952 Virginia St #107 · Dunedin, FL 34698

$110,000

2 bd · 1.0 ba · 965 sqft · Condo public records · 17 Days on market

Built 1977 $647/mo HOA · 33% 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 +25.0/30.0
• 1% rule +10.0/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Opportunity knocks in the heart of Dunedin! This 2-bedroom, 1-bath condo unit is located in a well-established 55+ community just minutes from charming downtown, Gulf beaches, and local shops. This property is a true fixer-upper and priced accordingly—perfect for investors, flippers, or buyers looking to customize their retirement retreat. With solid bones and a functional layout, this home offers great potential to transform into a cozy coastal getaway. Features include a spacious living area, enclosed Florida room, and covered parking. The community offers amenities such as a clubhouse, pool, and social activities, ideal for an active lifestyl

Key facts

• Covered parking
• Clubhouse
• Spacious living area

Tags

• SPACIOUS LIVING AREA
• ENCLOSED FLORIDA ROOM
• COVERED PARKING
• CLUBHOUSE
• POOL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.8% in Dunedin — 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 86/100 on livability (#15 in FL, #411 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: employment C-, amenities D.
• 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 rising (+2.7%/yr); 478 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 32% of the median local income ($74k/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 $761 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $110k implies a 244% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — 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. 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?
6. 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.
7. 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.
8. 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: 1.77% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.35%
• DSCR: 1.42
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.69% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-2,784
• Equity at exit: $16,401

10-year hold

• IRR: 7.1%
• Equity multiple: 1.53×
• Total profit: $16,254
• Equity at exit: $9,511

Cash invested: $30,800 (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 34698

• Rents YoY: 2.7%
• Active inventory: 478
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,949 high
• Mortgage (P&I): −$577
• Tax from tax record: −$30 /mo · $364/yr
• Insurance: −$46
• HOA: −$647
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $240

Break-even live

Break-even rent $1,646

Max offer price $110,000

Occupancy floor 83%

Sensitivity live

Price	-10% $302	-5% $271	+0% $240	+5% $209	+10% $178
Rent	-10% $86	-5% $163	+0% $240	+5% $317	+10% $394
Rate	-1.0pp $295	-0.5pp $268	base $240	+0.5pp $211	+1.0pp $182

