5639 Riverview Dr · New Port Richey, FL 34652

$46,500

1 bd · 1.0 ba · 480 sqft · Manufactured public records · 109 Days on market

Built 1970 2,420 sqft lot Est $50k · 7% under $150/mo HOA · 12% of rent

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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 +10.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Don't miss this one!!!!! You can see and feel that this home has been loved and truly cared for throughout the years. Updated 1 bedroom 1 bathroom mobile home with peaceful air conditioned sitting room. Enjoy your morning coffee just listening to the birds. Both sheds organized and equipped with electric. You will fall in love with the outside sitting area and remote control awning. Florida sun is no joke, but this seller has thought of everything. Split wall units throughout, tankless water heater, updated electric, remodeled interior with no carpet, and washer/ dryer single unit combo. Cotee River Mobile Home Park is a 55+ neighborhood with low HOA fees in a prime location. Just minutes from eateries, bars, medical facilities, Sims Park, the community boat ramp, park across the street where you can fish or kayak from, etc. Welcome to Downtown NEW PORT RICHEY! Do I need to go on? Call me today! I would love to tell you more and introduce you to your future home. Great all year around or just if you want to be a snow bird. Comes furnished and ready for you. Approval process will require a background and credit check (700 plus).

Key facts

• New plumbing
• Light fixtures
• New kitchen cabinets

Tags

• NEW KITCHEN CABINETS
• STAINLESS STEEL APPLIANCES
• NEW PLUMBING
• LIGHT FIXTURES
• LUXURY VINYL FLOORING
• ENCLOSED SUNROOM AREA

Property features AI

Finance

• Other: Association name: DONALD SHELTON
• Financial info: Total monthly fees: $150; Total annual fees: $1,800; Lease restrictions apply
• HOA & community: Monthly association fee of $150 (includes water and sewer); Association requires approval; Association amenities: Clubhouse, Shuffleboard court; Senior community; Pets allowed

Exterior

• Parking: Covered parking; Driveway; 1-car carport
• Utilities: Electricity connected; Water connected; Sewer connected; Public sewer; Water source: None
• Home design: Residential mobile home (single wide); One story; Southeast-facing entry
• Construction: Metal frame construction; Metal roof; Other foundation
• Exterior features: Covered enclosed patio/porch; Awnings; Hurricane shutters; Storage; Shed(s)

Interior

• Kitchen: Range; Microwave; Refrigerator; Ice maker; Disposal; Tankless water heater
• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window cooling unit(s); Other heating system
• Interior features: Ceiling fans; Disposal; Ice maker; Microwave; Range; Refrigerator; Tankless water heater
• Laundry & utility: Inside laundry area; Washer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $46k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $42k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.4% vs local median 2.0% 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 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 35% 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; 635 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 $321 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.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $16k (25%) 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $42,315 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 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 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 2.69% ✓
• Cap rate: 20.44%
• Cash-on-cash: 50.54%
• DSCR: 3.25
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $49,920
• 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	0.03mi	1/1.0	480 (0%)	10mo	$50,000	$104	90

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: -4.8%
• Equity multiple: 0.83×
• Total profit: $-2,231
• Equity at exit: $6,933

10-year hold

• IRR: -2.2%
• Equity multiple: 0.88×
• Total profit: $-1,515
• Equity at exit: $4,020

Cash invested: $13,020 (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: 635
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$244
• Tax from tax record: −$26 /mo · $318/yr
• Insurance: −$19
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$150
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $122

Break-even live

Break-even rent $1,097

Max offer price $46,500

Occupancy floor 85%

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: $11,625
• Closing costs: $1,395
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5149 Tangelo Dr Apt B New Port Richey, FL	1.0	1.0	350	$1,195	$3.41	24d	1	0.64mi
6012 12th Ave New Port Richey, FL	1.0	1.0	318	$1,000	$3.14	24d	1	1.18mi

HOA detail

• Monthly dues: $150 · $1,800/yr
• Likely covers: waterelectric

Listing history 21 events

1. 2026-06-13
   statusdays on market $46,500 Pending 109 DOM
2. 2026-06-09
   days on market $46,500 Active 108 DOM
3. 2026-06-08
   days on market $46,500 Active 107 DOM
4. 2026-06-07
   days on market $46,500 Active 106 DOM
5. 2026-06-04
   days on market $46,500 Active 103 DOM
6. 2026-06-03
   days on market $46,500 Active 102 DOM
7. 2026-06-02
   days on market $46,500 Active 101 DOM
8. 2026-06-01
   days on market $46,500 Active 100 DOM
9. 2026-06-01
   price $46,500 Active 99 DOM
10. 2026-05-31
    days on market $48,000 Active 99 DOM
11. 2026-05-23
    price $48,000
12. 2026-04-23
    price $50,000
13. 2026-03-20
    price $55,000
14. 2026-02-28
    price $59,000
15. 2026-02-21
    listed $62,000 Active
16. 2022-08-16
    soldstatus $62,000 Closed 1145-char remark

    Show marketing remark (1145 chars)

    Don't miss this one!!!!! You can see and feel that this home has been loved and truly cared for throughout the years. Updated 1 bedroom 1 bathroom mobile home with peaceful air conditioned sitting room. Enjoy your morning coffee just listening to the birds. Both sheds organized and equipped with electric. You will fall in love with the outside sitting area and remote control awning. Florida sun is no joke, but this seller has thought of everything. Split wall units throughout, tankless water heater, updated electric, remodeled interior with no carpet, and washer/ dryer single unit combo. Cotee River Mobile Home Park is a 55+ neighborhood with low HOA fees in a prime location. Just minutes from eateries, bars, medical facilities, Sims Park, the community boat ramp, park across the street where you can fish or kayak from, etc. Welcome to Downtown NEW PORT RICHEY! Do I need to go on? Call me today! I would love to tell you more and introduce you to your future home. Great all year around or just if you want to be a snow bird. Comes furnished and ready for you. Approval process will require a background and credit check (700 plus).

