4600 98th Way N #210 · Seminole, FL 33708

$139,900

2 bd · 2.0 ba · 1,050 sqft · Condo public records · 89 Days on market

Built 1980 $637/mo HOA · 29% 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 +18.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Livability +4.4/5.0
• Schools +4.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

BEAUTIFUL BAY PINES CORNER UNIT. HURRICANE RATED WINDOWS, THE ROOF IS APROXIMATLEY 2 MONTHS OLD. CARPORT. D29 IS STEPS AWAY FROM THE UNIT, PETS ALLOWED. THE UNIT HAS 2 BEDROOMS AND 2 FULL BATHROOMS. BAMBOO FLOORING THRUOUT, THERE IS A LAUNDRY ROOM WITH STACKABLE WASHER AND DRYER INCLUDED, VERY OPEN FLOOR PLAN. 3 WALKIN CLOSETS BOTH BEDROOM AND ONE IN THE HALLWAY. SO MUCH STORAGE. THE KITCHEN AND BATHS HAVE ALL BEEN REMODELED AND ARE BEAUTIFUL. THE LOCATION IS AMAZING, THE VA HOSPITAL IS DIRECTLEY ACROSS THE STREET, THE SANDY GULF BEACHES ARE LESS THAN 2 MILES AWAY. A 5 MINUITE DRIVE, WITHIN A QUARTER MILE YOU HAVE RESTARAUNTS, WALMART, NAIL SALON, STARBUCKS, JIMMY JOHN SUBS. DUNKIN DONUTS.

Key facts

• Clubhouse and pool
• Laundry room
• Remodeled kitchen

Tags

• HURRICANE RATED WINDOWS
• LAUNDRY ROOM
• BAMBOO FLOORING
• REMODELED KITCHEN
• REMODELED BATHS
• CLUBHOUSE AND POOL

Property features AI

Finance

• Other: Directions: Bay Pines Blvd to 98th Way N; very first driveway on the west side is building D
• Financial info: Total annual association fees approximately $7,644; Lease restrictions apply
• HOA & community: Monthly HOA fee of $637 covering cable TV, common area taxes, pool, insurance, internet, structure and grounds maintenance, management, recreational facilities, sewer, trash and water; Association approval required; Community amenities include owned association recreation, sidewalks and street lights; Senior community; Pets allowed (dogs only, weight limit 25 lbs, number/size limits apply); Association name: PHILLIP DVORAK

Exterior

• Parking: Carport with 1 space
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Internet available
• Home design: Condominium; One level; Faces east; Second-floor unit (floor 2)
• Construction: Block construction; Built-up roof; Slab foundation
• Exterior features: Asphalt road access; Condo land included

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Bamboo flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open living/dining area; Walk-in closet(s)
• Laundry & utility: Washer inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.7% in Seminole — 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 88/100 on livability (#5 in FL, #174 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• 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 (-1.8%/yr); 571 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 32% of the median local income ($82k/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 $967 of loan paydown is wiped out by about $4k 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 89 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $51k; list at $140k implies a 174% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: major flood risk; 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 $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. 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 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?
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 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: 1.57% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.48×
• Total profit: $-20,182
• Equity at exit: $20,860

10-year hold

• IRR: -17.9%
• Equity multiple: 0.24×
• Total profit: $-29,802
• Equity at exit: $12,096

Cash invested: $39,172 (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 33708

• Rents YoY: -1.8%
• Active inventory: 571
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,199 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$637
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $134

Break-even live

Break-even rent $2,030

Max offer price $139,900

Occupancy floor 89%

Sensitivity live

Price	-10% $230	-5% $182	+0% $134	+5% $85	+10% $37
Rent	-10% $-40	-5% $47	+0% $134	+5% $220	+10% $307
Rate	-1.0pp $204	-0.5pp $169	base $134	+0.5pp $97	+1.0pp $60