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
841 Patricia Ave #103 Dunedin, FL	2.0	1.0	874	$2,000	$2.29	25d	1	0.17mi
841 Patricia Ave Dunedin, FL	2.0	1.0–2.0	904	$1,950	$2.16	17d	2	0.18mi
905 Patricia Ave Dunedin, FL	1.0	1.0	550	$1,800	$3.27	25d	1	0.24mi
1196 Angle Rd Dunedin, FL	1.0	1.0	700	$1,675	$2.39	5d	1	0.33mi
1268 Pinehurst Rd Dunedin, FL	1.0	1.0	1080	$1,500	$1.39	17d	1	0.47mi
556 Patricia Ave Dunedin, FL	2.0	1.0	850	$1,795	$2.11	4d	1	0.50mi
978 Cedarwood Ave Dunedin, FL	2.0	1.0	1100	$1,800	$1.64	25d	1	0.51mi
857 Lyndhurst St Unit D Dunedin, FL	2.0	2.0	1050	$1,700	$1.62	18d	1	0.60mi
1388 Robin Hood Ln Unit 1141-B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	2d	1	0.64mi
1141 San Christopher Dr Apt B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	2d	1	0.65mi
825 Lyndhurst St Dunedin, FL	2.0	2.0	900	$1,850	$2.06	5d	1	0.65mi
825 Lyndhurst St Dunedin, FL	2.0	2.0	900	$1,850	$2.06	25d	1	0.65mi
1187 Bass Blvd Unit A Dunedin, FL	2.0	1.0	850	$1,850	$2.18	25d	1	0.68mi
1187 Bass Blvd Unit C Dunedin, FL	2.0	1.0	850	$1,850	$2.18	18d	1	0.68mi
612 Bass Ct Dunedin, FL	1.0–2.0	1.0	698	$2,031	$2.91	2d	6	0.69mi
885 Beltrees St #12 Dunedin, FL	1.0	1.0	550	$1,350	$2.45	25d	1	0.71mi
1412 Gladys Cir Unit 1466152P Dunedin, FL	3.0	2.0	1097	$3,847	$3.51	3d	1	0.74mi
2701 Dunedin Commons Pl Dunedin, FL	1.0–2.0	1.0–2.0	887	$2,710	$3.05	4d	12	0.75mi
580 Skinner Blvd Unit 4 Dunedin, FL	2.0	1.0	750	$2,045	$2.73	25d	1	0.75mi
660 Beltrees St Dunedin, FL	1.0–3.0	1.0–1.5	905	$1,385	$1.53	8d	2	0.78mi
941 Highland Ave Unit D Dunedin, FL	1.0	1.0	1000	$1,300	$1.30	20d	1	0.82mi
525 Bay St Dunedin, FL	2.0	1.0	1104	$3,500	$3.17	5d	1	0.83mi
690 Regina Rd Dunedin, FL	2.0	1.0	745	$2,195	$2.95	5d	1	0.84mi
613 Lyndhurst St Dunedin, FL	3.0	2.0	1080	$1,995	$1.85	11d	1	0.85mi
152 Macalpine Way Dunedin, FL	1.0–3.0	1.0–2.5	943	$2,084	$2.21	2d	42	0.85mi
616 Dogwood Ct Dunedin, FL	1.0	1.0	551	$1,700	$3.09	5d	1	0.85mi
611 Lyndhurst St Dunedin, FL	3.0	2.0	1080	$1,995	$1.85	5d	1	0.85mi
607 Lyndhurst St Unit 607 Dunedin, FL	2.0	1.0	677	$2,250	$3.32	25d	1	0.86mi
612 Dogwood Ct Dunedin, FL	1.0	1.0	550	$1,350	$2.45	5d	1	0.86mi
609 Dogwood Ct Unit 609 Dunedin, FL	2.0	1.0	725	$1,850	$2.55	25d	1	0.87mi
451 Skinner Blvd Unit A Dunedin, FL	2.0	1.0	750	$1,500	$2.00	8d	1	0.90mi
417 Milwaukee Ave Dunedin, FL	2.0	1.0	650	$1,850	$2.85	5d	1	0.91mi
416 Skinner Blvd Unit B Dunedin, FL	1.0	1.0	620	$1,795	$2.90	25d	1	0.95mi
257 Milwaukee Ave Dunedin, FL	1.0–2.0	1.0–1.5	889	$1,460	$1.64	2d	9	0.96mi
1005 Egret Ct Dunedin, FL	2.0	2.0	996	$1,400	$1.41	4d	1	1.05mi
600 Douglas Ave Unit 350 Dunedin, FL	2.0	1.0	1000	$2,195	$2.19	25d	1	1.06mi
600 Douglas Ave Unit 340 Dunedin, FL	1.0	1.0	550	$1,695	$3.08	25d	1	1.06mi
405 Locklie St Unit 4055A Dunedin, FL	2.0	1.0	750	$1,695	$2.26	5d	1	1.12mi
1420 Oak Hill Dr #104 Dunedin, FL	1.0	1.0	610	$1,600	$2.62	25d	1	1.16mi
541 Roanoke St Dunedin, FL	2.0	2.0	912	$2,345	$2.57	14d	1	1.23mi

HOA detail condo

• Monthly dues: $647 · $7,764/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-04-09
   status Pending
2. 2026-03-23
   listed $110,000 Active
3. 1996-12-16
   soldstatus $32,000
4. 1986-09-11
   soldstatus $32,000

ⓘ 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: $364 · $30/mo
• Projected year-2 tax: $913 · $76/mo
• Expected delta: +$549/yr (+$46/mo · 150.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,392
• − Mortgage interest: −$6,162
• − Property taxes: −$364
• − Insurance: −$550
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − HOA: −$7,764
• − Depreciation: −$3,200
• Taxable income: $1,610
• Est. tax owed @ 24.0%: −$386
• After-tax cash flow: $2,494/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 — Dunedin

• Score: 86/100
• State rank: #15
• US rank: #411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunedin, FL
• County: Pinellas County · 939,478 people
• City population: 38,171
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 38,171
• Household income: $74,078
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 1390.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Hispanic / Latino 6% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -515.66%
• Current HPI: 387.4694
• Rent YoY: ▲ 2.69%
• 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

+243.8% since first listed

4 events — show timeline

• 2026-04-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-23 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 1996-12-16 Sold (Public Records) $32,000 Public Records
• 1986-09-11 Sold (Public Records) $32,000 Public Records

Property tax history

-5.1%/yr

Latest (2025): $364 · +9.1% YoY. Source: county tax records.