4742 Azalea Dr #205 · New Port Richey, FL 34652

$79,900

1 bd · 1.0 ba · 736 sqft · Condo public records · 29 Days on market

Built 1971 $345/mo HOA · 28% of rent

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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 +14.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Escape the Winter: The Perfect Florida Snowbird Retreat! ?? Location, Location, Location! Whether you are looking for the ultimate seasonal getaway or a low-maintenance paradise to call home, this charming 1-bedroom, 1-bathroom condo offers the quintessential Florida lifestyle. Nestled in a vibrant, active community, this gem places you just 3 minutes from your local beach and within 5 to 30 minutes of five other world-class beaches. Plus, with Tampa Airport just a 30-minute drive away, arrivals and departures are an absolute breeze. Step Inside Your Oasis Expansive Great Room: A large, open-concept Great Room and Dining combo offers the perfect layout for relaxing or entertaining friend

Key facts

• Bonus florida room
• 3 minutes from beach
• $345 HOA

Tags

• 3 MINUTES FROM BEACH
• 5 WORLD-CLASS BEACHES
• 30 MINUTE DRIVE TO AIRPORT
• OPEN-CONCEPT GREAT ROOM
• GENEROUS WALK-IN CLOSET
• BONUS FLORIDA ROOM

Property features AI

Finance

• Other: Unfurnished; Third-party listing/contact involved
• Financial info: Total monthly fees $345; total annual fees $4,140; Lease restrictions apply
• HOA & community: Monthly association fee of $345 (includes common area taxes, pool, escrow reserves, insurance, structure maintenance, grounds maintenance, management, recreational facilities, sewer, trash, water); Association approval required; Association recreation owned and clubhouse on-site; Deed restrictions; No truck/RV/motorcycle parking; Senior community; Pets not allowed

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Cable available; Broadband/high-speed internet available; Electricity available; Water connected
• Home design: Condominium; 2 total stories; Located on 2nd floor; Faces west
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as part of a multi-unit building (Building 4742 Unit 205)
• Exterior features: Sliding doors; Paved road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Open floor plan; Walk-in closet
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $24 ($286/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.7% 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: James M. Marlowe Elementary School (math 35% / reading 39%, grade F, #1,609 of 2,144 statewide, top 77%, 558 students, 85% 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 82% FRL vs 48% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 51% district-wide (-16 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $552 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.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $23k; list at $80k implies a 247% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.52% ✓
• Cap rate: 6.65%
• Cash-on-cash: 1.28%
• DSCR: 1.06
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.72% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.38×
• Total profit: $-13,900
• Equity at exit: $11,913

10-year hold

• IRR: -20.2%
• Equity multiple: 0.12×
• Total profit: $-19,798
• Equity at exit: $6,908

Cash invested: $22,372 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,215 high
• Mortgage (P&I): −$419
• Tax from tax record: −$138 /mo · $1,660/yr
• Insurance: −$33
• HOA: −$345
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $24

Break-even live

Break-even rent $1,184

Max offer price $79,900

Occupancy floor 93%

Sensitivity live

Price	-10% $69	-5% $46	+0% $24	+5% $1	+10% $-21
Rent	-10% $-72	-5% $-24	+0% $24	+5% $72	+10% $120
Rate	-1.0pp $64	-0.5pp $44	base $24	+0.5pp $3	+1.0pp $-18

