12141 Spartan Way #102 · Bayonet Point, FL 34667

$145,000

2 bd · 2.0 ba · 1,103 sqft · Condo public records · 114 Days on market

Built 1987 $370/mo HOA · 22% of rent

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Why this score? — see what drove the D 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 +12.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +4.3/10.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Short Sale Hurry to buy this well priced two bedroom two bath condo with carport in well kept over 55 community! Close to shopping and bus lines. Heated community pool, shuffleboard with reasonable dues. Hurry!!

Key facts

• Shuffleboard courts
• Clubhouse
• Community pool

Tags

• COMMUNITY POOL
• CLUBHOUSE
• SHUFFLEBOARD COURTS
• GRILL AREAS
• DOG WALKING AREA
• LOW HOA FEE

Property features AI

Finance

• Other: Directions: From State Road 52 turn north on Majestic Blvd. Turn left on Cobble Stone Drive. Turn left on Spartan Way. Turn left on Spartan Way. Property is on the right.
• Financial info: Total annual fees approximately $4,440; Lease restrictions apply
• HOA & community: HOA required (Hillside Condominium Association); Monthly condo fee: $370; Association fees include cable TV, pool, escrow reserves, structure and grounds maintenance, management, recreational facilities, sewer, trash and water; Association approval required; Community amenities: clubhouse, pool, dog park, sidewalks, street lights, association-owned recreation; Buyer approval required; Pets allowed with size/weight restrictions (max ~30 lbs)

Exterior

• Parking: Assigned covered parking; Guest parking available; 1-car carport
• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected; Water connected; Underground utilities
• Home design: Residential condominium; One level living within a 2-story building; Unit faces southeast
• Construction: Block, concrete and stucco construction; Shingle roof; Slab foundation; Built as part of a multi-family condominium building
• Exterior features: Rain gutters; Sidewalks; Sliding doors; Storage

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms (unit on 2nd floor)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room/dining room combo; Split bedroom floor plan; Walk-in closets
• Laundry & utility: Inside laundry in a closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $-20 ($-240/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (2.4% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#485 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities D+, commute F.
• Pasco (suburban): math 50% / reading 52% proficiency, ranked #32 of 73 in FL (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hudson Academy (math 35% / reading 30%, grade F, #443 of 571 statewide, top 78%, 964 students, 80% FRL); Fivay High School (math 20% / reading 28%, grade F, #529 of 667 statewide, top 80%, 1,610 students, 78% FRL) — zoned schools average 79% FRL vs 48% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 51% district-wide (-23 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.3%/yr); 800 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• This rent runs 39% of the median local income ($51k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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 $43k; list at $145k implies a 238% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,950 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 1.16% ✓
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• GRM: 7.2

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: -21.7%
• Equity multiple: 0.27×
• Total profit: $-29,448
• Equity at exit: $21,620

10-year hold

• IRR: -30.4%
• Equity multiple: -0.12×
• Total profit: $-45,320
• Equity at exit: $12,537

Cash invested: $40,600 (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 34667

• Rents YoY: -2.3%
• Active inventory: 800
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,678 high
• Mortgage (P&I): −$760
• Tax from tax record: −$154 /mo · $1,853/yr
• Insurance: −$60
• HOA: −$370
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-20

Break-even live

Break-even rent $1,703

Max offer price $141,472

Occupancy floor 96%

Sensitivity live

Price	-10% $62	-5% $21	+0% $-20	+5% $-61	+10% $-102
Rent	-10% $-152	-5% $-86	+0% $-20	+5% $46	+10% $113
Rate	-1.0pp $53	-0.5pp $17	base $-20	+0.5pp $-58	+1.0pp $-96

