605 Queen Palm St · Largo, FL 33778

$78,000

2 bd · 2.0 ba · 912 sqft · Manufactured public records · 52 Days on market

Built 1977 Est $74k · 6% over $595/mo HOA · 31% of rent ↓ 4% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.0/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the lifestyle waiting for you at Palm Hill Country Club, a welcoming 55+ community where comfort, recreation, and connection come together. Homebuyers are drawn to this community for its impressive range of amenities and the friendly atmosphere residents enjoy every day. The monthly maintenance fee of $595.00 includes water, sewer, garbage, lawn care, cable, and internet, making day-to-day living simple and predictable. Residents enjoy access to a wide variety of activities and facilities, including a 9-hole golf course, swimming pools, relaxing jacuzzis, spacious clubhouses, tennis courts, shuffleboard, billiards, a horseshoe pit, and a pickleball court. Now available is a well-lo

Key facts

• 9 hole golf course
• Swimming pools
• Spacious clubhouses

Tags

• 9 HOLE GOLF COURSE
• SWIMMING POOLS
• RELAXING JACUZZIS
• SPACIOUS CLUBHOUSES
• TENNIS COURTS
• SHUFFLEBOARD

Property features AI

Finance

• Other: Furnished; Lease/restrictions apply
• Financial info: Total monthly HOA amount $595 (monthly); Total annual fees listed as $7,140
• HOA & community: Has HOA (monthly fee $595); Association approval required; Association amenities include clubhouse, pool, spa/hot tub, tennis courts, pickleball courts, shuffleboard, golf course and golf, recreation facilities, laundry, cable TV; Association fee covers cable TV, pool, internet, maintenance of grounds, management, recreational facilities, sewer, trash and water; Senior community; Pets not allowed; Buyer approval required; Community features include sidewalks, community mailbox, and golf carts OK

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Private sewer; Electricity connected; Cable available; Broadband/high-speed internet available; Sewer and water available/connected
• Home design: Manufactured double-wide home; One story; Faces north; Crawlspace foundation
• Construction: Vinyl siding; Roof over
• Exterior features: Screened patio/porch; Sidewalk; Sliding doors; Landscaped lot with trees; Paved surfaces

Interior

• Kitchen: Range; Range hood; Refrigerator; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heat; Central air conditioning
• Interior features: Built-in features; Eat-in kitchen; Open floorplan with living/dining room combo; Thermostat; Walk-in closet(s); Window treatments; Aluminum window frames; Shutters
• Laundry & utility: Washer; Dryer; Electric water heater; Laundry hookups / facilities

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $78k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Recommended offer: $76k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 4.2% in Largo — 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 82/100 on livability (#82 in FL, #1,240 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, amenities 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 rising (+1.4%/yr); 139 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 35% of the median local income ($65k/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 $539 of loan paydown is wiped out by about $2k 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 + 1.4% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($76k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,660 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 2.45% ✓
• Cap rate: 12.09%
• Cash-on-cash: 20.71%
• DSCR: 1.92
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $73,872
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 Royal Palm Cir	0.28mi	2/2.0	912 (0%)	0mo	$72,000	$79	87
574 Queen Palm St	0.19mi	2/2.0	948 (+4%)	1mo	$109,500	$116	83
309 Sago Palm St	0.10mi	2/2.0	952 (+4%)	6mo	$65,000	$68	83
724 Sugar Palm St	0.21mi	2/2.0	948 (+4%)	9mo	$47,500	$50	76
624 Queen Palm St	0.19mi	2/2.0	945 (+4%)	12mo	$150,000	$159	75
266 Sago Palm St	0.15mi	2/2.0	952 (+4%)	19mo	$77,000	$81	70
79 Thatch Palm St W	0.41mi	2/2.0	944 (+4%)	12mo	$65,000	$69	65
19 Pindo Palm St W	0.70mi	2/1.5	912 (0%)	1mo	$40,000	$44	65
135 Royal Palm Cir	0.14mi	2/2.0	1,008 (+10%)	14mo	$149,000	$148	64
38 Pindo Palm St E	0.39mi	2/2.0	864 (-5%)	19mo	$135,000	$156	57
13 Frangipani Cir	0.64mi	2/2.0	864 (-5%)	11mo	$75,000	$87	52
21 Frangipani Cir	0.63mi	2/2.0	785 (-14%)	9mo	$49,000	$62	40

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 · 1.38% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.40×
• Total profit: $8,698
• Equity at exit: $11,630

10-year hold

• IRR: 17.4%
• Equity multiple: 2.28×
• Total profit: $27,907
• Equity at exit: $6,744

Cash invested: $21,840 (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 33778

• Rents YoY: 1.4%
• Active inventory: 139
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,913 high
• Mortgage (P&I): −$409
• Tax est. 1.5%: −$98 /mo · $1,170/yr
• Insurance: −$32
• HOA: −$595
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $377

