225 Country Club Dr #1209 · Largo, FL 33771

$199,900

2 bd · 2.0 ba · 1,440 sqft · Condo public records · 62 Days on market

Built 1975 $445/mo HOA · 22% of rent

---

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 +11.8/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

One or more photo(s) has been virtually staged. Don't miss this exceptional opportunity to own a this beautiful second-floor condo in Penthouse Greens- The Fairway, ideally located along Largo’s East Bay Golf Course. Tranquil Golf Course & Fountain views from the great room! This 2 bedroom, 2 bath Condo is light-filled and featured a great room floor plan. The kitchen is large with plenty of cabinetry and counter space with an adjacent dining area - perfect to accommodates guests with ease. The generous master suite serves as your private retreat, complete with an en-suite bath featuring dual sinks, shower/tub combo and large walk-in closet. Your guests will appreciate the priva

Key facts

• Second floor condo
• Large kitchen
• Private retreat

Tags

• SECOND FLOOR CONDO
• GOLF COURSE VIEWS
• GREAT ROOM FLOOR PLAN
• LARGE KITCHEN
• PRIVATE RETREAT
• EN SUITE BATH

Property features AI

Finance

• Other: Homestead exempt; Directions: South on US 19, West on East Bay Dr, Left on Country Club Dr to the end, Building F
• Financial info: Total annual fees $5,340; Lease restrictions apply
• HOA & community: HOA (Association name: Robert); Monthly condo fee $445; Association amenities include pool; Buyer approval required; Pets not allowed

Exterior

• Parking: Covered parking; Guest parking; 1-car carport
• Utilities: Public water; Public sewer; Electricity connected; Cable available
• Home design: Condominium; Residential property; One story; Faces northwest; Located on second floor of Building F
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Year built not provided
• Exterior features: Sidewalk; Storage structure

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Blinds; Shutters; Building has elevator; Great room; Inside utility / additional inside storage
• Laundry & utility: Washer; Dryer; Inside laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-54 ($-642/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (1.0% below list).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.0% 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.
• Zoned schools: Southern Oak Elementary School (math 63% / reading 49%, grade C+, #832 of 2,144 statewide, top 40%, 556 students, 61% FRL); Largo High School (math 30% / reading 50%, grade F, #296 of 667 statewide, top 45%, 2,055 students, 53% FRL).
• Market conditions: Rents soft (-1.1%/yr); 220 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 40% of the median local income ($60k/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 $6k 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 62 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $106k; list at $200k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $187,906 (6.0% 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 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.99% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• GRM: 8.4

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: -22.1%
• Equity multiple: 0.26×
• Total profit: $-41,426
• Equity at exit: $29,806

10-year hold

• IRR: -28.5%
• Equity multiple: -0.11×
• Total profit: $-62,164
• Equity at exit: $17,284

Cash invested: $55,972 (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 33771

• Home prices YoY: -30.2%
• Rents YoY: -1.1%
• Active inventory: 220
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,979 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$40 /mo · $480/yr
• Insurance: −$83
• HOA: −$445
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $-54

Break-even live

Break-even rent $2,046

Max offer price $190,442

Occupancy floor 98%

Sensitivity live

Price	-10% $60	-5% $3	+0% $-54	+5% $-110	+10% $-167
Rent	-10% $-210	-5% $-132	+0% $-54	+5% $25	+10% $103
Rate	-1.0pp $47	-0.5pp $-3	base $-54	+0.5pp $-105	+1.0pp $-158