17. 2022-07-05
    status Pending 1145-char remark

    Show marketing remark (1145 chars)

    Don't miss this one!!!!! You can see and feel that this home has been loved and truly cared for throughout the years. Updated 1 bedroom 1 bathroom mobile home with peaceful air conditioned sitting room. Enjoy your morning coffee just listening to the birds. Both sheds organized and equipped with electric. You will fall in love with the outside sitting area and remote control awning. Florida sun is no joke, but this seller has thought of everything. Split wall units throughout, tankless water heater, updated electric, remodeled interior with no carpet, and washer/ dryer single unit combo. Cotee River Mobile Home Park is a 55+ neighborhood with low HOA fees in a prime location. Just minutes from eateries, bars, medical facilities, Sims Park, the community boat ramp, park across the street where you can fish or kayak from, etc. Welcome to Downtown NEW PORT RICHEY! Do I need to go on? Call me today! I would love to tell you more and introduce you to your future home. Great all year around or just if you want to be a snow bird. Comes furnished and ready for you. Approval process will require a background and credit check (700 plus).

18. 2022-06-24
    price $69,900 1145-char remark

    Show marketing remark (1145 chars)

    Don't miss this one!!!!! You can see and feel that this home has been loved and truly cared for throughout the years. Updated 1 bedroom 1 bathroom mobile home with peaceful air conditioned sitting room. Enjoy your morning coffee just listening to the birds. Both sheds organized and equipped with electric. You will fall in love with the outside sitting area and remote control awning. Florida sun is no joke, but this seller has thought of everything. Split wall units throughout, tankless water heater, updated electric, remodeled interior with no carpet, and washer/ dryer single unit combo. Cotee River Mobile Home Park is a 55+ neighborhood with low HOA fees in a prime location. Just minutes from eateries, bars, medical facilities, Sims Park, the community boat ramp, park across the street where you can fish or kayak from, etc. Welcome to Downtown NEW PORT RICHEY! Do I need to go on? Call me today! I would love to tell you more and introduce you to your future home. Great all year around or just if you want to be a snow bird. Comes furnished and ready for you. Approval process will require a background and credit check (700 plus).

19. 2022-05-24
    listed $74,900 Active 1145-char remark

    Show marketing remark (1145 chars)

    Don't miss this one!!!!! You can see and feel that this home has been loved and truly cared for throughout the years. Updated 1 bedroom 1 bathroom mobile home with peaceful air conditioned sitting room. Enjoy your morning coffee just listening to the birds. Both sheds organized and equipped with electric. You will fall in love with the outside sitting area and remote control awning. Florida sun is no joke, but this seller has thought of everything. Split wall units throughout, tankless water heater, updated electric, remodeled interior with no carpet, and washer/ dryer single unit combo. Cotee River Mobile Home Park is a 55+ neighborhood with low HOA fees in a prime location. Just minutes from eateries, bars, medical facilities, Sims Park, the community boat ramp, park across the street where you can fish or kayak from, etc. Welcome to Downtown NEW PORT RICHEY! Do I need to go on? Call me today! I would love to tell you more and introduce you to your future home. Great all year around or just if you want to be a snow bird. Comes furnished and ready for you. Approval process will require a background and credit check (700 plus).

20. 2008-02-01
    soldstatus $29,000
21. 2006-02-01
    soldstatus $25,000

ⓘ 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: $318 · $26/mo
• Projected year-2 tax: $386 · $32/mo
• Expected delta: +$68/yr (+$6/mo · 21.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 27 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: $15,008
• − Mortgage interest: −$2,605
• − Property taxes: −$318
• − Insurance: −$5,351
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − HOA: −$1,800
• − Depreciation: −$1,353
• Taxable income: $1,180
• Est. tax owed @ 24.0%: −$283
• After-tax cash flow: $1,178/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

+92.0% since first listed

11 events — show timeline

• 2026-05-23 Price Changed $48,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $50,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $55,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-28 Price Changed $59,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-21 Listed $62,000 Stellar MLS as Distributed by MLS Grid
• 2022-08-16 Sold (MLS) $62,000 Stellar MLS as Distributed by MLS Grid
• 2022-07-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-06-24 Price Changed $69,900 Stellar MLS as Distributed by MLS Grid
• 2022-05-24 Listed $74,900 Stellar MLS as Distributed by MLS Grid
• 2008-02-01 Sold (Public Records) $29,000 Public Records
• 2006-02-01 Sold (Public Records) $25,000 Public Records

Property tax history

+13.4%/yr

Latest (2025): $318 · +2.3% YoY. Source: county tax records.