4851 W Gandy Blvd Unit B2L10 · Tampa, FL 33611

$117,500

2 bd · 1.0 ba · 666 sqft · Condo public records · 358 Days on market

Built 1960 $319/mo HOA · 15% of rent

---

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 +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Homes of Regency Cove in South Tampa is a Gated Waterfront Community on the Shores of Tampa Bay. This golf cart friendly, 55+ resort style park has lots of amenities including: Heated Swimming Pool and Spa, Clubhouse with fitness center and pool tables, Social Hall for daily activities and dinners, Shuffleboard Courts, Bocce Ball Courts, Barbeque Grills, Covered Pavilions for Outdoor parties and events, Fire Pit with large seating area, Fishing dock and cleaning station, boat slips, RV and boat trailer parking area, kayak launch, and lots of sidewalks for walking along the bay to view the beautiful sunsets. This particular mobile home has been completely upgraded and renovated to include new sub-floors with insulation and moister barrier installed, waterproof wood-look vinyl plank flooring, Kitchen Cabinets, Stainless Steel appliances, Upgraded bathroom with new vanity, water closet and custom tiled shower, main bedroom and family room have vaulted ceilings, new air condition system, large carport and utility shed with washer and dryer.

Key facts

• Shuffleboard courts
• Bocce ball courts
• Heated swimming pool

Tags

• GATED WATERFRONT COMMUNITY
• HEATED SWIMMING POOL
• CLUBHOUSE WITH FITNESS CENTER
• SOCIAL HALL FOR ACTIVITIES
• SHUFFLEBOARD COURTS
• BOCCE BALL COURTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $118k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#142 in FL, #2,135 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools C-, crime D+.
• 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 flat; 423 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $812 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 358 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $118k implies a 194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 358 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.86% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.21%
• DSCR: 2.03
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.69% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.69×
• Total profit: $-10,177
• Equity at exit: $17,520

10-year hold

• IRR: -5.2%
• Equity multiple: 0.72×
• Total profit: $-9,195
• Equity at exit: $10,159

Cash invested: $32,900 (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 33611

• Rents YoY: 0.7%
• Active inventory: 423
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,181 high
• Mortgage (P&I): −$616
• Tax from tax record: −$103 /mo · $1,231/yr
• Insurance: −$49
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$319
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $210

Break-even live

Break-even rent $1,916

Max offer price $117,500

Occupancy floor 85%

Sensitivity live

Price	-10% $276	-5% $243	+0% $210	+5% $176	+10% $143
Rent	-10% $37	-5% $124	+0% $210	+5% $296	+10% $382
Rate	-1.0pp $269	-0.5pp $240	base $210	+0.5pp $179	+1.0pp $148

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: $29,375
• Closing costs: $3,525
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4851 W Gandy Blvd Unit B3L15 Tampa, FL	1.0	1.0	570	$1,200	$2.11	0d	1	0.04mi
4800 S West Shore Blvd Tampa, FL	1.0–2.0	1.0–2.0	801	$2,256	$2.82	0d	18	0.08mi
4922 W Gandy Blvd #102 Tampa, FL	1.0	1.0	595	$1,450	$2.44	13d	1	0.17mi
5000 Culbreath Key Way Tampa, FL	1.0–2.0	1.0–2.0	847	$2,995	$3.54	3d	3	0.18mi
5001 Bridge St Tampa, FL	2.0	1.0–2.0	913	$3,422	$3.75	0d	9	0.43mi
5320 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	865	$3,110	$3.60	0d	20	0.55mi
5127 W Tyson Ave Tampa, FL	3.0	1.0–2.5	1078	$4,469	$4.14	0d	28	0.64mi
5110 S Manhattan Ave Tampa, FL	1.0–3.0	1.0–2.0	997	$2,686	$2.69	0d	23	0.73mi
4003 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	690	$1,950	$2.82	0d	304	0.76mi
4002 S Manhattan Ave Tampa, FL	1.0	1.0	650	$1,549	$2.38	0d	3	0.97mi
5432 W Tyson Ave Tampa, FL	2.0	1.0–2.0	866	$3,673	$4.24	0d	49	1.01mi
5145 S Dale Mabry Hwy Tampa, FL	3.0	1.0–2.0	1057	$3,253	$3.08	0d	22	1.03mi
6207 S West Shore Blvd Tampa, FL	3.0	1.0–2.0	1076	$3,930	$3.65	0d	39	1.10mi
5055 S Dale Mabry Hwy Tampa, FL	2.0	1.0–2.0	797	$2,000	$2.51	4d	28	1.12mi
6301 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	687	$1,929	$2.81	0d	35	1.32mi

