1105 Connecticut Rd · Tarpon Springs, FL 34689

$399,900

4 bd · 2.0 ba · 1,901 sqft · SingleFamily public records · 79 Days on market

Built 1961 6,930 sqft lot Est $540k · 26% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.3/30.0
• DSCR +4.3/10.0
• Schools +4.3/10.0
• 1% rule +3.5/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Recently Reduced * * * * Discover this great neighborhood and this 4-bedroom, 2-bath home in the heart of Tarpon Springs! Perfect for a family or anyone seeking a spacious retreat near the coast! Located just minutes from beautiful beaches like Fred Howard Park and Sunset Beach, and close to top-rated schools including Tarpon Springs Elementary, Middle, and High, this property offers unbeatable convenience. Brimming with potential, It is a fantastic opportunity to customize and create your dream space. Please note home will not qualify for traditional financing.

Key facts

• Renovated home
• Large paved patio
• Updated kitchen

Tags

• RENOVATED HOME
• UPDATED KITCHEN
• MODERNIZED BATHROOMS
• LARGE PAVED PATIO
• OVERSIZED BACKYARD
• SEPARATE UTILITY ROOM

Property features AI

Finance

• Financial info: No lease restrictions; Unfurnished
• HOA & community: No community amenities listed

Exterior

• Utilities: Public water; Public sewer; Electricity available
• Home design: Single family residence; One story; South-facing
• Construction: Concrete construction; Built-up roof; Slab foundation; Completed condition; Built on 0.16-acre lot (75x92)
• Exterior features: Storage; Wood fencing; Asphalt road access

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Kitchen and family room combo; Open floorplan; Solid wood cabinets; Stone counters
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $7 ($79/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $340k (15.0% below list).
• Recommended offer: $340k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.4% in Tarpon Springs — 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 68/100 on livability (#502 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: employment C-, amenities F, commute 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: Tarpon Springs Elementary School (math 57% / reading 41%, grade D, #1,134 of 2,144 statewide, top 54%, 506 students, 80% FRL); Tarpon Springs High School (math 30% / reading 47%, grade F, #321 of 667 statewide, top 49%, 1,139 students, 46% FRL).
• Market conditions: Rents soft (-1.2%/yr); 399 active listings in the ZIP; 9 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).
• At $3,400/mo this rent would consume 55% of the median local household income ($75k/yr) (locally 721% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 79 days — a 6% lower offer ($376k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $194k; list at $400k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $340,035 (15.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — 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. 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 A-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. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.78%
• DSCR: 1.03
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $539,884
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1016 Greenleaf Way	0.21mi	4/3.0	1,947 (+2%)	12mo	$399,900	$205	72
807 Cavemill Way	0.36mi	4/3.0	1,892 (-0%)	15mo	$500,000	$264	66
1160 Clippers Way	0.52mi	4/3.0	1,898 (-0%)	10mo	$549,000	$289	63
1222 Starboard Ky	0.43mi	4/3.0	2,007 (+6%)	12mo	$514,000	$256	57
441 Village Dr	0.65mi	4/2.0	2,027 (+7%)	3mo	$547,000	$270	56
1069 Captains Way	0.61mi	3/2.0 (-1)	1,919 (+1%)	11mo	$585,500	$305	56
1503 Tallahassee Dr	0.65mi	4/2.5	2,041 (+7%)	2mo	$690,000	$338	54
731 Waterside Ct	0.54mi	3/2.0 (-1)	2,048 (+8%)	5mo	$487,500	$238	53
970 Ridgewood Ter	0.74mi	3/2.0 (-1)	1,944 (+2%)	11mo	$625,000	$322	47
1072 Mainsail Dr	0.59mi	3/2.0 (-1)	2,057 (+8%)	13mo	$585,000	$284	43
1403 Tallahassee Dr	0.68mi	4/2.0	1,690 (-11%)	10mo	$420,000	$249	42
402 Village Dr	0.68mi	3/2.0 (-1)	1,677 (-12%)	3mo	$524,900	$313	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.34×
• Total profit: $-74,346
• Equity at exit: $59,626