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
225 Country Club Dr #1404 Largo, FL	2.0	2.0	1440	$1,700	$1.18	4d	1	0.02mi
2045 E Bay Dr Largo, FL	1.0–2.0	1.0–2.0	1114	$1,830	$1.64	2d	15	0.07mi
84 21st Ter SE Unit 1502691P Largo, FL	3.0	2.0	1291	$5,914	$4.58	8d	1	0.16mi
68 Country Club Dr Largo, FL	2.0	2.0	1396	$2,100	$1.50	25d	1	0.16mi
69 Country Club Dr Largo, FL	2.0	2.0	1278	$2,000	$1.56	25d	1	0.16mi
44 Countryclub Dr #44 Largo, FL	2.0	2.0	1278	$2,300	$1.80	25d	1	0.18mi
600 Starkey Rd Largo, FL	1.0–3.0	1.0–2.0	982	$1,774	$1.81	3d	21	0.21mi
9122 Jakes Path Largo, FL	3.0	2.5	1461	$2,600	$1.78	25d	1	0.26mi
200 Country Club Dr #1505 Largo, FL	3.0	2.0	1255	$1,980	$1.58	15d	1	0.27mi
2505 E Bay Dr Lot 77 Largo, FL	2.0	1.5	1080	$1,395	$1.29	21d	1	0.37mi
960 Starkey Rd #10305 Largo, FL	2.0	2.0	1324	$2,200	$1.66	15d	1	0.40mi
960 Starkey Rd #5105 Largo, FL	2.0	2.0	1324	$2,295	$1.73	25d	1	0.42mi
1200 Country Club Dr #3302 Largo, FL	2.0	2.0	1320	$2,200	$1.67	4d	1	0.43mi
1200 Country Club Dr #4102 Largo, FL	2.0	2.0	1324	$2,100	$1.59	4d	1	0.43mi
1200 Country Club Dr #6204 Largo, FL	3.0	2.0	1575	$2,600	$1.65	4d	1	0.43mi
1200 Country Club Dr #1502 Largo, FL	2.0	2.0	1320	$2,350	$1.78	4d	1	0.43mi
221 Lake Ave NE Largo, FL	1.0–2.0	1.0–2.0	1095	$2,160	$1.97	3d	11	0.45mi
960 Starkey Rd #8206 Largo, FL	3.0	2.0	1836	$2,700	$1.47	25d	1	0.46mi
960 Starkey Rd #8402 Largo, FL	2.0	2.0	1324	$2,200	$1.66	25d	1	0.48mi
101 Imperial Palm Dr Largo, FL	1.0–2.0	1.0–2.0	907	$1,810	$1.99	3d	35	0.48mi
636 Lake Palms Dr Unit Stylish Largo, FL	3.0	2.0	1000	$2,200	$2.20	25d	1	0.65mi
3022 Meadow Lake Ave Largo, FL	2.0	1.0	900	$1,450	$1.61	5d	1	0.69mi
3022 Meadow Lake Ave Largo, FL	2.0	1.0	900	$1,450	$1.61	11d	1	0.69mi
3135 Pine Tree Ave Unit A Largo, FL	2.0	1.0	923	$1,395	$1.51	22d	1	0.75mi
3135 Pine Tree Ave Largo, FL	2.0	1.0	923	$1,395	$1.51	11d	1	0.75mi
705 Redbud LN Largo, FL	1.0–2.0	1.0–2.0	986	$2,615	$2.65	2d	189	0.84mi
600 6th Ave SE Largo, FL	3.0	2.0	1364	$2,400	$1.76	25d	1	0.86mi
705 3rd Ave NE Unit C Largo, FL	3.0	2.0	1113	$2,195	$1.97	4d	1	0.88mi
3377 Sherwood Dr Unit A Largo, FL	2.0	1.0	1064	$1,650	$1.55	8d	1	0.93mi
1119 Breeze Dr Largo, FL	3.0	2.0	1314	$2,475	$1.88	25d	1	0.93mi
1700 Rosery Rd NE Largo, FL	2.0	2.0	1223	$2,300	$1.88	8d	1	0.95mi
779 34th St SE Unit 1319966P Largo, FL	2.0	1.0	990	$2,941	$2.97	8d	1	0.97mi
2871 S Pines Dr #24 Largo, FL	2.0	1.5	1048	$1,800	$1.72	25d	1	0.99mi
301 Seacrest Dr Largo, FL	1.0–2.0	1.0–1.5	975	$1,625	$1.67	22d	1	1.04mi
516 5th Ave NE Largo, FL	3.0	2.0	1057	$2,250	$2.13	24d	1	1.05mi
516 5th Ave NE Largo, FL	3.0	2.0	1073	$2,250	$2.10	15d	1	1.05mi
8775 Christie Dr Largo, FL	2.0	3.0	1300	$2,198	$1.69	18d	1	1.07mi
3030 Whispering Dr N Largo, FL	3.0	2.0	1348	$3,600	$2.67	25d	1	1.14mi
601 Rosery Rd NE Largo, FL	1.0–3.0	1.0–2.5	1192	$1,830	$1.54	2d	38	1.16mi
1845 S Highland Ave Clearwater, FL	2.0	2.0	904	$1,525	$1.69	3d	2	1.18mi

HOA detail condo

• Monthly dues: $445 · $5,340/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $199,900 Active 62 DOM
2. 2026-06-17
   days on market $199,900 Active 61 DOM
3. 2026-06-16
   days on market $199,900 Active 60 DOM
4. 2026-06-15
   days on market $199,900 Active 59 DOM
5. 2026-06-13
   days on market $199,900 Active 57 DOM
6. 2026-06-09
   days on market $199,900 Active 53 DOM
7. 2026-06-08
   days on market $199,900 Active 52 DOM
8. 2026-06-07
   days on market $199,900 Active 51 DOM
9. 2026-06-04
   days on market $199,900 Active 48 DOM
10. 2026-06-03
    days on market $199,900 Active 47 DOM
11. 2026-06-01
    days on market $199,900 Active 45 DOM
12. 2026-05-31
    days on market $199,900 Active 44 DOM
13. 2026-04-17
    listed $199,900 Active
14. 2004-02-16
    soldstatus $106,000

ⓘ 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: $480 · $40/mo
• Projected year-2 tax: $1,659 · $138/mo
• Expected delta: +$1,179/yr (+$98/mo · 245.8%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 24 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: $23,742
• − Mortgage interest: −$11,198
• − Property taxes: −$480
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,899
• − Management: −$1,899
• − HOA: −$5,340
• − Depreciation: −$5,815
• Taxable loss: −$3,889
• Est. tax savings @ 24.0%: +$933
• After-tax cash flow: $291/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): 27,596
• Household income: $59,993
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 1243.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica, Guatemala
• Languages at home: 82% English-only · Spanish 12% Other Indo-European 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: ▼ -135.36%
• Current HPI: 313.5044
• Rent YoY: ▼ -1.06%
• 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

+88.6% since first listed

2 events — show timeline

• 2026-04-17 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2004-02-16 Sold (Public Records) $106,000 Public Records

Property tax history

-6.4%/yr

Latest (2025): $480 · +5.8% YoY. Source: county tax records.