4,314

Cash invested: $13,972 (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: 297
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,159 high
• Mortgage (P&I): −$262
• Tax from tax record: −$102 /mo · $1,230/yr
• Insurance: −$21
• HOA: −$120
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $411

Break-even live

Break-even rent $639

Max offer price $49,900

Occupancy floor 60%

Sensitivity live

Price	-10% $439	-5% $425	+0% $411	+5% $397	+10% $383
Rent	-10% $319	-5% $365	+0% $411	+5% $457	+10% $502
Rate	-1.0pp $436	-0.5pp $424	base $411	+0.5pp $398	+1.0pp $385

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38748 Calumet Ave Zephyrhills, FL	2.0	1.0	750	$1,100	$1.47	6d	1	0.24mi
39029 Kirkland Dr Zephyrhills, FL	1.0	1.0	500	$950	$1.90	25d	1	0.44mi
38706 Daughtery Rd Zephyrhills, FL	1.0	1.0	445	$974	$2.19	17d	2	0.47mi
6052 10th St Zephyrhills, FL	2.0	1.0	644	$1,200	$1.86	25d	1	0.55mi
38112 Townview Ave Zephyrhills, FL	1.0	1.0	700	$1,100	$1.57	25d	1	0.90mi
38010 14th Ave Apt 3 Zephyrhills, FL	1.0	1.0	537	$1,195	$2.23	25d	1	1.06mi
5426 8th St #1 Zephyrhills, FL	1.0	1.0	432	$1,150	$2.66	25d	1	1.16mi
5611 1st St Zephyrhills, FL	1.0	1.0	600	$1,095	$1.82	17d	1	1.22mi
5600 Jennie St Zephyrhills, FL	2.0	2.0	730	$1,100	$1.51	25d	1	1.22mi
5548 Annette St Zephyrhills, FL	2.0	1.0	652	$1,049	$1.61	13d	1	1.24mi
5603 Eugene Dr Zephyrhills, FL	2.0	1.0	652	$1,049	$1.61	13d	1	1.26mi
5552 Annette St Zephyrhills, FL	2.0	1.0	652	$1,049	$1.61	25d	1	1.27mi
39041 Manor Dr Unit B Zephyrhills, FL	1.0	1.0	450	$1,000	$2.22	25d	1	1.28mi
5217 17th St Zephyrhills, FL	1.0	1.0	540	$1,050	$1.94	25d	1	1.35mi
5206 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	6d	1	1.37mi
5208 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	6d	1	1.37mi
5214 7th St Zephyrhills, FL	1.0	1.0	550	$1,100	$2.00	17d	1	1.37mi
5214 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	6d	1	1.37mi
6991 Fort King Rd Zephyrhills, FL	1.0	1.0	500	$899	$1.80	25d	1	1.38mi
6302 Abbott Station Dr Zephyrhills, FL	3.0	1.0–2.5	855	$1,732	$2.02	3d	142	1.43mi
5150 6th St Zephyrhills, FL	1.0	1.0	600	$925	$1.54	25d	1	1.43mi

HOA detail

• Monthly dues: $120 · $1,440/yr

Listing history 16 events

1. 2026-06-18
   days on market $49,900 Active 61 DOM
2. 2026-06-17
   days on market $49,900 Active 60 DOM
3. 2026-06-16
   days on market $49,900 Active 59 DOM
4. 2026-06-15
   days on market $49,900 Active 58 DOM
5. 2026-06-13
   days on market $49,900 Active 56 DOM
6. 2026-06-09
   days on market $49,900 Active 52 DOM
7. 2026-06-08
   days on market $49,900 Active 51 DOM
8. 2026-06-07
   days on market $49,900 Active 50 DOM
9. 2026-06-04
   pricedays on market $49,900 Active 47 DOM
10. 2026-06-03
    days on market $70,000 Active 46 DOM
11. 2026-06-02
    days on market $70,000 Active 45 DOM
12. 2026-06-01
    days on market $70,000 Active 44 DOM
13. 2026-05-31
    days on market $70,000 Active 43 DOM
14. 2026-05-20
    price $70,000
15. 2026-04-18
    listed $80,000 Active
16. 2007-10-01
    soldstatus $27,500

ⓘ 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: $1,230 · $102/mo
• Projected year-2 tax: $1,230 · $102/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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 22 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: $13,912
• − Mortgage interest: −$2,795
• − Property taxes: −$1,230
• − Insurance: −$250
• − Repairs & maintenance: −$1,113
• − Management: −$1,113
• − HOA: −$1,440
• − Depreciation: −$1,452
• Taxable income: $4,520
• Est. tax owed @ 24.0%: −$1,085
• After-tax cash flow: $3,846/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

• Census place: Zephyrhills, FL
• County: Pasco County · 524,098 people
• City population: 48,266
• 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

+154.5% since first listed

3 events — show timeline

• 2026-05-20 Price Changed $70,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-18 Listed $80,000 Stellar MLS as Distributed by MLS Grid
• 2007-10-01 Sold (Public Records) $27,500 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,230 · +9.6% YoY. Source: county tax records.