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	26d	1	0.11mi
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	19d	1	0.11mi
12027 Hoosier Ct #203 Hudson, FL	2.0	2.0	1103	$1,550	$1.41	26d	1	0.15mi
7616 Danube Dr Hudson, FL	2.0	2.0	1125	$1,350	$1.20	26d	1	0.22mi
7602 Danube Dr Unit 7602 Hudson, FL	2.0	2.0	1125	$1,600	$1.42	26d	1	0.23mi
7924 Halsey Dr Port Richey, FL	3.0	2.0	1272	$1,800	$1.42	7d	1	0.42mi
7924 Halsey Dr Port Richey, FL	3.0	2.0	1272	$1,800	$1.42	23d	1	0.42mi
12200 Hudson Ridge Dr Port Richey, FL	2.0–3.0	2.0	1107	$1,468	$1.33	4d	10	0.43mi
11630 Paige Dr Port Richey, FL	3.0	1.0	1152	$1,680	$1.46	14d	1	0.54mi
7433 Greystone Dr #7433 Hudson, FL	2.0	2.0	1029	$1,300	$1.26	19d	1	0.56mi
11610 Meadow Dr Port Richey, FL	2.0	2.0	1128	$1,570	$1.39	14d	1	0.56mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	26d	1	0.56mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	13d	1	0.56mi
7539 Gulf Highlands Dr Port Richey, FL	2.0	1.5	936	$1,550	$1.66	7d	1	0.58mi
8304 Mill Creek Ln Hudson, FL	2.0	2.0	1000	$1,650	$1.65	26d	1	0.60mi
7715 Sue Ellen Dr Port Richey, FL	2.0	2.0	1080	$1,495	$1.38	5d	1	0.61mi
8312 Mill Creek Ln Hudson, FL	2.0	2.0	1152	$1,600	$1.39	1d	1	0.64mi
8312 Mill Creek Ln Hudson, FL	2.0	2.0	1152	$1,600	$1.39	26d	1	0.64mi
7608 Sue Ellen Dr Port Richey, FL	3.0	2.0	1310	$2,400	$1.83	26d	1	0.66mi
7804 Topay Ln Port Richey, FL	3.0	2.0	1125	$1,795	$1.60	1d	1	0.67mi
12702 Social Dr Hudson, FL	2.0	1.0	1032	$1,500	$1.45	7d	1	0.70mi
12809 College Hill Dr Hudson, FL	3.0	2.0	1114	$1,780	$1.60	7d	1	0.75mi
7530 Judith Cres Port Richey, FL	2.0	2.0	1446	$1,695	$1.17	22d	1	0.76mi
7530 Judith Cres Port Richey, FL	2.0	2.0	1446	$2,200	$1.52	26d	1	0.76mi
7520 Hawthorn Dr Unit NA Port Richey, FL	2.0	2.0	1303	$1,900	$1.46	26d	1	0.84mi
7520 Hawthorn Dr Port Richey, FL	2.0	2.0	1303	$1,800	$1.38	25d	1	0.84mi
7531 Greybirch Ter Port Richey, FL	3.0	2.0	1400	$2,000	$1.43	26d	1	0.85mi
7300 Country Club Dr Hudson, FL	2.0	1.0	926	$1,400	$1.51	4d	1	0.86mi
11241 Yewtree Ave Port Richey, FL	3.0	2.0	1306	$1,950	$1.49	25d	1	0.89mi
8161 Braddock Cir #1 Port Richey, FL	2.0	2.0	1000	$1,595	$1.59	19d	1	0.90mi
11635 Salmon Dr Port Richey, FL	2.0	1.5	816	$1,500	$1.84	26d	1	0.91mi
8305 Sandwedge Cir Unit A Hudson, FL	2.0	2.0	1144	$1,450	$1.27	23d	1	0.97mi
11138 Yellowwood Ln Unit NA Port Richey, FL	3.0	1.0	1000	$1,800	$1.80	26d	1	1.00mi
7540 Venice Dr Port Richey, FL	3.0	2.0	1394	$1,775	$1.27	7d	1	1.03mi
7724 Tyson Dr Port Richey, FL	2.0	2.0	1200	$1,550	$1.29	1d	1	1.05mi
7705 Ilex Dr Port Richey, FL	3.0	2.0	1349	$2,000	$1.48	26d	1	1.06mi
12221 Holbrook Dr Bayonet Point, FL	1.0–2.0	1.0–2.0	761	$1,685	$2.21	0d	55	1.07mi
7213 Seward Dr Port Richey, FL	2.0	1.0	700	$1,500	$2.14	26d	1	1.16mi
11103 Harding Dr Unit 2 Port Richey, FL	2.0	1.0	760	$1,450	$1.91	22d	1	1.18mi
12535 3rd Isle Hudson, FL	2.0	2.0	1389	$2,600	$1.87	26d	1	1.28mi

HOA detail condo

• Monthly dues: $370 · $4,440/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $145,000 Active 114 DOM
2. 2026-06-17
   days on market $145,000 Active 113 DOM
3. 2026-06-16
   days on market $145,000 Active 112 DOM
4. 2026-06-15
   days on market $145,000 Active 111 DOM
5. 2026-06-13
   days on market $145,000 Active 109 DOM
6. 2026-06-09
   days on market $145,000 Active 105 DOM
7. 2026-06-08
   days on market $145,000 Active 104 DOM
8. 2026-06-07
   days on market $145,000 Active 103 DOM
9. 2026-06-04
   days on market $145,000 Active 100 DOM
10. 2026-06-03
    days on market $145,000 Active 99 DOM
11. 2026-06-02
    days on market $145,000 Active 98 DOM
12. 2026-06-01
    days on market $145,000 Active 97 DOM
13. 2026-05-31
    days on market $145,000 Active 96 DOM
14. 2026-04-20
    price $145,000
15. 2026-02-24
    listed $150,000 Active
16. 2025-12-17
    historical
17. 2025-11-12
    status Active
18. 2025-11-05
    status Pending
19. 2025-09-10
    price $150,000
20. 2025-06-24
    listed $155,000 Active
21. 2014-09-30
    soldstatus $42,900
22. 2014-09-26
    soldstatus $42,900 Sold 213-char remark

    Show marketing remark (213 chars)

    Short Sale Hurry to buy this well priced two bedroom two bath condo with carport in well kept over 55 community! Close to shopping and bus lines. Heated community pool, shuffleboard with reasonable dues. Hurry!!