HOA detail condo

• Monthly dues: $319 · $3,828/yr
• Likely covers: waterpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-13
   statusdays on market $117,500 Pending 358 DOM
2. 2026-06-09
   days on market $117,500 Active 357 DOM
3. 2026-06-08
   days on market $117,500 Active 356 DOM
4. 2026-06-07
   days on market $117,500 Active 355 DOM
5. 2026-06-04
   days on market $117,500 Active 352 DOM
6. 2026-06-03
   days on market $117,500 Active 351 DOM
7. 2026-06-02
   days on market $117,500 Active 350 DOM
8. 2026-06-01
   days on market $117,500 Active 349 DOM
9. 2026-05-31
   days on market $117,500 Active 348 DOM
10. 2025-11-04
    price $117,500 1056-char remark

    Show marketing remark (1056 chars)

    The Homes of Regency Cove in South Tampa is a Gated Waterfront Community on the Shores of Tampa Bay. This golf cart friendly, 55+ resort style park has lots of amenities including: Heated Swimming Pool and Spa, Clubhouse with fitness center and pool tables, Social Hall for daily activities and dinners, Shuffleboard Courts, Bocce Ball Courts, Barbeque Grills, Covered Pavilions for Outdoor parties and events, Fire Pit with large seating area, Fishing dock and cleaning station, boat slips, RV and boat trailer parking area, kayak launch, and lots of sidewalks for walking along the bay to view the beautiful sunsets. This particular mobile home has been completely upgraded and renovated to include new sub-floors with insulation and moister barrier installed, waterproof wood-look vinyl plank flooring, Kitchen Cabinets, Stainless Steel appliances, Upgraded bathroom with new vanity, water closet and custom tiled shower, main bedroom and family room have vaulted ceilings, new air condition system, large carport and utility shed with washer and dryer.

11. 2025-06-17
    listed $122,500 Active 1056-char remark

    Show marketing remark (1056 chars)

    The Homes of Regency Cove in South Tampa is a Gated Waterfront Community on the Shores of Tampa Bay. This golf cart friendly, 55+ resort style park has lots of amenities including: Heated Swimming Pool and Spa, Clubhouse with fitness center and pool tables, Social Hall for daily activities and dinners, Shuffleboard Courts, Bocce Ball Courts, Barbeque Grills, Covered Pavilions for Outdoor parties and events, Fire Pit with large seating area, Fishing dock and cleaning station, boat slips, RV and boat trailer parking area, kayak launch, and lots of sidewalks for walking along the bay to view the beautiful sunsets. This particular mobile home has been completely upgraded and renovated to include new sub-floors with insulation and moister barrier installed, waterproof wood-look vinyl plank flooring, Kitchen Cabinets, Stainless Steel appliances, Upgraded bathroom with new vanity, water closet and custom tiled shower, main bedroom and family room have vaulted ceilings, new air condition system, large carport and utility shed with washer and dryer.