10-year hold

• IRR: -20.0%
• Equity multiple: 0.08×
• Total profit: $-102,710
• Equity at exit: $34,576

Cash invested: $111,972 (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 34689

• Rents YoY: -1.2%
• Active inventory: 399
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,400 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$349 /mo · $4,194/yr
• Insurance: −$167
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$714
• Net cashflow: $7

Break-even live

Break-even rent $3,392

Max offer price $399,900

Occupancy floor 95%

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
787 Arthurs Ct Tarpon Springs, FL	3.0	2.0	1225	$2,295	$1.87	4d	1	0.20mi
1417 Poinsettia Ave Unit 1244469P Tarpon Springs, FL	4.0	3.0	2098	$6,739	$3.21	7d	1	0.85mi
1913 Whispering Way Tarpon Springs, FL	3.0	2.5	1564	$2,295	$1.47	4d	1	0.87mi
512 Wayfarer Dr Unit 1244468P Tarpon Springs, FL	3.0	2.0	2389	$6,324	$2.65	3d	1	1.11mi
610 Charlotte Ave Tarpon Springs, FL	4.0	2.5	1712	$2,710	$1.58	24d	1	1.17mi
723 Sunset Dr Tarpon Springs, FL	3.0	2.0	1374	$2,290	$1.67	12d	1	1.18mi
4857 Hummingbird Trl Palm Harbor, FL	3.0	2.5	2152	$4,000	$1.86	16d	1	1.33mi
1701 Avoca Dr Tarpon Springs, FL	3.0	2.0	1712	$3,000	$1.75	24d	1	1.40mi
1185 S Pinellas Ave Tarpon Springs, FL	1.0–3.0	1.0–2.0	1013	$2,735	$2.70	1d	21	1.44mi

Listing history 25 events

1. 2026-06-18
   days on market $399,900 Active 79 DOM
2. 2026-06-17
   days on market $399,900 Active 78 DOM
3. 2026-06-16
   days on market $399,900 Active 77 DOM
4. 2026-06-15
   days on market $399,900 Active 76 DOM
5. 2026-06-13
   days on market $399,900 Active 74 DOM
6. 2026-06-09
   days on market $399,900 Active 70 DOM
7. 2026-06-08
   days on market $399,900 Active 69 DOM
8. 2026-06-07
   days on market $399,900 Active 68 DOM
9. 2026-06-04
   days on market $399,900 Active 65 DOM
10. 2026-06-03
    days on market $399,900 Active 64 DOM
11. 2026-06-01
    days on market $399,900 Active 62 DOM
12. 2026-05-31
    days on market $399,900 Active 61 DOM
13. 2026-05-19
    price $399,900
14. 2026-04-27
    price $409,900
15. 2026-03-31
    listed $419,900 Active
16. 2025-09-30
    soldstatus $194,000
17. 2025-09-25
    soldstatus $194,000 Closed 572-char remark

    Show marketing remark (572 chars)

    Recently Reduced * * * * Discover this great neighborhood and this 4-bedroom, 2-bath home in the heart of Tarpon Springs! Perfect for a family or anyone seeking a spacious retreat near the coast! Located just minutes from beautiful beaches like Fred Howard Park and Sunset Beach, and close to top-rated schools including Tarpon Springs Elementary, Middle, and High, this property offers unbeatable convenience. Brimming with potential, It is a fantastic opportunity to customize and create your dream space. Please note home will not qualify for traditional financing.

18. 2025-08-25
    status Pending 572-char remark

    Show marketing remark (572 chars)

    Recently Reduced * * * * Discover this great neighborhood and this 4-bedroom, 2-bath home in the heart of Tarpon Springs! Perfect for a family or anyone seeking a spacious retreat near the coast! Located just minutes from beautiful beaches like Fred Howard Park and Sunset Beach, and close to top-rated schools including Tarpon Springs Elementary, Middle, and High, this property offers unbeatable convenience. Brimming with potential, It is a fantastic opportunity to customize and create your dream space. Please note home will not qualify for traditional financing.

