105 Saint Martins Way · Apollo Beach, FL 33572

$49,900

2 bd · 1.0 ba · 900 sqft · Condo public records · 84 Days on market

Built 1987 $242/mo HOA ↓ 52% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits in the 55+ Caribbean Isles Residential Cooperative! This single wide mobile home is situated on a desirable lot and may have potential for renovation with substantial investment in repairs; however, the true value is to remove and replace with a new home tailored to your preferences. The lot can accommodate a replacement home ranging from a 16-foot single wide up to a 24-foot double wide (buyer to verify with the co-op). Caribbean Isles is a resident-owned waterfront community known for its active lifestyle and resort-style amenities. Residents enjoy access to canals leading directly to Tampa Bay, along with an on-site boat and kayak launch. Additional features include optional boat and RV storage available for approximately $120 to $250 a year, depending on space size. The community offers a clubhouse, heated pool, social activities, and is both pet- and golf cart-friendly. With no lot rent and a low monthly maintenance fee, this is an excellent opportunity to build or place your ideal home in a highly sought-after waterfront community in Apollo Beach.

Key facts

• Waterfront community
• Optional rv storage
• Pet friendly

Tags

• WATERFRONT COMMUNITY
• BOAT AND KAYAK LAUNCH
• OPTIONAL BOAT STORAGE
• OPTIONAL RV STORAGE
• HEATED POOL
• PET FRIENDLY

🏢 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 condo listed at $50k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#333 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities F, health & safety F.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 761 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 9,053 units permitted in Hillsborough County in 2024 (4,555 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.
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; 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 6→23/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 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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.
10. 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.
11. 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: 3.91% ✓
• Cap rate: 27.44%
• Cash-on-cash: 75.52%
• DSCR: 4.36
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.36% rent growth · sell at horizon

5-year hold

• IRR: 36.4%
• Equity multiple: 2.57×
• Total profit: $21,949
• Equity at exit: $7,440

10-year hold

• IRR: 43.6%
• Equity multiple: 5.38×
• Total profit: $61,159
• 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 33572

• Rents YoY: 3.4%
• Active inventory: 761
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,952 high
• Mortgage (P&I): −$262
• Tax from tax record: −$138 /mo · $1,661/yr
• Insurance: −$21
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$242
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $453

Break-even live

Break-even rent $1,379

Max offer price $49,900

Occupancy floor 72%

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 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
349 Apollo Beach Blvd Apollo Beach, FL	2.0	1.0	583	$1,700	$2.92	3d	12	0.10mi
6144 Paseo Al Mar Blvd Apollo Beach, FL	1.0–2.0	1.0–2.0	1084	$2,164	$2.00	2d	28	0.58mi
6350 Union Station Ct Apollo Beach, FL	3.0	1.0–2.0	1105	$2,372	$2.15	1d	42	0.72mi
529 Red Mangrove Ln Apollo Beach, FL	3.0	2.0	1056	$2,200	$2.08	18d	1	1.00mi
917 Apollo Beach Blvd Apollo Beach, FL	2.0	1.0–2.0	1120	$2,261	$2.02	5d	5	1.11mi
960 Apollo Beach Blvd #102 Apollo Beach, FL	2.0	1.5	1002	$1,900	$1.90	24d	1	1.29mi
1008 Apollo Beach Blvd Apollo Beach, FL	2.0	2.0	1125	$2,325	$2.07	5d	2	1.37mi
1021 Apollo Beach Blvd #3 Apollo Beach, FL	1.0	1.0	625	$1,750	$2.80	5d	1	1.39mi
1025 Apollo Beach Blvd Unit B Apollo Beach, FL	1.0	1.0	625	$1,500	$2.40	24d	1	1.40mi
1025 Apollo Beach Blvd Unit D Apollo Beach, FL	2.0	1.0	800	$1,700	$2.12	24d	1	1.40mi
1029 Apollo Beach Blvd #5 Apollo Beach, FL	2.0	1.0	800	$1,700	$2.12	24d	1	1.41mi
1028 Apollo Beach Blvd Apollo Beach, FL	2.0	2.0	1084	$1,812	$1.67	12d	1	1.47mi

HOA detail condo

• Monthly dues: $242 · $2,904/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-13
   statusdays on market $49,900 Pending 84 DOM
2. 2026-06-09
   days on market $49,900 Active 81 DOM
3. 2026-06-08
   days on market $49,900 Active 80 DOM
4. 2026-06-07
   days on market $49,900 Active 79 DOM
5. 2026-06-04
   days on market $49,900 Active 76 DOM
6. 2026-06-03
   days on market $49,900 Active 75 DOM
7. 2026-06-02
   days on market $49,900 Active 74 DOM
8. 2026-06-01
   days on market $49,900 Active 73 DOM
9. 2026-05-31
   days on market $49,900 Active 72 DOM
10. 2026-04-23
    price $49,900 1088-char remark