12. 2011-07-29
    soldstatus $40,000 1326-char remark

    Show marketing remark (1326 chars)

    * * NOT A SHORT SALE * * CAN CLOSE CASH SALE IN ONE WEEK * * Regency Cove- Beautiful Gated Waterfront Retirement Community in South Tampa. Not many homes available. This home is in great shape and interior has been renovated with a New Kitchen and Bathroom. New Kitchen Includes: New Wood Cabinets with faux "stone-look" counter tops, New sink and plumbing fixtures, New hot water heater, Updated appliances, Breakfast bar, Fresh paint. New Bathroom Includes: New ceramic tile shower for easy access with new plumbing fixtures, New ceramic tile floors, New vanity with sink, New toilet, Fresh paint. Home also has attached covered carport with separate utility/work shop with stackable washer and dryer, work bench and storage. The $150/Monthly fee covers: grounds maint. , garbage and water & sewer. This Retirement Community has something for everyone: relaxing by the pool, playing shuffle board, exercise room, card room, billiard room, club house where many special events are held weekly, waterfront picnic areas forwatching the sunset or just relaxing in the swings, boat slips, docks, fish cleaning stations and lots lots more!!! You won't find a better place to relax, retire and make great new friends. YOU JUST CAN'T BELIEVE IT UNTIL YOU SEE IT - ALL OF THIS AND MORE FOR UNDER $50,000!!! WOW !!!

13. 2011-07-13
    listed $49,000 1326-char remark

    Show marketing remark (1326 chars)

    * * NOT A SHORT SALE * * CAN CLOSE CASH SALE IN ONE WEEK * * Regency Cove- Beautiful Gated Waterfront Retirement Community in South Tampa. Not many homes available. This home is in great shape and interior has been renovated with a New Kitchen and Bathroom. New Kitchen Includes: New Wood Cabinets with faux "stone-look" counter tops, New sink and plumbing fixtures, New hot water heater, Updated appliances, Breakfast bar, Fresh paint. New Bathroom Includes: New ceramic tile shower for easy access with new plumbing fixtures, New ceramic tile floors, New vanity with sink, New toilet, Fresh paint. Home also has attached covered carport with separate utility/work shop with stackable washer and dryer, work bench and storage. The $150/Monthly fee covers: grounds maint. , garbage and water & sewer. This Retirement Community has something for everyone: relaxing by the pool, playing shuffle board, exercise room, card room, billiard room, club house where many special events are held weekly, waterfront picnic areas forwatching the sunset or just relaxing in the swings, boat slips, docks, fish cleaning stations and lots lots more!!! You won't find a better place to relax, retire and make great new friends. YOU JUST CAN'T BELIEVE IT UNTIL YOU SEE IT - ALL OF THIS AND MORE FOR UNDER $50,000!!! WOW !!!

ⓘ 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: $1,231 · $103/mo
• Projected year-2 tax: $1,231 · $103/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,172
• − Mortgage interest: −$6,582
• − Property taxes: −$1,231
• − Insurance: −$5,706
• − Repairs & maintenance: −$2,094
• − Management: −$2,094
• − HOA: −$3,828
• − Depreciation: −$3,418
• Taxable income: $1,219
• Est. tax owed @ 24.0%: −$293
• After-tax cash flow: $2,224/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 — Tampa

• Score: 79/100
• State rank: #142
• US rank: #2135

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tampa, FL
• County: Hillsborough County · 1,540,968 people
• City population: 523,346
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 36,810
• Household income: $90,910
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1761.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 14% Two or more races 12% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 4%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 12% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Vietnamese 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: ▼ -328.23%
• Current HPI: 374.7996
• Rent YoY: ▲ 0.69%
• 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

+139.8% since first listed

4 events — show timeline

• 2025-11-04 Price Changed $117,500 Stellar MLS as Distributed by MLS Grid
• 2025-06-17 Listed $122,500 Stellar MLS as Distributed by MLS Grid
• 2011-07-29 Sold (MLS) $40,000 Stellar MLS as Distributed by MLS Grid
• 2011-07-13 Listed $49,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2025): $1,231 · +5.7% YoY. Source: county tax records.