19. 2025-07-30
    price $213,750 572-char remark

    Show marketing remark (572 chars)

    Recently Reduced * * * * Discover this great neighborhood and this 4-bedroom, 2-bath home in the heart of Tarpon Springs! Perfect for a family or anyone seeking a spacious retreat near the coast! Located just minutes from beautiful beaches like Fred Howard Park and Sunset Beach, and close to top-rated schools including Tarpon Springs Elementary, Middle, and High, this property offers unbeatable convenience. Brimming with potential, It is a fantastic opportunity to customize and create your dream space. Please note home will not qualify for traditional financing.

20. 2025-07-13
    price $225,900 572-char remark

    Show marketing remark (572 chars)

    Recently Reduced * * * * Discover this great neighborhood and this 4-bedroom, 2-bath home in the heart of Tarpon Springs! Perfect for a family or anyone seeking a spacious retreat near the coast! Located just minutes from beautiful beaches like Fred Howard Park and Sunset Beach, and close to top-rated schools including Tarpon Springs Elementary, Middle, and High, this property offers unbeatable convenience. Brimming with potential, It is a fantastic opportunity to customize and create your dream space. Please note home will not qualify for traditional financing.

21. 2025-05-07
    price $284,050 572-char remark

    Show marketing remark (572 chars)

    Recently Reduced * * * * Discover this great neighborhood and this 4-bedroom, 2-bath home in the heart of Tarpon Springs! Perfect for a family or anyone seeking a spacious retreat near the coast! Located just minutes from beautiful beaches like Fred Howard Park and Sunset Beach, and close to top-rated schools including Tarpon Springs Elementary, Middle, and High, this property offers unbeatable convenience. Brimming with potential, It is a fantastic opportunity to customize and create your dream space. Please note home will not qualify for traditional financing.

22. 2025-04-05
    listed $299,000 Active 572-char remark

    Show marketing remark (572 chars)

    Recently Reduced * * * * Discover this great neighborhood and this 4-bedroom, 2-bath home in the heart of Tarpon Springs! Perfect for a family or anyone seeking a spacious retreat near the coast! Located just minutes from beautiful beaches like Fred Howard Park and Sunset Beach, and close to top-rated schools including Tarpon Springs Elementary, Middle, and High, this property offers unbeatable convenience. Brimming with potential, It is a fantastic opportunity to customize and create your dream space. Please note home will not qualify for traditional financing.

23. 2019-01-30
    status Pending
24. 2019-01-30
    listed $185,000 Active
25. 2019-01-30
    historical

ⓘ 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: $4,194 · $349/mo
• Projected year-2 tax: $4,194 · $349/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 7/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,804
• − Mortgage interest: −$22,401
• − Property taxes: −$4,194
• − Insurance: −$2,797
• − Repairs & maintenance: −$3,264
• − Management: −$3,264
• − Depreciation: −$11,633
• Taxable loss: −$6,749
• Est. tax savings @ 24.0%: +$1,620
• After-tax cash flow: $1,699/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 — Tarpon Springs

• Score: 68/100
• State rank: #502
• US rank: #9244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tarpon Springs, FL
• County: Pinellas County · 939,478 people
• City population: 27,324
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,324
• Household income: $74,854
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 721.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 7% Black 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica, Dominican Republic
• Languages at home: 84% English-only · Other Indo-European 6% Spanish 6% 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: ▼ -300.96%
• Current HPI: 303.7434
• Rent YoY: ▼ -1.16%
• 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

+116.2% since first listed

13 events — show timeline

• 2026-05-19 Price Changed $399,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $409,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-31 Listed $419,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-30 Sold (Public Records) $194,000 Public Records
• 2025-09-25 Sold (MLS) $194,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-07-30 Price Changed $213,750 Stellar MLS as Distributed by MLS Grid
• 2025-07-13 Price Changed $225,900 Stellar MLS as Distributed by MLS Grid
• 2025-05-07 Price Changed $284,050 Stellar MLS as Distributed by MLS Grid
• 2025-04-05 Listed $299,000 Stellar MLS as Distributed by MLS Grid
• 2019-01-30 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-01-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-01-30 Listed $185,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2025): $4,194 · +15.3% YoY. Source: county tax records.