    Show marketing remark (1088 chars)

    Opportunity awaits in the 55+ Caribbean Isles Residential Cooperative! This single wide mobile home is situated on a desirable lot and may have potential for renovation with substantial investment in repairs; however, the true value is to remove and replace with a new home tailored to your preferences. The lot can accommodate a replacement home ranging from a 16-foot single wide up to a 24-foot double wide (buyer to verify with the co-op). Caribbean Isles is a resident-owned waterfront community known for its active lifestyle and resort-style amenities. Residents enjoy access to canals leading directly to Tampa Bay, along with an on-site boat and kayak launch. Additional features include optional boat and RV storage available for approximately $120 to $250 a year, depending on space size. The community offers a clubhouse, heated pool, social activities, and is both pet- and golf cart-friendly. With no lot rent and a low monthly maintenance fee, this is an excellent opportunity to build or place your ideal home in a highly sought-after waterfront community in Apollo Beach.

11. 2026-03-20
    listed $55,000 Active 1088-char remark

    Show marketing remark (1088 chars)

    Opportunity awaits in the 55+ Caribbean Isles Residential Cooperative! This single wide mobile home is situated on a desirable lot and may have potential for renovation with substantial investment in repairs; however, the true value is to remove and replace with a new home tailored to your preferences. The lot can accommodate a replacement home ranging from a 16-foot single wide up to a 24-foot double wide (buyer to verify with the co-op). Caribbean Isles is a resident-owned waterfront community known for its active lifestyle and resort-style amenities. Residents enjoy access to canals leading directly to Tampa Bay, along with an on-site boat and kayak launch. Additional features include optional boat and RV storage available for approximately $120 to $250 a year, depending on space size. The community offers a clubhouse, heated pool, social activities, and is both pet- and golf cart-friendly. With no lot rent and a low monthly maintenance fee, this is an excellent opportunity to build or place your ideal home in a highly sought-after waterfront community in Apollo Beach.

12. 2026-03-13
    historical
13. 2025-09-12
    listed $75,000 Active
14. 2025-06-06
    historical
15. 2025-04-25
    price $99,000
16. 2024-12-13
    listed $105,000 Active

ⓘ 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: $1,661 · $138/mo
• Projected year-2 tax: $1,661 · $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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,426
• − Mortgage interest: −$2,795
• − Property taxes: −$1,661
• − Insurance: −$5,368
• − Repairs & maintenance: −$1,874
• − Management: −$1,874
• − HOA: −$2,904
• − Depreciation: −$1,452
• Taxable income: $5,498
• Est. tax owed @ 24.0%: −$1,320
• After-tax cash flow: $4,114/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: Hillsborough
• NCES district ID: 1200870
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $50,622
• Composite: 41.6/100
• National rank: #3435
• State rank: #41 of 73 in FL

Livability — Apollo Beach

• Score: 72/100
• State rank: #333
• US rank: #5784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Apollo Beach, FL
• County: Hillsborough County · 1,540,968 people
• City population: 26,495
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 26,495
• Household income: $122,130
• Rent vs Own: 15.9% rent · 84.1% own
• Severe rent burden: 381.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 1,607,022 people
• By 2030: 1,733,968 · +7.9%
• By 2040: 1,979,565 · +23.2%
• By 2050: 2,203,427 · +37.1%
• By 2075: 2,667,893 · +66.0%
• By 2100: 2,891,558 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 15% Black 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica, Guatemala
• Languages at home: 86% English-only · Spanish 10% Russian/Polish/Slavic 1% Tagalog/Filipino 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 47.8% · R 50.9% · Other 1.3%
• 2008→2024 swing: -10.2pp toward R · 2008: 7.1pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+6.9 2016: D+6.8 2012: D+6.7 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -393.97%
• Current HPI: 300.9596
• Rent YoY: ▲ 3.36%
• 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

-52.5% since first listed

7 events — show timeline

• 2026-04-23 Price Changed $49,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Listed $55,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-09-12 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-25 Price Changed $99,000 Stellar MLS as Distributed by MLS Grid
• 2024-12-13 Listed $105,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2025): $1,661 · +7.9% YoY. Source: county tax records.