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9940 47th Ave N #320 Saint Petersburg, FL	2.0	1.0	900	$1,575	$1.75	25d	1	0.06mi
4771 100th Way N Unit 101 St. Petersburg, FL	2.0	1.0	800	$1,749	$2.19	19d	1	0.12mi
4917 99th St N Saint Petersburg, FL	3.0	2.0	1230	$3,500	$2.85	5d	1	0.12mi
9950 52nd Ter N Saint Petersburg, FL	2.0	1.0	1090	$2,200	$2.02	25d	1	0.32mi
5224 100th Way N Saint Petersburg, FL	2.0	1.0	930	$2,400	$2.58	5d	1	0.35mi
4652 Miramar Dr Madeira Beach, FL	1.0–2.0	1.0–2.0	958	$2,475	$2.58	3d	33	0.47mi
9071 47th Ave N St. Petersburg, FL	2.0	2.0	1100	$2,000	$1.82	25d	1	0.58mi
10532 51st Ter N Saint Petersburg, FL	2.0	1.0	1093	$1,800	$1.65	19d	1	0.61mi
10426 Valencia Rd Seminole, FL	3.0	2.0	1389	$2,900	$2.09	5d	1	0.84mi
9860 62nd Ter N #1048 Saint Petersburg, FL	2.0	2.0	1020	$1,750	$1.72	25d	1	0.95mi
9950 62nd Ter N #305 Saint Petersburg, FL	2.0	2.0	1120	$1,450	$1.29	25d	1	0.96mi
10038 62nd Ter N #17 Saint Petersburg, FL	2.0	1.0	1010	$1,400	$1.39	3d	1	0.98mi
6205 Shoreline Dr #1305 Saint Petersburg, FL	2.0	2.0	1205	$2,100	$1.74	5d	1	0.98mi
10037 62nd Ter N #15 Saint Petersburg, FL	2.0	1.0	790	$1,400	$1.77	19d	1	1.02mi
10037 62nd Ter St. Petersburg, FL	1.0	1.0	790	$1,500	$1.90	25d	1	1.02mi
10036 63rd Ave N #23 Saint Petersburg, FL	2.0	1.0	1010	$1,550	$1.53	17d	1	1.02mi
10172 63rd Ave Seminole, FL	3.0	2.0	1311	$3,500	$2.67	5d	1	1.05mi
10035 63rd Ave N #18 Saint Petersburg, FL	2.0	1.0	1010	$2,125	$2.10	25d	1	1.07mi
4565 Duhme Rd #110 Saint Petersburg, FL	2.0	1.0	780	$1,700	$2.18	25d	1	1.09mi
4550 Cove Cir #804 Saint Petersburg, FL	1.0	1.5	860	$1,750	$2.03	25d	1	1.12mi
10032 65th Ave N #24 Saint Petersburg, FL	2.0	2.0	1010	$1,650	$1.63	25d	1	1.12mi
562 Johns Pass Ave Madeira Beach, FL	3.0	2.0	1400	$5,250	$3.75	5d	1	1.13mi
4575 Cove Cir #703 Saint Petersburg, FL	2.0	2.0	1040	$2,200	$2.12	5d	1	1.14mi
4525 Cove Cir #304 Saint Petersburg, FL	1.0	1.5	815	$2,100	$2.58	23d	1	1.17mi
4525 Cove Cir #608 Saint Petersburg, FL	2.0	2.0	1060	$2,000	$1.89	15d	1	1.17mi
4650 Cove Cir #611 Saint Petersburg, FL	2.0	2.0	970	$2,500	$2.58	5d	1	1.19mi
4650 Cove Cir #402 Saint Petersburg, FL	2.0	2.0	970	$3,500	$3.61	25d	1	1.19mi
4775 Cove Cir #1102 Saint Petersburg, FL	2.0	2.0	1050	$1,700	$1.62	8d	1	1.25mi
4775 Cove Cir #508 Saint Petersburg, FL	2.0	2.0	1050	$2,000	$1.90	25d	1	1.25mi
4775 Cove Cir #1202 Saint Petersburg, FL	2.0	2.0	1050	$3,500	$3.33	25d	1	1.25mi
4775 Cove Cir #202 Saint Petersburg, FL	2.0	2.0	1050	$1,850	$1.76	25d	1	1.25mi
717 Sunset Cove Madeira Beach, FL	3.0	2.0	1305	$3,800	$2.91	25d	1	1.27mi
4725 Cove Cir #405 Saint Petersburg, FL	1.0	1.0	815	$1,750	$2.15	19d	1	1.29mi
1 Boca Ciega Point Blvd #115 Saint Petersburg, FL	2.0	2.0	920	$1,900	$2.07	3d	1	1.31mi
4750 Cove Cir #302 Saint Petersburg, FL	2.0	2.0	1040	$2,500	$2.40	25d	1	1.32mi
10530 68th Ave Seminole, FL	2.0	1.0	1000	$1,690	$1.69	5d	1	1.40mi
10405 Addison Way Seminole, FL	1.0–3.0	1.0–2.0	1133	$2,351	$2.08	3d	18	1.41mi
14183 E Parsley Dr Madeira Beach, FL	3.0	1.0	1060	$2,850	$2.69	5d	1	1.43mi
540 Normandy Rd Unit Na Madeira Beach, FL	1.0	1.0	750	$1,950	$2.60	8d	1	1.45mi
5257 81st Ln N #6 Saint Petersburg, FL	1.0	1.0	745	$1,375	$1.85	25d	1	1.48mi