23. 2014-08-27
    status Pending 213-char remark

    Show marketing remark (213 chars)

    Short Sale Hurry to buy this well priced two bedroom two bath condo with carport in well kept over 55 community! Close to shopping and bus lines. Heated community pool, shuffleboard with reasonable dues. Hurry!!

24. 2014-07-27
    historical Active with Contract 213-char remark

    Show marketing remark (213 chars)

    Short Sale Hurry to buy this well priced two bedroom two bath condo with carport in well kept over 55 community! Close to shopping and bus lines. Heated community pool, shuffleboard with reasonable dues. Hurry!!

25. 2014-07-16
    price $42,900 Active 213-char remark

    Show marketing remark (213 chars)

    Short Sale Hurry to buy this well priced two bedroom two bath condo with carport in well kept over 55 community! Close to shopping and bus lines. Heated community pool, shuffleboard with reasonable dues. Hurry!!

26. 2014-07-16
    status Active 213-char remark

    Show marketing remark (213 chars)

    Short Sale Hurry to buy this well priced two bedroom two bath condo with carport in well kept over 55 community! Close to shopping and bus lines. Heated community pool, shuffleboard with reasonable dues. Hurry!!

27. 2014-07-11
    historical Active with Contract 213-char remark

    Show marketing remark (213 chars)

    Short Sale Hurry to buy this well priced two bedroom two bath condo with carport in well kept over 55 community! Close to shopping and bus lines. Heated community pool, shuffleboard with reasonable dues. Hurry!!

28. 2014-06-26
    listed $34,900 Active 213-char remark

    Show marketing remark (213 chars)

    Short Sale Hurry to buy this well priced two bedroom two bath condo with carport in well kept over 55 community! Close to shopping and bus lines. Heated community pool, shuffleboard with reasonable dues. Hurry!!

ⓘ 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: $1,853 · $154/mo
• Projected year-2 tax: $1,853 · $154/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥114°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,131
• − Mortgage interest: −$8,122
• − Property taxes: −$1,853
• − Insurance: −$725
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − HOA: −$4,440
• − Depreciation: −$4,218
• Taxable loss: −$2,449
• Est. tax savings @ 24.0%: +$588
• After-tax cash flow: $348/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: Pasco
• NCES district ID: 1201530
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 52% ▼ -5.00%
• Median HH income: $45,039
• Composite: 43.14/100
• National rank: #3074
• State rank: #32 of 73 in FL

Livability — Bayonet Point

• Score: 69/100
• State rank: #485
• US rank: #8934

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bayonet Point, FL
• County: Pasco County · 524,098 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 30,689
• Household income: $51,280
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 946.0

Population outlook (Pasco County) Hauer SSP2

• Today (2025): 570,045 people
• By 2030: 605,844 · +6.3%
• By 2040: 674,806 · +18.4%
• By 2050: 736,022 · +29.1%
• By 2075: 862,900 · +51.4%
• By 2100: 906,364 · +59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 7% · Canada, Jamaica, Vietnam
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 0%

Political lean MEDSL · Pasco

• 2024 margin: Strong R (+25.2) · D 36.9% · R 62.1% · Other 1.0%
• 2008→2024 swing: -21.6pp toward R · 2008: -3.6pp · 2024: -25.2pp
• All cycles: 2024: R+25.2 2020: R+20.1 2016: R+21.6 2012: R+6.7 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -183.96%
• Current HPI: 307.5552
• Rent YoY: ▼ -2.26%
• 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

+315.5% since first listed

15 events — show timeline

• 2026-04-20 Price Changed $145,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-24 Listed $150,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-17 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-12 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-11-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-09-10 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-24 Listed $155,000 Stellar MLS as Distributed by MLS Grid
• 2014-09-30 Sold (Public Records) $42,900 Public Records
• 2014-09-26 Sold (MLS) $42,900 Stellar MLS as Distributed by MLS Grid
• 2014-08-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2014-07-27 Contingent — Stellar MLS as Distributed by MLS Grid
• 2014-07-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2014-07-16 Price Changed $42,900 Stellar MLS as Distributed by MLS Grid
• 2014-07-11 Contingent — Stellar MLS as Distributed by MLS Grid
• 2014-06-26 Listed $34,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+15.8%/yr

Latest (2025): $1,853 · +3.5% YoY. Source: county tax records.