Real Estate Investing in Land O Lakes, Florida (34638)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 34638 (Land O Lakes, FL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
No major risk flags on the data we track.
What’s happening in Land O Lakes, FL (34638)?
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Market Analysis: 34638 Land O Lakes
Not every below-median market is a bargain. Land O Lakes's 34638 ZIP registers signals that favor experienced operators who can absorb the risk $425K pricing implies.
On the rental side, the numbers look inviting — $425K purchase price, 0.0% nominal cap — the work to hit that pro forma in 34638 is substantial and deserves full respect.
Within FL, ZIP 34638 trails on several market indicators that neighboring Pasco County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
Stepping back, 35,900 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 34638 is an operator game, not a passive one. Meanwhile, entry prices of $425K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Land O Lakes:
Property Strategy for 34638
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $336,097 | $2,960 | 6.3% | +7.0% | $168,049 |
| 3BR | $360,083 | $3,780 | 7.6% | +7.5% | $120,028 |
| 4BR | $468,191 | $4,610 | 7.1% | +8.3% | $117,048 |
| 5BR | $591,222 | — | — | +9.1% | $118,244 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 34638 Compare?
| Metric | 34638 | Land O Lakes | Tampa-St. Petersburg-Clearwater, FL | Florida |
|---|---|---|---|---|
| Home Value | $424,793 | $419,552 | N/A | $374,697 |
| 5-Year CAGR | 3.7% | 3.8% | N/A | 7.4% |
| Avg Rent | $2,338 | $2,313 | N/A | - |
| Cap Rate | 4.3% | 4.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 34638 (Land O Lakes, FL). Anonymous, moderated, never written by AI.
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Property managers serving Pasco County
Manage rentals here? List your business →Dennis Property Management offers rental agency and management services in the Tampa Bay area, including multi-family management, investor packages, and resources for homeowners and tenants. summary from their website
Jerome Property Management LLC offers property management services. summary from their website
Paragon Property Services, LLC offers full-service home inspection services in Central Florida, including Lake, Sumter, Seminole, Orange, Osceola, Polk, Pasco, Hernando, Hillsborough, Volusia, and Cit summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $424,793 |
| Monthly Rent | $2,338 |
| Price-to-Rent | 15.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 8.0% |
📈 Home Appreciation
| 1-Year | -2.8% ▼ |
| 3-Year CAGR | -2.2% ▼ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 Rent Trends
| 1-Year | -2.3% ▼ |
| 3-Year CAGR | +1.4% ▲ |
| 5-Year CAGR | +4.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 34638
Population: 35,900
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 34638
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,108 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is real estate in Land O Lakes, FL a good investment right now?
Land O Lakes, FL rates 3.0/5 for investability. With median values at $425K and rents near $2,338/mo, the market offers reasonable fundamentals for rental investors.
What do landlords charge for rent in Land O Lakes, FL?
Rent in Land O Lakes, FL is around $2,338/mo. The resulting rent-to-value relationship with $425K pricing is reasonable for most investor models.
What is the typical vacancy rate in Land O Lakes, FL?
Occupancy in Land O Lakes, FL runs even-keeled with elevated vacancy. Well-priced units at $2,338/mo lease on reasonable timelines.
Can owner-occupants cash flow in Land O Lakes, FL?
Land O Lakes, FL is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $425K price point reasonable to enter.
What is the typical renter like in Land O Lakes, FL?
Tenant quality in Land O Lakes, FL ranks as solid. Landlords generally report measured occupancy at market rents of $2,338/mo.
You know 34638 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 34638 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 34638 ranks in Tampa-St. Petersburg-Clearwater, FL
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