HOA detail condo

• Monthly dues: $637 · $7,644/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $139,900 Active 89 DOM
2. 2026-06-17
   days on market $139,900 Active 88 DOM
3. 2026-06-16
   days on market $139,900 Active 87 DOM
4. 2026-06-15
   days on market $139,900 Active 86 DOM
5. 2026-06-13
   days on market $139,900 Active 84 DOM
6. 2026-06-09
   days on market $139,900 Active 80 DOM
7. 2026-06-08
   days on market $139,900 Active 79 DOM
8. 2026-06-07
   days on market $139,900 Active 78 DOM
9. 2026-06-04
   days on market $139,900 Active 75 DOM
10. 2026-06-03
    days on market $139,900 Active 74 DOM
11. 2026-06-01
    days on market $139,900 Active 72 DOM
12. 2026-05-31
    days on market $139,900 Active 71 DOM
13. 2026-05-16
    price $139,900
14. 2026-04-27
    price $149,900
15. 2026-03-21
    listed $159,900 Active
16. 1981-08-01
    soldstatus $51,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 61% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,391
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$2,111
• − Management: −$2,111
• − HOA: −$7,644
• − Depreciation: −$4,070
• Taxable loss: −$180
• Est. tax savings @ 24.0%: +$43
• After-tax cash flow: $1,646/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 — Seminole

• Score: 88/100
• State rank: #5
• US rank: #174

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seminole, FL
• County: Pinellas County · 939,478 people
• City population: 42,315
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 15,060
• Household income: $82,500
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 734.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Asian 4% Two or more races 4% Black 1%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 3%
• Foreign-born: 10% · Canada, Vietnam, Jamaica
• Languages at home: 89% English-only · Spanish 3% Vietnamese 2% Russian/Polish/Slavic 2%

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: ▼ -663.41%
• Current HPI: 317.0675
• Rent YoY: ▼ -1.77%
• 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

+174.3% since first listed

4 events — show timeline

• 2026-05-16 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-21 Listed $159,900 Stellar MLS as Distributed by MLS Grid
• 1981-08-01 Sold (Public Records) $51,000 Public Records

Property tax history

-6.9%/yr

Latest (2025): $266 · +33.0% YoY. Source: county tax records.