Break-even live

Break-even rent $1,435

Max offer price $78,000

Occupancy floor 75%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
253 Sago Palm St Largo, FL	2.0	2.0	1000	$1,295	$1.29	24d	1	0.09mi
2098 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1018	$2,395	$2.35	2d	23	0.19mi
2131 Ridge Rd S #105 Largo, FL	2.0	1.5	1035	$1,850	$1.79	24d	1	0.22mi
775 Royal Palm Cir Largo, FL	2.0	2.0	1008	$1,700	$1.69	3d	1	0.23mi
1201 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1067	$1,870	$1.75	1d	1	0.39mi
13333 Ridge Rd Largo, FL	1.0–2.0	1.0–1.5	860	$1,765	$2.05	7d	1	0.62mi
910 9th Ave SW Largo, FL	3.0	2.0	1120	$2,100	$1.88	3d	1	0.83mi
705 Redbud LN Largo, FL	1.0–2.0	1.0–2.0	986	$2,615	$2.65	1d	189	0.85mi
1448 Oak St Largo, FL	2.0	2.0	1070	$2,300	$2.15	3d	1	0.87mi
1517 16th Cir SE Largo, FL	1.0	1.0	625	$1,250	$2.00	3d	1	0.93mi
12651 Seminole Blvd #44 Largo, FL	2.0	1.5	1000	$1,450	$1.45	24d	1	0.95mi
157 2nd Ave SW Unit A Largo, FL	2.0	1.0	678	$1,600	$2.36	24d	1	0.99mi
11960 133rd Ave Largo, FL	3.0	1.0	936	$2,150	$2.30	7d	1	1.04mi
1825 134th Ave Largo, FL	3.0	2.0	1005	$2,200	$2.19	24d	1	1.08mi
11666 126th Ter Largo, FL	3.0	1.0	1056	$2,183	$2.07	24d	1	1.09mi
13001 120th St Largo, FL	3.0	1.0	1044	$1,950	$1.87	7d	1	1.10mi
11201 122nd Ave Largo, FL	1.0–2.0	1.0–2.0	867	$2,300	$2.65	4d	2	1.11mi
911 Washington Ave #212 Largo, FL	2.0	2.0	885	$1,675	$1.89	4d	1	1.12mi
12100 Seminole Blvd Largo, FL	2.0	2.0	1050	$1,750	$1.67	24d	1	1.24mi
417 Woodrow Ave Largo, FL	1.0	1.0	650	$1,175	$1.81	17d	1	1.33mi
2272 16th Ave SW Unit C Largo, FL	2.0	1.0	1031	$2,600	$2.52	24d	1	1.33mi
264 Ridge Rd N Largo, FL	3.0	1.5	981	$2,400	$2.45	24d	1	1.36mi
1741 Trotter Rd Unit A Largo, FL	2.0	1.0	800	$1,350	$1.69	24d	1	1.38mi
1100 East Bay Dr #104 Largo, FL	2.0	2.0	840	$1,950	$2.32	3d	1	1.42mi
705 3rd Ave NE Unit C Largo, FL	3.0	2.0	1113	$2,195	$1.97	3d	1	1.43mi
605 4th Ave NW Largo, FL	1.0–2.0	1.0–2.0	1032	$2,350	$2.28	3d	6	1.43mi
1320 1st Ave NW Largo, FL	2.0	1.0	1100	$2,100	$1.91	24d	1	1.47mi
428 4th St NW Largo, FL	2.0	1.0	850	$1,900	$2.24	24d	1	1.47mi
10155 Sailwinds Blvd S #204 Largo, FL	2.0	2.0	1018	$1,750	$1.72	2d	1	1.48mi
423 4th St NW Largo, FL	3.0	1.0	960	$1,500	$1.56	4d	1	1.48mi
1500 West Bay Dr Largo, FL	2.0	1.0	740	$1,595	$2.16	14d	1	1.49mi
10160 Sailwinds Blvd S Largo, FL	2.0	2.0	901	$1,950	$2.16	24d	2	1.49mi

HOA detail

• Monthly dues: $595 · $7,140/yr
• Likely covers: watersewertrashinternetcablelandscapingpool

Listing history 4 events

1. 2026-05-06
   status Pending
2. 2026-04-12
   price $78,000
3. 2026-03-14
   listed $83,000 Active
4. 2020-04-15
   soldstatus $81,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥108°F today · 18 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: $22,952
• − Mortgage interest: −$4,369
• − Property taxes: −$1,170
• − Insurance: −$390
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − HOA: −$7,140
• − Depreciation: −$2,269
• Taxable income: $3,942
• Est. tax owed @ 24.0%: −$946
• After-tax cash flow: $3,578/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 — Largo

• Score: 82/100
• State rank: #82
• US rank: #1240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Largo, FL
• County: Pinellas County · 939,478 people
• City population: 106,311
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 16,807
• Household income: $65,355
• Rent vs Own: 17.1% rent · 82.9% own
• Severe rent burden: 261.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 11% Black 9% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Cuban 6%
• Common ancestry: Romanian 3% Italian 3% Lithuanian 3%
• Foreign-born: 13% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 10% Vietnamese 1% 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: ▼ -320.64%
• Current HPI: 369.3008
• Rent YoY: ▲ 1.38%
• 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

-3.7% since first listed

4 events — show timeline

• 2026-05-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-12 Price Changed $78,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-14 Listed $83,000 Stellar MLS as Distributed by MLS Grid
• 2020-04-15 Sold (Public Records) $81,000 Public Records

Property tax history

-17.9%/yr

Latest (2025): $49 · +58.6% YoY. Source: county tax records.