39820 US Highway 19 N #182 · Tarpon Springs, FL 34689

$99,900

2 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 80 Days on market

Built 1974 $380/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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sought after Stonehedge 55+ Co-OP. Excellent location and high and dry. The clubhouse, heated pool, and shuffleboard abound with activities. This spacious well kept home is complete with furnishings. The Co-Op share is included in the price.

Key facts

• 2 parking spots
• Community pool
• Built 1974

Property features AI

Finance

• Other: Lease restrictions apply; Property is furnished
• Financial info: Total monthly HOA fees $380 (total annual $4,560)
• HOA & community: HOA required with monthly fee of $380; Association amenities: clubhouse, pool, recreation facilities, shuffleboard court, security, maintenance, storage, cable TV, internet, trash, water, sewer, common area taxes, management, pest control, private road; Buyer/association approval required; Senior community with community features such as sidewalks and street lights; Pets allowed (cats OK, with limits); Association contact listed

Exterior

• Parking: Covered driveway with tandem parking; 2-car carport
• Security: Community security included (HOA amenity)
• Utilities: Public water and well water available; Public sewer; Electricity connected; Cable and high-speed internet available; Water connected; Sewer connected; Sprinkler meter and sprinkler well
• Home design: Residential double-wide mobile home; One story; Wheelchair/grip-accessible features; Faces west
• Construction: Vinyl siding; Membrane and metal roof; Pillar/post/pier foundation; Completed condition
• Exterior features: Awnings; Exterior lighting; Rain gutters; Sidewalks; Sliding doors; Sprinkler (metered and well); Storage shed; Shed(s)/storage

Interior

• Kitchen: Dishwasher; Microwave; Range; Range hood; Refrigerator; Exhaust fan; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Laundry/utility room features present; Living/dining areas; Thermostat; Walk-in closet(s); Window treatments (blinds, drapes and rods)
• Laundry & utility: Washer; Dryer

🏢 Co-op / cooperative unit. The $99,900 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/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 3.4% in Tarpon Springs — 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 68/100 on livability (#502 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, schools A-; Watch: employment C-, amenities F, commute F.
• Pinellas (suburban): math 51% / reading 51% proficiency, ranked #31 of 73 in FL (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-1.2%/yr); 399 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 30% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pinellas County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $9k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $100k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1974 — 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. Schools are A-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?
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: 1.89% ✓
• Cap rate: 12.36%
• Cash-on-cash: 21.66%
• DSCR: 1.96
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $163,488
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
39820 US Highway 19 N #180	0.09mi	3/2.0 (+1)	1,296 (+4%)	8mo	$185,000	$143	78
39820 US Highway 19 N #10	0.09mi	2/2.0	1,320 (+6%)	20mo	$165,000	$125	70
39820 US Highway 19 N #9	0.09mi	2/2.0	1,104 (-12%)	11mo	$145,000	$131	67

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: 10.1%
• Equity multiple: 1.38×
• Total profit: $10,644
• Equity at exit: $14,895

10-year hold

• IRR: 15.9%
• Equity multiple: 2.08×
• Total profit: $30,123
• Equity at exit: $8,638

Cash invested: $27,972 (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 34689

• Rents YoY: -1.2%
• Active inventory: 399
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,892 high
• Mortgage (P&I): −$524
• Tax from tax record: −$44 /mo · $526/yr
• Insurance: −$42
• HOA: −$380
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $505

Break-even live

Break-even rent $1,252

Max offer price $99,900

Occupancy floor 68%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39650 US Highway 19 N #141 Tarpon Springs, FL	2.0	2.0	950	$1,550	$1.63	4d	1	0.18mi
640 Haven Pl #640 Tarpon Springs, FL	2.0	1.5	960	$1,595	$1.66	7d	1	0.39mi
673 Haven Pl #673 Tarpon Springs, FL	2.0	1.5	960	$1,450	$1.51	14d	1	0.42mi
501 Saint Michaels Way Unit 520 Tarpon Springs, FL	2.0	2.0	1000	$1,595	$1.59	24d	1	0.46mi
605 S Disston Ave Tarpon Springs, FL	3.0	1.0	1290	$2,120	$1.64	21d	1	0.48mi
524 E Lime St Tarpon Springs, FL	2.0	1.0	775	$1,600	$2.06	24d	1	0.64mi
1113 E Lime St Tarpon Springs, FL	2.0	1.0	780	$1,200	$1.54	3d	1	0.70mi
1185 S Pinellas Ave Tarpon Springs, FL	1.0–3.0	1.0–2.0	1013	$2,154	$2.12	1d	21	0.76mi
650 E Tarpon Ave Unit C1 Tarpon Springs, FL	3.0	2.0	900	$2,000	$2.22	7d	1	0.77mi
326 S Grosse Ave Apt 2 Tarpon Springs, FL	3.0	2.0	1130	$2,098	$1.86	24d	1	0.79mi
320 S Grosse Ave Tarpon Springs, FL	3.0	1.0	936	$1,749	$1.87	24d	1	0.80mi
401 E Boyer St Tarpon Springs, FL	3.0	2.0	1130	$2,099	$1.86	2d	1	0.81mi
401 E Boyer St Unit 3 Tarpon Springs, FL	3.0	2.0	1130	$2,099	$1.86	24d	1	0.81mi
401 E Boyer St Tarpon Springs, FL	3.0	2.0	1130	$2,299	$2.03	24d	1	0.81mi
316 E Boyer St Tarpon Springs, FL	3.0	1.0	936	$1,749	$1.87	24d	1	0.83mi
329 Moorings Cove Dr Tarpon Springs, FL	2.0	2.0	1020	$1,700	$1.67	20d	1	1.03mi
825 Cypress St Tarpon Springs, FL	1.0–2.0	1.0	750	$1,723	$2.30	2d	6	1.04mi
90 S Highland Ave #101 Tarpon Springs, FL	2.0	2.0	1130	$1,795	$1.59	24d	1	1.13mi
1990 Carolina Ave Tarpon Springs, FL	3.0	1.0	960	$1,250	$1.30	21d	1	1.19mi
610 N Walton Ave Tarpon Springs, FL	3.0	2.0	1280	$2,045	$1.60	24d	1	1.21mi
103 E Park St Tarpon Springs, FL	3.0	1.0	999	$3,000	$3.00	24d	1	1.22mi
707 E Spruce St Tarpon Springs, FL	3.0	1.0	967	$1,700	$1.76	10d	1	1.23mi
817 Margo St Tarpon Springs, FL	2.0	1.0	792	$1,600	$2.02	24d	1	1.25mi
105 S Spring Blvd Unit 10 Tarpon Springs, FL	1.0	1.0	700	$1,350	$1.93	24d	1	1.31mi
2350 Cypress Pond Rd Palm Harbor, FL	1.0–2.0	1.0–2.0	790	$1,670	$2.11	1d	54	1.44mi
605 Lennox Rd W Palm Harbor, FL	2.0	2.0	1050	$1,950	$1.86	3d	1	1.44mi