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4744 Azalea Dr #204 New Port Richey, FL	1.0	1.0	736	$1,085	$1.47	0d	1	0.06mi
5333 Pasadena Dr Unit 5333 New Port Richey, FL	1.0	1.0	576	$1,200	$2.08	19d	1	0.08mi
4722 Kennedy Dr New Port Richey, FL	1.0	1.0	504	$850	$1.69	26d	1	0.11mi
4529 Audrey Ln New Port Richey, FL	2.0	1.0	750	$1,295	$1.73	23d	1	0.21mi
4540 Audrey Ln New Port Richey, FL	2.0	1.0	750	$1,150	$1.53	26d	1	0.21mi
4551 Audrey Ln NEW PRT RCHY, FL	2.0	1.0	750	$1,295	$1.73	23d	1	0.21mi
4518 Audrey Ln Unit 4551 New Port Richey, FL	2.0	1.0	750	$1,295	$1.73	23d	1	0.24mi
5149 Tangelo Dr Apt B New Port Richey, FL	1.0	1.0	350	$1,195	$3.41	26d	1	0.40mi
5154 Turquoise Ln #102 New Port Richey, FL	1.0	1.0	708	$1,250	$1.77	6d	1	0.59mi
4901 Onyx Ln #102 New Port Richey, FL	1.0	1.0	672	$1,295	$1.93	26d	1	0.66mi
4944 Elkner St New Port Richey, FL	2.0	1.0	722	$1,350	$1.87	23d	1	0.69mi
4948 Getner St New Port Richey, FL	2.0	1.0	722	$1,350	$1.87	26d	1	0.73mi
4922 Filner St New Port Richey, FL	1.0	1.0	540	$1,000	$1.85	23d	1	0.74mi
5543 Gulf Dr New Port Richey, FL	2.0	1.0	744	$1,550	$2.08	18d	1	0.80mi
4209 Touchton Pl New Port Richey, FL	1.0	1.0	624	$1,300	$2.08	18d	1	1.16mi
5741 Tennessee Ave New Port Richey, FL	1.0	1.0	700	$1,200	$1.71	26d	1	1.20mi
5825 Illinois Ave Unit 5828 New Port Richey, FL	—	1.0	600	$1,050	$1.75	19d	1	1.35mi
5805 Delaware Ave New Port Richey, FL	2.0	1.0	700	$1,250	$1.79	26d	1	1.41mi
6322 Alaska Ave New Port Richey, FL	2.0	1.0	720	$1,500	$2.08	26d	1	1.44mi
6807 Porter Rd Unit PCG G-102 New Port Richey, FL	—	1.0	605	$925	$1.53	6d	1	1.48mi
6807 Porter Rd Unit PCG G-202 New Port Richey, FL	1.0	1.0	605	$1,025	$1.69	6d	1	1.48mi

HOA detail condo

• Monthly dues: $345 · $4,140/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-22
   days on market $79,900 Active 29 DOM
2. 2026-06-18
   days on market $79,900 Active 26 DOM
3. 2026-06-17
   days on market $79,900 Active 25 DOM
4. 2026-06-16
   days on market $79,900 Active 24 DOM
5. 2026-06-15
   days on market $79,900 Active 23 DOM
6. 2026-06-13
   days on market $79,900 Active 21 DOM
7. 2026-06-09
   days on market $79,900 Active 17 DOM
8. 2026-06-08
   days on market $79,900 Active 16 DOM
9. 2026-06-07
   days on market $79,900 Active 15 DOM
10. 2026-06-04
    days on market $79,900 Active 12 DOM
11. 2026-06-03
    days on market $79,900 Active 11 DOM
12. 2026-06-02
    days on market $79,900 Active 10 DOM
13. 2026-06-01
    days on market $79,900 Active 9 DOM
14. 2026-05-31
    days on market $79,900 Active 8 DOM
15. 2026-05-23
    listed $79,900 Active
16. 2017-08-14
    historical
17. 2016-09-22
    price $37,500
18. 2016-06-16
    price $41,500
19. 2016-05-03
    listed $43,000 Active
20. 1997-08-11
    soldstatus $23,000

ⓘ 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: $1,660 · $138/mo
• Projected year-2 tax: $1,660 · $138/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 8 d/yr ≥109°F today · 30 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,574
• − Mortgage interest: −$4,476
• − Property taxes: −$1,660
• − Insurance: −$400
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − HOA: −$4,140
• − Depreciation: −$2,324
• Taxable loss: −$757
• Est. tax savings @ 24.0%: +$182
• After-tax cash flow: $468/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

+247.4% since first listed

6 events — show timeline

• 2026-05-23 Listed $79,900 Stellar MLS as Distributed by MLS Grid
• 2017-08-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-09-22 Price Changed $37,500 Stellar MLS as Distributed by MLS Grid
• 2016-06-16 Price Changed $41,500 Stellar MLS as Distributed by MLS Grid
• 2016-05-03 Listed $43,000 Stellar MLS as Distributed by MLS Grid
• 1997-08-11 Sold (Public Records) $23,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $1,660 · +4.8% YoY. Source: county tax records.