HOA detail

• Monthly dues: $380 · $4,560/yr
• Likely covers: pool

Listing history 21 events

1. 2026-06-18
   days on market $99,900 Active 80 DOM
2. 2026-06-17
   days on market $99,900 Active 79 DOM
3. 2026-06-16
   days on market $99,900 Active 78 DOM
4. 2026-06-15
   days on market $99,900 Active 77 DOM
5. 2026-06-13
   days on market $99,900 Active 75 DOM
6. 2026-06-09
   days on market $99,900 Active 71 DOM
7. 2026-06-08
   days on market $99,900 Active 70 DOM
8. 2026-06-07
   days on market $99,900 Active 69 DOM
9. 2026-06-04
   days on market $99,900 Active 66 DOM
10. 2026-06-03
    days on market $99,900 Active 65 DOM
11. 2026-06-01
    days on market $99,900 Active 63 DOM
12. 2026-05-31
    days on market $99,900 Active 62 DOM
13. 2026-04-29
    price $99,900
14. 2026-03-30
    listed $109,000 Active
15. 2008-11-19
    soldstatus $63,000
16. 2008-11-18
    soldstatus $63,000 241-char remark

    Show marketing remark (241 chars)

    Sought after Stonehedge 55+ Co-OP. Excellent location and high and dry. The clubhouse, heated pool, and shuffleboard abound with activities. This spacious well kept home is complete with furnishings. The Co-Op share is included in the price.

17. 2008-08-26
    listed $70,000 241-char remark

    Show marketing remark (241 chars)

    Sought after Stonehedge 55+ Co-OP. Excellent location and high and dry. The clubhouse, heated pool, and shuffleboard abound with activities. This spacious well kept home is complete with furnishings. The Co-Op share is included in the price.

18. 2007-09-12
    listed $70,000
19. 2007-03-05
    listed $75,000
20. 2006-11-15
    listed $75,000
21. 2003-08-04
    soldstatus $43,800

ⓘ 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: $526 · $44/mo
• Projected year-2 tax: $829 · $69/mo
• Expected delta: +$303/yr (+$25/mo · 57.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,699
• − Mortgage interest: −$5,596
• − Property taxes: −$526
• − Insurance: −$500
• − Repairs & maintenance: −$1,816
• − Management: −$1,816
• − HOA: −$4,560
• − Depreciation: −$2,906
• Taxable income: $4,979
• Est. tax owed @ 24.0%: −$1,195
• After-tax cash flow: $4,865/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: Pinellas
• NCES district ID: 1201560
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $46,270
• Composite: 43.27/100
• National rank: #3046
• State rank: #31 of 73 in FL

Livability — Tarpon Springs

• Score: 68/100
• State rank: #502
• US rank: #9244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tarpon Springs, FL
• County: Pinellas County · 939,478 people
• City population: 27,324
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,324
• Household income: $74,854
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 721.0

Population outlook (Pinellas County) Hauer SSP2

• Today (2025): 1,027,532 people
• By 2030: 1,063,586 · +3.5%
• By 2040: 1,125,020 · +9.5%
• By 2050: 1,168,637 · +13.7%
• By 2075: 1,265,188 · +23.1%
• By 2100: 1,260,357 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 7% Black 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica, Dominican Republic
• Languages at home: 84% English-only · Other Indo-European 6% Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · Pinellas

• 2024 margin: Lean R (+5.2) · D 46.9% · R 52.1%
• 2008→2024 swing: -13.5pp toward R · 2008: 8.3pp · 2024: -5.2pp
• All cycles: 2024: R+5.2 2020: D+0.2 2016: R+1.1 2012: D+5.6 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -300.96%
• Current HPI: 303.7434
• Rent YoY: ▼ -1.16%
• 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

+128.1% since first listed

9 events — show timeline

• 2026-04-29 Price Changed $99,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-30 Listed $109,000 Stellar MLS as Distributed by MLS Grid
• 2008-11-19 Sold (Public Records) $63,000 Public Records
• 2008-11-18 Sold (MLS) $63,000 Stellar MLS as Distributed by MLS Grid
• 2008-08-26 Listed $70,000 Stellar MLS as Distributed by MLS Grid
• 2007-09-12 Listed $70,000 Stellar MLS as Distributed by MLS Grid
• 2007-03-05 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 2006-11-15 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 2003-08-04 Sold (Public Records) $43,800 Public Records

Property tax history

-3.6%/yr

Latest (2025): $526 · +6.3% YoY. Source: county tax records.